Re:market correction... by MacGyver30th, Jul. 04:11 PM Market is bullish again.. Good trading period from now to early-m...
Re:Map Technology - ... by happin30th, Jul. 03:16 PM MAP is now at 6 cents. Noticed that yesterday's last trade was 1...
Re:Rokko-An Explosiv... by neontet30th, Jul. 07:41 AM all these semicon companies are doing really well.
congrats on s...
market correction by pathfinder30th, Jul. 12:10 AM With all US company result good news ending in 2 weeks time & no ...
Re:Rokko-An Explosiv... by MOSBY29th, Jul. 11:49 PM http://www.remisiers.org/research//dailyex2307.pdf
TP :$0.30...
HWA HONG: Another special dividend!
Written by Leong Chan Teik
Tuesday, 09 March 2010
Hwa Hong has just announced a special dividend of up to 5.05-cent a share.
HWA HONG is a company that is rarely, if at all, touted by analysts and stockbrokers but it has done well for its shareholders by paying them handsome dividends (see chart). The yields in percentage were double digit considering that the stock traded below 50 cents. It last closed at 57 cents.
Last night, the investment holding company, which is into general insurance and a variety of other businesses, announced that it would distribute up toS$33 million as a special dividend.
The money comes from its proposed divestment of Tenet Insurance Company for $95 million cash under a conditional sale and purchase agreement inked yesterday with Sompo Japan Insurance Inc.
Hwa Hong has 653.504 million shares outstanding, which means the $33 million to be distributed will translate into about 5.05 cents a share.
HWA HONG CORP
57 cents
52-week Hi/Lo
59 / 23.1 cents
Dividend yield
24.25%
PE ratio
7.66
Net tangible asset per share
48.19 cents (after Tenet divestment)
Market cap
$373 m
Source: Bloomberg
There may be more to come from the Tenet divestment, which is targeted for completion by the end of May this year.
Hwa Hong said that it is exploring the options available to it in relation to the utilization of the balance of the net proceeds.
These include “a further distribution to its shareholders, reinvestment in its other existing core businesses, reduction of its consolidated gearing and/or utilization for working capital purposes.”
Hwa Hong: Aside from general insurance, it has subsidiaries operating in warehouse rental, packing of edible oil products, general trading in consumer products, and property management and development activities.
It is one of the oldest listed companies on the Singapore Exchange - its IPO was in 1979.
For Hwa Hong’s full announcement last night, click here.
CLUB MEMBERSHIPS
FION PHUA, Tee Up Marketing Enterprises (HP: 9760-5080)
Story Archive 
FION PHUA, Tee Up Marketing Enterprises (HP: 9760-5080)
Dear advertisers...
