Short-term investments: RM902 million
Cash: RM120 million
Total cash & equivalents: RM1.022 billion
Total liabilities (short + long term): RM71 million
✅ Net cash: RM951 million
With 558 million shares outstanding, net cash per share = RM1.70.
Yet the stock trades at RM1.30 — cheaper than cash.
That’s before including ships, FPSOs (e.g. Perdiz), EMC Papan, land, yards, and any future earnings.