Winas (formerly: Sinwa Limited)

[heifien91]

Sinwa’s share today closed up $0.015 cents, or 5.88% to $0.27 cents, on modest volume but is higher than usual. Is something brewing?

1. Could it be due to the incorporation of a Thai subsidiary? Unlikely because that was announced a few days ago
2. Could it be that the deadlock with its 50/50 JV NIL, is finally going to resolve soon? Maybe.
3. Could it be that people are anticipating a good Q2? Perhaps.

Sinwa’s share price has risen by some 36% over the last one year, as compared to 2% for the STI. If we add back the 4.5 cents dividends paid in FY13, than its shares price would have risen by almost 60%. I think many people carry a false belief that this is a “dead meat” stock.

Certainly, the prospect of Sinwa is getting brighter, and it seems that more people are thinking like me.

While Sinwa may have risen by almost 60%, don't believe it's a "dead meat" stock. Currently the company is more or less fairly valued imo. This company reminds me something Jeremy Deal once said about the dilemma of 'cheap' companies. The gist of it would be that in today's market it is really difficult to find really cheap yet good companies anymore. However, what we can do is find companies with a good business that is fairly valued. Sinwa does seem to really fit this category.

The video can be found below.
http://www.valuewalk.com/2014/07/dilemma...-investor/

[simpleman]

[quote='Ben' pid='88977' dateline='1405436051']
Sinwa’s share today closed up $0.015 cents, or 5.88% to $0.27 cents, on modest volume but is higher than usual. Is something brewing?

1. Could it be due to the incorporation of a Thai subsidiary? Unlikely because that was announced a few days ago
2. Could it be that the deadlock with its 50/50 JV NIL, is finally going to resolve soon? Maybe.
3. Could it be that people are anticipating a good Q2? Perhaps.

Sinwa’s share price has risen by some 36% over the last one year, as compared to 2% for the STI. If we add back the 4.5 cents dividends paid in FY13, than its shares price would have risen by almost 60%. I think many people carry a false belief that this is a “dead meat” stock.

Certainly, the prospect of Sinwa is getting brighter, and it seems that more people are thinking like me.

While Sinwa may have risen by almost 60%, don't believe it's a "dead meat" stock. Currently the company is more or less fairly valued imo. This company reminds me something Jeremy Deal once said about the dilemma of 'cheap' companies. The gist of it would be that in today's market it is really difficult to find really cheap yet good companies anymore. However, what we can do is find companies with a good business that is fairly valued. Sinwa does seem to really fit this category.



If this is indeed the case, Goodpack, whose share price was around $1.80 for an extended period, should not have attracted an offer of $2.50.

While the market index is not low, there are still under-value companies, especially those not covered by broking firms. Investors do not know every company.

[heifien91]

[quote='Ben' pid='88977' dateline='1405436051']
Sinwa’s share today closed up $0.015 cents, or 5.88% to $0.27 cents, on modest volume but is higher than usual. Is something brewing?

1. Could it be due to the incorporation of a Thai subsidiary? Unlikely because that was announced a few days ago
2. Could it be that the deadlock with its 50/50 JV NIL, is finally going to resolve soon? Maybe.
3. Could it be that people are anticipating a good Q2? Perhaps.

Sinwa’s share price has risen by some 36% over the last one year, as compared to 2% for the STI. If we add back the 4.5 cents dividends paid in FY13, than its shares price would have risen by almost 60%. I think many people carry a false belief that this is a “dead meat” stock.

Certainly, the prospect of Sinwa is getting brighter, and it seems that more people are thinking like me.

While Sinwa may have risen by almost 60%, don't believe it's a "dead meat" stock. Currently the company is more or less fairly valued imo. This company reminds me something Jeremy Deal once said about the dilemma of 'cheap' companies. The gist of it would be that in today's market it is really difficult to find really cheap yet good companies anymore. However, what we can do is find companies with a good business that is fairly valued. Sinwa does seem to really fit this category.



If this is indeed the case, Goodpack, whose share price was around $1.80 for an extended period, should not have attracted an offer of $2.50.

While the market index is not low, there are still under-value companies, especially those not covered by broking firms. Investors do not know every company.

