Winas (formerly: Sinwa Limited)

[Ben]

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.

From what I know, they have been doing biz in Thailand for a few years already. Incorporating a company there is probably because they feel comfortable enough with the prospect in Thailand to establish a permanent establishment there.

Despite bad economics, Sinwa's result has been stable and consistent in the last few quarters, though you are correct to say that it is lacklustre. Patience is needed in this company. There are a few catalysts in the working.

I am also waiting for price to go lower, but so far, it has been resilience.

[dydx]

2Q result just out....
http://infopub.sgx.com/Apps?A=COW_CorpAn...inal_2.pdf [result announcement]
http://infopub.sgx.com/Apps?A=COW_CorpAn..._Final.pdf [press release]

Very nice! This is again like music to the ears!

[SLC81]

2Q result just out....
http://infopub.sgx.com/Apps?A=COW_CorpAn...inal_2.pdf [result announcement]
http://infopub.sgx.com/Apps?A=COW_CorpAn..._Final.pdf [press release]

Very nice! This is again like music to the ears!

Very nice indeed, Dydx. Good results and lovely 2.25 cents special dividend.
More may come :-)

[dydx]

I suppose the just declared $0.0225/share interim special dividend may not be all for this FY15. Based on Sinwa's track record, the company has also paid out a final dividend in the month of May for each of the last 4 FY's (i.e. FY11 to FY14), ranging from $0.005/share to $0.015/share. In fact, Sinwa has paid out a total of $0.095/share (including the just declared $0.0225/share special dividend) in 7 dividend payments from May12. I suppose we can say that Sinwa is already one of the "dividend machines" on SGX.

[desmondxyz]

I suppose the just declared $0.0225/share interim special dividend may not be all for this FY15. Based on Sinwa's track record, the company has also paid out a final dividend in the month of May for each of the last 4 FY's (i.e. FY11 to FY14), ranging from $0.005/share to $0.015/share. In fact, Sinwa has paid out a total of $0.095/share (including the just declared $0.0225/share special dividend) in 7 dividend payments from May12. I suppose we can say that Sinwa is already one of the "dividend machines" on SGX.

I'm wondering if the payout rate is sustainable. They are paying more than they earned, i.e. depleting their cash pile...Macro doesn't look good, sinwa wont be exceptional....

[Ben]

I suppose the just declared $0.0225/share interim special dividend may not be all for this FY15. Based on Sinwa's track record, the company has also paid out a final dividend in the month of May for each of the last 4 FY's (i.e. FY11 to FY14), ranging from $0.005/share to $0.015/share. In fact, Sinwa has paid out a total of $0.095/share (including the just declared $0.0225/share special dividend) in 7 dividend payments from May12. I suppose we can say that Sinwa is already one of the "dividend machines" on SGX.

I'm wondering if the payout rate is sustainable. They are paying more than they earned, i.e. depleting their cash pile...Macro doesn't look good, sinwa wont be exceptional....

The company must have already assess its cash needs and its cash generation ability before making another special dividends within such a short time frame. It is reasonable to expect another special payout when NIL is finally resolve. But most importantly, ever since the company decided to focus on its core marine supplies businesses, it performance has been steady improving qoq and yoy. Therefore, it pays to stay invested in a steady company that still offers the potential of another special dividends, on top of regular dividends.

[dydx]

The latest (published 4Aug15) NextInsight report on Sinwa's 2Q result....
http://www.nextinsight.net/index.php/sto...2-25-cents

[SLC81]

Business must be good going forward for Sinw. Paying special dividend and expanding the warehouse 3 times.

Sinwa said the redevelopment of a warehouse building in Joo Koon Road is expected to cost $10.5 million, including the construction of freezer and chiller facilities, the plant, and equipment. The project will more than treble the firm's warehouse space to 5,000 sq m.

[brattzz]

http://www.todayonline.com/singapore/cou...ltant-wife

SINGAPORE — For the second time, a business consultant and his wife will have their membership at the Singapore Swimming Club reinstated, after a suspension imposed by the club — on the basis that Mr Mike Sim’s conviction for insider trading could embarrass the club — was overturned in court.

On top of regaining their club membership, the three Court of Appeal judges — Sundaresh Menon, Andrew Phang and Chan Sek Keong — also ordered the club to pay Mr Sim and his wife about S$30,000 in damages.

The couple’s tussle with the club began in 2013, a year after Mr Sim was convicted of insider trading.

He had used his girlfriend’s account to sell Sinwa shares based on information that was not yet publicly available. Mr Sim had been the executive chairman of the mainboard-listed company.

[Ben]

Congrats to Mike Sim! Now, let's hope the legal case with NIL will also be concluded soon, and in Sinwa favour