It's the second time in 2 months a research house has taken an interest in Best World. There's more and more recognition of the company's high cashflow business and dividend yield. Maybank issued a non-rated report in Dec 2015:
According to BWL Taiwan’s monthly bulletin, revenue for Taiwan in FY2015 came in at TWD 1,280 m and the target for FY2016 is set at TWD 1,800 m and to be the top 10 DS company in Taiwan.
Taiwan Market Revenue
FY2014 = TWD 530 m
FY2015 = TWD 1,280 m (+ 141%)
FY2016 Target = TWD 1,800 m (and to be Top 10 DS company in Taiwan)
TWD 1,800 m ~ SGD 75 m (using SGD ~ 24 TWD).
SGD 75 m is roughly equivalent to the Group’s entire FY2014 revenue.
If BWL Taiwan could achieve its FY2016 target, many records at the Group level would be broken, including its current record group revenue of SGD 102 m achieved in FY2007.
