(as of Sept. 30, 2011) basic earnings: HK1.38 cents (diluted: HK1.36 cents) The divident was HK3.00 cents.
Equity HK$ 1,278,319,000 Shares out 1,245,950,000 (diluted) Book Value per share = HK$ 1.03
In September, a micro credit (lending small loans) business was started in the PRC. There are approximately 3,700 such firms licensed. If conducted prudently, such a business could be highly profitable.
Current stock-price shown at Schwab is US$ 0.0632 1 HKD = 0.1290 USD Hence, MSGNF is trading at HK 49 cents or less than half its Book Value.
If it weren't for the divident yielding 12.25% (assuming annual HK 6 cents divided by HK 49 cents stock-price), Mang Sang would likely be trading above US$ 0.10 closer to Book Value of US$ 0.133 at least. At US$ 0.0632 (HK 49 cents), the forward P/E is 17.8 (conservatively assuming annual earnings of HK 2.75 cents).