Yongnam just released their Q1 financial results and as expected, it's a bad report. For the rest of FY2014, Yongnam is still expected to report this kind of financials. Any contracts they are awarded now will only be reflected in their books from the second half of FY2014. Q1 revenue fell 12.4% which results in a marginal loss of S$1.9 Million. Yes, its a loss. I wrote in an earlier blog post that Yongnam's full year financial results for FY2013 fell by 49.7% as compared to FY2012. This resulted in it share price falling along in tandem as well. The share is trading at a fair value of 24 cents now with NAV at 24.79cents. Why did i invest in this stock when everything is so negative for Yongnam? Yes, for those who did not know, i did initiate a position in this stock when the ......