Saw Gallant in the top volume today. Long time I have not tracked it, and my goodness, now only 25 cents. It's half-way down from peak of 50 cents about six months ago.
Found out that the 2Q result was uninspiring. Lost a bit of $. Which means 1H was a loss. Like that, who wants the stock?
ivanignatius at sharejunction.com: In my experience over the last fifteen years, Gallant is the 'canary in the coalmine'. When every other stock has risen, and the brokers have nothing else to write about, they drag out the whole 'Singapore tourism, next stop Bintan/Batam, Gallant trading on 0.1x revised NAV'. I've seen it each cycle. And then what happens? Within months, the stock market craters, and Gallant is forgotten for the next few years. The tough reality of it is that Singaporeans and expats are never going to use the Riaus for more than an occasional game of golf and a massage. Who wants to schlep across on that sick-making ferry every weekend, to go to an ugly island with very limited infrastructure. The best thing to do when you find yourself itching to buy Gallant is to recognise that it is calling the top of the market, and that you've run out of better things to buy. Take this test: Compare Gallant to UOB over any time period. One pays a decent dividend, and hits higher highs each cycle, the other is Gallant.
Finally, some land sale by Gallant! S$19 million cash -- most of it already collected by Gallant. (Seems like the announcement last night was not timely. Couldn't they have put it out much earlier, at the point of signing the sales & purchase agreement?). No mention of gain on disposal of the land , which is undeveloped land meant for resorts & residences.
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