Zero final dividend! Best World has achieved a milestone in its listing history.
Never before has it failed to pay a final dividend.

One positive is the $1.565 m net profit in 4Q. If only they can repeat this every quarter = $6.3 million net profit for the full year.

For some reasons, there is still strong buying interest even when the market is correcting.....

Zzzzzzzzzzzzzz......

The stock has woken up.  This a stock for value investors who can Zzzzzzzzzzzzzzzzz on this.

Cash S$30 m. No bank borrowing.
Market cap now S$40 m. Stock now 19.6 cents.

Results next Monday -- scrutinise its cash balance. Will it cut its final dividend? Is 4Q profit a turnaround from those past lousy quarters?

Best World once captured the hearts of many value investors, mainly because of its high gross margins, its highly scalable business and low capex.

Gay Chee Cheong, and Jason Wee were major shareholders, as this article reports:

http://nextinsight.net/index.php/story-archive-mainmenu-60/36-2009/1061-best-world-jel-interesting-shareholders
BEST WORLD, JEL: Interesting shareholders


There is a chart that shows Best World was trading at about $1 in late 2007 before the global financial crisis broke out. It's such a pretty level. Since then, it has lost its way. For some reason or other, the management (Doreen, Dora & Huang) has not been delivering results ever since. Things took a turn for the worse in 2011, and the stock has sunk to levels that are shocking.

Only in recent days, playing catch up in the great penny stock rally, has Best World moved up a few cents. The next set of results are due soon. I don’t think it will be a turnaround story.

Touch 20c yesterday. That is more than 30% from recent trading price of 15c. Turning around and breaking out soon?

Surged 13.2% today!

In this market, every Ah Kow and his mother are looking for stocks that can make 20% in a few days. No time for snoozing.

Zzzzzzzzzzzzzz......

A stock for value investors who can Zzzzzzzzzzzzzzzzz on this.

Cash S$30 m. No bank borrowing.
Market cap S$32 m.

No good news, no share buyback & no new product launch. Too quiet. Flood in Thailand may affect thier business there. Taiwan and Vietnam should continue to grow strongly but will not be able to make up for the poor showing in Malaysia and Indonesia. Only the $33m cash make me feel good!

There is some pick-up in buying of Best World today. It's been a lousy stock..... the 3Q result could give it a sparkle. Balance sheet -- make sure to check the cash balance. If it's still ard S$33 million cash then it's even more than the market cap of $31 m. Perhaps that's why got buying interest today in a depressed market. Would like to hear the views of 'Bestworld' and other experts.

Yield should be way above 6.3% if 1.2c is declared since this is only HY....but I think more important is that will the company be able to return into BLACK and growth!!

$33 millions cash....but only buy back few lots here and there....this is a clear indication that the business is still NOT well.

Cash $33 million = 85% of market capitalisation of $39 million of Best World. Which makes it a value stock to some fundamental investors.

The stock saw some firm buying today. 510,000 traded.
Closed at 19 cents. This is on my radar screen --- looking at its performance pre-2008 crisis years, it was a market darling.

Can it regain its magic? i am not sure if that can happen soon. 1Q was a small loss, which was a shock as this business has never lost money in any FY. Waiting to see how 2Q goes.

The company is too hesitant in its share buyback. Bought just a bit here & there. With its cash hoard of $33 million, it can afford to be more aggressive and send out a strong signal of support for the stock. It has failed to do so. Could it be because the earnings recovery ain't in sight?

The forgotten stock has S$32 million cash,  practically no debt. Compare that with its market cap of $41 million and you know why the company has been doing some share buyback, and insiders have been buying.

Having said that, however, the business suffered a small loss in 1Q. And there is no strong signal of a return to 'normal' profitability. No earnings recovery is bad news and raised the Q: Will it gv its normal 1.2 cent interim dividend?

I have almost forgotten that this company existed. Suddenly, see its announcement about buying back its own shares: total of  227,000 today. OMG, the stock has gone down to just over 20 cents????? What happened ?

Bestworld, you still hot about this babe?

Net Cash of almost 18c per share. At 26c, minus the cash only per 8c per share, worst the risk?

Image of write-up in BT today, fyi:

 http://img717.imageshack.us/i/bwi1.jpg/

Think still buying back shares today. ANyone care to comment about their share buyback?

Last year Q1 was bad.......if this year cannot do better then last year....then not worth investing in it!!

Out of the blue (the blue yonder), after being absent for so long, Best World launched its buyback scheme, eating up 101,000 shares today and accounting for 53% of the trades done.

The stock at 26 cents is a bargain and I believe this is a signal of an improved 1Q result and beyond. provided, of course, that the buyback is sustained - instead of a fickle attempt to nibble now & then.

http://sgvalue.blogspot.com/search/label/Best%20World

 We continue to like Best World International as a proxy to emerging Asian consumption, especially with its presence in Indonesia. Import regulations have hurt revenue in the near term, but we think that things will be substantially better in 2H10 with more product approvals granted. We like the business for its ability to generate strong cashflow, and the quality of management is decent.

I believe Q1 FY11 should be much better than Q1 FY10.....unless BW gives surprises again...which they are quite good at!!

This one could do well if it can deliver Q1 profit, signalling a turnaround that is for real.

Meantime, just enjoy the 1 c final dividend (+1.25 interim) that is coming.....

For a 27 cent stock, the yield is pretty cool at 8.3%.

Despite a lousy year in 2010, the cash balance is fantastic at S$37 million which is unchanged from 2009. On top of that, they maintained their dividend payout in absolute terms and it was a huge jump relative to the profit.

This powerpoint does give an encouraging out look for the coming quarters

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_0E2ACC971E878633482578400027B108/$file/FY2010ResultsBriefing.pdf?openelement

Revenue and profit surged in Q4, attractive dividend, the worst seems to be over......but share price continue to drop! Interesting!

The balance sheet looks solid with lots of cash and current assets.

Finally.....a pleasant surprise. Revenue and profit surge on a Q to Q basis...hope to see more pleasant surprise like this!

Results coming today or tomorrow?
If only they would not surprise on the downside...... which is what they have been doing in the past 1 year. My buddy says can only hope they give a decent final dividend and turn around in 2011.