World Precision Machinery

Looks like another Portek in the making! Take care :laugh: :laugh:

First Strike; Bright World: Soft 4Q08; but far from inundation Bright World (BWPM) reported a set of 4QFY08 results that were below our expectations, with revenue down 12.5% YoY (-21.8% QoQ) at RMB127.6m and net profit down 62.9% YoY (-46.9% QoQ) at RMB18.4m. For FY08, however, revenue of RMB642.6m (+13.5%) was just 3.6% shy of our FY08 forecast, while the net income of RMB131.9m (-8.6%) was 8.6% short of our figure. Going forward, BWPM remains optimistic about the long-term prospects of its businesses and the metal stamping machine industry in PRC. We believe that capital equipment manufacturers including the group are likely to encounter further slowdown on the back of a sputtering global economy. Our last call on the stock was a BUY, with a view to accept the offer. However, there are now some uncertainties on the offeror\'s part in terms of fulfilling the pre-conditions for the deal to go through. We are STOPPING COVERAGE on BWPM due to reallocation of resources, anticipated weak global demand and lack of regular daily trading liquidity in the stock.

I cant comment about the uncertainties on the offeror\'s part. All I know is that Bright world has met all requirements regarding the profit and assets. The ball is now in CHAC\'s court. Go to my blog below for more www.level13-analysis.blogspot.com/ Cheers!

Whopper dividend: 3 cents a share, when the stock price is only 19.5 cents today. Dividend yield = 15%. This S-chip is different from others in being generous to minority shareholders. Tomorrow morning, the stock sure rise by around 3 cents to 22.5 or so cents, at least. Wonder dividend! The profits were down for the full year but the 4Q was a recovery.

First thing in the morning, up 2 cents! Now 21.5 cents. Wonder if the business fundamentals are great - cos this stock must have good prospects otherwise why did the management propose such a big dividend? From this thread, it appears that there was a general offer at 70 cents two years ago. My! :dry:

I was wondering why Bright World is giving 3 cents as dividend, which is a very good yield of 15% yield based on current stock price of 20-21 cents. The results statement: a) Advances by customers for sales order has jumped from 14.9 m to 38.5 m as at year end 09 (compared to a year ago). Sign of business recovery. b) trade payables by Bright World has jumped 35% as the company made more purchases of raw materials. Another sign of biz recovery.