Sunningdale Tech said in a filing on Sept 8 that Quarz Capital Asia’s stake in Sunningdale crossed 5%. “Quarz has been a long term shareholder of Sunningdale Tech. The COVID-19 situation provided a great opportunity to increase our stake in this high quality company at an attractive price,” says Jan Moermann, Chief Investment Officer of Quarz Capital.
“We commend Sunningdale for executing well and continuing to provide dividends to shareholders despite the difficult environment,” he adds. Sunningdale paid 1.8 cents dividend per share for 1H2020, down significantly from 3 cents per share for the same period a year ago.
“The company is still trading at an attractive discount to book value and we look forward to the company further ramping up its operations in 2021,” Moermann says. Sunningdale closed on $1.23, compared to its net asset value of $2 per share and its net tangible asset of $1.93 per share.
From a precision engineering company, Sunningdale has diversified into healthcare with the production of medical disposables such as bloodline, drug delivery, critical care, caps & closures), airway management devices and components, hearing aid components, orthopedic components, permanent implacnt medical devices and optometric devices.
