LionDiv continue the fall from 0.845 to 0.59.
Now the total Market Cap is only RM435 mil. against it's NTA of 2.68 per shares or SHARHOLDERS FUND of RM1975 mil.
Icap Mr. Tan Teng Boo said in it's AGM this year that he didn't manage to sell all it's Liondiv because the price is not attractive when fall below 2.10.
I am still puzzling who is the seller to sell at 0.60 & why ?
FIRE SALES ? ANY TAKER ? AT LIQUIDATION PRICE !
OR MR. MARKET HAVE GONE CRAZY.
3 comments:
HI KC,
i just dropped by. Just for your info, i sold LionDiv at 0.60! I bought at 0.815 ... making a huge loss. But, I m going to buy it again once 'things look better'.
Just another mistakes i done
TEH
I also sold LIONDIV for a loss but waiting to get in. I saw someone post that the stock is worth .25? What do you think? It mentions this here:
http://forum.lowyat.net/topic/617928/+0#entry15521537
Thanks
Spin2Win
Hi CP & Spin2win
The following may give some idea on Liondiv value:-
At 0.43, LionDiv market cap is only 300mil+.
It's net current assets worth 0.60 per share.
It's Parkson's RCSLS already worth 500 mil.
It's newly completed DRI plant alone cost more than 1 bil.
OR, look at it this way, at 43 sen,you can use 300 mil to buy up the whole LionDiv, disposed all the assets separately one by one, you will most likely to get a goods profits from the disposal..
I believe the current irrational reaction from market is a opportunity for value investor.
The scary price movement may due to the dumping from Foreign Fund, they just need to cash out(at any price) because their home is in BIG Fire.
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