Originally Posted by
LaserEyeKiwi
you are incorrect here - MCK traded at 80%+ of NTA a couple of times over last few years. Hitting that same level today would reasonably put it over $4.
Plus this company is a very different beast today compared to even just 5 years ago, with residential land development now accounting for a large portion of its revenue & profits now (even pre covid).
also worth reminding for those that are unaware, back in 2015 MCK spun off its China operations and shareholders received shares in a new Singapore listed company (or were paid for their shares if they did not want to Hold them) - that is not reflected in the share price history.
I also don’t know why people malign the Sydney Zenith operations - MCK has had a handsome return from this operation in the form of consistent rent and also frequently selling off units at large margins compared to their initial cost.