Univision Engineering Share Discussion Threads

[noirua] 28/11/2015 13:12

Off topic: Singapore disputes court's very first case under way. Includes legal representatives from Hong Kong and England.

$1.1b dispute is first case heard, in Singapore


This case goes back to 2011 and concerns White Energy Limited of Australia and Bayan of Indonesia.
[White Energy Limited holds a 100% interest in Binderless Coal Briquetting Company Limited, which in turn owns a 100% interest in BCBC Singapore.]

[ Noirua verdict, US$65 million plus costs awarded to White Energy's subsidiary - claiming $800m is ridiculous and Bayan's claim laughable]

[noirua] 27/11/2015 16:35

Next event will be the Univision Half Yearly Report, due in December, first full half year without its former subsidiary Leader Smart. Will be interesting to know how things are going in Taiwan and if trade is holding up well in Hong Kong compared with the first half of 2014.

[zangdook] 03/11/2015 12:46

More tiny trades coming through slowly - 10 or 20k shares.

[noirua] 20/10/2015 08:52

Very light trading is putting the stock price under pressure again. Uncertainty after the extra £450k expenditure in Taiwan, causing lower profits last time out, remains a strong factor.
The wide real market spread by MMs is a very negative factor.

[zangdook] 13/10/2015 11:25

Lots of teeny tiny little buys this morning. Still enough to move the price. It's all good.

[bernieboy] 12/10/2015 08:48

Thanks for the feedback Noirua. Yeah I think they look really undervalued and have been topping up. Easy 5 bagger when sentiment towards Russia turns imo. Sorry for the off topic UVEL.......

[noirua] 12/10/2015 01:18

Off topic - Not holding any ZOL Bernie Boy. I got out before the big drop at about 180p - interesting under 50p a share so may make a move quite soon. New management looks better but Russian style stocks are not flavour of the year just yet.

[bernieboy] 10/10/2015 11:43

Thanks Noirua. Good website. Seems like we got more than I expected really with our LSH shares. I was just thinking about the mall - but there is so much more going on than just that! By the way do you still hold ZOL or did you sellout there?

[noirua] 09/10/2015 10:35

LSH website up and running. Probably needed the AGM to be passed

[zangdook] 06/10/2015 16:02

I didn't realise Nick Lyth was a director of a third company as well as UVEL and TAIH. Well, was.

[oilyrag] 18/9/2015 10:57

Record date today.

[oilyrag] 17/9/2015 10:09

Some people it would seem don't want to collect their dividends?

[noirua] 17/9/2015 08:11

UVEL shares went ex dividend today ( HK0.39c = 0.0324p) - yield at 0.65p is 4.98%.

[bernieboy] 14/9/2015 07:54

I will post any reply - or hopefully a new better researched article if one arises! :-)

[bernieboy] 14/9/2015 07:53

Here is the latest comment from myself courtesy of help from Noirua:

Bernie F 14 September 2015, 07:48 (a few seconds ago)
Thanks for your reply NIgel – I will be very interested in your findings and fully expect a new write-up showing UVEL in a much more positive light and certainly far from being a POS. How many companies on AIM, in fact even on the main market consistently pay dividends!? Even giants such as Glencore are struggling in that department at the moment. Please see some comments by the great Noirua on ADVFN BB. He is probably the most knowledgeable poster on UVEL:

'Now to Nigel’s article on TW’s website And so to the numbers – and the Big Red Flag that is the reported profit which came in at just £0.16 million. That represents a whopping collapse from last year’s number of £1.9 million, a drop of over 90%. hxxp://www.shareprophets.com/views/14905/red-flags-at-night-univision-engineering-limited-awful-final-results Come on now, who has not read the accounts properly? UVEL were forgiven a loan by Mayne that was shown up in the company’s accounts as a profit last year. I wont go into it as it is your job to get it right – go for it old chap. Further, Leader Smart was hived off to shareholders on a one share for one share basis. The asset value of LSH was last given as £12.5 million. UVEL operates in and from Hong Kong under SAR law. As to where companies register, it should be pointed out that the Virgin Companies (Sir Richard Branson) are, over 100 of them, registered in the British Virgin Islands. The former subsidiary of UVEL Leader Smart Holdings is also registered there – ask Sir Richard if he thinks this is OK. Registration in Jersey?, part of Great Britain, and I believe English/Norman as far back as 1066. Some of the expenses refer to the hiving off of Leader Smart and an additional director to become a director of LSH later. Also £400k was spent on updating in Taiwan – problems in Taiwan were flagged about one year ago. Expenses from May this year are set to reduce now LSH is on its own. UVEL have issued no new shares for very many years and no cash raising via placings has taken place. The directors have never been issued any shares or options of any kind and few quoted companies in the UK could beat that. The Chairman was paid no salary in 2014 and can any company on AIM beat that. UVEL are paying a dividend that is up 29% on last year. Fair enough, the dividend in 2013 was much higher but was mainly a reward for shareholders patience over the Guangzhou Arbitration Commission’s eventual decision on the Zhongshan Shopping Mall. I think I’m right to request one if not two apologies from Nigel who does write lively articles but does not always research companies as well as he could.'

