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China Metro-Rural Holdings Limited Message Board

  • whbuncensored whbuncensored Jan 29, 2012 12:39 PM Flag

    ot: Man Sang's Interim (6-month) Report

    (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).

    Darn shame about that divident!

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