SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Asia Forum
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Stitch who wrote (2281)2/20/1998 1:59:00 AM
From: B Tate  Read Replies (1) of 9980
 
Stitch and Worswick;

Just got more info on SDarby. Sime Securities got caught with an 800 million (yessssss mil.) "problem" with ONE person/client that forced the suspension of Sime Securities, a division of Sime Bank.

Sime Bank was recently pruchased by SDarby the following is excerpted from two editions of a 'for fee' research/market guide published in mid Feb.

SDarby - comments
Most recent: Recently-acquired Sime BAnk group will be a massive drain on the group's resources. Further profit downgrades a possibility. Unlikely to trade substantially above book.

Old recommendation -hold - New Recommendation -reduce- Higher provisions at Sime Bank and lower prospects for the group's overseas units.

Some numbers for your distillation:

Price - 4.28 (16 Feb date of report)
Near Term Fair Value - 3.00
P/B - 1.7
P/E - 11.9
Yield - 4.9%
earnings Jun 97 35.9 sen 18.2% growth
est. Jun 98 32.4 sen (9.8)
est. Jun 99 31.4 sen (3.1)

The 800 Mill is in the process of negotiation for being rolled into long term debt at some percentage (unknown at this time from this source)but overall does not make a pretty picture. I'm OUTA here. TOOOOO many unknowns as I had originally expected.

Its tough trying to get info on companies here in general and when they start to go down they really circle the wagons. Its like trying to grow grass in Mojave.

Sorry Worswick, not the news you expected.

Best
Bt
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News