Tuesday, July 24, 2018

Random thoughts: First shot, SIA engineering

Initiated position:

Reasons:

1)Price at 5 year low
2)Yet, earning is improving.
3)Local earnings is weaker but SIA engineering strategy of forming joint ventures and alliances mean the earnings should be look at in totality.
4) Latest AR did not disclose number of D checks, but I believe the upswing should start next year, if they can keep their market share.
5) With ST engineering, I am buying into Singapore Aviation story, abeit its the support and service equation of the Aviation Story

Valuation in terms of yield is fair, as SIA engineering has always trade around 5% yield.

But personally, 5 percent yield at market peak and 5 percent yield at the tough of cyclical MRO cycle is different.

1 round of.ammo has 2 more shots. Which alerts will go off first?

4 comments:

  1. Are you refering to 5% dividend yield ?

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