By Kris Sayce – Port Phillip Insider (Australia) –
According to the Bloomberg description of Quintis:
‘Quintis Ltd operates as a forestry management company. The Company focuses on the hosting and cultivation of sandalwood album. Quintis offers sandalwood oil products, as well as oil-bearing wood that is used to create fragrant jewelry, exquisite carvings, and ceremonial items for worship and furniture globally.’
Although, we’re not sure that it’s a nice enough business to justify a $460 million market capitalisation.
Of course, the first thing we think of when anyone mentions Australian forestry and plantation businesses, is Great Southern Plantations.
That particular operation listed in 1999, to great fanfare. It hit a high of $4.76 in 2005. It then collapsed, and went bust in 2009. The shares last changed hands for 12 cents apiece in 2009.
While we’re sure there are many differences between Quintis and Great Southern Plantations, our bearish nature can’t help but notice the glaring similarity.