On one hand, W Capital Markets points out that the offer price of 31 cents per share is a P/NAV ratio of approximately 0.364 times, or a discount of 63.6% to the NAV per share.
W Capital Markets, the independent financial adviser for the privatisation of Sinarmas Land (SGX:A26
) , is of the view that the 31 cents per share offer tabled on March 27 is not fair but reasonable.
Sinarmas Land is controlled by Indonesia's Widjaja family, whose other listed entity here on the SGX is palm oil company Golden Agri-Resources (SGX:E5H) . The Widjaja family back in 2023 privatised their coal mining company Golden Energy and Resources (SGX:AUE) .
