Willas Array has caught my attention with its 61% jump in net profit in 1H of this year which was 6 months ended 30 September.
If I double the half-year EPS for the whole year, it will be around 6 Singapore cents ---- so the PE is only 3X if I divide current stock price of 18 cents by 6.
Willas has not caught the eye of the market yet. Still 18.5 cents.
Maybe the results reporting season will trigger a run-up if the market thinks the 4Q will be excellent just as its first 9 months were.
Willas-Array proposes 1-for-5 rights issue to finance business expansion and strengthen working capital
• Plans to raise between S$5.9 million to S$8 million in net proceeds
• Issue price of S$0.12 represents a discount of approximately 35% to the closing price
of S$0.185 on 26 January 2011.
One thing that puzzel me.
The give dividend 1.65 cents.
Two month ago they issue new share at 12 cents 1 for 5 shares.
Basically waste all the admin charge and banker charge for issuing share.
Get money from shareholder by issuing new share and GIVE Back to shareholder by giving dividend.
Should just don't issue share and give dividend. This is Hokkien called LAN PA PA LAN
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