From another forum
Updated information:
Since the last update when Oiltek was $0.42 (now $1.00), Koh Eco' s stake in Oiktek is now worth $99.39 mil based on Oiltek closing price of $1.02
On a per share basis, its stake in Oiltek is now worth $0.03527 per share.If we take into account Koh Eco' s own business, the company' s NAV would be
a lot higher.
Interestingly, the carrying value of OIL (Oiltek International Ltd) as reflected in the Annual Report 2023 was just $6.495 mil ? Did I missed out something?
" Carrying value of non-controlling interests Group 2023 2022 S$&rsquo 000 S$&rsquo 000 OIL and its subsidiaries 6,495 5,484" ---> extracted from AR
At Friday' s closing of $0.04, the market is only putting a value of $0.00473 ($0.04-$0.03527) on Koh Eco' s business excluding its stake in Oiltek haha.
Based on shareinvestor, the NAV of Koh Eco is $0.042 inclusive of Oiltek. If we assume Oiltek' s carrying value as negligble as reflected in AR ($0.0023), then shouldn' t the actual NAV for Koh Eco
be $0.0425+$0.03527-$0.0023 = $0.07547 ?
Grossly undervaluing the stock by a mile.
Also interesting to note the free float of Koh Eco is only about 16.45% (46.3 mil) as 83.55% is held by Koh Bro Group and Japanese Penta-Ocean)
So a grossly undervalued stock plus major SS holding 83.55% (if they team together) means a good candidate for Privatisation as well.
Please double check on the calculations as I may be wrong (not an accountant)
DYODD
Since the last update when Oiltek was $0.42 (now $1.00), Koh Eco' s stake in Oiktek is now worth $99.39 mil based on Oiltek closing price of $1.02
On a per share basis, its stake in Oiltek is now worth $0.03527 per share.If we take into account Koh Eco' s own business, the company' s NAV would be
a lot higher.
Interestingly, the carrying value of OIL (Oiltek International Ltd) as reflected in the Annual Report 2023 was just $6.495 mil ? Did I missed out something?
" Carrying value of non-controlling interests Group 2023 2022 S$&rsquo 000 S$&rsquo 000 OIL and its subsidiaries 6,495 5,484" ---> extracted from AR
At Friday' s closing of $0.04, the market is only putting a value of $0.00473 ($0.04-$0.03527) on Koh Eco' s business excluding its stake in Oiltek haha.
Based on shareinvestor, the NAV of Koh Eco is $0.042 inclusive of Oiltek. If we assume Oiltek' s carrying value as negligble as reflected in AR ($0.0023), then shouldn' t the actual NAV for Koh Eco
be $0.0425+$0.03527-$0.0023 = $0.07547 ?
Grossly undervaluing the stock by a mile.
Also interesting to note the free float of Koh Eco is only about 16.45% (46.3 mil) as 83.55% is held by Koh Bro Group and Japanese Penta-Ocean)
So a grossly undervalued stock plus major SS holding 83.55% (if they team together) means a good candidate for Privatisation as well.
Please double check on the calculations as I may be wrong (not an accountant)
DYODD
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