Simple FV is 2X NTA (TP RM3.4). This is because, after I examine their asset list, NBV of ppty up to 2015 is about RM189M (excluding properties purchased from 2016 onwards, which may be overvalued). The current OMV of these ppty is likely two to three times higher, especially for ppty bought at very low prices over 20 years ago. While their auditor identified some issues, these can typically be resolved based on my banking experience. RM1.74 is nice entry price. Good luck!