Sell @ $0.84. Q1 results were out last nite, DPU = 1.6ct (not paid as semi-annual policy). Above their projection of 1.5ct but way below my expectation as Q407 was 2.2ct. Yield = 7.643% @ $0.84.
Main positive is that they’ll appoint a sales agent for their Oz assets which is valued at ~S$600M+ or ~ $0.875/share. Their plan is to reduce their debts (gearing now 44.8%) and shift focus out of Oz to Asia. The coming year will be one of consolidation and organic growth, rather than acquisitions. 😀