Firstly, let me start off by making a correction. A reader brought this to my attention some time ago actually, but I haven’t addressed it here yet.
In an earlier post I wrote back in May 2016 :
LTC Corporation (Part II)
I worked out how the acquisition of the 50% stake in USP is an asinine move based on a company net profit of $3.144mil and a purchase price of $24mil, the PE ratio is 15+, which is really high for a retail operation in Malaysia.
Well, SIAS (which stands for Smart Investors Always Succeed, cool name) must’ve either read the announcement and made the same mistake as me, or they read my report and fired off the same question to LTC’s management. I’m inclined to think it’s the latter.
Anyway, bless the guys at SIAS for asking. Seriously, can you guys look at some of the companies ......