Kingsmen’s share price – SGD0.51 as of 16 August is trading below net tangible assets (SGD0.54) again which seems very cheap for a service company.
Kingsmen reported mixed 2Q19 results – revenue up 12% year on year but net profit down 38% year on year mainly because of forex issues. The interim dividend has been kept constant so the trailing dividend yield is 4.9%. Although the results weren’t great, I don’t think it justifies Kingsmen trading below NTA. I’m going to wait and see the outcome of their developing attractions business.
NERF Marina Square looks promising! The posters on the Marina Square storefront are already up and Kingsmen is advertising on buses and Facebook.
Kingsmen is also promoting their Marina Square NERF attraction with SAFRA which should be a good fit. The marketing video looks pretty impressive and there’s already a listing on Tripadvisor. I’m hoping Kingsmen will be
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