[bernieboy] 14/9/2015 07:51

Here is the full article:

AIM-listed Univision Engineering Limited (UVEL) issued its full year results for the year to the end of Mar 2015 at no-one-is-watching o’clock, 5.33pm last night. That is enough of a Red Flag already, but given the recent focus of this website on AIM-China set-ups, I see that this company is registered in Hong Kong. Oh dear…. The results RNS released last night actually appears to be the full audited Annual Report, so Univision does get a plus point for that. But a few more Red Flags appear as we look through the document. For a start the Nomad is ZAI Corporate Finance, which took on the Norfolk that was Naibu while the CEO was in jail. The audit firm is an outfit called HKCMCPA Company Limited which is based in Hong Kong. I tried to visit the auditor’s website to find out who they were, but my anti-virus software went bonkers so that one was left well alone. I do note that on www.privatebanking.com HKCMCPA appears to describe itself as a group of young, energetic and innovative certified public accountants…Hmmm – I’m not sure I like the idea of finding ‘innovative217; ways of presenting accounts! The Company Registrar is in Jersey – why not on the UK mainland? Univision is a long-standing member of the Casino, having joined way back in December 2005 at 3p a share. The stock now changes hands at 0.65p mid-price - hardly a sign of success, given the 78% drop over almost ten years. I also note that 72.9% of this stock is owned by Executive Chairman, Mr Stephen Sin Mo Koo. With a market capitalisation of just £2.5 million (source: ADVFN), that means that only £677,500 worth of shares is in free float – and those will have minimal to no hope of exerting any influence on the company. It all seems so pointless. And so to the numbers - and the Big Red Flag that is the reported profit which came in at just £0.16 million. That represents a whopping collapse from last year’s number of £1.9 million, a drop of over 90%. All released after-hours, at no-one-is-watching o’clock. We also see that turnover is down by about a quarter (with a commensurate decrease in cost of sales) but that the average collection period has risen from 39 days to 52 days. Not a great sign. For a company with annual turnover of about £6.7 million, sweet Fanny Adams in the way of profits and a market capitalisation of only £2.5 million, one would have thought that Administrative Expenses of £1.6 million were rather steep. And so I suppose the first question for the cynic is whether this is just another AIM Casino China Norfolk. I don’t suppose that it is – the company has done almost a ten-year stretch on AIM and I see no sign of it getting parole or time off for good behaviour any time soon. But since we know that the market doesn’t trust AIM-China companies, I note that although the company is (just) profitable and has net assets of £5.6 million, and net current assets of £2.6 million it would appear that a market capitalisation of £2.5 million discounts rather a lot! With the company is trading at a (small) discount to net current assets and a 55% discount to net assets, the market is ascribing a negative value to the future profits! This may not be a Norfolk. But it is a Bargepole stock: bag of crisps, anyone? - See more at: hxxp://www.shareprophets.com/views/14905/red-flags-at-night-univision-engineering-limited-awful-final-results#sthash.UtPdJ4EY.dpuf

[bernieboy] 14/9/2015 07:50

Morning all.
As an update - here were the first two comments on the article:

Bernie F 11 September 2015, 15:04
Sorry Nigel – think you are wrong on this one! Dont have time to go into details now – but you are missing some payouts that we have had as dividends as well as a hive off of Leader Smart Engineering. It hasnt been 3p for a long time and many of us are in from 0.25p. Think you needed to research this one a bit better. Will come back when I am not running for the bus!

Nigel Somerville 11 September 2015, 15:38
Bernie – thank you for raising this, I shall revisit. I had noted that the numbers for revenue were from continuing operations, however.

[noirua] 12/9/2015 12:38

Hi Bernie Boy, I leave you to judge what to post on Share Profits and I wont object to anything posted here being pasted there. Any comments made are purely concerning Univision and former subsidiary Leader Smart.
So far, I have never posted on Share Profits and will not be doing so in the near future.

[bernieboy] 12/9/2015 11:26

Actually I should be more correct. Nigel didn't say that he got it wrong but that he noted that revenues were from continuing operations and that he would revisit it. Think your comments might help with that! ;-)

[bernieboy] 12/9/2015 11:08

Noirua - have you posted your comments to the shareprofits website? If not can I post them as your comments? Nigel has replied to my initial comments that he got this one wrong and is going to revisit UVEL. Hopefully we'll get a better right up! By the way I am a Big fan of shareprofits and TW - think that they are spot on. They have made me plenty of money on good stocks like OPTI from 8.7 now 46 and made me sell plenty of dogs like GSR.

[bernieboy] 12/9/2015 10:54

Noirua! Wonderful post sir! ;-)

[zangdook] 11/9/2015 16:11

I'm not willing to register on the site to give them advertising revenue, but the 'teaser' that shows without registering makes it clear that, typically, they've never heard of UVEL before and don't know anything about it:

I see that this company is registered in Hong Kong. Oh dear.

That's the standard of their "journalism".