CGS-CIMB Analyst Report on PDS


Analyst: William TNG, CFA


PDS 2018 Report by CGS CIMB Analyst

 

 

Summary:

  • Powermatic’s core business is manufacturing a wide range of wireless connectivity hardware such as wireless modules, embedded boards and antenna.
  • As the company is able to offer hardware and software design capabilities, it also enjoys higher gross margins than its peers without design capabilities.
  • At the current share price, we believe that investors are getting Powermatic’s growing wireless connectivity business for free.
  • We initiate with an Add call as we expect the company to continue benefiting from the growing connectivity of devices and the advent of 5G telecommunications network.

The full detailed article can be downloaded via PDF:

 

 

 

 

 

 

 

 

 

SIN PDS Initiation 5 Mar 2018.pdf

PDS: And the deep value continues to grow


Written by Leong Chan Teik


Summary:

In a perfect investment world, Powermatic Data Systems’ stock would be trading at much higher prices. It’s not that complicated to make a case for that.

Its latest half-yearly profit (ended Sept 2017) came up to S$2.5 million, up 8% y-o-y. It’s yet another steady result.

S$ ‘m 1HFY18 2HFY17 1HFY17 2HFY16
Net Profit 2.5 1.9 2.3 1.6

What’s a standout, which has become even more so over the past couple of years, is the fact that its cash, its quoted investments and the value of its freehold property all add up to a figure far exceeding its market cap.

Full article:
https://www.nextinsight.net/story-archive-mainmenu-60/939-2017/11864-powermatic-data-systems-and-the-cash-continues-to-grow

AGM of PDS: Riding on growth of wi-fi connectivity in transport


Written by Leong Chan Teik


 

 

 

 

 

 

 

 

L-R: Independent directors Tom Yee and Prof Lye Kin Mun | Executive chairman Dr Chen Mun | Executive director Katherine Ang | Finance manager Molly Chua. 

Summary:
Powermatic Data Systems reported a net profit of $4.2 million, up 47.2% y-o-y, drawing praises from several shareholders who spoke up at the AGM. The secret sauce, we learnt, is the wi-fi connectivity solutions that Powermatic has in recent years supplied to enable wi-fi connectivity in transportation vehicles, such as trains, buses and taxis, especially in Europe and the US.

Full article:

https://www.nextinsight.net/story-archive-mainmenu-60/939-2017/11640-agm-of-powermatic-data-riding-on-growth-of-wi-fi-connectivity-in-transport

PDS: Core wi-fi connectivity business on the rise


Written by Leong Chan Teik


 

 

 

 

 

 

 

Investors meeting at the Powermatic Data Systems former office in Joo Seng.

Summary: 

Powermatic Data Systems has been listed on the Singapore Exchange since 1992, and its business has gone through several transformations since. Which is perhaps why when 16 investors headed for a meeting with Powermatic last Saturday, they had various versions of what they thought the business is about.

Full article:

https://www.nextinsight.net/story-archive-mainmenu-60/927-2015/10346-powermatic-data-systems

AGM of PDS: Touching on cashpile, growth prospects, etc


Written by Leong Chan Teik


 

 

 

 

 

 

 

 

 

 

L-R: Finance manager Molly Chua, Executive director Katherine Ang, Executive chairman Dr Chen Mun, and Independent directors Tom Yee, David Tan and Prof Lye Kin Mun.

Summary:

Despite being a small listed company, Powermatic Data Systems is engaged in interesting, and cutting edge, projects with global players. To start with, Powermatic is an authorised design centre for Qualcomm Atheros. It was the first Qualcomm design centre in Asia when it was set up two years ago. Management spoke about Powermatic’s involvement, and potential investments, in projects such as those that involve “a major search engine” and a global car rental company, without revealing names.

Full article:
https://www.nextinsight.net/story-archive-mainmenu-60/938-2016/10862-agm-of-powermatic-data-systems