Buy @ $0.44 to average down very old hldgs @$0.79. Average cost is now $0.515. Very illiquid in volume and has been aro’ this price for a long time.
- 1mth : $0.435-$0.455
- 3mth : $0.425-$0.46
- 1yr : $0.405-$0.465
Have not done a detailed study but had a quick look at,
- Margin (improving fm 7% in ’01 to 14% in ’04)
- ROE (improving fm 5.7% in ’01 to ~12% in ’04)
- Yield 2.7% @ $0.435
- PE 12.2 @ $0.435
- NAV $0.3285 (ie. Share Price at a Premium)
- Dividend Cover (fm 2x in ’01 to 4x in ’04)
- Low bank borrowings due to capital raised from new shares placement
Looks OK except for NAV. Also, in ’04, placed out new shares @ $0.45 to Oei Hong Leong (22.51Mil), Goi Seng Hui (12.51Mil) and Ng Ser Miang (10Mil). Got it cheaper than Oei the corporate raider 😀
May do a more detailed study later but had been busy lately, so just buy 1st to average down my old hldgs. Also cash rich after all the recent sales 😀
Will not appear in my portfolio as held in trust elsewhere.
Caution : Don’t go rushing in to buy, do your own studies 1st!