Undervalued Stock?? I Bought Big Into This Company That You May Not Have Heard Of | Straits Trading
ฝัง
- เผยแพร่เมื่อ 20 พ.ค. 2024
- Today I'd be sharing with you what Straits Trading owns, why I feel it could be massively undervalued which is the reason why I have it as one of my biggest holdings in my portfolio.
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0:00 Introduction to Straits Trading
2:16 Understanding the history of Straits Trading
It was acquired in 2008 by Tecity Group helmed by Ms Chew Gek Khim.
4:43 Core business of Straits Trading now
Resources (Malaysian Smelting Corporation Berhad) and Real Estate (via Straits Real Estate SRE) are the key components
FEHH and STC property management which is developing a project in Butterworth
7:09 Analysis of SRE
It is targeting to grow $3B of assets.
9:00 Is Straits trading too leveraged?
Moving forward leverage ratio will drop to 31%
10:57 Special dividend from ARA sale to ESR Group Ltd
For every 1,000 shares now in straits trading, you'd get 180 straits trading shares or 145 ESR shares listed in HK (HK: 1821). Distribution worth is around $0.50.
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14:03 My minimum intrinsic value of Straits Trading
Combining the value of SRE, MSC stake, Suntec REIT stake and ESR Group stake
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i’m
Bought back this @ $1.45 today. Held it for $1.99 in 2016, collected 5 divvies, sold 60% @ $2.21 in '19, sold 40% @ $ 2.27 in '21 but missed the big moves in '21-'22. Holding it for another 5 yrs at least...Made a few rounds on MSC also.
You should have bought big into SingPost too ... you know ... and have HDL or DTF for the next 30 years.
Hi Josh, you mentioned that you have this stock using your SRS, may i know how to use SRS im buying stocks?
Thank you and more power to you.
Hi Ryan, you'd need a traditional broker.I use Lim And Tan, if keen drop me an email to joshtantap@gmail.com , I'd help to link next week
Hi Josh - Would you like to do an update on the review of Straits Trading? It is still undervalued? I have e been tra king this stock since your last review and wonder if it might be a good time to start a position.
Hi, results should be out around start Mar24. Share price has been rough but haven't seen new information that will change my view on it yet
Hi Josh, Straits Trading is not a high profile name on SGX versus others. Thus low trading volume --> price appreciation may not be fully realised. If institutions starts buying then different story. Retail investors hardly move prices.
What if "low trading volume --> price appreciation may not be fully realised." this gets reversed? Ms Chew has increased the float before on MSC and actually they have sold small private blocks of shares out for ST at about $3.1+ recently to raise capital and boost float. Hope it answers
Thanks for that good video. What do you think of Sheng Siong?
Surprised slightly of newest results. Subs and stay tuned, may be doing an update on it. Anyone keen, smash the LIKE here to upvote
Slow and steady stock for long term hold. Been holding them since 2017.
Good videos
The charts that I see on which commodities are the most important for an EV seem to conflict with the chart u presented at the end. Can’t paste a link here. Lithium and Cobalt seem to be the most important as opposed to Tin from the chart I see.
I guess the chart u saw is PURELY for EV. TIN is most impacted by new technology which includes renewable, robotics etc...
internetfileserver.phillip.com.sg/POEMS/Stocks/Research/ResearchCoverage/SG/STC20190612.pdf
Good video thanks. This is one I already own.
Hi five =)
Josh - still falling heavily (almost S$2 down from $3.70.......) and I cannot see why specific to this stock. Or just the current issue of interest rates etc etc? Any ideas?
50c is share dividend. So its like from 330 to 250? Still punished though its true
Just gonna honestly say I'll have to do my own research on like 80% of the things you said (too complicated lol). What do you think about the property crisis due to the over-leveraging of the housing developers? Since 20% of the ST REITs are China.
Hi Alex I do encourage further self research. Second part of your question has some inherent confusion. straits trading key development is the butterworth/Penang project but overall profile is more of a property owner. Reits do not develop properties. They own functioning properties which is a different risk profile of business. Likely falls into malls (sasseur reit) or offices (mpact) or biz parks (cct) . Still need to drill into supply and demand trends. Hope it answers 👌🏻
@@joshconsultancy thanks for the info!
