Nam Lee Pressed Metal Industries Limited’s (Nam Lee) FY21 net profit rose 145% yoy to S$15.7m, driven by demand for container refrigeration units. Barring unforeseen circumstances, management guides that Nam Lee should remain profitable in FY22. Nam Lee trades at a historical FY9/21 P/BV of 0.53x and a dividend yield of 5.80. Nam Lee paid dividends in each of the last five years (FY17-21).
Equity Analysis /Singapore
SG : Nam Lee Pressed Metal - FY21 net profit increased 145% yoy
Small Caps Analyst @ CGS-CIMB