(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.
(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.