It's been quite a while since I last updated developments on SCI. Last, I managed to divest all my holdings at $4.80 before the vicious spiral downwards to where it is today. You can view the previous post here back in April. You might recall that I compiled 5 years of future cashflow into the DCF model to get an estimated intrinsic value. The model assumes a few things which I will recap quickly below:

• 1% Growth for the next 2 years and 2% for the next 3 years.
• Capex includes both maintenance and investment expansion, and the assumption takes into consideration a gradual 10% declines in capex each year by each year.
• Discount Rate of 10%.
• EBIT multiple long term average (2005 - 2014) of 11x.
• Net Debt Borrowings of $4,734 millions.

The estimated intrinsic value based on the above assumption came to about $3.30. Since then, a ......