Tsit Wing International

[dydx]

In the months to come TW should benefit directly from the fallen international coffee prices since Apr11, as lower coffee input prices flow through the business.

Based on the current ICO Composite Indicator price at the USD1.35/lb level.....
http://www.ico.org/prices/pr.htm
, international coffee price has fallen some 28% since Jan12 and is now even lower than the average price of USD1.47 in 2010.....
http://www.ico.org/prices/p2.htm

[wsreader]

There is only one lot done today.
With such low trading volume, how is the company going to implement share buy back?
Porbably most of the buy-backs will be off-market purchases.

While it is good to offer share option scheme to incentivise employees and management, issuing up to 15% and 20% of issued shares is too much, imho.

[freedom]

share option scheme sounds bad. buyback is neutral.

if the controlling shareholders want to collect more share at a reasonable price, why not apply scrip dividend? it is more minority shareholder friendly than share option, especially with discount to market price....

[brattzz]

SGM for 3 proposals...

why not buy-back shares from open market price and award these shares to the employees/mgmt? :O

[brattzz]

anyone went to the SGM? appears good news was announced and prices are creeping up just a little bit...

[ngcheeki]

Purchase of trading of frozen food Biz in HK for HKD 33.6 Mil with a PE of 10.4X (based on net profit of HK$3.2 Mil) and Price to Book of 1.6X (NAV of HKD21 Mil).

Rationale:
The Proposed Acquisition is in line with the Company’s strategy intent to explore other viable business opportunities that can enhance the shareholders’ value over the long term. The Company believes that the Proposed Acquisition presents an opportunity for the Company to acquire new businesses that will improve the performance of the Company. The Proposed Acquisition will also enlarge the range of products and services of the Company and enable it to penetrate the growing of frozen food market in Hong Kong. Furthermore, the Proposed Acquisition is expected to provide the Company with a relatively more stable income stream.
For these reasons, the Board considers the Proposed Acquisition to be in the interest of and beneficial to the Company.

http://info.sgx.com/webcoranncatth.nsf/V...E00149794/$file/Major_Transaction.pdf?openelement

Vested

[brattzz]

I see this as a horziontal intergration, to sell kopi+frozen food together in a "Grab & Go" Concept booths, stalls..etc..

Further strengthening TWG's biz and brand...

+ Positive

[brattzz]

(a) The Group’s turnover for the year ended increased by 13.7% or HK$72.3 million to HK$601.7 million as compared with last year. Coffee and tea and complementary product-milk contributed an increment of HK$36.3 million and HK$15.8 million respectively. Geographically, the increment mainly come from People’s Republic of China (“PRC”) markets as some key chain customers carried out marketing and promotional campaign, especially in September and December, to boost up the sales. Gross profit margin increased from 31.6% to 32.0%, which was mainly due to the Group benefited from the gradual decline of coffee prices.
Distribution costs increased by 2.7% which was in line with increase in sales and also resulted from non-recurring promotional events for our 80th Anniversary.
Other operating income of HK$2.5 million mainly represented foreign exchange gain and other operating expenses of HK$0.9 million solely represented loss on disposal of property, plant and
Page 9 of 13
equipment.
The net profit of the Group amounted to HK$22.5 million, increased by 128.5% as compared with last year.
(b) The financial position of the Group remained healthy. Cash and cash equivalents amounted to HK$94.5 million as at 31 December 2012.

BUT...

No dividend has been declared or recommended.??!!!

[brattzz]

AGM coming up, 10am, 25th April 2013 @ Hilton
Have to send in the proxy form!
Anyone going? PM me to go together!

Questions:
1) Twice yearly Dividends become single dividend payout?
2) Dual Listing?
3) Completion & realistion of Douguan roasting facilities

Resolutions:
1) To issue 50% shares - maybe "2 for 1 bonus...", to increase liquidity of shares...
2) Renewal to Share Buyback - supposedly for Treasury shares...

Not sure if the 2 resolutions means anything meaningful to shareholders.

[cyclone]

AGM coming up, 10am, 25th April 2013 @ Hilton
Have to send in the proxy form!
Anyone going? PM me to go together!

Questions:
1) Twice yearly Dividends become single dividend payout?
2) Dual Listing?
3) Completion & realistion of Douguan roasting facilities

Resolutions:
1) To issue 50% shares - maybe "2 for 1 bonus...", to increase liquidity of shares...
2) Renewal to Share Buyback - supposedly for Treasury shares...

Not sure if the 2 resolutions means anything meaningful to shareholders.

Bro, may you ask the management to post minutes of the meeting as done by Qian Hu Corporation http://info.sgx.com/webcorannc.nsf/Annou...endocument
Thanks.

<vested>