Maybank-KE put Sitra's sum-of-parts valuation of S$29.8 million (four Singapore cents per share), meaning that Sitra's market cap is at a steep discount to is real value.
Sitra net profit of $1.7 million is a sharp turnaround, aided by tax credit and forex gain. Offset by drop in value of its equity stake in World Furnishing Hub. The business performance looks stronger than before, but not exceptionally strong (as yet). Share price is looking fairly valued at 2.0 cents, imho.
