Stock Alert : Blumont
Amazing Singapore. How many times did SGX send queries to companies in the past week on share price rises ?
Lost count.
If you had bought Blumont last year. Your SGD 15k investment would be worth SGD 0.5 mio today ? Who needs Toto ?
Interesting company. SGD 4.08 billion is its market cap (Olam is only SGD 3.477 bio).
Yet the company has only SGD 120 million in assets. Olam has about 15 billion in assets !!
What does this mean ?
Obviously the assets are worth a lot more than the balance sheet cares to show and Muddy Waters cannot blame them for being too conservative about it. Ironically, their major shareholder is a certain Clear Water Development.
Why didn’t Temasek spot this one of Olam ?
And can someone tell me what is happening to Ezra 5% 09/2015 bonds ?
Another observation.
Only 1 analyst seen covering this company so far.
Eva Dimensions ? Not too familiar with the name but the chap was brave enough to recommend an Underweight in July this year.
Malaysian syndicates are the best….remember CLOB?
Hahaha.
Now that is something we do not forget.