04-10-2023, 10:46 PM
Thanks Weijian.
My info comes from The Edge Sep 7, 2023 Tong's Portfolio column as follows:
Recall that we bought three stocks with negative enterprise value (market cap is less than net cash) back in mid-April 2023. All three stocks have recorded double-digit gains in the five months since (see Table 3). We have sold KUB and Star Media Group, making profits on both but continue to hold Insas. We think Insas has the best potential to realise its actual underlying value, perhaps sooner rather than later. Although Star has a lot of cash and negative enterprise value, the fear is that its underlying business is performing badly and, thus, will continue to drain cash. The company’s recent decision on property development leaves doubt as to whether the cash will be applied to maximise gains for minority shareholders.
My info comes from The Edge Sep 7, 2023 Tong's Portfolio column as follows:
Recall that we bought three stocks with negative enterprise value (market cap is less than net cash) back in mid-April 2023. All three stocks have recorded double-digit gains in the five months since (see Table 3). We have sold KUB and Star Media Group, making profits on both but continue to hold Insas. We think Insas has the best potential to realise its actual underlying value, perhaps sooner rather than later. Although Star has a lot of cash and negative enterprise value, the fear is that its underlying business is performing badly and, thus, will continue to drain cash. The company’s recent decision on property development leaves doubt as to whether the cash will be applied to maximise gains for minority shareholders.