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Whatever NAV or what it is very static....
Market value is more realistic but it is difficult to manage. Assets price goes up and down (see our property and our property counters). The real NAV is the market value . If the share price come down so much it means to hint the market value (dynamic NAV) is also down. If u continue to keep faith with the static NAV, u will be run down.
Do not use NAV and Share price to equate a share is cheap. It will be cheaper. Why ppl keep feeding us with those ratio is because it makes sense. It seems logic. but it is really wrong. This can only be used when the bulls are around not this time....
I agree with this saying "Bear market never last but fundamental do"
I also like to look at NAV and NTA when buying stock. But have stop since lehman.
I have notice that there is a big gap in share price and the NTA/NAV and across many companies. This may implied that asset has become very difficult to value.
For example, you may value your factory at 1M based on valuation from third party, but if you try to get a real buyer, you may get a much lower price....say...for example 600K.
And this gap is opening up.
AnthonyTan ( Date: 27-Feb-2009 10:22) Posted:
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For Synear, for the whole of last year, profit has been dripping. Q2 yoy -52%, Q3 -54% and Q4 -80%. The effect of the crisis start after Lehman, so the full year do not reflect that.
Should we complete the line, Synear may even report loss.
The next thing is on the 845M RMB, they ended the year with 1.9B RMB in cash. So the burn rate is 1.1B RMB per year. Which is higher than 845M they currently have.
Their trade receivable is also going up from 320M to 485M RMB. Remember, they are selling goods with short expiry date, non-durable goods. Not like sport shoe.....
They did not pay div this time round, and there is a witch hunt going on because of the Fiberchem Fiasco. Ferrorchina imploded recently. All on an overnight basis. Has added concern on the corporate goverance.
The only comfort is that they have no debt.
Was vested.
AnthonyTan ( Date: 27-Feb-2009 09:38) Posted:
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OK. i take this as buy. LOL!
| dvdtsk ( Date: 27-Feb-2009 10:29) Posted: |
I am going to invest in this co:-
1.Trading price $0.15 is ok.Within UOB-KH fair value. 1 cent more
2.Divident payout is good
3.Co. expanding in vast market
4. Bullish on China.
| 27 Feb 2009 10:25 MPST *DJ Synear Food Downgraded To Hold From Buy By UOB-KH | |
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| 27 Feb 2009 10:26 MPST *DJ Synear Food Fair Value Cut To S$0.14 From S$0.37 By UOB-KH | |
AnthonyTan ( Date: 27-Feb-2009 10:22) Posted:
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According to Shares Investment ,NAV S$0.456, PE 3.9 Yield 5.4
Now trading at 0.15, is it well below NAV.Is it true that if somebody take over the company, they can make 200% profit by disposing the co. assets.
Hulumas ( Date: 27-Feb-2009 09:56) Posted:
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AnthonyTan ( Date: 26-Feb-2009 12:20) Posted:
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Reported full-year net profit of RMB222.3 million amidst challenging conditions.
The group is currently in a net cash position.
Cash and bank balances of RMB 845.0 million
Synear is releasing results soon, why not wait after the event ?
Also, S-stocks has somewhat been shaken by the Fibechem incident, ChinaHX is being quiry by SGX over the execess trade receivable. 1.55B RMB but collected back 50M RMB.
Was vested.
AnthonyTan ( Date: 26-Feb-2009 12:20) Posted:
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