Triyards, An Unappreciated Stock

The recent market pull back had brought Triyards Hldgs’ valuation and share price to a rather attractive level. However, the stock has drawn little interest from investors. Below are some salient data on the stock:
No of Issued Shares: 295M; Major Holder: EZRA – 67%
52-week High: 95 cts; Low: 60 cts; NAV: 46 cts
FY 12(end-Aug) EPS – 14.9 cts(US)
FY 13 Est. EPS – 10 cts(US); Estimated PE – 5.5x @ 69 cts
Those having interest in stocks in the Oil & Gas Sector may like to take a closer look at this one. The write-up in the link below also provides a very informative and valuable insight towards the understanding of the business of Triyards –
saharainvesting.wordpress.com/2013/02/08/triyards-holdings/

A good commentary of Triyards’ 3Q13 results was made by Singapore Business Review in the link below -–
sbr.com.sg/building-engineering/more-new...fit-crashed-55-us75m
NRA Capital also has coverage on this stock with a target price of 97 cts. It considered Triyards as a “mini Keppel Shipyard in the making”. As all stocks have risks factors, it is important that investors should do their own homework before putting money into any stocks [DYODD]

Vested [accumulating from 72 to 62 cts]

TQ Observer. It looks undervalued .... but me don't understand self-elevating unit (SEU), Premium Class 400 HPHT and what not.

Reck – I would view Triyards as offering very attractive value at under 70 cts; somewhat similar to Kreuz at around 40 cts in Nov/Dec 2012 – quiet with low turnover and interest. Whether the stock is going to do well or not depends a lot on its management and the company’s ability to grow its revenue and profits if its share price is to rise to greater heights. Triyards is due to release its full-year results next month and we will have a better understanding of how the company is progressing.
Although it is not so easy for layman like us to understand well the SEU and its industry, we can have a fair idea of the role that Triyards is playing. Triyards’ CEO, Wong Bheet Huan, has this to say of Triyards’ SEU –
“"Our SEUs serve to fill a gap in the industry - oil players operating offshore platforms look for alternatives to service platforms, while the larger rigs produced by the big two yards in Singapore and China are too costly," said Mr Wong. "This is where our SEUs come in - we provide a cost effective solution to operators who need smaller SEUs to service the shallow platforms and we are able to do so at less than half the price."”

Your recommendation is quite zhun! Now 72.5 cents (+5 cents). Are you from the oil & gas industry?

Hi, Viva,
I am not from the oil & gas industry.
Triyards’ share price moves up probably because of the surge in price of its mother share, Ezra - (on speculation that Samsung Heavy Industry is interested in making a takeover bid). I expect a re-rating of Triyards’ share price only after it releases its full year results next month, hopefully with a declaration of a maiden dividend. Triyards is becoming a prize possession for Ezra. Its nett profit for FY 12 was US$44M as compared to Ezra’s nett profit of US$65M. That might have accounted for Samsung to be interested in taking over the mother as it can also own two-third of the daughter as well.

thanks! I can understand financials, so I will look at this more closely and buy if it makes sense. Have you given up on S-chips? I remember you used to talk about some like Qingmei.