Replies to post #2792 on Global Value Investing

[rjeezy007]

Sold them for 488M total, bought them for 182M and 147M each I believe. Used leverage as well. Pretty solid for less than 2.5 years.

[rjeezy007]

HK 366
Luks Group

Have you looked at this one? Primarily operates in Vietnam.

Cement business is alright, generated a decent profit for the last six months. Generated 689k tonnes for the first six months which is 1,378k annualized. This is well under the capacity of 2.8M tonnes that the plant can produce. So there's potential to increase revenues here.

Investment property business is more interesting I think. They own the Saigon Trade Centre which contributes to about 85% of their earnings in this segment. It also owns some property in China. Made a solid profit for the last six months.

The third major segment is property development. The current project in Vietnam is stalled due to the economic conditions and it also has some development in Mongolia. This is the worst performing segment but is small overall.

Currently selling at 40% of TBV. Assets mostly consist of investment properties on the books.

Check out the five year chart, look similar to the Vietnam stock market?

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=366:HK

Pays a small dividend too.