CDW Holdings

[BlueKelah]

This weeks buyback so far....

19/12 Total Number of shares purchased 585,000 @0.25
20/12 Total Number of shares purchased 593,500 @0.25

By way of Market Acquisition so far 3,978,000 shares, on target to my estimated 7-8million this round

[BlueKelah]

Continue to buy back on 21/22/23/27/28 this month @ ~25c , up to 500-600lots on some days without moving share price, ROFL, what is happening u can guess...

By way of Market Acquisition so far 5,727,100 shares (2.412%) 

- v again  -

[kelvesy]

During the course of the audit of the financial statements for the year ended 31 December 2010, bank transfers in the aggregate amount of RMB210 million (equivalent to approximately US$30,995,000) made by a subsidiary of the Company to a company in the People’s Republic of China during the year ended 31 December 2010
were identified. As described in Note 3 to the financial statements, following investigations taken by the audit committee of the Group, the board of directors had disclosed these bank transfers as “Amounts paid for investment purposes (unauthorised)” and “Repayment of amounts paid for investment purposes (unauthorised)”

http://www.cdw-holding.com.hk/Investor/S...ar2011.pdf
http://www.cdw-holding.com.hk/Investor/C...ar2011.pdf

A definite red flag to me. 

[Image: izw7ew.png] 
[Image: 10p4jl1.png] 

19m / 370.9m shares = 5.1%. Seems dilutive to me.

[BlueKelah]

@kelvesy : Thanks for posting here, however if u look the older posts on this thread, IIRC this old issue has been covered before and management paid themselves a bonus for solving it lol with tighter controls. Pretty sure the japs are not gonna let the China employees pull a fast one on them again. 

It is also well known that they did a lot of sbb in 2014 which they later gave much out as stock options when the share price went up after some very profitable quarters. I am betting we are seeing something similar happen again. 

In any case, this SBB exercise has only cost the company 1.4m+ which is a drop in their cash hoard. Even if you expense this, @25c we are still getting almost getting the rest of the business for free!! so whilst dividend is down, downside is pretty limited and looks like catalyst coming up given whats been reported in the latest quarterly.

-v-

[BlueKelah]

CDW has resumed their SBB before the next quarterly is announced.

http://infopub.sgx.com/Apps?A=COW_CorpAn...e6d772d5c0

Jan 2017
20th - 600lots @ 0.25
23rd - 600lots @ 0.25

total 1200 lots @ 0.25 this year.

ADDIT : wow another 600 lots done @ 0.25 today again in one shot.

-v-

[BlueKelah]

hmm.. no full year results yet? am i missing something or is their accountant sleeping?

[desmondxyz]

hmm.. no full year results yet? am i missing something or is their accountant sleeping?

Preparing GO

[activistasia]

hmm.. no full year results yet? am i missing something or is their accountant sleeping?

It should be out on 7th March according to Bloomberg.

[BlueKelah]

hmm.. no full year results yet? am i missing something or is their accountant sleeping?

Preparing GO

could be something like that brewing.

they have also never been this late with the FY result. Usually it released in the last 2 days of feb reporting period. No profit guidance also means they must be making profit this quarter.

they did mention doing mass production test run to secure the big contract for their new panel product. If it was successful and manage to get it to make for Apple/Foxconn, that's a massive amount of earnings coming in.(lol even warren buffett is into apple now) Plus they cleared out one factory possibly to use it exclusively for the new production run.

also towards end of last year they announced change of lawyer for some subsidiaries twice.

and last week like there was a spike to 28c on no news, could be some insider buying via their kaki...

massive share buy back (not unusual, happened before)

Top 20 shareholders own 78%+ of co. Top holder Mikuni now controls >50% of co.

Company after all is trading around net cash value, if really get the contract with sharp/foxconn/apple even privatising at NAV 38c is a steal for the owner.

Let's see what they are up to.
-v-

[cif5000]

hmm.. no full year results yet? am i missing something or is their accountant sleeping?

Preparing GO

could be something like that brewing.

they have also never been this late with the FY result. Usually it released in the last 2 days of feb reporting period. No profit guidance also means they must be making profit this quarter.

they did mention doing mass production test run to secure the big contract for their new panel product. If it was successful and manage to get it to make for Apple/Foxconn, that's a massive amount of earnings coming in.(lol even warren buffett is into apple now) Plus they cleared out one factory possibly to use it exclusively for the new production run.

also towards end of last year they announced change of lawyer for some subsidiaries twice.

and last week like there was a spike to 28c on no news, could be some insider buying via their kaki...

massive share buy back (not unusual, happened before)

Top 20 shareholders own 78%+ of co. Top holder Mikuni now controls >50% of co.

Company after all is trading around net cash value, if really get the contract with sharp/foxconn/apple even privatising at NAV 38c is a steal for the owner.

Let's see what they are up to.
-v-

Because there's no 29th Feb this year.     

Today will be the last day of the 60-day requirement.