Small Cap Report - SIM, VNET, MAYG, TCN

Monday, Dec 03 2012 by
5

Here we go again, Monday morning! Not much in the way of results within my remit, but will glance at a couple.

Simigon (LON:SIM) is not something I've looked at before. They are a £7m mkt cap (at 15p/share) Israeli company, which makes flight simulators for civilian and air forces. Their trading statement this morning looks strong, and most of the mkt cap seems to be supported by net cash (NB their accounts are in US dollars though). Personally I don't invest in overseas companies on the AIM market any more, as it seems to me the motivation to List your shares in one of the world's least regulated small cap markets abroad is likely to be questionable in some cases.

Also I have bad memories of losing a hefty wad on an Israeli company called Vigilant Technologies, where I held about 3% of the company, but when things went wrong it proved impossible to speak to anyone in Israeli. All of a sudden calls & messages were ignored, and everybody simultaneously lost the ability to speak English. Whereas had they been in the UK, I could have got in the car and paid them a visit.

Tomorrow should be an interesting day. Interim results are due from Vianet (LON:VNET), one of my largest holdings, and the joint largest position in the model portfolio of my SmallCapValue website. They issued an in line trading statement on 30 Oct, with lots of positive-sounding details (such as previously loss-making subsidiaries moving to breakeven or profit).

Vianet is a classic low PER, high divi yield value situation, but with good growth prospects thrown in for free as well, hence why I am so keen on it. The company has disappointed before, so perhaps that explains the low rating for the moment. There is also a persistent seller in the market, feeding stock out at the end of the day to balance up the market makers. Still, that gives me the opportunity to load up with cheap shares, so it's an opportunity rather than a problem. Hopefully.

May Gurney Integrated Services (LON:MAYG) is also reporting tomorrow, another low PER,…

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SimiGon Ltd is engaged in developing learning, training and simulation technologies and applications for use in professional communities. The Company has developed SIMbox, a personal computer (PC)-based software platform to create, modify, manage and deploy any simulation-based content across a multitude of domains, such as training, research development, operations analysis and entertainment. SIMbox is a three dimensional (3D) simulation engine including software modules that enable users to create new products and content. The Company also provides KnowBook is a training solution for aircrew and organizations. KnowBook includes all types of simulation, knowledge management, mission rehearsal, after action review (AAR), and time management. The Knowbook family consists of AirBook, GroundBook, and MarineBook. In addition, the Company offers AirTrack, which provides passenger inflight entertainment solutions, and D-Brief PC, an offline/real-time debriefing application. more »

LSE Price
9.25p
Change
 
Mkt Cap (£m)
4.7
P/E (fwd)
n/a
Yield (fwd)
n/a

Vianet Group plc is a provider of real time monitoring systems, data management services, and actionable insights for the leisure and vending sectors. The Company's segments include Leisure Services, which includes design, product development, sale and rental of fluid monitoring equipment, data management and related services; Vending, which includes design product development, sale and rental of machine monitoring equipment, data management and related services; Technology, which includes the provision of data management and technology related services, and Fuel Solutions, which includes wet stock analysis and related services. Its Leisure division consists of the core beer monitoring business (including the United States), and gaming machine monitoring. Its subsidiaries include Brulines Trustee Company Limited, Vianet Americas Inc and Vianet Limited. more »

LSE Price
133p
Change
 
Mkt Cap (£m)
37.6
P/E (fwd)
14.2
Yield (fwd)
4.3




  Is LON:SIM fundamentally strong or weak? Find out More »


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About Paul Scott

Paul Scott

I trained as an accountant with a Top 5 firm, but that was so boring that I spent too much time in the 1990s being a disco bunny, and busting moves on the dancefloor, and chilling out with mates back at either my house or theirs, and having a lot of fun!Then spent 8 years as FD for a ladieswear retail chain called "Pilot", leaving on great terms in 2002 - having been a key player in growing the business 10 fold. If the truth be told, I partied pretty hard at the weekends too, so bank reconciliations on Monday mornings were more luck than judgement!! But they were always correct.I got bored with that and decided to become a professional small caps investor in 2002. I made millions, but got too cocky, and lost the lot in 2008, due to excessive gearing. A miserable, wilderness period occurred from 2008-2012.Since then, the sun has begun to shine again! I am now utterly briliant again, and immerse myself in small caps, and am a walking encyclopedia on the subject. I love writing a daily report for Stockopedia.com on most weekday mornings, constantly researching daily results & trading updates for small caps. Cheese! more »

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