Finweek English Edition - - INVESTMENT -

We’ve writ­ten on the Don Group and value traps be­fore. Don seemed to of­fer great value as it traded be­low the tan­gi­ble net as­set value (TNAV), which was un­der­pinned by the ho­tels it owned, which were sit­u­ated in prime spots. But TNAV kept fall­ing and is now at 23.41c with net as­set value (NAV) now 3.41c af­ter be­ing 66c just a few years ago. Don has now off­loaded all

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