Thank you Joseph. The financials look great and this stock is really cheap. Just Hope this not going to be another of S-chip that burns a hole in our pockets somewhere down the road!.
Yes there is a stigma on s-chip, but from my many years of investing, i noted that most scandalous s-chips were hot stocks before the scandal surfaced and normally within 5 years of listing. Sinopec was never a hot stock and have been listed since 2007 .. 10 years. So i am quite comfortable with it.
The major shareholder had bought back shares in the open market on 4 occasions this month. At current price it is still trading below its cash value of 15.5 cts per share. Company has no debt. Its profit for 9 mths current is S$14.3 mil. This implies a forward p/e of less than 4. To me, its still under valued.
