Originally Posted by
LaserEyeKiwi
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Net Tangible Assets: Important to remember the company restated its NTA values on its “land and building” assets to a “cost basis” last year (as opposed to the fair market value, which they still listed in the annual report earlier this year as being worth ~$1 Billion). On their cost basis method, the groups net assets increased to $635.5m (up from $617.8m 6 months ago).
MCKs portion of net assets (cost value) is as follows:
Hotel Operations: $252.59m
Res. Property Dev: $82.328m
Res. Land Development: $176.528m (65.99% of $267.508m)
Investment Property: $21.832m (65.99% of $33.084m)
MCK Net assets (cost basis): $533.278m
Divided by 158,218,286m shares = $3.37 per share
MCK have the NTA updated to $3.33 per share today, so not sure where that 4 cents difference comes from, but probably some accounting explanation.
Using the fair market value from the March annual report, along with the latest cash balance and added proeprty assets the fair market Net tangible asset per share value is over $6.60 per share