Posted on January 23, 2008 - by Drizzt

Orient Century

By: Drizzt

This company was brought to my attention by Brandon. What attracted him to this was its huge cash holding. I see this as more of a lack of opportunity to deploy this large cash holding.

The education business in China should have plenty of room to grow. Raffles Education has been making headway into this area. Knowing that they are a shareholder in Oriental Century is comforting.

The last Net operating profit after tax stands at 30 million RMB.

At 42.5cts, its mkt cap is 401 mil RMB. Its got a cash holding of nearly 163 mil RMB. Minus away this and add debt, you get an Enterprise Value of 238 mil RMB (it has near zero interest bearing debt)
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