Buy back later,u lent money must get interest... ha ha .... market up u make profit, down u also make profit... I am Business trader... u know .. the price is right....sell my product... u want product or I lent money... must hv interest.. maa....
Seems like no one visited here for very long time.... Very undervalued company at current price.
Graham net-net valuation of SMI BS value Wt Liq value Per share Cash and cash equivalent 39606 100% 39606 0.19 Short term investments 0 100% 0 0.00 Land held for property development 7089 100% 7089 0.03 *Available for sale financial assets 28446 50% 14223 0.07 Investment properties 29153 100% 29153 0.14 Inventories 25992 50% 12996 0.06 Trade Account Receivables 34504 75% 25878 0.12 **Property, plant and equipment 46360 50% 23180 0.11 Other investments/deferred tax assets 739 0% 0 0.00 Total assets 211889 Total liabilities 66170 100% 66170 0.32 Total equity 145719 0 Number of shares 209940 Net tangible asset per share 0.69 0.41
Closing price 0.165 MOS 59.70% Upside potential 148.14%
* A big chunk is in unquoted shares of a subsidiary in NZ involved in property development. As it is not marked to market and impairment is at discretion of directors, apply a 50% discount ** The main office building is located in KL and has not been revalued since the 90s carrying book value of RM28.6mil. Take the book value
- this company have a lot cash in hand but the stock's price still low... - nta 0.70 - most of the ace and pn17 stocks sudah digoreng high high - Smi directors and shareholders, are u all sleeping???
its either their bankers are sleeping or their investment advisers knows nuts. Given its a tightly controlled company, it wont take much to take this thing private say at 25c @ 70million free float shares available in public hands. Any bankers would fund this deal without hesitation.
last 2 quarter combined EPS 1.5 cents, annualized 3.2 cents, forward PE is only 5 based on current price 0.16, NTA 0.69, penny stock, steel theme, can bet lah
Smi has a manufacturing license to produce galvanized iron wires, hard-drawn wires, PVC coated wires, black annealed wires and staple wires.The manufacturing and trading division recorded a profit before tax of RM2.06 million as compared to a loss of RM0.37 million in the corresponding period ended 30 June 2015 due to higher gross profit margin as a result of higher selling prices and lower production costs. ( Iron price increase)
Commentary on Prospects Faced with intense competition and the volatility of raw materials prices, the Group expects the manufacturing division’s operating environment in 2016 to be similar to 2015. Hence, its focus will be on improving operating margin and retaining core customers. The Group’s results are however expected to improve with the on-going property projects undertaken in 2016.
SMI turn to be profitable since last three quarter but the price does not move yet. Just keep your money here and be patient. Risk also very low due to very low debt. They can easily pay all debt using cash reserve.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jackport
179 posts
Posted by jackport > 2014-09-25 08:54 | Report Abuse
con??