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.