Skip to main content

IPO Chilli Ratings

IPO Chilli Ratings
Click to understand how it works

Featured

Posted by

The Assembly Place IPO

   The Assembly Place Holdings Ltd. IPO Overview Company:   The Assembly Place Holdings Ltd. Listing venue:  Singapore Exchange (SGX) —  Catalist  board Offer type:  IPO (Public Offer + Placement + Cornerstone) Sponsor / Issue Manager:  SAC Capital Private Limited The Company is offering 50.3m shares of which 48.3 will be via placement and the balance 2m shares via public offering.  The IPO will close on 21 Jan 2026 noon and start trading on 23 Jan 2026 at 9am.   Business Description The Assembly Place (TAP) is  Singapore’s largest  community living operator * by number of keys under management, operating under an  asset-light  model that leases and manages accommodation properties rather than owning them outright. As at 17 Dec 2025, TAP managed  ~3,422 keys across ~100 property assets  in Singapore, spanning multiple living sectors. TAP’s portfolio includes: Residential co-living  spaces (for singles a...
Post a Comment
Read more
Labels
Posted by

Marco Polo Marine Ltd


(Marco Polo IPO booth at Raffles Place, pardon my poor image quality)

Marco Polo is primarily in the ship chartering and shipyard business. The company currently has 23 vessels for its ship chartering business. The shipyard business is located in Batam, Indonesia and it has 11 vessels under construction. The shipyard is in the process of expanding and is expected to be one of the larger shipyard in Batam when the expansion is completed.
Public - 3.8m shares at $0.28
Placement - 49.75m shares



Although this company is heading for SESDAQ, at least the prospectus provides financial performance for the first half of 2007. Revenue for 2006 is $15.9m and net profit is $5.4m. (Net margin is 34%). Revenue for 1H 07 is 200% better than 1H 06 and the first half revenue has exceeded the entire 2006 revenue. Net profit for 1H07 is also 264% better than 1H06, showing an improvement in net margin. Assuming 1H07 is a strong indication for 2007, the net profit for 2007 will likely hit between $12.2 to $15.2m. Based on the post-IPO share cap of 267.75m shares, the EPS for 2007 will likely be between 4.5 cents to 5.7 cents. Assume a PER of 10x, the fair value will be 45 cents to 57 cents and that represents a significant upside of >60% from the IPO price.

Downside will be that contracts are in US$ while costs are in S$ or IDR and what if the company also engage in 'currency hedging'. ?!?

Conclusion - just hoot and hope you get it.
Email Post
Labels:

Comments

e968887 said…
FY2006 net profit margin should be 33.9% rather than 28%. My projection is FY2007 EPS 0.0525 and 10-11x PE.
31 October 2007 at 16:48
Mr. IPO said…
Thanks Nelson :) i must be in my dream land when i was typing this.
31 October 2007 at 22:29
Post a Comment