Jason Marine - My CNAV Analysis

At my age, the power of memory is always not at my side, no amount of ginkgo intake can help to boost my memory. So, I need to work around it with the hard way i.e. keep using or practicing it as often as possible so that the chance of forgetting it is lesser.  

 

If you follow by earlier post, you will know that I've attended the Value Investing Mastery Course (by BigFatPurse) and learnt the calculation of CNAV (Conservative Net Asset Value). To ensure that I don't forget how to derive the value so quickly (even though we were provided with the ready to use template), I intend to use this blog to share my practices openly. Hence, just read it with a pinch of salt and not to treat this as a BUY/SELL signal ;-)

 

Stock In Evaluation : Jason Marine (5PF) 

The Key Quantitative Indicators of CNAV Strategy:

Net Asset Value (NAV)                             = $0.258
Conservative Net Asset Value (CNAV2)  = $0.111
Current Price                                              = $0.240
Discount For CNAV2                                = -120%

Conclusion : Since it is a negative "Discount for CNAV2", it means that the stock is traded at premium. However, it is at a discount of 5% when compared with the less conservative indicator, NAV. 

 

The P.O.F Scores of CNAV Strategy: 

 

Profitability Score         = 1 (With the PE ratio of 8.2)

Operational Efficiency = 1 (with three consecutive years of positive operating cash flow)

Financial Efficiency     = 1 (Debt To Equity Ratio of 76%)

Conclusion : A Perfect P.O.F Scoring

Final Conclusion : This stock is warrant to be in my watch-list.

Other Relevant News :
1. The company was the winner of SME Employer of the Year Award at the HRM Awards in May 2014. Click here for more details.

2. Share buyback in June 2014 (250,000 shares at SGD0.24) click here for more details. 

3. The Executive Chairman (Mr Foo Chew Tuck) owned more than 76% of the shares of the company (a good sign to me).

4. With the better performance in 2013, the company is giving out a special dividend of SGD0.008 to be paid in August 2014 (together with the previous declared dividend of SGD0.002, the total dividend is SGD0.01, which is slightly more than 4% yield)

Are you vested in Jason Marine? What is your take on this stock?

Cheers!