There has a very unique relation between Sealink and Tas Offshore. Both of them are involved in shipbuilding and ship repairing business.
Here is the comparison among the share price of Sealink and Tas Offshore. Among this five years, the share price of both always trading at the ratio around 1:2.
|
Date / Stock Name
|
Sealink International
|
Tas Offshore
|
Ratio
|
|
Jan 2, 2015
|
RM0.365
|
RM0.715
|
1:2
|
|
Jan 4, 2016
|
RM0.260
|
RM0.760
|
1:2.9
|
|
Jan 3, 2017
|
RM0.165
|
RM0.300
|
1:1.8
|
|
Jan 2, 2018
|
RM0.140
|
RM0.300
|
1:2.1
|
|
Jan 2, 2019
|
RM0.105
|
RM0.200
|
1:1.9
|
|
Date / Stock Name
|
Sealink International
|
Tas Offshore
|
Ratio
|
|
The highest within
5 years
|
RM0.745
|
RM1.65
|
1:2.2
|
|
The lowest within
5 years
|
RM0.09
|
RM0.18
|
1:2
|
|
Current share price
Apr 1, 2019
|
RM0.235
|
RM0.47
|
1:2
|
The share price of Tas Offshore always 50% higher than Sealink’s. Today Sealink closed at RM0.235, if based on the calculation which mentioned above, immediate TP for Tas Offshore should be RM0.47.
In addition, Tas Offshare has very good fundamental and future prospects.
(a) Good cash position and healthy balance sheet, as good as Carimin Petroleum, with total borrowings of RM38.1 million and RM25.7 million cash equivalents.
(b) IPO price RM0.90 and NTA RM0.91, and now you can buy cheap at RM0.30. Just like IPO price of Carimin at RM1.10, and you can buy it at RM0.30 few months ago before it shot through the roof.
(c) Turnaround already. All real profits, no any disposal gains.
(d) Good prospect ahead — thanks to booming Indonesian mining industry.
Some useful links to refer.
https://klse.i3investor.com/blogs/ekorharimau/200510.jsp
