Winas (formerly: Sinwa Limited)

[nitro]

Good Q3 results during this period of slow marine & offshore industry

http://sinwaglobal.listedcompany.com/new...YT1X.1.pdf

[Ben]

Sinwa has once again delivered a solid performance despite the harsh marine, O&G environment. Proposed Final + Special dividends of 1.75c translate to a yield of more than 8%! Balance sheet remains strong with minimum debts. Sinwa is one of the most consistent companies in SGX, yet is one of the most unnoticed so far. I am glad I have faithfully hold on to this company, and had in fact taken the rare opportunity of price weakness recently to add a bit more.

[BlueKelah]

Sinwa has once again delivered a solid performance despite the harsh marine, O&G environment. Proposed Final + Special dividends of 1.75c translate to a yield of more than 8%! Balance sheet remains strong with minimum debts. Sinwa is one of the most consistent companies in SGX, yet is one of the most unnoticed so far. I am glad I have faithfully hold on to this company, and had in fact taken the rare opportunity of price weakness recently to add a bit more.

Interim dividends last september of 2.25c was also a lot. It now seems like they are becoming a bit too OPMI friendly. EPS for the year was only 2.84 cents which means they are paying out more than what they are making for this financial year. Starting to look like a capital reduction!! perhaps delisting coming??

The massive increased warehouse space doesn't seem to be much utilized with revenue increasing only 7.9% YoY. Not a bad result, but nothing exciting given all the hype about business booming and needing more warehouse space...

Unlikely to be un-noticed as there has been coverage on it on various stocks websites and forums.

There could also be a lag between low oil price and closing down/idle of rigs which could hit sinwa at a later stage.

[SLC81]

Even after paying out 4 cent this financial year, Sinwa cash holding has actually increase by $2 millions.
They expected better performance in FY16.

[BlueKelah]

Even after paying out 4 cent this financial year, Sinwa cash holding has actually increase by $2 millions.
They expected better performance in FY16.

where do you think the cash is coming from??

[heifien91]

From the results briefing, management has guided for about SGD11.0mn of capex in FY16. I think this will affect Sinwa's ability to maintain its special dividends in the coming year.

More details at http://value-edge.com/2016/02/26/sinwa-l...-briefing/

[SLC81]

Restructuring amid market downturn crucial for offshore players, says Sinwa CEO in the interview with SBR.

http://sbr.com.sg/energy-offshore/news/r...-sinwa-ceo

[cyclone]

Profit Warning for Full Year ended 31 December 2016

Sinwa Limited wishes to announce that, after preliminary assessment of the Group’s draft unaudited financial results for the full year ended 31 December 2016
(“FY2016”), the Group is expected to record a loss in fourth quarter 2016 (“4Q2016”) and FY2016.

The loss in 4Q2016 and FY2016 was wholly due to the impairment loss on asset held for sale.

[white collar]

Share price dropped to 23c upon Profit Warning announcement. Financials released but no price movement hmm.

I thought it wasn't a bad set of results despite the complete write down no? Net Profit $7.9m or ~ $0.023 per share (excluding impairment loss and FX gains). Dividend 1.2c declared translating to ~ 5+% yield. Balance sheet remains healthy with minimum debt. Net cash. Positive free cash flow sustained and continues.. veli gud!

Their new warehousing infrastructure should be ready very soon - March 2017. Hopefully management can execute well by increasing said productivity and operating efficiencies.

Keeping a close eye on this one!

http://infopub.sgx.com/FileOpen/Sinwa%20...eID=440554

[karlmarx]

In spite of the weakness in marine and oil and gas industries, an interim dividend of $0.005 declared on another quarter of stable profits. However, trade receivables grew to $47m, which is slightly more than its quarterly revenue; something to take note of.

http://infopub.sgx.com/FileOpen/Sinwa%20...eID=465942