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yes, rare, but happens. There are companies have one off gain from hedging. Rare, but they gain. Why not Favco? So the assessment shouldn't exclude all the one-off element, in deriving intrinsic value. Because value is about everything it worth, including those management skills.
I think we shouldn't exclude the one off and forex losses in assessing the intrinsic value. The capability of the management in hedging the loss, offloading the costs to their customer, it's part of the management performance. If exclude everything, then we should exclude the existence of the weak management and useless blood-absorb substantial owner (muhibbah).
The money u can confirm to get back is 5sen(dividend declared) + 9.833sen to be payout in 2025. There is no news about what will happen after the payout.
If u want to bet for future, any price can in, because this counter no future prospect yet. The boss said edy, due to uncertainty and covid, UK and Aus venture is loss making. They complete the project, get back money and payback to shareholder now. So in future if they found any prospect, may require shareholder to inject new capital. But so far no news about any future prospect.
