What is Fatfish & its Primary Investments, page-111

we cannot put a definite valuation on FFG's non listed company which seems to be doing really well as payslow slow, fatberry etc.. Currently, FFG perhaps is valued around just its listed company. One of the issue with valuation is many companies are intertwined as : FFG owns ici and Albeco and they both own certain portion in rightbridge and few other. I have tried to estimate current listed market :

	companies	stake	current market cap	ffg market cap
1	albeco	50.1	32.21	16.13721
2	ici	30	96.14	28.842
3	total			44.97921

ici recently has gone through capital raise so I have decreased ffg stake.
other than this Fatberry, payslow seems to be going really well and I am more probably excited about this two growth than any other. I have been in ici page as well and investors look really excited about lemon sky aquistion and believe with increase in profit its share value may reach upto 50 cents but thats on future to decide . Rightbridge seems to be going really well which FFg have around 68% stake and same about VOPY. we have not heard much about iharap so no idea about that. FFG is not only undervalued ..it is also a very high growth company.. so best of luck to all holders.. I will try to accumulate as much as I can.