SINGAPORE (April 11): Shares of Thakral Corporation advanced for the third straight session.
The stock on Friday rose 15.4% to close at 30 Singapore cents. This was followed by another 10% rise on Monday to 33 Singapore cents.
This morning, Thakral’s share price climbed to a high of 38 Singapore cents, before settling to 34 Singapore cents as at 12.48pm.
Since last week, its market cap has risen by 26% to S$43 million.
The Edge Singapore on Friday reported that Thakral is looking at monetising some of its warehouses in Hong Kong as it moves towards delivering beauty and wellness products to China’s burgeoning consumer market.
As at Dec 31, it had S$40.14 million worth of warehouse space on its books classified as assets held for sale – more than Thakral’s market capitalisation then.
While the rally since Friday sees Thakral now trading above its assets held for sale, the stock is still currently trading at a 55.2% discount to its net asset value.
As at Dec 31, Thakral’s NAV stood at S$96.5 million, or 73.72 Singapore cents a share.
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