Blumont

Estimated Blumont's Jun 13 proforma NAV to be 5.8¢ post rights but this is a moving target as 75% of its NAV was based the valuation on its financial holdings in Asiasons Capital and Innopac, which in turn has interests in other sister companies. The recent collapse in the market cap of these crossholdings would have wiped out a large portion of its NAV. Assuming we value its financial assets at 10% of its Jun 13 valuation, NAV would drop to 1.8¢.