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Monday, 6 November 2017

Hong Kong Stock Watchlist - 6/11/2017

Market caps in HKD
  1. Tencent Holdings Ltd - 3.495t - gaming
  2. Ping An Insurance (Grp) Co of China Ltd. - 1.35t - financial
  3. Agricultural Bank of China Ltd - 1.404t - banking
  4. Geely Automobile Holdings Ltd - 216.9b - automobile
  5. Guangzhou Automobile Group Co Ltd - 180.9b - automobile
  6. ANTA Sports Products Ltd - 92.7b - sporting goods manufacturer
  7. Dali Foods Group Co Ltd - 82.7b - f&b
  8. Haier Electronics Group Co Ltd - 60.4b - home electric appliance
  9. Minth Group Ltd - 50.2b - auto parts manufacturer
  10. SITC International Holdings Co Ltd - 19.8b - transport and logistics
  11. Fu Shou Yuan International Group Ltd - 11.9b - funeral services
  12. Texhong Textile Group Ltd - 9.7b - textile manufacturer
  13. Yihai International Holding Ltd - 7.7b - f&b compound manufacturer
  14. Essex Bio-Technology Ltd - 2.8b - pharma for eye and surface wounds
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Sunday, 5 November 2017

US Stock Watchlist - 6/11/2017

Market caps in USD
  1. Alphabet Inc - 723.4b - tech
  2. Alibaba Group Holding Ltd - 469.2b - e-commerce
  3. Intel Corp - 216.8b - IT, cloud
  4. UnitedHealth Group Inc - 205b - healthcare services
  5. U.S. Bancorp - 91.4b - financial, banking
  6. Applied Materials Inc - 60.3b - semiconductor equipment manufacturer
  7. Micron Technology Inc - 50.4b - semiconductor manufacturer
  8. Lam Research Corp - 33.5b - semiconductor services and equipment manufacturer
  9. Principal Financial Group Inc - 19.7b - investment management
  10. KLA-Tencor Corp - 16.6b - semiconductor services
  11. IPG Photonics Corp - 11.5b - laser equipment manufacturer
  12. YY Inc - 5.6b - social networking
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Japan Stock Watchlist - 6/11/2017

Market caps in JPY
  1. SMC Corp - 2.911t - pneumatic product manufacturer
  2. Daiwa House Industry Co Ltd - 2.824t - real estate
  3. Asahi Group Holdings Ltd - 2.531t - alcohol beverages
  4. Kajima Corp - 1.307t - construction
  5. Koito Manufacturing Co Ltd - 1.252t - automotive lighting equipment manufacturer
  6. Oracle Corp Japan - 1.225t - IT, cloud
  7. Disco Corp - 966b - semiconductor equipment manufacturer
  8. Fuji Electric Co Ltd - 624b - industrial equipment manufacturer
  9. Square Enix Holdings Co Ltd - 600b - gaming
  10. Harmonic Drive Systems Inc - 585b - precision speed reducer
  11. THK Co Ltd - 581b - industrial equipment manufacturer
  12. Mebuki Financial Group Inc - 567b - banking
  13. Screen Holdings Co Ltd - 517b - semiconductor equipment manufacturer
  14. Ulvac Inc - 419b - vacuum machinery
  15. Shima Seiki Mfg. Ltd - 260b - manufacturing
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Friday, 3 November 2017

Guangzhou Automobile Group (2238.HK)

3/11/2017

State-owned automobile group engaged in diversified business including R&D and manufacturing for vehicles (automobiles and motorcycles) and parts, automotive trade services, automotive financial services etc. GAC owns or has directly invested in dozens of businesses, including GAC Motor, GAC Honda, GAC Toyota, GAC Mitsubishi, GAC Fiat Chrysler, GAC Engineering etc.

metrics
  1. last done 19.36 hkd
  2. market cap 180965m hkd, 31.6b sgd
  3. pe 12.55, pb 2.15
  4. total debt to equity 33.8%, current ratio 1.44
  5. dividend yield 1.97%, 5yr cagr 27.7%, consistent
  6. 5yr cagr: revenue 30.7%, earnings 40.8%, consistent
  7. strong cash flow
operations
  1. 5 business segments
    1. R&D
    2. manufacture of vehicles and motorcycles
      1. joint ventures with honda, toyota, Fiat-Chrysler, Mitsubishi and GAMC
      2. hybrid and full-electric vehicles
      3. joint venture Wuyang-Honda - motorcycles
    3. parts and components
    4. commercial services
    5. financial services
  1. growth seems more from SUVs, growing 61% yoy in 1H2017
  2. electric vehicle sales and production growth 14.4% and 19.7% in respectively 1H2017
investment thesis
  1. established brands
  2. value chain in automobile industry
  3. cheap relative to peers
risks
  1. slow down in China vehicle industry
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Wednesday, 1 November 2017

Sembcorp Marine (S51.SI)


2/11/2017

metrics
  • last done $2.00
  • market cap sgd 4.2b
  • pe 51.12, pb 1.67, nav 1.206
  • total debt to equity 162.18%, current ratio 1.34
relative valuation
  • keppel corp pb 1.17
  • sembcorp ind pb 0.88
  • sembcorp marine 1.67
operations
  • 2 main segments
    • rigs & floaters, repairs & upgrades, offshore platforms and specialised shipbuilding
    • ship chartering
  • Rigs and floaters remained the largest segment, accounting for 40% of total revenue followed by offshore platforms at 36%, repair and upgrades at 20% and others at 4%
 summary
  1. Successfully sold nine Pacific Class 400 jack-up drilling rigs to Borr Drilling, sold for about US$1.3 billion, to improve liquidity position. with current ratio at 1.34, liquidity should not be a problem in the meantime
    1. interest expenses to decline as debt is reduced
  2. We believe provisions of $329 million made in FY2015 for the Sete Brasil contracts remain adequate under present circumstances
  3. With deliveries till 2020, our net order book currently stands at $7.97 billion. Excluding Sete Brasil projects, net order book totals $4.85 billion
  4. Good progress has been made in the development and commercialisation of our Gravifloat technology for near-shore gas infrastructure solutions
risks
  • execution risks from existing order book and future orders
  • unforeseen impairment risks
  • oil price decline
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