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13-11-2014, 02:27 PM
(13-11-2014, 02:24 PM)desmondxyz Wrote:(13-11-2014, 11:00 AM)CigarButts Wrote: Did a short writeup. Hope I got the numbers correct. (My 2nd time doing an analysis so might some calculations may be wrong)
Powermatic Data system Ltd
This is a company specialising in distribution of IT products.
With Cash at $18749 and Properties valued at $18608. This company has a Net tangible asset value of $37357. From its balance sheet it does not have any long term liabilities. So current liabilities stand at $3646. So with its share base of 173289, Powermatic data system ltd has a NTA per share of 0.194 which it is trading now at about 8% discount(current share price is 0.182).
However you need to take note that this is an illiquid stock so collecting this share will take lots of time. Let us take a look at its dividends history.
They have given dividends from 1993 - 2003 and then stopped until 2008. Lets take a look at the dividends history since 2008. (Note this data was retrieved from an app and may not be 100% accurate) Ignoring the 2003- 2008 period. It maintains a steady dividend stream of $0.01. No real increase in dividends over the years.
2008 - $0.01
2009 - $0.01
2010 - $0.01
2011 - $0.01
2012 - $0.01
2013 - $0.01
2014 - $0.01
Vested in it due to the steady stream of dividends and the assumption that the dividends can be maintain. This is a case of buy the assets and get the business for free. By the way I am still collecting it at $0.182. Patience is the key. No point pressing up the price as this will affect my dividends yield. Strategy for me is to collect dividends(>5%) for this counter while waiting for value to be unlocked.
Great Job! Keep it going!
Btw, Any idea why there was no div from 2004 - 2007?
Not really sure man. Need to do some research and dig deeper.