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.
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.
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)
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.
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.
NextInsight
a hub for serious investors
