Hupsteel

On Friday, Hupsteel’s controlling Lim family announced an offer to take the company private after more than 25 years as a public listed company. The $1.20 per share offer is conditional upon the offeror holding at least 90% of the shares as at the close of the offer. (Announcement here) The Lim family currently controls […]

Last week’s full year results announcement was a welcome relief for Hupsteel shareholders as it probably confirmed that the worst is over for the Company. The improved performance was driven by increased demand for its steel products induced by a higher and more stable oil price. Some key highlights: Our Take​Interestingly, at last year’s AGM,

Just two weeks ago, we stated our belief that Hupsteel’s management will increase efforts towards maximising the value of its investment properties going forward. The ball has already started rolling it seems, as after the close of market today, the Company announced it had given a Letter of Award to redevelop its aging freehold property

Previously in June, we cited the possibility of a renewed interest in steel stockists like Hupsteel and Asia Enterprises following the intriguing developments at HG Metal. While Hupsteel’s share price has returned 12% since then (14% if dividends are included), it is still trading at a substantial 28% discount to just the sum of its

Background Activist fund Quarz Capital Management’s open letter to HG Metal Manufacturing Ltd’s (“HG Metal”) board two weeks ago created quite a buzz, sending the steel stockist’s shares up 21% in just two days. This was preceded by BRC Asia Ltd’s (“BRC Asia”) announcement the day before revealing that certain substantial shareholders have received an