Cheung Woh Technologies

[sgpunter]

http://infopub.sgx.com/Apps?A=COW_CorpAn...d378c2f61f

Trading halted pending the release of an announcement...wonder what it is...

I am guessing a potential takeover offer but that is just my guess. Regardless of what it is, kudos to the Management as the share price movement and volume did not suggest any information leakage unlike some other counters which may spike up/down pending a trading halt...

[setan]

http://infopub.sgx.com/Apps?A=COW_CorpAn...d378c2f61f

Trading halted pending the release of an announcement...wonder what it is...

I am guessing a potential takeover offer but that is just my guess. Regardless of what it is, kudos to the Management as the share price movement and volume did not suggest any information leakage unlike some other counters which may spike up/down pending a trading halt...

Can it be privatisation?

[RBM]

Best not to raise hopes too high. Last week Thursday Cheung Woh announced an Exchange loss affecting Q4 profits. I'm hoping that today's trading halt announcement is not a pre-text to a "magnification" of that.

Vested (Long Term Vested), RBM

[smallcaps]

FY16 results:

http://infopub.sgx.com/FileOpen/FY2016Re...eID=400808

CLARIFICATION TO PROFIT GUIDANCE RELEASED ON 21 APRIL 2016
The Board of Directors (the “Board”) of Cheung Woh Technologies Ltd (the
“Company”, together with its subsidiaries, collectively the “Group”) refers to the
profit guidance announcement released on 21 April 2016 wherein the Company had
mentioned that the Group expects to report a loss for 4QFY2016 following the
realisation of foreign currency translation differences on the striking-off of a
subsidiary based on preliminary review of the Group’s unaudited financial results for
4QFY2016.

The Company would like to clarify that, after further review, the amount of foreign
currency translation reserve to be realised in the income statement for 4QFY2016 is
substantially lower than the initial computation on 21 April 2016. As a result, the
Group is profitable for 4QFY2016 based on the Group’s unaudited financial results for
4QFY2016.

The Group is profitable for Financial Year 2016.

[brattzz]

sounds like good news?

[dydx]

i thought the FY16 (ended 28Feb16) result is not bad! While the final dividend was cut to $0.0075/share (from $0.01/share previously), based on the company's past track record, I feel that it is still reasonable to expect Cheung Woh to continue its twice-a-year dividend payments.

[dydx]

Interesting development.....
http://financialpr.com.sg/wp-content/upl...l-2016.pdf

[BlueKelah]

Seagate just had a good quarter. Profit up but revenues still down 3.1% . 

Hard-Drive Maker Seagate’s Revenue, Profit Beat Estimates

Western Digital will be reporting tonight...

Cheung Woh has adapted and started making new product baseplates for more advanced helium HDD which is good. But industry trend is moving towards SSDs now and for the moment CW has found itself in a net debt position whilst ramping up baseplate production. Will have to see how that goes before considering this stock.

Back on Radar..

-n v-

[cyclone]

Proposed Disposal of 31.34% of Equity Interest in JiangSu Tysan Precision Engineering Co., Ltd.

Cheung Woh Technologies Ltd announced that the Company has today entered into two sale and purchase agreements with 常熟市中金实业投资有限公司 (Changshushi Zhongjin Industrial Investment Co., Ltd), 常熟市旭宏贸易有限公司 (Changshushi Xuhong Trading Co., Ltd) (collectively, the “Purchasers”) and 苏州市苏园担保有限公司(Suzhou Suyuan Guarantee Co., Ltd) (the “Guarantor”) respectively to dispose 31.34% of the equity interest in 江苏忠明祥和精工股份有限公司 (Jiangsu Tysan Precision Engineering Co., Ltd.), for an aggregate cash consideration of RMB68,004,719 (approximately S$13.95 million)

The Proposed Disposal constitutes a "major transaction" under Rule 1014 of the listing manual of the Singapore Exchange Securities Trading Limited.

The Directors consider that the Proposed Disposal is in the interest of the Company, taking into consideration the following factors:
(a) the Company wishes to exit from the automotive industry in the People’s Republic of China, bearing in mind that competition is intensifying; and
(b) the Proposed Disposal will enable the Company to realise cash and unlock the value in the Company’s investment.

More details in http://infopub.sgx.com/FileOpen/Replacem...eID=479281

[Dosser]

Profit (actually loss) guidance for 3Q FY2018:

http://infopub.sgx.com/Apps?A=COW_CorpAn...e3d9a1ecf6