Shares & Derivatives
ASTI – Dragon Group its 61.6% subsidiary to sell 100% of Dragon Technology & Distribution for US$19.4mn, its NTA……what does this mean for ASTI ??
By Kevin Scully-Financial Blog  •  September 14, 2012
ASTI - Dragon Group its 61.6% subsidiary to sell 100% of Dragon Technology & Distribution for US$19.4mn, its NTA......what does this mean for ASTI ?? Friday, 14 September, 2012  8:57 AM Posted by Kevin Scully  ASTI announced last night that its 61.6% listed subsidiary Dragon Group has entered into a sales and purchase agreement to divest its 100% stake in Dragon Technology & Distribution at its NTA of US$19.4mn.  In its half year ended June 2012, Dragon reported a 10% decline in revenue and a loss of S$1.23mn.   We dont have detailed numbers on Dragon Technology and Distribution but it would appear that most of the debt in the ASTI Group and Dragon come from this entity in terms of short term working capital debt and the sale is good for both Dragon and ASTI. As of yesterday, the market capitalisation of Dragon ......
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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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