Homepage
PR Newswire
09-06-2012, 05:59 PM
(This post was last modified: 23-10-2013, 02:18 PM by CityFarmer.)
Hi fellow value investors,
Anyone following or vested in Hanwell?
This stock was in the news recently on the back of i) Mr Sam Goi's purchase all the way from 20+ cents to 30 cents ii) Hanwell's sale of Intraco which attracted much media attention lately given the possible impending tug of war.
Stock is cheap at about 0.6x book with quite a few hidden assets in the portfolio/balance sheet. Among them, Hanwell owns 64% of Tai Seng Packaging (listed on SGX) worth ~S$32m. And its sale of stake in Intraco should yield S$18m. Its current market cap is at S$175m. Note that its net cash per share is S$0.055 OR ~20% of market cap.
Some investors might have noticed that over the recent few months, Mr Sam Goi has been busy buying and the company which rarely made share purchases (the last time they were active was back in 2009) also started actively buying back shares - the last on 8 June where they bought 70,000 shares at $0.317. And on 8 June, current shareholder and wife of Executive Chairman, Mdm Tang Cheuk Chee also increased her stake by a notable 0.25% at an average cost of $0.334. This is the same lady that bought back the 8.9% stake in PSC from Super Group, which used to be a substantial shareholder in PSC, at $0.4864 in Feb 2011.
A case of deep value?
This small company, often associated with my childhood favourite Econ Minimart and the Saturday night generous giveaways, has seemingly become as exciting as its household "Yi Kang Zi Ye" show aka Econ Night Show in recent weeks.
Would appreciate if any of the fellow forummers here could share any insights/take from the recent developments. And the potential implications.
Humbly,
chimpy
Anyone following or vested in Hanwell?
This stock was in the news recently on the back of i) Mr Sam Goi's purchase all the way from 20+ cents to 30 cents ii) Hanwell's sale of Intraco which attracted much media attention lately given the possible impending tug of war.
Stock is cheap at about 0.6x book with quite a few hidden assets in the portfolio/balance sheet. Among them, Hanwell owns 64% of Tai Seng Packaging (listed on SGX) worth ~S$32m. And its sale of stake in Intraco should yield S$18m. Its current market cap is at S$175m. Note that its net cash per share is S$0.055 OR ~20% of market cap.
Some investors might have noticed that over the recent few months, Mr Sam Goi has been busy buying and the company which rarely made share purchases (the last time they were active was back in 2009) also started actively buying back shares - the last on 8 June where they bought 70,000 shares at $0.317. And on 8 June, current shareholder and wife of Executive Chairman, Mdm Tang Cheuk Chee also increased her stake by a notable 0.25% at an average cost of $0.334. This is the same lady that bought back the 8.9% stake in PSC from Super Group, which used to be a substantial shareholder in PSC, at $0.4864 in Feb 2011.
A case of deep value?
This small company, often associated with my childhood favourite Econ Minimart and the Saturday night generous giveaways, has seemingly become as exciting as its household "Yi Kang Zi Ye" show aka Econ Night Show in recent weeks.
Would appreciate if any of the fellow forummers here could share any insights/take from the recent developments. And the potential implications.
Humbly,
chimpy
