Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Shun Tak: A Hong Kong Holding Company Trading At Significant Discount To NAV

Shun Tak Holdings (OTCPK:SHTGY) ("Shun Tak" or "ST" or "the company) is an investment holding company listed in Hong Kong, and trading at a wide discount to its net asset value ("NAV"). Shun Tak was incorporated in 1972 by Stanley Ho as a small ferry operator, then grew the business by investing in numerous attractive land assets and businesses in Macau and Hong Kong, including:

    Property development and sales, leasing and management services. Shun Tak recently announced expansion into Northern China with respect to its real estate development and related activities. Shun Tak also owns a significant land bank in Macau in which to develop real estate, including as part of its hotel operations (described below). Passenger transportation ...
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