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21-04-2018, 07:40 AM
(14-12-2017, 08:10 PM)dydx Wrote: A little piece of good news today from Sinwa's reply to a SGX query...
http://infopub.sgx.com/FileOpen/Sinwa%20...eID=482056
So shareholders can reasonably expect in the next few quarters Sinwa to reverse a total of $2.118m in impairment losses taken previously - which should have a $0.0062 positive impact on EPS. Let's hope Sinwa would pay out this sum as an extra dividend on top of the coming FY17 final dividend. (Note: FY16 final dividend was $0.012/share.)
In the FY17 audited accounts and AR (Note 20, p99/100), Sinwa has received USD1,066k (equivalent to $1.38m) on 5Jan18 and has taken in the gain as an Other Item item (Note 6, p79)...
http://infopub.sgx.com/FileOpen/SINWA%20...eID=497711
Based on the agreed terms in the Deed of Settlement, Morten will pay Sinwa a further US$500,000 within 5 years with an option to extend for 3 years from the date of expiration of the initial 5-year repayment period.
From the Statistics of Shareholdings / Substantial Shareholders (p122/123), I noted FMR LLC / Fidelity Investments - a highly rated U.S.-based investment management services group - now holds a 7.98% interest in Sinwa through its FID Low Priced Stock Fund unit. Not bad for Sinwa!
More info on FMR LLL and FID Low Priced Stock Fund...
https://www.fidelity.com/about-fidelity/overview
https://www.marketwatch.com/investing/fund/flpsx