Wednesday, November 23, 2016

Why United Engineer is moving higher

United Engineer is up more than 50% this year while STI stay flat, despite property market being weak and United Engineer share price still outperform the market.

Financial Summary - stock analytics 

BRIEF: For the nine months ended 30 September 2016, United Engineers Limited revenues decreased 49% to SP$358.2M. Net income before extraordinary items decreased 18% to SP$32.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Distribution Costs increase of 12% to SP$21.6M (expense), Finance costs increase of 4% to SP$27.9M (expense).

One reason of the strength is due to United Engineer's gains on the sales of UES UES Holdings and various environmental technology assets in China boosted its overall bottomline, soaring 625% to $134.7m. 

Another reason would be the potential of being take over by Charoen Sirivadhanabhakdi, Thailand's richest person, the talk is still on going. Investors are also speculating. 

Venue : #34-07, 10 Anson Road, International Plaza, Singapore 079903