Software Circle Share Discussion Threads

[siwel100] 26/6/2008 07:55

short term, the boring wait for the last of the Polar holding to be placed....medium term a revaluation to a sensible p/e....long term, a nice strong stable company with excellent growth prospects and the prospect of escalating Divi's.
Trading may provide the adrenelin, but long term investing always makes the largest gains.

[fatfish] 24/6/2008 16:50

had mine a couple of days ago

[theblackswan] 24/6/2008 11:43

Dividends paid today

[explorer88] 24/6/2008 07:30

o/t brilliant results from CESG this morning ...

[philjeans] 23/6/2008 16:43

Two nice buys just revealed, after the bell, totalling 400k shs at full price.

SAT contracts rolling again now?

Watch for an RNS.

Looking very neglected for a cash rich, highly profitable and expanding software business.

[igoe104] 22/6/2008 10:59

YES every chance, they have mensioned a merger in one of the rns already.

[explorer88] 22/6/2008 10:12

any thoughts on the likelihood of a takeover approach for SFT in the forseeable future, perhaps from a company like GNG?

[igoe104] 19/6/2008 19:11

Looks like it won,t be to long before they are out.

LONDON (Thomson Financial) - Sinosoft Technology Plc. said Polar Capital LLP
has cut its stake in the company to about 4.226 percent or 7.0 million shares,
from about 9.0 million shares earlier.
[e-mail]

[igoe104] 19/6/2008 19:11

Looks like it won,t be to long before they are out.

LONDON (Thomson Financial) - Sinosoft Technology Plc. said Polar Capital LLP
has cut its stake in the company to about 4.226 percent or 7.0 million shares,
from about 9.0 million shares earlier.
[e-mail]

[arthurly] 19/6/2008 17:15

Looks like someone's bought £60k's worth today. Expectation must be that once Polar are out of it we'll move up strongly.

[jailbird] 19/6/2008 16:42

The Group's major product remains our e-government solutions which contribute
around 29% of the total turnover. The information integration contributes 20%
and tax software contributes 19% towards total turnover.

the tax system is the lowest contributor to revenues. So if this takes
off, revenues will increase substantially. But it is not the only reason to
look at these.
The outsourcing division is also interesting.

[igoe104] 18/6/2008 19:56

I,d hate to have invested into polar, if they are selling at this price.
maybe there is a buyer, who has an eye on taking over the company, i wouldn,t be surprised.

[h101] 18/6/2008 16:03

Thank goodness someone else is taking them - I bought a few times recently and have no more spare cash! I was getting nervous when I realised they were dumping.

[explorer88] 18/6/2008 13:07

Hi Art

I believe Polar are forced sellers - sold half their remaining holding this morning - will probably sell the other half. I think they're finding good homes ... ;-)

[arthurly] 18/6/2008 11:53

Are Polar selling the rest on ?

[arthurly] 17/6/2008 17:30

Yep I reckon they'd have gone to a home. Can't see the MM's wanting to hold on to them.

[jailbird] 17/6/2008 17:01

so these were sells..must have a gone to home too though.

Infact i reckon they could have been 'x' trades.

Do who bought?..maybe another RNS if threshold has been breached.

[arthurly] 17/6/2008 16:51

Polar have still got 9mil. That'll take a bit of shifting.

[roybel] 15/6/2008 11:55

buggy
many thanks
rb

[buggy] 15/6/2008 11:41

roybel,

Via your nominee account holder, (bour broker). The share is registered in their name so the divi will be paid to them and they will pass this on to you.

[roybel] 15/6/2008 11:26

If your shares are in a nomminee account, how do you get your divi ?.

rgds
rb

[siwel100] 13/6/2008 15:38

Arthurly...The Golden Tax Project is an odd situation. On the one hand a delay to the rollout caused by more bespoke work than anticipated is a frustrating thing, on the other hand the higher degree of integration opens the door for additional product sales across all provinces. I would suggest that they will need another few provinces to get it down to a fine art. By the end of the exercise they will be an approved national government contractor with a proven track record, thats something which is valuable on a number of levels, both bidding as contractors and picking up work as subcontractors and will also spill over to the private sector.
I would say that profit is satisfactory at the moment rather than stellar, but then again they have also been rapidly growing the company infastructure, something that places them well regarding contract size and type.
Oddly enough its the measured growth that attracts me to this one. Yep roman candles are exciting but there is ample opportunities for some major software companies to develop in China over the next 10 years, I get the impression that those putting down the firmest foundations will do best.
Its an odd market to guage, each province is the size of the UK, the sheer scale of the market dwarfs any other. The margins SFT are achieving are extraordinary when you consider how little foreign currency based work they currently do.
All in all a very solid but fairly pedestrian company at the moment by Chinese standards but with substantial potential and at the current price and Divi makes it one of the best UK listed Chinese stocks....imo
ps...Simply looking at SFT's track record I get the impression that any acquisitions will be well thought out and marry into the existing structure rather than be "left field" growth purchases.
It is also worth remembering that SFT itself will be appearing on other companies "acquisition lists".

[arthurly] 13/6/2008 11:32

bearraider - at the end of the day the share price is expressed in sterling, whatever currency they report in. ie you would then presumably have to reconvert from dollars to sterling. Might as well ignore $ in the first place imho.

Correction - sorry I see what you're getting at now.

I think what you need to take into account is that the export credit software business has virtually ground to a halt - they were only, until recently in 2 provinces and it seems they've saturated the market in those 2 provinces. So this business has fallen from around 1/3 rd of the total to around 20% in the last couple of years. Other business is growing reasonably strongly and should hopefully increase as more software programs are developed and outsourcing increased (there's a huge market out there that seems to be largely in Indian hands so far).

But overall growth rate will remain lowish until they sort out the Golden Tax project ie start earning decent amounts from all the other provinces in China. When they have given convincing evidence that they've sorted out software problems there, the share price will motor imho.

PS the other potential plus point is that they have a lot of dosh to buy other businesses - One would think that they could buy quite a lot of profit there, especially as businesses must be becoming much cheaper to buy.

[bearraider] 13/6/2008 10:55

thanks Arthurly but those are £ to yuan but helpful

$ to yuan
12/95--8.45 ( two small rate drops in 97 and 98)
12/04--8.28 (fixed at this rate from prior to 2000)
12/05--8.07
12/06--7.82
12/07--7.36
06/08--6.93

The 07 rate to 06 rate means that 5.8% of uplift in revenue figures is from currency this cuts real t/o growth from 15% to 9%.

in 2006 this would have been less than 3%
In 2008 so far already it it about 6%

[arthurly] 13/6/2008 09:14

bearraider - I don't think it's very marked between 2006 and 2007 - average rate 2006 maybe around 14.7, 2007 around 15.00 ? Since then maybe average 13.9 ? Currently 13.42. I could see the average for this year being 13.5 or less - ie an appreciation of 10% re last year wheras none at all in the previous year.

01/01/06 13.92
30/06/06 14.54
31/12/06 15.32
30/06/07 15.28
31/12/07 14.61

today 13.42