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Singapura Finance
11-09-2017, 06:17 PM,
Post: #11
RE: Singapura Finance
(11-09-2017, 11:27 AM)BlueKelah Wrote: Anyone had a look at this value trap lately?

@ just over $1 its trading at net cash value with no debt and this quarter earnings quite ok. NAV $1.60

Cant value finance/bank counters like that.

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12-09-2017, 10:28 AM,
Post: #12
RE: Singapura Finance
(11-09-2017, 06:17 PM)Scg8866t Wrote:
(11-09-2017, 11:27 AM)BlueKelah Wrote: Anyone had a look at this value trap lately?

@ just over $1 its trading at net cash value with no debt and this quarter earnings quite ok. NAV $1.60

Cant value finance/bank counters like that.

The "debt" of the company is, "deposit and saving account", which is about S$830m vs the NAV S$254m.

I glance at the company AR2016, few important fundamentals

cost-to-income ratio: 70%+
loan-to-deposit: ~98%
NPL: 2%+ (secured)
ROE: 1-2%

P/NAV of ~0.6, and TTM P/E of 27+.

Nothing interesting here to me.

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