GILBERT Holdings is mainly engaged in the trade, development and supply of flax and linen products. This time last year, Cheerful Securities put a hold on the stock, saying the company should enjoy the benefits of the expanding linen industry. This proved poor advice as the stock was one of the major victims of the small-cap rout that ensued when Asia's financial turmoil hit Hong Kong. Last January, Gilbert shares traded at $1.01. Now they are worth 58 cents, having trailed the HSI by 27 per cent.