Purchase: Ming Fai International Holdings (HK: 3828)

I will try to write up my evaluation when I get time but here are intial thoughts:
  • cheap stock in highly competitive market
  • micro cap
  • insiders and prominent investor ( David Webb) owns huge stake
  • no moat
  • vulnerable somewhat to US-China trade war (20% sales and 25% profit from USA, China slowdown)
  • good long term growth from China tourism growth
  • strong balance sheet
  • high dividend 

Purchase price (HK:3828): HK$0.81

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