Wing Tai Holdings

Wing Tai reports earnings of $63.3 million, up 18% y-o-y on higher JV companies contributions - THE EDGE SINGAPORE

Results

Wing Tai reports earnings of $63.3 million for 1HFY2023, up 18% y-o-y on higher JV companies contributions

Wing Tai’s share of profits from associated and JV companies was $33.4 million in 1HFY2023, 55% higher y-o-y.

Insider moves

Wing Tai in buybacks after Fidelity trims stake; Straits Trading director buys more shares

In line with the better earnings, Wing Tai has declared higher dividends.

Property

Wing Tai subsidiary disposes of Malaysian property for $1.8 mil

As at Sept 20, the property’s net book value was around RM3.8 million.
State of the SGD corporate perpetual market - THE EDGE SINGAPORE

Bonds and treasuries

State of the SGD corporate perpetual market

Diamonds are forever, perpetuals may be likewise.

Company in the news

Wing Tai China acquires 50% remaining shares in Winnoma Investment for $25.6 mil

Post-acquisition, Winnoma will become a wholly-owned subsidiary of WTC.
Wing Tai 'taking flight' with FY2022 results, dividends a 'positive surprise': DBS - THE EDGE SINGAPORE

Broker's Calls

Wing Tai 'taking flight' with FY2022 results, dividends a 'positive surprise': DBS

The DBS analysts have maintained their “buy” call and TP of $2.05.

Results

Wing Tai reports 222% surge in FY2022 earnings of $140.2 mil from higher contributions from associated and JV companies

Wing Tai has declared a total dividend of 6 cents per share for the FY2022.

Broker's Calls

DBS starts Wing Tai at 'buy' with TP of $2.05

Potential catalysts to Wing Tai’s share price include successful GLS and en bloc tenders: DBS.
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