Buy @ $2.91. Add more at a cheaper price. STI continue to drop, now -30 @ 3040. Seller '08' – CS, same as yesterday. 😀
HLFin @ $2.99
SingTel @ $2.93
Buy @ $2.93. Back as shareholder again. STI -16 (3070), looks like the market is not happy with the Budget as there's not much tax benefits for larger businesses + restoration of Employers' CPF (0.5% in Sep-11). Seller CP '08' – CS. 😀
| Time | Price | Trade size | Type |
| 09:29:30 | 2.930 | 30,000 | Sell Down |
| 09:29:30 | 2.931 | 10,000 | X |
| 09:29:29 | 2.930 | 229,000 | Sell Down |
| 09:29:07 | 2.930 | 9,000 | Sell Down |
| 09:29:06 | 2.930 | 38,000 | Sell Down |
StarHub @ $2.56
AIMSAMPReit @ $0.215
Sell @ $0.215. Buyer '11' – MF Global. I think they must be the one buying up aggressively. 😀
As mentioned in my earlier post for Cambridge, I have decided to reduce my stake in AIMSAMPReit. It xd tomorrow for an advance DPU = 0.285ct due to their just concluded Private Placement @ $0.1976 (10% discount). Although the Yield @ 9.5% with Gearing @ 34% looks attractive, I'm quite concerned about their seemingly aggressive intent to grow their AUM (Assets Under Management). This means more Equity Fund Raising Exercise + Private Placements (at hefty discounts). They have also indicated their intention to expand into China market in an interview with Edge Magazine.
As I have a lot of AIMSAMPReit shares due to recent purchases and 2 Rights Issues, I have decided to reduce my stake. I'll either switch to other equally risky Industrial REIT such as,
- Cambridge : Yield = 9.2% @ $0.515 ; Gearing @ 33.4%
- Sabana : Yield = 8.85% @ $0.975 ; Gearing @ 26.5%
- CLT : Yield = 8% @ $0.96 ; Gearing @ 23.4%
I may also buy back AIMSAMPReit on any price weakness. The ideal price would be 19.76ct (Placement) + 0.285ct (Advance Div) = 20.045ct or lower. 😀
StarHub @ $2.59
Buy @ $2.59. Yield @ 7.722%. Seller CP '73' – Macquarie dumped 138 lots. 🙂
Latest results on 11-Feb. Although EPS = 4.69ct for Q410, Starhub have stated that they'll continue with the DPS = 5ct / Q for FY11. As I was worried about EPS being lower than DPS (I was expecting EPS to recover back to 5ct in Q410), I went to read the Cash Flow to check if they are depleting their Cash to pay out dividends. Some interesting points for FY09 vs FY10,
– Cash : $234.2Mil (FY09) ; $237.5Mil (FY10) => +$3.5Mil
– Debts : $895Mil (FY09) ; $805Mil (FY10) => -$90Mil
ie. Not Only do Starhub have enough cashflow for the Dividend Payout, but they even had extra cashflow to reduce their debts by $90Mil! I also looked at their CAPEX and there was no cutting down there either. The extra Cash Flow (to pay dividend) is coming from the Depreciation (a non-cash item). Let's hope I read the Cash Flow statement correctly. 😀
| Time | Price | Trade size | Type |
| 17:05:02 | 2.580 | 188,000 | Sell Down |
| 16:59:35 | 2.590 | 2,000 | Buy Up |
| 16:58:25 | 2.590 | 1,000 | Sell Down |
| 16:58:23 | 2.590 | 6,000 | Sell Down |
| 16:58:21 | 2.590 | 138,000 | Sell Down |
| 16:58:10 | 2.590 | 50,000 | Sell Down |
| 16:58:01 | 2.600 | 1,000 | Buy Up |
HLFin @ $3.00
Cambridge @ $0.52
Buy @ $0.52. Yield @ 9.1% with Gearing 34.7%. Seller CP '70' CLSA did a big sell. 😀
Decided to average down my existing holdings, especially since it's now even lower than the Rights @ $0.531 a few months back. The latest financials released on 10-Feb shows a healthier Gearing with good Yield, so I'll take a risk here.
With today's announcement by AIMSAMPReit of a Private Placement (at 8-10% discount) to fund new acquisitions, I'm also thinking of switching my AIMSAMPReit to Cambridge as both gives 9%++ Yield. My fear of AIMSAMPReit is they seem rather aggressive to grow their AUM and perhaps at the expense of existing shareholders eg. Huge Discounts via Private Placements.
| Time | Price | Trade size | Type |
| 16:39:58 | 0.520 | 250,000 | Sell Down |
| 16:32:35 | 0.520 | 1,334,000 | Sell Down |
| 16:17:47 | 0.525 | 2,000 | Buy Up |
| 15:52:46 | 0.525 | 70,000 | Buy Up |
| 15:51:02 | 0.525 | 1,000 | Buy Up |
| 15:44:14 | 0.525 | 30,000 | Buy Up |
| 15:36:52 | 0.520 | 19,000 | Buy Up |
| 15:36:24 | 0.520 | 20,000 | Buy Up |
| 15:36:21 | 0.520 | 400,000 | Buy Up |
KGT @ $1.12
STEng @ $3.14
Buy @ $3.14. Buy more to average down. Seller CP '73' – Macquarie and '78' – ML. 😀
As expected, Egypt problem seems to have been resolved. US have too much to lose from a disorderly change in regime due to the Middel East peace plan with Israel and Oil, so an orderly change is always the logical outcome. Let's see if the people of Egypt is happy with another designated replacement in the coming days.
Although the STI is rebounding (now +30 @ 3108), foreign funds outflow from Singapore (to US and Europe) is likely to continue as US is showing signs of recovery. But, STI may be ok for a while as Budget Day is on 18-Feb and 'feel good' goodies are expected.