Stock Name: KingWan
Company Name: KING WAN CORPORATION LIMITED
SIAS Research in a Mar 12 research report says: "King Wan is a mechanical & electrical (M&E) engineering services provider in Singapore with investments in property development and manufacturing businesses across Singapore, Thailand, and China.
"With $26.4 million of net cash, which is about 54.4% of its current market capitalization of $48.5 million, it provides a favorable risk/reward opportunity to investors. King Wan's current market capitalization of $48.5 million is 0.59x of our FY2012F book value.
"We applied a discount rate of 20% to book value to arrive at values of $0.06 and $0.075 per share respectively. Other receivables are discounted at 40% for a value of $0.026 per share. On a SOTP basis, we arrived at a value of 25 cents per share. INVEST."
Company Name: KING WAN CORPORATION LIMITED
| Research House: SIAS | Price Call: BUY | Target Price: 0.25 |
SIAS Research in a Mar 12 research report says: "King Wan is a mechanical & electrical (M&E) engineering services provider in Singapore with investments in property development and manufacturing businesses across Singapore, Thailand, and China.
"With $26.4 million of net cash, which is about 54.4% of its current market capitalization of $48.5 million, it provides a favorable risk/reward opportunity to investors. King Wan's current market capitalization of $48.5 million is 0.59x of our FY2012F book value.
"We applied a discount rate of 20% to book value to arrive at values of $0.06 and $0.075 per share respectively. Other receivables are discounted at 40% for a value of $0.026 per share. On a SOTP basis, we arrived at a value of 25 cents per share. INVEST."
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