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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
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....
Posted by Henry HO > 2016-04-22 14:55 | Report Abuse
On 26th Nov 2014, Texchem Resources Bhd sold a 28% stake to Japanese fast-food restaurant giant Yoshinoya Holdings Co Ltd, in Texchem’s wholly owned subsidiary SushiKin Sdn Bhd for RM102.2mil. With this deal, SushiKin Sdn Bhd’s is worth RM364mil!. Based on Texchem Resources Bhd’s current share price of RM1.70 per share, the market cap of the company with 124,099,000 issued shares is RM211mil. Therefore, Texchem Resources Bhd’s 72% ownership of SushiKin Sdn Bhd is worth RM262mil & this do not include other divisions within the Texchem Resources Bhd. Just for the stake in SushiKin Sdn Bhd, Texchem Resources Bhd should be trading at RM2.11 apiece. But now, you are buying Texchem Resources Bhd at RM1.72 at 22% discount on the SushiKin Sdn Bhd business only!!! You are also getting Texchem Resources Bhd’s other business like Polymer Engineering, Industrial & Food Processing & for FREE. Is TexChem Resources Bhd under-value?