SMJ

SMJ: Stunning performance for its trading debut yesterday, after the counter spiked 18% from IPO price of $0.28 to close at $0.33. SMJ distributes premier carpets through a global network of more than 260 carpet dealers, carpet importers and carpet installation companies in over 20 countries, mainly in Asia. The established group has a track record of more than 25 years, and aims to become a one-stop office furnishing solution provider in the region. Anchor investors for the $25m market cap company include tile supplier Hafary Holdings, Chinese manufacturer Voxflor Industrial Park and individual investor Joshua Lim Teck Ming. Through its extensive outreach, SMJ is the appointed supplier for "Shaw Contract Group" since 1992, a US brand by Shaw Industries, a wholly-owned subsidiary of Warren Buffett's Bershire Hathaway. Sales from Shaw products contributed between 18-31% of top line in FY11-FY13. At the current price of $0.33, SMJ trades at a historical adjusted P/E of 9.4x.