Prior to his retirement, Chan Kit Whye (left) worked more than 30 years as Regional Finance Director, Financial Controller and Manager in a multinational specialty chemical business. He has played an active role in CPA (Australia) Singapore Branch, taking up positions in its Continuing Professional Development and Social Committees. Kit Whye is a Fellow of CPA Australia, CA of Institute of Singapore Chartered Accountants and CA of the Malaysian Institute of Accountants. He holds a BBus(Transport) Degree from RMIT, MAcc Degree from Charles Sturt University and MBA from Durham Business School.
NOL (95 cents) has a market cap of S$2.5 billion.
Chart: Bloomberg.NOL: Sinking deeper into the red sea.
Its latest Q2 result was a loss attributable to shareholders of US$53.7 million vs prior year's same quarter of US$34.6 million.
The reported quarter was hit by net interest on borrowings of US$30 million and higher depreciation by US$23 million compared to prior year's quarter.
On a YTD basis, its six months loss attributable to shareholders was US$151.7 million, which is already almost double its full year 2013 loss of US$76.3 million.
On the balance sheet, it has US$5 billion of debt vs about US$2 billion of equity.
YTD loss per share is 5.8 cent USD or 7.3 cent SGD.
Its press release tried to soften the blow, focusing on EBIT rather than net profit attributable to shareholders.
NAV is 74 cent USD or 92.5 cent SGD. Current share price appears to be supported by its NAV.
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Recent story: Chan Kit Whye: TIGER AIR Shares Could Be "Technically Worthless"
