Australian (ASX) Stock Market Forum

RIS - Richfield International

springhill

Make the drill work for YOU
Joined
Jun 20, 2007
Posts
2,555
Reactions
4
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?
 

skc

Goldmember
Joined
Aug 12, 2008
Posts
8,277
Reactions
304
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?
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.
 

Ves

Beyond Good and Evil
Joined
Apr 18, 2011
Posts
2,467
Reactions
51
This stock regularly comes up when I run scans of cheapest price / NTA... but never bothered to buy.
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.
 
Joined
Jul 25, 2010
Posts
1,120
Reactions
282
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.
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?
 

System

Administrator
Joined
Jun 27, 2010
Posts
3,101
Reactions
77
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.
 

Similar threads

Top