Bought Innotek --- why?

I bought Innotek last week at the average price of $0.23 per share.

Will add in some shares next week. With the addition, my cost might go up a little bit (about 6%).

Why am i investing in Innotek:

(1) Trading below NAV of 52.9cts per share (2.3x against of my cost of 23cts per share)

(2) Cash per share: about 9.8cts per share (0.42x against 23cts)

(3) Negliable debts of $77k

(4) It has turned around since the first Quarter of this year under new management lead by the Group's Executive Director/Chief of Executive Office of Mansfield Manufacturing Company Limited, the group's operating unit: Mr Lou Yiliang:

1. 1. Gross Profit margin improved to 21.9% from 4.6% (Q32016 to Q32015) and 18% from 5.1% (9M2016 to 9M2015).
2. 2. New management has been working on improvements in performance and margins follow operational changes – to reduce costs (lower cost of material, lower salaries & wages, lower depreciation & PPE, maximise inhouse production to reduce subcontractors), increase productivity and strengthen customer engagement.

(5) The management is optimistic in the higher demand of Automotive & TV sector, while maintaining good relationship with existing top Japanese brand from Office automation sector.