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18-02-2016, 04:02 PM
(18-02-2016, 03:54 PM)frus Wrote: Ok, it's official Parkson Retail Asia is worth <0 (adjusted for cash)
Market cap based on last trade: 115m SGD
Net Cash (as per last report): 120m SGD
It's a troubled business, but what exactly is happening? Surely their 60 stores in Malaysia/Vietnam/Indo/Myanmar are not worth 0!?
Sometimes a controlling shareholder has a lousy corporate governance track record so the mkt assigned a big discount to valuation.
e.g. got cash oneself keep. dont share with others.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster