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Showing posts with the label Stamford Land

Stamford Land - Stamp of approval

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Thesis : Asset play on an illiquid Net cash company with no gearing. Essentially, I have access to numerous property with an absence of gearing, which acts as a debt Free REIT to earn rental income as well as potential divestment to unlock cash flow. Its holdings of prime property makes the holdings a relatively safe assurance of value, and there is no risk of fire sale (No gearing and healthy liquidity ratio) as I can wait patiently for the market to realize its value. Sentiment on stock greatly battered by poor corporate governance (Minority shareholder oppression). Issue has been amiably resolved and there is reshuffling of independent directors in a bid to improve corporate governance. The collapse in profits is only temporary and has largely recovered. There is shareholder friendly actions of continual share buyback instead of mandatory dividends to return capital to investors, which are ac-creative as company is trading below its Net Asset Value.  There is manager-shareholde