Homepage
PR Newswire
15-04-2013, 05:46 PM
Sinwa closed today (15Apr13) up another $0.014 and at the day's high of $0.183, with 890 lots done.
Having cleared the non-performing vessel assets and the loss-making engineering business, Sinwa is now debt-free and has returned to its core well-established and profitable ship supplies business. Since controlling shareholder Mike Sim - now in his 60's - is no longer on the BOD or actively running the business, I wonder whether he would be prepared to sell his stake if a serious buyer comes knocking? I suppose any deal and the GO resulted from it would have to take reference from the latest NAV/share of approx. $0.28. Or am I just dreaming again?
Having cleared the non-performing vessel assets and the loss-making engineering business, Sinwa is now debt-free and has returned to its core well-established and profitable ship supplies business. Since controlling shareholder Mike Sim - now in his 60's - is no longer on the BOD or actively running the business, I wonder whether he would be prepared to sell his stake if a serious buyer comes knocking? I suppose any deal and the GO resulted from it would have to take reference from the latest NAV/share of approx. $0.28. Or am I just dreaming again?