Since after almost 2 months from the last post about my observations on Waterway Point, 穷小子 finally managed to get a small position today. The current book value is about $2.66. With based on today closing price of $1.52, I am quite comfortable with the 0.57 of the book value. As mentioned in the previous post, there are 2 minor concerns which need to be considered before making the buy call. Low liquidity and High Debt. Low liquidity The low liquidity is not much of a concern to me. Having an intention to hold it for long-term, and since is a small position only, quite confident that I will be able to sell it at my target price in the far future. High Debt Based on the latest quarter report, the Net Debt/Equity is 87.5%, an increased from the previous quarter of 83.8%. 穷小子 ......