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After a hiatus more than 2 years, YZJSB has started SBB again. To date, they have spent ~30mil in the last 2-3 weeks since Liberation day. This is still much less than the money spent in prior years between 2018-2022.
The majority of the shares bought in earlier years were used to fully owned a subsidiary shipyard and meet the obligations of a 50mil convertible bond. As end FY24, there is plenty of cash on its BS even after all the recent CAPEX announcements (new shipyard + LNG terminal) and the amount of customer deposits has also given it a negative working capital (receivables/contract assets/inventories minus off customer deposits/payables) like that of a grocer!
It will be interesting to see the extent of the current SBB and also how they will eventually use these treasury shares.
Share buy-back by way of market acquisition.
https://links.sgx.com/1.0.0/corporate-an...3d8493926b
The majority of the shares bought in earlier years were used to fully owned a subsidiary shipyard and meet the obligations of a 50mil convertible bond. As end FY24, there is plenty of cash on its BS even after all the recent CAPEX announcements (new shipyard + LNG terminal) and the amount of customer deposits has also given it a negative working capital (receivables/contract assets/inventories minus off customer deposits/payables) like that of a grocer!
It will be interesting to see the extent of the current SBB and also how they will eventually use these treasury shares.
Share buy-back by way of market acquisition.
https://links.sgx.com/1.0.0/corporate-an...3d8493926b