GP Batteries

GP Batteries: Last week, chairman and CEO of GP Batteries, Andrew Ng, jumped to his death in Kwai Chung, Hong Kong. According to a police source, Ng, who is also the vice-chairman and executive director of GP Batteries' parent company- Gold Peak Industries (GPI), had been troubled by his company’s business over the past few months and had been depressed. We note that GP Batteries have been making 52-week lows in Jan and Feb this year, and was previously touted as a privatisation play back in 2010- with GPI holding 53.2% stake in the company. At the current price of $0.56, GP Batteries trade at 0.24x P/B and is loss-making.