06-08-2014, 10:10 AM
(06-08-2014, 09:45 AM)freedom Wrote: [ -> ]we need a real down time to see how the management play the shareholder value game. At that time, the working capital will be low and the cash will a lot more. What will the management do with the cash on hand.
Even at this point, a decent capital allocator should probably buy back shares? Since it is selling significantly below NAV.
Rather than bidding more projects or lands (which don't think will produce better IRR)?
The S$2.5M dividend is rather too low if we compared the half mark S$10M earning. And with last month divestment of Fosta & old Sungei Kadut facility, the cash hoard will be more than enough for more dividends.
I will be rather surprised if there is no extra (special) dividend this year.
Vested (and biased)