Taz it now
Still shares have cheonged in recent months from S$0.11 cents to S$0.20 (now at 0.19)
For the half yr to end Junereported negative operating cash flow of $570m and a net loss of $14m. Its adjusted net debt, which counts inventories of oil and coal as cash, ballooned to US$2.4bn, more than its mkt cap, though the proceeds (US$800m ++) the recent sale (a crown jewel) should reduce the real net debt (excluding the inventories) by around 20%.
And if its accounting is to believed its NTA is around S$0.60 versus a mkt price of S$0.20.
Still an avoid as Noble Bahru has nothing to do with the old biz model of the Noble House.