Josh, i still trying to figure out this Straits Trading stock. Their main business are real estate, hospitality and tin mining. With high interest rate, real estate is not going to do well. Hospitality should hold well for short term but the income is small. Tin mining might have issues in the short to medium term due to recession. I believe you must have strong reasons for holding this stock, what do you think is the main near term catalyst? Thanks
Hi EF high interest does not mean real estate does not do well. Some real estate businesses can lock in loans technically speaking and can raise rental rates to inflation levels. However, non profitable tech firms are all about future earnings and that by default faces a steeper discount rate on. I like the assets they own that are non hospitality actually and I like who is running it for the long term
price/book quite good, but if we are accounting for just p/e and roa, this is not the best company to buy. eps is rising per year which is a good qualitative trend.
what do you have in mind?
@@joshconsultancy hmm I don't want to share my entire portfolio but I think stocks like tat seng packaging is not bad, at least according to it's last 10 years eps ,roa data. It's on sgx. T12 I think?
@@joshconsultancy what do you think?
i dont know why ppl think stocks will go up in coming mths?
1. hiking of interest rate.
2. Sept Feds start QT.
3. Feds stop purchasing of MBS.
4. US and CHina tension will get worse.
what is the possibilities that the worldwide stock market will go up vs down?
I understand. It's important to note no one knows where is the bottom for sure. If that is true, keep buying the right things because in the longer span of time it will work. And at the bottom, the news will look terrible. It will not look good. Remember it and it should serve you well to take the right actions
Will look into them.Tks.Current prices a good entry price?
I suggested a minimum company value alr =P
@@joshconsultancy Thank you for sharing. Market cap of company is $1.39bn now. Your conservative value is around $1.2bn? I dont see the discount?
@@wengkitcheong I’m avoiding to put a target price because it hurts critical thinking. I’m inputting instead a MINIMUM BUSINESS VALUE. (Btw min doesn’t mean prices will never drop past it. Value may not relate to price all the time) Hopefully it still leaves room for self interpretation on what’s a FAIR value
More than one year after, Straits Trading shares just kept going lower and lower. Today 19 Dec 23, mkt price is $1.79 . Hope you didnt lose too much on this counter, Josh.
Its in the red undoubtedly. Bad outcomes are part of the journey no probs
There is a high non cash earnings?? . Where does it come from??? ..
Property revaluation. Theres a segment where I removed it to find a v conservative valuation on SRE
S20 is now 50% of its previous price...time to all in..?
Along the way there were special dividends do note.
Having said that, price is v suppressed. When it will turn around I also dont know.
Nothing fundamentally wrong with the business operations from what I know. Having said that, invest prudently
Just worried another Hyflux Olivia Lum
they are worlds apart
@@joshconsultancy I agree with you. This granddaughter of Tan Chin Tuan is one solid lady. When she was leading Tecity in the corporate manoeuvring against the family controlling OCBC, I wanted to invest in Straits Trading but to my regret, I didn’t. The big question now is whether it is still worth entering?
My personal opinion is yes because Ms Chew has proven to be an astute corporate leader but it should be a long-term investment and not for a quick profit.
@@CalvinK300 now w ARA sale concluded, the intrinsic value of the company (not share price) is higher than ever before
@@joshconsultancy thanks for this tip. I didn’t think of this. 👍
Underappreciated stock. I look more at the management than financial ratios. They are careful and they give a regular dividend
Fully agree!
Maybe can share with Steven Lim to divest to this one...
Sure. To a few good ones, no need for all in
next video: ETH merger do we need to do anything? thanks :)
Oops this is a space I dont have knowledge depth in. My ETH is passively owned with a generation gift perspective
Market treat this as a reit play hence recent sell off..
Think its due to real estate in UK
Bad... Investment..
I think I saw suntec too. UK property price revised down.. Looks bad.. Don't know why they love UK... They should bought Asia property.. Like hk.. Thailand instead.
Not convinced
SRE is heavily discounted, not using NAV even. ARA stake haircut to value. SUNTEC and MSC value marketed down. FEHH no value given. Specifically which part of the valuation you disagree with?
@@joshconsultancy this is asset play. I cannot see how the earnings and cash flows will grow though.
Playing out your commodity call? Putting money where your mouth is , good job.
Thanks for the high praise
Haha PAP is going to tax the rich ... maybe she will be tax ...$$$