04-06-2015, 08:24 PM
Become vested in this stocks last week with 40lots after computing that the conservative liquidation value is $0.20 and its consistent and sustainable dividend.
04-06-2015, 08:24 PM
Become vested in this stocks last week with 40lots after computing that the conservative liquidation value is $0.20 and its consistent and sustainable dividend.
05-06-2015, 10:03 AM
do not follow this as closely but based on preliminary glance (correct me if I am off), it seems:
1) Market Cap is $32.7m. Cash on hand is $18m with no debt i.e. 55% of the company is worth cash, 2) Means company is trading at only 4X EV/EBITDA now 3) investment industrial property at 7 & 9 Harrison Road (near Tai Seng, Goodpack used to occupy some parts of this building) that is carried at $19.6m on its balance sheet, fully paid up. Occupancy should be in the 90% region. 4) Fair value of property is estimated to be $35m as of 31 Mar 2014. Even if we take a 40% discount to RNAV of the property which is super aggressive, it means the property should be worth at least $21m (pretty close to the NBV). 5) Being conservative, this means that Cash+Property is worth $39m. If we value the existing business at $0, this could potentially mean the company is trading at 20% discount currently at least (not factoring illiquidity discount) Anyone has further insights on 7&9 Harrison Road? Cheers. (18-04-2015, 10:39 AM)BlueKelah Wrote: The property is good as an asset backing which provides income and company does not need to pay rent for office space saving on rental overhead.
05-06-2015, 02:10 PM
(05-06-2015, 10:03 AM)bigbong21 Wrote: do not follow this as closely but based on preliminary glance (correct me if I am off), it seems: Did the $39m assets generate profits that is sufficient to pay you 5%-7% of dividend every year?
05-06-2015, 03:19 PM
~$700k of NPI versus ~$1.7-$2.3m of dividend, no. But cash pile is more than sufficient and it seems they have been buying back shares. But the dividend is not the main thesis for Powermatic yeah?
[/quote] Did the $39m assets generate profits that is sufficient to pay you 5%-7% of dividend every year? [/quote]
15-07-2015, 09:52 PM
Anyone heading to the AGM next week?
http://theasiareport.com - Reflections From Finding Value In Asia
16-07-2015, 08:50 AM
16-07-2015, 10:16 AM
(16-07-2015, 08:50 AM)secretinvestors Wrote:(15-07-2015, 09:52 PM)theasiareport Wrote: Anyone heading to the AGM next week? what shall we expect from the AGM? Maybe someone should ask the management how they going to deploy the cash-pile on the balance sheet?
Dun think there is much to ask of management given the uncertain global and even local singapore economy.
Probably just thank them for good job hanging in there and keeping the company profitable and maybe ask them any plans to expand their property or equity investment in the near future when valuations get cheaper. -v-
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
16-07-2015, 03:25 PM
(16-07-2015, 10:16 AM)desmondxyz Wrote:(16-07-2015, 08:50 AM)secretinvestors Wrote:(15-07-2015, 09:52 PM)theasiareport Wrote: Anyone heading to the AGM next week? There will not be much progress as PM Data has been the same co since listing in mid 90s. Only thing that they did right was to have benefited from asset inflation and their sole ind bldg.
17-07-2015, 06:19 AM
Ask them about capital allocation and also to be more aggressive on shareholder buybacks.
(16-07-2015, 03:25 PM)greengiraffe Wrote:(16-07-2015, 10:16 AM)desmondxyz Wrote:(16-07-2015, 08:50 AM)secretinvestors Wrote:(15-07-2015, 09:52 PM)theasiareport Wrote: Anyone heading to the AGM next week?
http://theasiareport.com - Reflections From Finding Value In Asia
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