Dividend Yield Stock- Valuetronics

Recently came across what I believed to be an undervalued stock call Valuetronics on SGX. It is an OEM maker. Dividend yield for last year is around 10%. Since earnings for this year is also fantastic, would expect another 10% to be declared. Price earnings ratio also looks good. However, history of dividend trend reflected cyclical nature of business being in tandem with the broader macro-economics. Risk of losing all invested capital. Hence staying away for now and not sure whether to invest.