What is value? Really depends on how each and every one of us derives its intrinsic value I guess. If I am not wrong Jeremy Deal might be referring to Graham's version of undervalued stocks, where companies are trading below its NCAV. Never looked at Goodpack before, hence I cant comment on that acquisition. That said, definitely Singapore still has its fair share of undervalued companies.

[simpleman]

[quote='Ben' pid='88977' dateline='1405436051']
Sinwa’s share today closed up $0.015 cents, or 5.88% to $0.27 cents, on modest volume but is higher than usual. Is something brewing?

1. Could it be due to the incorporation of a Thai subsidiary? Unlikely because that was announced a few days ago
2. Could it be that the deadlock with its 50/50 JV NIL, is finally going to resolve soon? Maybe.
3. Could it be that people are anticipating a good Q2? Perhaps.

Sinwa’s share price has risen by some 36% over the last one year, as compared to 2% for the STI. If we add back the 4.5 cents dividends paid in FY13, than its shares price would have risen by almost 60%. I think many people carry a false belief that this is a “dead meat” stock.

Certainly, the prospect of Sinwa is getting brighter, and it seems that more people are thinking like me.

While Sinwa may have risen by almost 60%, don't believe it's a "dead meat" stock. Currently the company is more or less fairly valued imo. This company reminds me something Jeremy Deal once said about the dilemma of 'cheap' companies. The gist of it would be that in today's market it is really difficult to find really cheap yet good companies anymore. However, what we can do is find companies with a good business that is fairly valued. Sinwa does seem to really fit this category.



If this is indeed the case, Goodpack, whose share price was around $1.80 for an extended period, should not have attracted an offer of $2.50.

While the market index is not low, there are still under-value companies, especially those not covered by broking firms. Investors do not know every company.

What is value? Really depends on how each and every one of us derives its intrinsic value I guess. If I am not wrong Jeremy Deal might be referring to Graham's version of undervalued stocks, where companies are trading below its NCAV. Never looked at Goodpack before, hence I cant comment on that acquisition. That said, definitely Singapore still has its fair share of undervalued companies.

Thank you hiefein91.
Since you have studied Sinwa before, can I have your basis of your stand that Sinwa is not under-valued.
I have monitored Sinwa for a while, but have not been able to assess whether Sinwa can get $15m when it sells its 50% stake in NIL to the JV partner.
In your analysis, did you assume that Sinwa can get $15m, or just a small part of it?

[SLC81]

Sinwa Result is out, 1.75 Cents special + Interim dividend

http://sinwaglobal.listedcompany.com/new...110814.pdf

" Net Profit up 21.9% to S$5.9m for HY2014... In view of our strong financial position and to reward our shareholders, we have
declared a dividend of 1.75 cents per share.”

[brattzz]

excellent!! generous dividends too! whooo hooo!

[Ben]

The pattern is clear now. Sinwa is returning excess money it does not need back to SH. It also means that we can expect another special dividends when the issue with NIL is resolved. All these on the back of its improving marine supplies business, and should put a smile on all long term SHs.

[dydx]

A steady Q1, with the usual predictable earnings and positive FCF from the well-established marine and offshore Supply business.....
http://infopub.sgx.com/FileOpen/Sinwa%20...eID=348610

[BlueKelah]

A steady Q1, with the usual predictable earnings and positive FCF from the well-established marine and offshore Supply business.....
http://infopub.sgx.com/FileOpen/Sinwa%20...eID=348610

thanks for updating,

in other words,
another quarter with predictably lacklustre growth in revenue and earnings. looks like thai business is not picking up at all.

Bad industry to be in at the moment, hopefully oil prices continue picking up.

can consider if share price go down some more.

[dydx]

Shareholders should be glad, considering many companies engaged in shipping, oil & gas, and related businesses have performed badly in the past year.

I just counted Sinwa has paid out a total of 6 dividends since May12, amounting to a total of $0.0725/share. Just based on dividends alone, Sinwa has been a great investment for those who have bought in at the $0.12/$0.13 level before or around May12. Based on the last done share price of $0.235, those who have held on to their Sinwa shares since May12 would have enjoyed a total return - dividends plus share price appreciation - in excess of 130%! This is highly satisfactory indeed!