Wee Hur announced that it will be disposing a huge proportion of their stake in the Australia PBSA. The deal values the student properties at A$1.6B which is what was mentioned in the media previously. No surprises there. Details of the disposal in brief -Proceeds of S$320 million or 34.8 cents SGD -Record a gain of 9 cents SGD -13% stake retained -Deal expected to complete sometime in 2025 Is this a good deal based on the current price of 0.475? Current Price indicates a market cap of 436.64 million 13% of A1.6 billion would be 178.1 million SGD (Student Accomodation) 2H 2024 Profits of Australia PBSA (Estimated around 12M, based on rental revisions and operating profit of $20.6 million in 2023) 117 million of spare cash 95m of receivables Workers Dormitory (26M Profit in 1H 2024 but only 60% stake so 15.6M) Bartley Vue Development (TOP 2026) Since total liabilities is around 320 million as well, this means a clean sweep of the balance sheet to no liablities. Doing a simple calculation...