Oriental Watch: 0.45x Book, 2x 2018 Ex-Cash P/E, 78% of Mkt Cap Is Cash; 10% Dividend Likely in 2018

Oriental Watch Bullish Resolution and Action Points

Value Investor, Frontier Asia Capital

Winston Chu

Value Investor

Frontier Asia Capital

Equity Bottom-Up

<p>Oriental Watch looks like a deep value play trading at a deep discount to book value, but the underlying realities of the business imply it's a value trap.  At today's "cigar butt" valuation, investors may want to consider exiting after the first puff.</p>

Oriental Watch looks like a deep value play trading at a deep discount to book value, but the underlying realities of the business imply it's a value trap.  At today's "cigar butt" valuation, investors may want to consider exiting after the first puff.

Oriental Watch

Oriental Watch - Another Day Passes By