Based on my calculation on the previous quarter result, L&G has a net asset of 600 million. Assuming the leftover ICULS are converted, they will have a gain of 65 Million and be left with 1.157 Bllion shares in total. Take (600+65)\1157 = 0.575 (Conservative Book Value As Of 30/6/2014). Say they earn 2.5 cents for the previous quarter, that will be 0.575 + 0.025 = 0.60 of book value. Or maybe just 0.60 - 0.02(Dividend Issued) = 0.58. Current Price @ 0.545, you are buying the net asset at 6% discount and you get Low Gay Teck and the unbilled sales for free.
Stock: [L&G]: LAND & GENERAL BHD
2014-11-17 23:20 | Report Abuse
Based on my calculation on the previous quarter result, L&G has a net asset of 600 million. Assuming the leftover ICULS are converted, they will have a gain of 65 Million and be left with 1.157 Bllion shares in total. Take (600+65)\1157 = 0.575 (Conservative Book Value As Of 30/6/2014). Say they earn 2.5 cents for the previous quarter, that will be 0.575 + 0.025 = 0.60 of book value. Or maybe just 0.60 - 0.02(Dividend Issued) = 0.58. Current Price @ 0.545, you are buying the net asset at 6% discount and you get Low Gay Teck and the unbilled sales for free.
-Savwee-
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