Eratat Lifestyle

It will be a lot better if they exercised the mandate to buy back shares if they really think that the company is really undervalued! Having a mandate but not exercise it is definitely unwise!

This stock is trading at less than 1X PE, after you deduct the S$36 million cash from its market cap of about $60 m. U get 60-36 = 14 m. The net profit for last FY was about S$20 million! Cheapest stock i know of in whole of SGX. Anyone can tell me which is cheaper? :laugh:

wah...so cheap...then they should have buy back 10% last year...10% this year and 10% next year!

Some nibbling, but no one is biting in large portions! At 14.5 cents.... PE only 1X ex-cash?

The FY10 results statement has an interesting paragraph which is reassuring to investors who are concerned about corporate governance: \"Our newly appointed internal auditor (“IA”), Grant Thornton Transactions Services Pte Ltd, had in December 2009 completed their review on business cycles of the Company’s subsidiary company, Quanzhou City Quangang Hongli Shoes Co., Ltd. In addition, they had reviewed our follow-up implementation of recommendations proposed during the IPO in April 2008 and the past audits since then. The Audit Committee had reviewed the findings by the IA and noted no significant internal control weakness. The Management will be following up with the recommendations in the IA Report. Henceforth, the IA will conduct their reviews on the Group’s selected business cycles until the end of year 2011 when the current appointment ends.

Ask me to audit I will also recommend improvement actions....to make them feel the aduit fee is worth paying for....and better still, can continue to engage my serivce to see through the implementation!