Fu Yu Corporation

UOB initiates Fu Yu Corp at 'buy' on high and sustainable dividend yield

SINGAPORE (Nov 27): Fu Yu Corp recorded 3Q18 earnings of $4.40 million, almost quadruple that of $1.15 million in 3Q17.

This came on the back of a 4.4% y-o-y increase in revenue to $52.4 million, which brought gross profit for the quarter to $10.6 million.

Other income saw a 31.1% y-o-y increase to $2.27 million, while other operating income was $0.45 million, compared to other operating expenses of $0.85 million last year.

Has Fu Yu Corp's revenue decline bottomed out?

SINGAPORE (May 16): RHB Research is keeping its “neutral” call on Fu Yu Corporation and lowering its target price to 20 cents, from 23 cents previously.

This comes despite Fu Yu posting a 3.2% rise in earnings to $0.5 million for the 1Q ended March, as revenue grew 3.6% to $46.4 million on higher sales from its Singapore and Malaysia operations.

See: Fu Yu Corp posts 3.2% rise in 1Q earnings to $0.5 mil

Fu Yu Corp posts 3.2% rise in 1Q earnings to $0.5 mil

SINGAPORE (May 14): Fu Yu Corporation posts a 3.2% rise in earnings to $0.55 million for the 1Q ended March, from $0.53 million a year ago.

1Q18 revenue grew 3.6% to $46.4 million, from $44.7 million a year ago, driven mainly by higher sales from its Singapore and Malaysia operations.

Singapore revenue rose 10.1% to $10.9 million on higher sales of products in the printing & imaging segment, while Malaysia revenue climbed 15.1% to $8.4 million on higher orders of products in the medical segment.

Fu Yu Corp announces 56.8% lower 4Q earnings of $2.4 mil on other operating expenses

SINGAPORE (Feb 28): Fu Yu Corporation posted 4Q17 earnings of $2.4 million for the 4Q ended Dec 2017, 56.8% down from $5.6 million a year ago on other operating expenses.

Revenue for the quarter grew 8.7% to $52.7 million from $48.5 million, buoyed by higher sales across its operations in Singapore, Malaysia and China.

Gross profit margin expanded to 19.1% compared to 17.3% in 4Q16.

Fu Yu to privatise LCTH for $20.3 mil via selective capital repayment

SINGAPORE (Dec 8): Fu Yu Corporation, the manufacturer of precision plastic components, plans to privatise its subsidiary, LCTH Corporation, through a selective capital repayment exercise (SCR) valued at around RM61.3 million ($20.3 million).

LCTH is listed on Bursa Malaysia and focuses on the precision manufacturing of tools and plastic products in Malaysia. As at 6 Dec, it has a share capital of RM169.9 million comprising 360 million ordinary shares, of which about 254.3 million are owned by Fu Yu to represent an equity interest of 70.64%.

Fu Yu Corp posts 56% lower 3Q earnings but still declares second interim dividend of 0.25 cent

SINGAPORE (Nov 14): Fu Yu Corporation reported a 55.9% decline in 3Q17 earnings to $0.8 million compared to earnings of $1.8 million in the same period a year ago, due to higher operating expenses and a loss of joint venture.

The manufacturer and supplier of high-precision injection moulds and plastic parts posted 4.5% higher revenue of $50.2 million from $48.1 million a year ago on higher sales from the group’s Singapore and Malaysia operations, while sales from its China segment remained steady.

Fu Yu earnings fall 59.7% to $1.3 mil in 1H

SINGAPORE (Aug 11): Fu Yu Corporation posts a 59.7% decline in earnings to $1.3 million for the 1H ended June, from $3.1 million a year ago.

Revenue fell 9.8% to $92.0 million in 1H17, from $102.0 million a year ago.

This was attributed mainly to lower revenue from its Malaysia and China segments, which fell 24.3% and 8.4%, respectively.

Other income fell 21.6% to $3.7 million, compared to $4.7 million a year ago, due mainly to lower grants and gain from sale of plant and equipment.

As at end June, cash and cash equivalents stood at $93.8 million.

Hold on to this stock for attractive dividends, even as 1Q earnings disappoint

SINGAPORE (May 11): RHB has downgraded its call on Fu Yu Corporation from “buy” to “neutral” with a lower target price of 23 cents from 27 cents previously, following a disappointing 1Q17 set of results. 

The fabricator of precision moulds this week posted a 46.3% decline in 1Q earnings to $0.5 million, which was due mainly to a slowdown of sales in China and Malaysia.

Fu Yu ends FY16 with 25.1% lower at $10.5 mil

SINGAPORE (Feb 22): Fu Yu Corporation, the manufacturer of precision plastic parts, posted earnings of $5.6 million in 4Q16, an increase of 44.4% from $3.9 million in 4Q15.

In 4Q16, the group’s revenue softened 3.5% year-on-year to $48.5 million amid slower business conditions. Notwithstanding this, the group achieved higher earnings of the company in 4Q16, driven mainly by a foreign exchange gain versus a foreign exchange loss in 4Q15.

Fu Yu proposes to amalgamate with 2 subsidiaries

SINGAPORE (Jan 17): Fu Yu Corporation has proposed to amalgamate with two of its wholly-owned subsidiaries, Nanotechnology Manufacturing (NTM) and Solidmicron Technologies (SMT), and continue as one company.

Both NTM and SMT are based in Singapore and are mainly involved in manufacturing activities.

In an SGX filing on Tuesday, Fu Yu says this is to streamline the corporate structure and operations of the Group to improve its financial performance through improved operational efficiencies, economies of scale and synergies from better allocation of resources.

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