Anyone looking at TIONG WOON CORPORATION, with an NAV of $1.08 versus a stock price of 30 cents? Cheap!
Looks like a turnaround play on strong infrastructure projects in Singapore in the near term. Tiong Woon reported 9M19 net profit at $3.2 million versus a loss of $1.1 million in 9M18.
PE still on the high side, if we assume 2 cents per share for Fy19. That's PE of 15.
Tiong Woon could be privatised cheaply (unfortunately) following Tat Hong's privatisation in 2018 with the backing of private equity. Tiong Woon is now the largest listed heavy lift and haulage services provider on SGX.
