Hope this is only the beginning.....presence in over 20 countries, sound nice and great...but when compared to Haio, that actually look very bad. Time to take bolder actions, unlock the power of 36m CASH!!

Best World hit 35.5 cents today......

At what price will you be willing to sell your Best World shares?

Still way undervalued if they can maintian Q4 performance into 2010.

Best World has been consistent in paying out div in 2008 and 2009.

final dividend : $0.01/share (FY08: $0.01/share).

interim: $0.012/share (FY09: $0.012)

Total dividend payout each year is $0.022/share, giving a yield of 6.19% based on the last done share price of $0.355. Hey, this is better than Fixed Deposit rates.

Taking out the Net Cash/share of $0.1808 from $0.355, Best World's operating business is valued at ......17.42 cents a share divided by EPS of 4.69 cents = PE ratio of 3.7X.

Let's peg the fair value at just 5X. That will gv us a stock price of .....48 cents.

If u want to sell at PE 5, u would be looking at 48 cents exit.

If it's PE of 7.4, which is still conservative, the stock price wld be 71 cents.

36m means nothing if there is No plan to return them to shareholders !

It's not necessary to just return the $36 m to shareholders if Best World can find clever ways to invest the money. Basically, it's about the return on capital. Currently, $36 m sitting in the bank earns the company a paltry interest income. But the company shouldnt just plunge into any M&A, or the money will be gone, which of course is far worse than sitting safely in the bank.