Key ASIC ~ Value drop around 84% ~ will you consider?

KEYASIC (0143) [Website]

Background:

• Key ASIC Bhd founded in 2005 (approx. 6 yrs in business) and listed on the main-board since Jan 2008.
• Key ASIC is a leading ASIC design company focus on communication and consumer electronics applications.
• Aug 2009 - Key ASIC bought up 100% of Gateway Silicon Inc. in cash. Gateway Silicon Inc. is a professional IC design service company in Taiwan.
• Key ASIC have offices in Malaysia, Taiwan, Singapore, Japan and US.

Current Share Price:  0.13



My View:
This share has dropped around 84% from 0.80 (Aug 2009).

The IPO price for this share is 0.40 in Jan 2008 ~ in less than two years time it reached 0.80 in Aug 2009. That's  100% increased ^_*

The reasons I consider this share for investment are as follows:

• Value drop around 84%
• Net asset per share is 0.14 ~ similar to current share price.
• Major shareholders are Khazanah Nasional Berhad with approx. 27.49% and CIMB Group with approx. 6.81%
• Share price steady around 0.15 since Oct 2010
• Key ASIC started shares buy back since Aug 2010, currently hold approx. 0.25%, assumed they bought with the minimum price, average cost is approx. 0.173 ~ higher than current share price. 

Keep an eye on this share. It might go up again once Key ASIC plan to buy another company like in Aug 2009?? Will the major shareholders willing to cut loss selling all shares at this point??

If you are not risk taker, you should consider put it in the bank for FD and get around 3% interest per annum.

For similar price, you might consider my previous posts:

1. HUAAN ~ started to provide dividends
2. IRIS ~ drop approx. 62% ~ will you consider?