Boon3 your request...

analysis of 55*$...

Good profit growth last 3Q...but now a bit stagnant... trading below BV, single digit PE... but low kiamsiap DY.

Margin is expanding YOY.. to about 5% now previously margin is very low which explain the rise in profit although revenue is less..

Chart looks to be on slow uptrend.. but consistent since september 2013

Financial assets...

Balance sheet ok... cash 43 mil, loan 110 mil not so great
Good FCF of 20-25 mil a year.. about 80% of profits..

Manufacturing and trading arm is contributing to most profits.. trading arm margin is very very low. 

The actual jewel in the crown is the water business... but only as an associate company

The other manufacturing consist of household products, edible oil (specilized consumer oil), noodles.. is secondary brand in the market. The other industril jewels are its glove manufacturing and PET bottling..

Expect revenue and profit growth to be 0%-10% p.a. so it is justifiable for this counter.

On shareholding..

there are noticible insider buying at 1.20-1.25 stage which is good...but one director is consistently disposing so it is mixed signals

Directors not overpaid.. so ok ..

Shareholder.. main shareholder >55%, small institutional holding.. but cold eye is one of the top 30 shareholder..

Asset last revalue in 2009.. not much hidden value

Conclusion...

Moderate growth, decent value counter....  if they can continue to expand margin then profitability will be up. A somewhat stable and consistent counter, maybe suitable for long term holding unfortunately DY is quite low....