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05-04-2013, 10:21 AM
Obviously the company has paid a dear price for the wrong ventures, and I hope they learnt from these million dollars mistakes and have better “business foresight” now. Somehow I feel that they are the victim of they own success. For years, they are quite successful in building up their main business, increasing their operational coverage both in depth and width. Sales have grown remarkably since 2002. However, their bottom line growth could not match the top line growth, and this is probably because the industry is very competitive. So instead of be contented with slow and stable growth, they probably got a little adventurous and venture into the more glamorous offshore sector which proved to be unsuccessful due to lack of expertise, instead of foresight.
Now that they are back to where they started, I am giving them a benefit of doubts that they can continue to be profitable from now on, if not every years, at least most of the years. I hope to see them increasing their operation presence in the AP region, building on their already extensive network. The ang-mo is now the CEO, but it is obvious Mike Sim is still the man in control. He is the man who brings Sinwa from where it was to where it is now. Of course, he is also the man who makes the few million dollar mistakes. On balance, I think he has done more goods to the company than bad.
I am in for the long haul, as long as the company is profitable & growing (ok if it is slow growth), with a track record of dividends payment, I am not too concern with the share price movement or liquidity of trading.
These are all my personal opinion.
Now that they are back to where they started, I am giving them a benefit of doubts that they can continue to be profitable from now on, if not every years, at least most of the years. I hope to see them increasing their operation presence in the AP region, building on their already extensive network. The ang-mo is now the CEO, but it is obvious Mike Sim is still the man in control. He is the man who brings Sinwa from where it was to where it is now. Of course, he is also the man who makes the few million dollar mistakes. On balance, I think he has done more goods to the company than bad.
I am in for the long haul, as long as the company is profitable & growing (ok if it is slow growth), with a track record of dividends payment, I am not too concern with the share price movement or liquidity of trading.
These are all my personal opinion.