Fu Yu Corp

Fu Yu posts 13.6% drop in 2Q earnings to $3.5 mil on lower foreign exchange gain

SINGAPORE (Aug 13): Fu Yu Corp reported 2Q19 earnings fell by 13.8% to $3.5 million from $4.0 million in 2Q18.

However, group earnings for 1H19 increased 10.7% to $5.0 million from $4.6 million in 1H18.

In 2Q19, revenue growth was flattish, dropping 1.5% to $50.1 million from $50.8 million a year ago.

Singapore braces for delistings to continue even after rule fix

(July 25): Singapore’s stock market has seen on average two companies a month on track to relinquish their listing status this year. This trend may not be reversing anytime soon.

The Singapore exchange tweaked the voluntary delisting rules earlier this month, shifting the power to minority shareholders. Market watchers have said bidders may have to pay higher premiums to get deals done.

Fu Yu gets a 'hold' on M&A and trade war risks: CGS-CIMB

SINGAPORE (Feb 28): CGS-CIMB Research continues to rate Fu Yu Corp “hold” with a target price of 20 cents.

This came on the back of the group announcing that its 4Q19 earnings increased by 21.7% y-o-y to $2.9 million, despite an 8.8% drop in revenue to $48.1 million.

Meanwhile, FY18 earnings more than doubled to $11.9 million, with revenue sporting a slight increase of 1.4% y-oy- to $197.7 million.

Fu Yu’s board has also proposed a final dividend of 1.0 cents per share.

The group’s FY18 net profit came in above estimates, while revenue was in line.

3 defensive plays to tide investors over a volatile 2019: RHB

SINGAPORE (Jan 23): RHB Research has an “overweight” rating on banks for the sector’s strong growth and high yields; the consumer and industrial space as defensive sector picks; as well as REITs that are beneficiaries of improving economic activity, and/or with strong balance sheets.

Market valuations may be inexpensive but stay defensive: RHB

SINGAPORE (Jan 2): RHB Research prefers to stay selective and defensive amid growth uncertainties in 2019.

The Straits Times Index (STI), down 12% in USD terms, could remain under pressure this year amid slowing GDP growth and an uncertain trade outlook due to China-US tensions.

In a Wednesday report, analyst Shekhar Jaiswal says, “While 12.6x forward P/E and 4.2% dividend yield make the STI’s valuations look compelling, we recommend investors stay selective and focus on buying stocks offering stable earnings, strong balance sheets, and sustainable dividends.”

CGS-CIMB starts coverage of plastic components supplier Fu Yu Corp

SINGAPORE (Sept 28): CGS-CIMB is initiating coverage on Fu Yu Corp with a "hold" and target price of $0.17, based on historical 10-year average of 0.8 times forward book value.

Fu Yu is a one-stop plastic components supplier with more than 40 years’ experience. The group has been back in the black since FY13 thanks to its restructuring efforts. In FY15, it had resumed dividend payments.

Fu Yu Corp is attractive compared to peers, but not without risks

SINGAPORE (Jan 10): CIMB Research likes Fu Yu Corp for its reputation as an established plastic injection specialist as well as its diverse customer base, strong balance sheet and attractive historical valuations based on the research house’s preliminary assessment.

The company is currently in the midst of privatising its Malaysia-listed subsidiary, LCTH Corporation, through a selective capital repayment exercise.

Fu Yu reports 46.3% fall in 1Q earnings to $0.5 mil

SINGAPORE (May 9): Fu Yu Corp, the fabricator of precision moulds, reported 1Q earnings nearly halved to $531,000 from $989,000 a year ago.

For the three months ended March, group revenue declined 14% to $44.7 million from $52 million a year ago due mainly to slower customer demand amid the global economic uncertainties and uneven business environment.

STI closes 0.14% lower at 2,850.74

SINGAPORE (Sept 21): Singapore stocks closed weaker on Wednesday, ending the day lower despite an early recovery driven by an unconventional monetary policy decision in Japan.

About 1.5 billion shares valued at $944 million were traded during the session. Gainers  outnumbered losers 221 to 150.

Growth on the horizon for Fu Yu Corp after 3-year decline

Fu Yu Corp logo

SINGAPORE (Sept 21): Fu Yu Corporation says its revenue decline over the past three years will see a reversal by early FY17, after bottoming out in FY16.

The precision injection moulds and plastic parts provider explained that its gross margins have risen from 7.1% in FY11 to 16.7% in 1HFY16. In addition, it posted a positive growth in core earnings in FY14 and FY15, even as group revenue continued to slide for the past three consecutive years.

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