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23-03-2020, 10:57 PM
(This post was last modified: 23-03-2020, 10:58 PM by Curiousparty.)
(23-03-2020, 07:58 PM)ksir Wrote: I reckon the main value of Boustead at this moment is the their warchest!
Minus off their BP shares at current price and minus off BP net cash, basically Boustead is selling at less than their net cash!!
FF Wong has persevered with their idled cash for SO LONG!!
Now he is finally proven right!
The question is whether he will strike (the gold) or miss the boat again (as per 2008)!!
Increasing my stake in Boustead and BP
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BP alone has RNAV of $1.80 (conservatively) and Boustead’s share is one third of BP or $0.60.
The current Boustead share price ($0.56) is dirt cheap !!!!
The rest of Boustead comes free
A. Geo spatial business with valuation close to Boustead’s share of BP ($0.40 to $0.50)
B. Boustead own net cash holding ($0.20 or $100mil)
C. Engineering arm ( one can fully discount this part to ZERO if need be). Contract wins to date about $200mil. So still have some worth.
D. The emerging health care arm ($0.05 to $0.10)
I don’t mind if FF Wong takes the company private at $0.80 and return cash to all shareholders !!!
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