• Australian (ASX) Stock Market Forum

RIS - Richfield International

Discussion in 'Stocks Q-Z' started by springhill, Jul 23, 2012.

  1. springhill

    springhill Make the drill work for YOU

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    MC - $2m
    SP - 2.6c
    Cash - $10m

    Directors
    Steven Pynt, Non-Eexcutive Chairman
    Chak Chew Tan, Managing Director
    Jennifer Lim, Executive Director
    Andrew Phillips, Independent Director
    Jwee Phuan Ng, Non-Executive Director (appointed 17 February 2011)

    The principal activities of the Richfield Group during the financial year were the provision of port and shipping
    services for ocean-going vessels engage in the liner and tramper trade, spot marine container sale and
    purchase, and an operator of containerisation in liner shipping services.

    The transport industry is something I am not that familiar with, but this company has cash reserves 5 times its market cap.

    Could someone shed some light on this one?
     
  2. skc

    skc Well-Known Member

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    This stock regularly comes up when I run scans of cheapest price / NTA... but never bothered to buy.

    Feels like an insider stock which basically has limited reason to be listed, and directors have little or no reason to look after the interest of minority holders.

    Unless you have control, they could have $2 billion in cash, you still wouldn't benefit as a small holder.

    Just my :2twocents - they could announce a 5c return of capital tomorrow for all I know.
     
  3. Ves

    Ves Beyond Good and Evil

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    Still coming up without fail. Half-yearly today even showed a profit and an increase in the cash on hand. Still trading for less than cash on the balance sheet (even if you took the on-market ask).

    But you're correct... it's a matter of no control, and they have no reliable record of returning cash. Not my kind of thing, but someone might find it interesting.
     
  4. Klogg

    Klogg Well-Known Member

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    Every time I see this company's stock code, it just reminds me of Seth Klarman's book and his need for a catalyst to buy (probably because I came across RIS when I was reading it).

    Is there even a good reason for the company listing?
     
  5. System

    System Administrator

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    On September 29th, 2016, Richfield International Limited (RIS) was removed from the ASX's official list in accordance with listing rule 17.14, following despatch of compulsory acquisition notices by Mercantile OFM Pty Limited.
     
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