*Offical* CWG International Ltd (SGX: ACW)

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hit 1.8
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my fav broker also issued statement on CWG liao! :eek::eek::eek:

CWG INTER LTD: (S$0.178) Purchases and share buybacks gives signal of confidence

09/01/2017, 3 hours ago
CWG International (formerly known as Chiwayland) has made some notable trading activity and share buybacks since Nov 2016.

Executive Chairman and CEO, Qian Jianrong, and Executive Director and CFO, Chua Hwee Song bought 400,000 and 150,000 shares between 9 Nov and 28 Dec last year, at prices between $0.155 and $0.162, lifting their stakes to 74.87% and 0.04%, respectively.

CWG has also conducted share buybacks totalling 2.9m shares at between $0.162 and $0.171 apiece, from 28 Dec to 6 Jan.

On 2 Dec, the property developer was removed from the SGX Watch-list after it maintained its average daily market cap above the minimum $40m level over the preceding six months.

For 3Q16, CWG recorded a net loss of Rmb53.3m, dragging 9M16 loss to Rmb107.5m (9M15: Rmb21.4m).

However, management expects the group to be profitable in FY16, as it will recognise the bulk of sales from the completion of three projects in 4Q16, namely Suzhou Industrial Park Royal Mansion (Phase 1) and Suzhou Royal Palace (Phase 3) in Suzhou and Xuancheng Chiway Top Town (Phase 2, District D) in Xuancheng.

With management's recently-adopted dividend policy that aims to pay an annual DPS of 1¢, CWG is trading at an indicative yield of 5.6%.

Book value at end 3Q16 stood at $0.294/share, giving the stock a P/B of 0.6x.

By Clement Ho
Click to expand...
 
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http://infopub.sgx.com/FileOpen/CWG%20-%20Press%20Release%20to%20FY2016%20Financial%20Results.ashx?App=Announcement&FileID=439350

CWG’s FY2016 PATMI surged 205% to RMB114.8 million;
Proposes inaugural dividend of S$0.01/share
 Revenue for FY2016 rose to RMB4.8 billion, lifted by delivery of two major
property developments in Suzhou with higher average selling prices
 Recorded strong pre-sales of RMB4.6 billion for both its China and Australia
projects in FY2016, with a target to cross the RMB10 billion mark in 2017
 Target delivery of 6 projects with an estimated total saleable gross development
value of RMB5.5 billion in 2017
 On track to expand fund management unit to take on greater role in financing its growth in the international markets
 
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RookieTrader said:
Those missed the boat no chance to buy and huat tomorrow, right?
Click to expand...

Depend on your type of huat, not all is rosy like borrowing increase to pay for financing demand of new projects. See below for future:

For 2017, the Group expects to deliver six projects comprising one project in Sydney, two projects in our core
market of Suzhou, and the remainder in the Rest of China market - one project in Shanghai, one project in Xuzhou
and one project in Xuancheng - with a total gross development value of RMB5.5 billion.
In addition, the Group will continue to expand and scale its fund management business so as to capitalise on
external funds for its property development projects, particularly in the international markets. Richmont Capital
has launched a total of seven funds, with a total fund size in excess of RMB700.0 million, with the proceeds of
four of these funds utilised for the Group’s international expansion plans.
Beyond property development, the Group seeks to generate higher recurrent income to provide earnings stability.
The Group announced on 2 November 2016 its intention to expand its fund management activities beyond China.
This will allow the Group to more effectively expand its property development business beyond the residential
segment and to undertake projects in other segments. The Group has a track record of building education campuses
and international schools in the PRC. Within the larger group, our sister company has experience in running
business internationally, which includes a US aviation school that was acquired recently. The Group has submitted
its circular to obtain shareholders’ mandate to expand its fund management unit to SGX for approval, and will
hold an EGM for this purpose thereafter.
 
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Sometimes market are slow to react. Super 800 posted good results and then the market react after 1pm. Or maybe they know something I don't. :s13:
 
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