Tat Hong Holdings Limited

[camelking]

hmmm...not really on commodities boom

The bet is on China Tower Crane market since 2008.
Their australian subsidiary was bought way before 2007 and not much siginificant investment during the period from 2007 to 2013.
From 2007 to 2013, they bought more than one thousand cranes in china....with not much profit to show

Tathong made their money from building of IR back in 2007/2008/2009.
At that point, they could have
1) go big time into property.
2) consolidate their stronghold in Asean
3) go into China Tower Crane market with YongMao.

They picked the 3rd.

Now, time will tell if Roland's direction is a right one.

[DP28]

Tat hong is a very family-oriented tradition business and has one of the best corporate governance IMO (I mean they truly report their financial statement in utmost faith unlike alot of other construction listed firms)

If theres an index pointing towards where the construction business is heading, Tat hong probably one that shows everything about it..

They didnt go into 1 because their cousins are in property development.

[GreedandFear]

Note that the controlling shareholder (CEO and family) bought 3,228,000 shares today.

[Stockerman]

Can Tat Hong go back to $2 or $3 ? What is its intrinsic valuation ?

Its heyday might be over. Govt in China is focusing more on quality than purely growth at all costs. Infra development might be slowing down from now onwards..

The proxy will be Australian Dollar or Aussie Dollar. If Aussie Dollar rebounds, then we can start to look back at Tat Hong.

But for now, Aussie Dollar has settled into a long term downward trend, probably for the next few years...

[Stockerman]

No use. Tat Hong dropping back to probably 80 to 85 cents.

Another big wave of sellers coming in...

just wait and see..

Note that the controlling shareholder (CEO and family) bought 3,228,000 shares today.

[TheMillennium]

scary looking balance sheet

from 2007 til 2013,
gearing has gone from 50 to 70%
no. of shares gone from 460 to 620mio
EPS went from 17c to 5c to 11c
no free cashflow at all

it's a massive expansion drive betting on the commodities boom which unfortunately seems to have come to an end.

The company's debt levels are scary..

I wonder how to put a price on such a company.
Better to just stay away?

[Stockerman]

Continue Shorting!

scary looking balance sheet

from 2007 til 2013,
gearing has gone from 50 to 70%
no. of shares gone from 460 to 620mio
EPS went from 17c to 5c to 11c
no free cashflow at all

it's a massive expansion drive betting on the commodities boom which unfortunately seems to have come to an end.

The company's debt levels are scary..

I wonder how to put a price on such a company.
Better to just stay away?

[Ben]

No use. Tat Hong dropping back to probably 80 to 85 cents.

Another big wave of sellers coming in...

just wait and see..

Tat Hong closed at 86 cts today, approaching your estimated range. There were a few insiders/SSH buying lately, and today SGX announced another director bought 100 lots on 19 and 20 Aug. Is this a sign that the insiders are confident of the company prospect or are they doing "national duties"?

Not vested.

[Stockerman]

Those who bought a few weeks ago would have lost 20% . Just be a bit more patient and wait for more panic selling . That is best time to cover and perhaps buy some

[potatolover]

Seems that we are approaching the 70 cents level soon ...