Stock Name: SIGN
Company Name: SIGNATURE INTERNATIONAL BHD
Company Name: SIGNATURE INTERNATIONAL BHD
| Research House: TA | Price Call: BUY | Target Price: 3.65 |
Showing posts with label SIGN. Show all posts
Showing posts with label SIGN. Show all posts
May 13, 2015
April 21, 2015
Strong Signs of Encouraging Earnings Growth
Stock Name: SIGN
Company Name: SIGNATURE INTERNATIONAL BHD
Company Name: SIGNATURE INTERNATIONAL BHD
| Research House: TA | Price Call: BUY | Target Price: 3.22 |
April 19, 2011
SIGN - Signature International riding on robust property mart
Stock Name: SIGN
Company Name: SIGNATURE INTERNATIONAL BHD
Research House: OSK
Signature International Bhd
(April 18, 75 sen)
Maintain buy at 75 sen with target price of RM1.18: SIB's unbilled order book currently stands at RM70 million. Given the short-term nature of the kitchen maker's contracts of three to six months, we think SIB may be able to recognise half of this amount for this financial year and the remainder the following fiscal year.
As stated in our previous report, SIB estimates that it could secure projects worth RM200 million to RM300 million going forward, as its market space rebounds following the rebound in the general property market.
Upon ascribing a 50% success rate, we believe SIB could book in new orders amounting to RM100 million to RM150 million for FY12. Taking an average assumption, this means SIB could well chalk up RM160 million in revenue for FY12, which is close to our forecast of RM170.3 million.
During its presentation, SIB highlighted its involvement with reputable property developers such as Bandar Raya Developments Bhd, S P Setia Bhd, Mah Sing Group Bhd and MK Land Holdings Bhd. This reinforces our view on the sustainability of SIB's ability to secure future projects within Malaysia even in the event of a property downcycle, as house buyers will always tend to prefer renowned developers, thus providing a base for recurring projects that SIB can tender for.
SIB serves all market segments via its brands Kubiq (value brand), Signature Kitchen (high-end), Binova and Nobilia (super high-end). The company's earnings are expected to still be predominantly contributed by its Signature Kitchen (SK) brand, which accounted for more than 90% of its revenue as at FY10.
Going by the large number of high-end apartments in the Klang Valley (ranging from RM450psf and above) that are nearing completion by end-this year, SIB's SK brand looks poised to cash in on this segment. As for projects where kitchen systems are not pre-installed, we understand that SIB has tie-ups with some of the above developers to promote SIB's services to house buyers. ' OSK Research, April 18
This article appeared in The Edge Financial Daily, April 19, 2011.
Company Name: SIGNATURE INTERNATIONAL BHD
Research House: OSK
Signature International Bhd
(April 18, 75 sen)
Maintain buy at 75 sen with target price of RM1.18: SIB's unbilled order book currently stands at RM70 million. Given the short-term nature of the kitchen maker's contracts of three to six months, we think SIB may be able to recognise half of this amount for this financial year and the remainder the following fiscal year.
As stated in our previous report, SIB estimates that it could secure projects worth RM200 million to RM300 million going forward, as its market space rebounds following the rebound in the general property market.
Upon ascribing a 50% success rate, we believe SIB could book in new orders amounting to RM100 million to RM150 million for FY12. Taking an average assumption, this means SIB could well chalk up RM160 million in revenue for FY12, which is close to our forecast of RM170.3 million.
During its presentation, SIB highlighted its involvement with reputable property developers such as Bandar Raya Developments Bhd, S P Setia Bhd, Mah Sing Group Bhd and MK Land Holdings Bhd. This reinforces our view on the sustainability of SIB's ability to secure future projects within Malaysia even in the event of a property downcycle, as house buyers will always tend to prefer renowned developers, thus providing a base for recurring projects that SIB can tender for.
SIB serves all market segments via its brands Kubiq (value brand), Signature Kitchen (high-end), Binova and Nobilia (super high-end). The company's earnings are expected to still be predominantly contributed by its Signature Kitchen (SK) brand, which accounted for more than 90% of its revenue as at FY10.
Going by the large number of high-end apartments in the Klang Valley (ranging from RM450psf and above) that are nearing completion by end-this year, SIB's SK brand looks poised to cash in on this segment. As for projects where kitchen systems are not pre-installed, we understand that SIB has tie-ups with some of the above developers to promote SIB's services to house buyers. ' OSK Research, April 18
This article appeared in The Edge Financial Daily, April 19, 2011.
April 18, 2011
SIGN - Signature may pay dividends this year: OSK
Stock Name: SIGN
Company Name: SIGNATURE INTERNATIONAL BHD
Research House: OSK
Company Name: SIGNATURE INTERNATIONAL BHD
Research House: OSK
Signature International Bhd is expected pay a net dividend of three sen per share this year and five sen in 2012 compared to zero dividends previously, OSK Research says.
"This means, Signature International will provide net yields of 4.0 per cent and 6.7 percent for the 2011 and 2012 financial years respectively," the research house said in its Malaysia Equity Investment Research Daily today.
It maintained a "buy" call on Signature International shares with a target value of RM1.18.
Signature International is involved in design, manufacture and retail of kitchen and wardrobe systems; marketing and distribution of white goods; and glass and aluminum products.
-- Bernama
"This means, Signature International will provide net yields of 4.0 per cent and 6.7 percent for the 2011 and 2012 financial years respectively," the research house said in its Malaysia Equity Investment Research Daily today.
It maintained a "buy" call on Signature International shares with a target value of RM1.18.
Signature International is involved in design, manufacture and retail of kitchen and wardrobe systems; marketing and distribution of white goods; and glass and aluminum products.
-- Bernama
February 16, 2011
SIGN - OSK Research initiates coverage of Signature International, TP RM1.18
Stock Name: SIGN
Company Name: SIGNATURE INTERNATIONAL BHD
Research House: OSK
KUALA LUMPUR: OSK Research is initiating coverage on SIGNATURE INTERNATIONAL BHD [] with a BUY recommendation and target price of RM1.18.
The research house said on Wednesday, Feb 16 the company's flagship brand name, Signature Kitchen, is widely known among Malaysian households as an interior fit-out (IFO) specialist.
As its brand name suggests, Signature International is an IFO player with a niche in kitchen systems. Emerging from a slow start in FY10, OSK Research believes Signature International's earnings will return to its previous peak in FY09 on a slew of IFO contract awards secured this year.
'We believe this high billings momentum will boost its FY12 IFO earnings while its retail division will continue to grow at single digit,' it said.
Company Name: SIGNATURE INTERNATIONAL BHD
Research House: OSK
KUALA LUMPUR: OSK Research is initiating coverage on SIGNATURE INTERNATIONAL BHD [] with a BUY recommendation and target price of RM1.18.
The research house said on Wednesday, Feb 16 the company's flagship brand name, Signature Kitchen, is widely known among Malaysian households as an interior fit-out (IFO) specialist.
As its brand name suggests, Signature International is an IFO player with a niche in kitchen systems. Emerging from a slow start in FY10, OSK Research believes Signature International's earnings will return to its previous peak in FY09 on a slew of IFO contract awards secured this year.
'We believe this high billings momentum will boost its FY12 IFO earnings while its retail division will continue to grow at single digit,' it said.
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