#isoteam

ISOTeam On Track For a Stellar FY16

ISOTeam

ISOTeam has announced contract wins of SGD20.49m, comprising A&A and R&R works. The majority of jobs are from Singapore government bodies like town councils and the National Environment Agency. We understand that c.SGD30m-35m of contracts have been utilised YTD and it is on track to enjoy a stellar FY16 (Jun). With a steady orderbook of c.SGD80m-85m on top of a potential expansion to…

ISOTEAM – Key Beneficiary Of The General Elections

Maintain BUY with a target price of S$0.705 based on 9.6x FY16F PE.

ISOTEAM reported a 34% yoy growth in net on the back of higher revenue. Excluding amortisation of intangible assets and written-off goodwill from acquisitions of new subsidiaries (which we had not factored in), FY15 profit before tax would have accounted for 97% of our full-year forecast.

With its improved profitability, ISO…

ISOTEAM – Recent Placement Signals Market Confidence In Isoteam

Maintain BUY with a slightly lower target price of S$0.705 based on 9.6x FY16F PE. The company is currently trading at 8.2x FY16F PE with a net cash of 14 cents/share.

ISOTeam(ISO) has proposed the placement of up to 9m new shares (to an institutional investor and individual investors) at S$0.58/share, which will raise net proceeds of up to S$5m for the group to fund its capex, inorganic…

ISOTeam – Vote of confidence from strategic business partner

Maintain BUY but with the target price lowered to S$0.62, as we factor in the enlarged share base following the new share placement to Nippon Paint.

ISOTeam (ISO) has proposed to place out 2.8m new ordinary shares to Nippon Paint (Singapore) Company Pte Ltd (Nippon Paint) at S$0.50/share.

Upon completion of the placement and proposed acquisition of Industrial Contracts Marketing Pte. Ltd. by ISO…

ISOTeam – Vote of confidence from strategic business partner

Maintain BUY but with the target price lowered to S$0.62, as we factor in the enlarged share base following the new share placement to Nippon Paint.

ISOTeam (ISO) has proposed to place out 2.8m new ordinary shares to Nippon Paint (Singapore) Company Pte Ltd (Nippon Paint) at S$0.50/share.

Upon completion of the placement and proposed acquisition of Industrial Contracts Marketing Pte. Ltd. by ISO…

ISOTeam - Recurrence, yes. Scalable, maybe - the largest eco-conscious building maintenance and estate upgrading service provider in Singapore

Backed by favourable regulatory requirements, ISOTeam is in a prime position to leverage on upgrading initiatives by the government and earn recurring building repainting revenue. Yet, a low profit margin and lack of longer term scalability may point towards inorganic expansion to streamline operations and expand into new markets.

We estimate a fair value of 42.9-48.2 Scts(EPS: 6.5- 7.3 Scts)…

ISOTeam – Recurrence, yes. Scalable, maybe

Backed by favourable regulatory requirements, ISOTeam is in a prime position to leverage on upgrading initiatives by the government and earn recurring building repainting revenue. Yet, a low profit margin and lack of longer term scalability may point towards inorganic expansion to streamline operations and expand into new markets.

We estimate a fair value of 42.9-48.2 Scts (EPS: 6.5- 7.3 Scts)…