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Revenue/gross profit for 1H22 is actually lower than 2H21. Is there a halt in progress of the recovery? Nonetheless, other expenses (inventories obsolescence and receivables impairment) seems to continue to improve.
After stripping out the gains from its PPE disposal (recognized a 6.1mil gain on net proceeds of 9.45mil), it continues to register a net loss for the half. From the gains from PPE disposal, the company has demonstrated that it is worth more dead than alive. It is a typical company that value investors would be interested in.
But of course, this company will not buy its own death certificate because the founders are around and many of them are still working in the company (drawing ~1.5-2mil per annum). But from its PPE sales, I reckon it is not exactly hard to form some basis for its intrinsic value.
INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022
1H22 results: https://links.sgx.com/FileOpen/SGX_Annou...eID=727551
After stripping out the gains from its PPE disposal (recognized a 6.1mil gain on net proceeds of 9.45mil), it continues to register a net loss for the half. From the gains from PPE disposal, the company has demonstrated that it is worth more dead than alive. It is a typical company that value investors would be interested in.
But of course, this company will not buy its own death certificate because the founders are around and many of them are still working in the company (drawing ~1.5-2mil per annum). But from its PPE sales, I reckon it is not exactly hard to form some basis for its intrinsic value.
INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2022
1H22 results: https://links.sgx.com/FileOpen/SGX_Annou...eID=727551