that it could be the next Ezion.
“End Feb Swissco announced that it will acquire
Scott and English for S$285M from Double Dragon Energy. This is effectively an
RTO from Tan Kim Seng to inject the Rig business into Swissco. With the
acquisition, Swissco will undertake a share consolidation of 2-1. The
consideration of 285M is satisfied by allotment and issuance of 452M shares or
sent 39c tumbling down within a day.
ROE at 16% and ROA at 8%.
are all value at 10 and Marco Polo PE at 8. Ezion is at PE 15. Malaysian
competitors such has average weighted PE > 30.
growth story coupled with its extensive networks mentioned in earlier blog,
seems like it is time for Long position!!!