Entered Sin Ghee Huat Corporation Ltd (SGX:B7K)

Sin Ghee Huat is a stainless steel sales and distribution company, a one stop shop for shipbuilders, oil and gas companies etc. SGH is in the pipes, fittings and plates business. There are a number of similar net-net around the world, for example CosmoSteel (B9S). The sector is obviously hit hard by the declining oil and energy prices.

None the less, SGE has a strong balance sheet with plenty of cash and almost 0 liabilities.  The company does also seem to run prudently.

Entered at 0.2 SGD. NCAV ratio at 60%. Market cap of 44 million SGD.

 

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Entered Clarious Group (ASX:CND)

Clarious Group is a requirement service company listed on the Asx. The share is trading at NCAV ratio of 0.47 and the current assets are mainly receivables. Entered at 0.089. Market cap is circa 8M AUD.

A more detailed write-up is available at Cigarrfimpar.