I think this business is more about who you know than what you know. And unfortunately it seems
IRIS will become more in favour so will start to take more projects from datasonic

Why is this stock such a piece of shit?

I think unlikely to get more contracts in Malaysia, will slowly lose more and more to iris because new shareholder is related to Zahid. That's why after many years of not getting anything in Dec iris got a small passport related contract perhaps more to come. Datasonic desperately need to replace all it's Msia contracts with overseas contracts

most of the NAV (about 80%) is actually goodwill from when they merged sapura and kencana. So the tangible assets ie the rigs etc are only worth about 30sen already

TheMiddle, what is the fundamental?

Fundamentals for the stock are bad but RSI is showing that it is oversold. So wait for the small rebound and then sell

Slow decline to 0.8

Honest question - Why is this company considered cheap? Isn't market cap 2x orderbook? And Iris also looks like they starting to get more passport contract since change owners?