Wow! This company now has cash (608mil sgd) that is more than its total equity, or 80% of its market capitalization. Its end FY23 balance sheet also shows that it was negative working capital (inventories + receivables - payables) = 63 + 10 - 138 = -65mil. So there is a high probability that the more it scales, the more negative working capital!
Since it isn't paying out any of its cash as dividends, It must be loading its elephant gun for a takeover target in the near future. Its competitor, Nu Skin has a current market capitalization of ~600mil USD. How about a change from competitor to sister?
21. Dividend
In view of the Group's short and medium term commitment which include but are not limited to, working capital requirements and corporate actions capital needs, as well as taking into consideration the uncertain business climate explained further in Section 4 of Other Information, no dividends have been declared/recommended by the Board for the financial year ended 31 December 2023
BW FY23 results:
https://links.sgx.com/FileOpen/2024%2002...eID=790028
Since it isn't paying out any of its cash as dividends, It must be loading its elephant gun for a takeover target in the near future. Its competitor, Nu Skin has a current market capitalization of ~600mil USD. How about a change from competitor to sister?
21. Dividend
In view of the Group's short and medium term commitment which include but are not limited to, working capital requirements and corporate actions capital needs, as well as taking into consideration the uncertain business climate explained further in Section 4 of Other Information, no dividends have been declared/recommended by the Board for the financial year ended 31 December 2023
BW FY23 results:
https://links.sgx.com/FileOpen/2024%2002...eID=790028