I took the time to research and compile these stocks that trade below 67% of Net Current Asset Value (Current Assets less Total Liabilities). A few of these recently emerged in 2015 as a result of the depressed STI.
These are the only Singaporean net-nets on the SGX, excluding S-chips:
Multi-Chem (AWZ)
Matex International (M15)
Nobel Design Holdings (547)
TSH Corporation (574)
ASTI Holdings (575)
Asia Enterprises (A55)
Lion Asiapac (BAZ)
Excelpoint Technology (BDF)
Do let me know if I have missed any.
I guess one good stats to have is how long these stocks have been trading below 2/3 of NCAV?
(02-01-2016, 10:17 PM)beau Wrote: [ -> ]I took the time to research and compile these stocks that trade below 67% of Net Current Asset Value (Current Assets less Total Liabilities). A few of these recently emerged in 2015 as a result of the depressed STI.
These are the only Singaporean net-nets on the SGX, excluding S-chips:
Multi-Chem (AWZ)
Matex International (M15)
Nobel Design Holdings (547)
TSH Corporation (574)
ASTI Holdings (575)
Asia Enterprises (A55)
Lion Asiapac (BAZ)
Excelpoint Technology (BDF)
(Note: Excelpoint is not a net-net anymore as a result of their latest quarterly financial statements where Provisions increased under their liability account. I believe they still trade at around NCAV.)
Do let me know if I have missed any.
Think you may have missed Hupsteel H73
Chasen Holdings, Nippecraft, HG metal
Nice list! Moderators, this should be a new Sticky on this value forum! easy reference and starting point for newcomers.
As requested, the thread has been made sticky.
Regards
Moderator
thanks beau, and this is my first post and indeed your post is the region for my registration :
good job.
Would caution newcomers that while some of these companies may be net-nets, identifying the ones where management has its interest aligned with minority shareholders and not just lining their own pockets is very crucial.
^^ net-nets are net-nets for some reasons. Just like a pretty girl, who wont be available too long for guys to chase.
when playing net-nets, must at least know specifically why it is undervalued.
(04-01-2016, 03:39 PM)opmi Wrote: [ -> ]^^ net-nets are net-nets for some reasons. Just like a pretty girl, who wont be available too long for guys to chase.
when playing net-nets, must at least know specifically why it is undervalued.
Pure quantitative mean of net-nets investing, needs broad diversification, to work. Both our mentors, The late Graham, and Schloss were having about 100 stocks with the approach.