Another Deep Value Play

lotustpsll
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10 years 5 months ago #17393 by lotustpsll

Another Deep Value Play was created by lotustpsll

Tan Chong International is in my radar. Listed both in SGX and HKSE. Based on last FY - NAV at hkd5.25, PE 6, dvd yield 3%. 1H13 results were strong, net profit rose sharply.

NAV may be understated given the potential of its properties/lands in Singapore, estimated 16 acres. L

Last major corporate restructuring 16 ears ago. 2 investing angles. privatisation of TCIL or corporate restructuring. Tan family controls abt 78% of TCIL.

Please check this out and I welcome your feedback.

The following user(s) said Thank You: Poh

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Dongdaemun
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9 years 3 months ago #21618 by Dongdaemun

Replied by Dongdaemun on topic Another Deep Value Play

Indeed, TCIL has been on my wishlist but the fella is so hard to get, in terms of liquidity.

Other property counters with a deep disct to RNAV inlcude Sing Hldgs. If I were boss, I would privatize liao. Ditto for Hong Fok.

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hh488
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9 years 3 months ago #21619 by hh488

Replied by hh488 on topic Another Deep Value Play

Tan Chong share price been falling steadily possibly due to bad results coming out. Maybe have to wait till announcement. 2015 could then be a watershed year for Tan chong.

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Dongdaemun
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8 years 10 months ago #22264 by Dongdaemun

Replied by Dongdaemun on topic Another Deep Value Play

Sure, net profit did fall (by about 50%) and that's almost all to do with the absence of revaluation gains on its investment properties. TCIL is a value stock and there's upside potential but I can't be certain of the company unlocking value in its assets. I guess that's what the market thinks too, to a certain extent, hence its undervaluation. (HK$2.70 currently)

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zane
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8 years 9 months ago #22313 by zane

Replied by zane on topic Another Deep Value Play

What is value? Here's a profound answer that shows it's not easy to figure out -->

The owner says the house is worth $100k. A real estate appraiser says it is actually worth only 90k. A monk says it is worth nothing. A monopoly owner says it is worth $300k and he is willing to pay cash upfront for it. A bird flies by, excretes over it and doesn’t consider its value whatsoever. A kid, who is the son of the previous owner, thinks that there is no price that can match the value because he has lived there his whole life.

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zane
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8 years 5 months ago #22624 by zane

Replied by zane on topic Another Deep Value Play

deep value plays include Sino Grandness @ PE of 4X only currently when share price is 35 cents. I presume the submission of IPO application of its Garden Fresh subsidiary will sooner or later take place (within 6 months). Garden Fresh possibly can list at 15X PE on HK. Then its market cap will be much larger than its parent company's present market cap. LOL. U know what will happen then.

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