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Assume 1 SGD = 2.55 RM.
As at 30/06/2014 :
NAV per share = 1.4189 RM = 0.55 SGD
As at today :
Market price = 0.45 SGD
P/B = 0.818
Ex distribution of 0.3 SGD :
NAV = 0.25 SGD
Assume price is 0.15 or 0.14
P/B = 0.6 or 0.56
So we should sit tight and take the dividend. Isn't it ?
Moreover, for controlling shareholders that are willing to share the fortune of the company, I usually will not sell except the price is dear.
Highlights in Q3FY2014 results :
1. Firmly focused on enhancement of growth of remaining businesses in the Trading and Frozen Food, Nutrition and Others Divisions
o Further increase visibility of strong brand name – “Pok Brothers” – in supermarket and hypermarket chains across the country
o New product launches with new bar and powder based products currently under development by Nutrition Division
o Growth of “Texas Chicken” outlets to 12, with another three within next five months (Comment : For business that can multiply quickly, it is not supposed to be sold below book value ?)
o Initial stages of introduction of 325ml PET bottle carbonated drink produced in June 2014 by beverages business
2. Net cash position, with healthy cash and bank balances of approximately RM773.0 million that can be utilised for business expansion through potential acquisitions, joint ventures and collaborations and distribution to shareholders (Comment : More dividends to come ?)
3. Proposes a tax-exempt special interim dividend of SGD0.30 (RM0.77) per share
Ex date : 12 Agustus 2014
Book Closure date : 14 Agustus 2014
Payable date : 26 Agustus 2014
Outlook :
Barring unforeseen circumstances, the Group remains cautiously optimistic on its prospects. It continues to take active steps to further shore up its fundamentals and grow its businesses to derive greater value for shareholders.
<not a call to buy or sell, there may be flaw in the thinking>
As at 30/06/2014 :
NAV per share = 1.4189 RM = 0.55 SGD
As at today :
Market price = 0.45 SGD
P/B = 0.818
Ex distribution of 0.3 SGD :
NAV = 0.25 SGD
Assume price is 0.15 or 0.14
P/B = 0.6 or 0.56
So we should sit tight and take the dividend. Isn't it ?
Moreover, for controlling shareholders that are willing to share the fortune of the company, I usually will not sell except the price is dear.
Highlights in Q3FY2014 results :
1. Firmly focused on enhancement of growth of remaining businesses in the Trading and Frozen Food, Nutrition and Others Divisions
o Further increase visibility of strong brand name – “Pok Brothers” – in supermarket and hypermarket chains across the country
o New product launches with new bar and powder based products currently under development by Nutrition Division
o Growth of “Texas Chicken” outlets to 12, with another three within next five months (Comment : For business that can multiply quickly, it is not supposed to be sold below book value ?)
o Initial stages of introduction of 325ml PET bottle carbonated drink produced in June 2014 by beverages business
2. Net cash position, with healthy cash and bank balances of approximately RM773.0 million that can be utilised for business expansion through potential acquisitions, joint ventures and collaborations and distribution to shareholders (Comment : More dividends to come ?)
3. Proposes a tax-exempt special interim dividend of SGD0.30 (RM0.77) per share
Ex date : 12 Agustus 2014
Book Closure date : 14 Agustus 2014
Payable date : 26 Agustus 2014
Outlook :
Barring unforeseen circumstances, the Group remains cautiously optimistic on its prospects. It continues to take active steps to further shore up its fundamentals and grow its businesses to derive greater value for shareholders.
<not a call to buy or sell, there may be flaw in the thinking>
Specuvestor: Asset - Business - Structure.