look at asia enterprise and hupsteel
Both no debts
1. asia enterprise cash is near 20c/share. Not taking in account its business and other stuff.
recent crisis brought it down to 18-19c/share plus at times, meaning can use cash to buy more cash...sounds ridiculous.
2. hupsteel cash is about 10c/share.
recent crisis has brought it down to 14c/share.
Meaning its freehold property portfolio which total up around 140000sf of space is worth 4c/share x 616m shares or a mere S$25m only. This is not taking into account its business and its leasehold properties.
for hupsteel to drop to 10c, buying it will mean buying its cash and get its freehold 140000sf space, business and leasehold ppties for free.
lets see how low both of these can go.
- pay cash + to get cash ++
- pay cash + to get cash ++ & throw in freehold ppties & throw in free biz
Sounds incredible this sale is getting
Happy hari raya haji
Ps this post is not to encourage pple to buy. Buy at your own risk. Sale now might lead to bigger sale. No one knows.
Both no debts
1. asia enterprise cash is near 20c/share. Not taking in account its business and other stuff.
recent crisis brought it down to 18-19c/share plus at times, meaning can use cash to buy more cash...sounds ridiculous.
2. hupsteel cash is about 10c/share.
recent crisis has brought it down to 14c/share.
Meaning its freehold property portfolio which total up around 140000sf of space is worth 4c/share x 616m shares or a mere S$25m only. This is not taking into account its business and its leasehold properties.
for hupsteel to drop to 10c, buying it will mean buying its cash and get its freehold 140000sf space, business and leasehold ppties for free.
lets see how low both of these can go.
- pay cash + to get cash ++
- pay cash + to get cash ++ & throw in freehold ppties & throw in free biz
Sounds incredible this sale is getting
Happy hari raya haji
Ps this post is not to encourage pple to buy. Buy at your own risk. Sale now might lead to bigger sale. No one knows.
Hi Paul
ReplyDeleteIndeed these attractive balance sheet companies are trading at yummy valuation, since earnings and outlook are severely negative. We'll see how bad it becomes. I don't think with the current market environment out there it's a hurry to get these kind of stocks.
Yup agreed. It just shows how bad it is, n yet it could still worsen.
ReplyDeleteI think not buying will set for regret later. I think dollar averaging will be a better choice. You don't want to miss the boat and kick your own backside.
ReplyDeleteHi,
ReplyDeleteYes, these are not s chips. Both are many decades old. The books are invariably real. Hupsteel is by one of big four n has ong kian min as chairman. To me, value is sticking out like sore thumbs. No one knows the base but yes, dollar averaging is one way to tackle this.
To me, its the big singapore sale. The lower it goes, the happier i am as i can buy more and more.
ReplyDeleteAs the late khoo teck puat very famous saying : when no one wants it, thats the time to buy a few million.