I've been incredibly patient on this one, working on the assumption that eventually share prices track the underlying performance.
A lot has been said about the net asset backing being several times greater than the present share price. I think you have to be carefull about property values in Malaysia - some sort of discount is to be expected though it does seem overdone here.
A Perth stockbroker (one of the honest ones) got me into this many years ago because he had a lot of faith in the Chinese businessman behind UOS. Unfortunately the stockbroker has passed on and I don't know anyone who has any contact with the company's management.
Unfortunately there is almost no liquidity (the management/board have hung in there) and the Aussie stockmarket is very sceptical of Asian businesses. If this had been listed in Singapore, the share price would be a multiple of what it is now.
I'm going to hang in there but I accept that it might be years before anything like its true value is realised by the market.
Sorry for the ramble.
Good investing !
UOS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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