NRA Capital

The property developer with a potential 300% upside, according to Tayrona

SINGAPORE (Oct 31): Tayrona Financial believes Malaysia-based property developer Capital World, formerly known as Terratech Group, has a “compelling upside of almost 300%” amid "improving fundamentals that justify a rerating".

Tayrona, the equity research firm formerly known as NRA Capital, values Capital World at $211 million, or 14.7 cents per share – close to four times the stock’s last closing price of 3.7 cents on Oct 30.

Kevin Scully allowed to hold shares of former NRA Capital after MAS appeal

SINGAPORE (Oct 10): Kevin Scully, the founder and former CEO of NRA Capital which has been renamed Tayrona Financial, is allowed to remain a shareholder of the financial advisory firm, the Monetary Authority of Singapore announced on Wednesday.

The variation to the original prohibition order (PO) follows an appeal by Scully to the minister in charge of the regulator, deputy prime minister Tharman Shanmugaratnam.

ISDN poised to keep growing on rise in adoption of robotic surgery systems

SINGAPORE (Aug 13): Tayrona Financial, formerly known as NRA Capital, is keeping its “overweight” call on ISDN Holdings with an unchanged fair value estimate of 32 cents, translating to an upside of close to 49% from its current trading price.

This comes after the precision motion control and integrated engineering solutions provider reported a 62.1% rise in earnings to $4.9 million for the 2Q18 ended June, compared to $3.0 million a year ago.

2Q18 revenue grew 11.0% to $85.9 million, from $77.4 million a year ago.

Serial System spin-off seen as positive

SINGAPORE (May 22): NRA Capital has an “overweight” call on Serial System with a fair value estimate of 24 cents ahead of the proposed spin-off of the group’s Hong Kong and China electronic components distribution business to list on the Hong Kong Stock Exchange (HKSE).

The fair value implies an upside of nearly 45% from Serial System’s current trading price of 16.6 cents.

Outlook remains promising for Megachem even as margins face risks: NRA

SINGAPORE (Apr 30): NRA Capital likes Megachem as a proxy to broad economic growth, and values the counter at $67.9 million or at about 14.7 times FY18F PATMI.

This comes after the specialty chemical solutions provider reported a strong set of results for 2H17, resulting in 88.1% higher FY17 earnings of $4.2 million.

See: Megachem reports 88% rise in FY17 earnings to $4.2 mil on higher sales

New contract win could launch Addvalue into orbit: NRA

SINGAPORE (Apr 27): NRA Capital says Addvalue Technologies is likely to rake in some US$10 million ($13.3 million) in revenue from its first major commercial Inter-Satellite Data Relay System (IDRS) contract win earlier this week.

Addvalue on Wednesday announced it won a contract with a satellite service provider for the customised design and supply of IDRS terminals, which are to be installed on the customer’s fleet of Low Earth Orbiting (LEO) satellites.

Does mDR warrant a second look ahead of expansion into new businesses?

SINGAPORE (Apr 24): NRA Capital says mobile phones distributor mDR could soon be more exciting, as it buys into future growth with a change in business direction.

At an extraordinary general meeting (EGM) this Friday, Apr 27, will seek shareholders’ approval to conduct a rights-cum-warrants issue to raise funds ahead of its planned expansion into new businesses in property and investment.

Analysts bullish on ISDN Holdings with expectations of a stellar FY17

SINGAPORE (Feb 20): NRA Capital and UOB Kay Hian are maintaining their “overweight” and “buy” ratings on ISDN Holdings, respectively, with expectations of strong 4Q17 results from the integrated engineering solutions provider on the back of favourable macro conditions.

In a Tuesday report, NRA Capital analyst Liu Jinshu says he continues to like the stock for its steady financial performance, prospect of higher dividends and its strong balance sheet.

NRA Capital sees Addvalue Tech's star rising with A*Star's help

SINGAPORE (Feb 8): NRA Capital says loss-making satellite communications player Addvalue Technologies could well be back on the growth track soon.

This given its partnership with A*Star, steady progress in the inter-satellite data relay service business as well as expansion in the small vessels market.

Addvalue's partnership with A*Star was recently held up by the Singapore Government as an example of how public and private sector partnerships can speed up the development of solutions based on real industry needs.

Promise of higher dividends mitigate currency risk for LY Corp, says NRA Capital

SINGAPORE (Jan 30): NRA Capital likes LY Corporation, the original design manufacturer of wooden bedroom furniture, for what it sees as a positive mix of growth and dividend plans to come.

While potential appreciation of the Malaysian Ringgit presents a key risk to the group’s profitability, NRA believes this will be mitigated by the promise of a higher 40% payout of PATMI for FY18-20, up 25% from 25% for FY17.

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