PAX: Another Net-Net Opportunity (PSE: PAX)

February 12, 2014 at 8:50 pm Leave a comment

Fundamental Enthusiast

On a previous post, I presented and defined a net-net opportunity. Paxys, Inc. (PAX, the “Company”) is another net-net opportunity with much higher upside (thanks to a reader who presented me the idea). PAX is a holding company focused on investments in the business process outsourcing (BPO) industry.

PAX has undergone corporate restructuring since 2012 which resulted in the build-up of cash in the Company’s balance sheet. To better understand the changes, below is the corporate structure of PAX in the beginning of 2012: PAX1

As of September 2013, PAX has the following corporate structure:PAX2

Below are the developments since 2012 to the third quarter of 2013:PAX3

Currently, PAX has only two operating subsidiaries namely, ScopeWorks Asia, Inc. (SWA) and Simpro Solutions Limited (SSL). SWA is a Philippine BPO company engaged in general and legal transcription, editing, proofreading, mortgage processing and data conversion services with clients in the US…

View original post 300 more words


Entry filed under: Phisix's Closet (PSEi).

DH ka lang ba? Renzie of Summit Securities Bacolod in Seeking Alpha

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed

“Just a Click of Your Time”

Spyfrat's Call




%d bloggers like this: