ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S.

FY11 (ended 30Jun11) full-year results just out and makes interesting reading.....
http://info.sgx.com/webcoranncatth.nsf/V...00050ABCF/$file/LAP-June11Results.pdf?openelement

While Lion Asiapac's wholly-owned profitable but small quicklime business in Malaysia is nothing to shout about, and its strategic minority-stake investment in Australia-based minerals company Mindax is still in early days, the huge nett cash reserve in excess of $73.0m (as at 30Jun11) - equivalent to $0.18/share (based on the 405.5m outstanding issued shares) - and NAV of $0.2743/shre, together do provide a great deal of asset backing and comfort.

A $0.005/share Final dividend declared.

Based on today's closing share price of $0.184, Mr Market is now pricing the Lion Asiapac share only at its nett cash value - i.e. its operating quicklime business and investment in Mindax are for free!

Just checked my bank account and noted a credit from Lion Asiapac's $0.005/share Final dividend for FY11 (ended 30Jun11).

The latest (FY11) AR....
http://info.sgx.com/listprosp.nsf/07aed3...6002bd6cd/$FILE/LION-Asiapac%20AR%202011%20SGXa.pdf

Lion Asiapac has raised its stake in Australian exploration mining company Mindax Limited (listed on ASX) to 16.98% by subscribing another 10.0m new Mindax shares at AUD0.10/share (for approx. S$1.358m) in the latest share placement.....
http://info.sgx.com/webcoranncatth.nsf/V...B00233D33/$file/Mindax_Placement3.pdf?openelement

More info on Mindax.....
http://mindax.com.au/

JUst had a look this counter recently,

Increasing earnings overall..

Shrinking Dividends..

Mindax Share price big decline, not profitable?

High net cash but more than half which is needed to fund Yangzhou Land by Feb 2015 in China, ooooh scary... will it coincide with property crash in china? So revised net cash not that much..

Watchlist for now until dividend increased

Lion Asiapac looking very cheap now due to the market downturn. Trading at about 1/3 the price of about a year ago, but NAVPS remains about the same. Almost no debt and high cash pile.

Their plateau in periods prior to change of auditors. Ever since the new auditors come on board, been keep on falling . Just using coincidence as a joke. LOL

Looks more like a value trap with decreasing cash pile. Sob sob, I'm stuck with a couple of its shares. : (

Haven't keep up with this stock since I commented two years ago in response to some optimistic posts.

How has the china property thingies panned out?

Management not opmi friendly is an obvious value trap.

Sent from my MotoG3 using Tapatalk

BlueKelah, why do you say mgmt is not opmi friendly?

if I am not wrong, this company has major related sales dealings which was not explained before right? It was in my watchlist until I see the related transaction.