As announced in my previous post, I added CM pacific. I got a gentle poke from Kyith, and decided to write a post to crystallize my thoughts. So here go: 1) Expect 7 cents dividends to be maintained and sustained Simple and only reason. Why I expect CMPH to continue paying:

1. Enlarged shares base would be about 1.8 billion shares
2. They need to pay about 743 mio HKD if they want to keep this dividend payout. (1SGD : 5.9 HKD)
3. 9 Months FCF is already is already in excess of 1 billion
4. Full contribution of Yanping and part of Guixing and GuiYang would be captured in this quarter
5. Negative goodwill of the 3 acquisitions will provide good headline numbers and perhaps fool Mr Market? LOL
6. Operating numbers wise, Yanping managed to edge out a small profits. It is loss-making when the acquisition is announced. Jiurui revenue while falling, ...

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