Buy @ $1.64, $1.635
No idea why it'd been dropping recently, -6ct today. I was planning to acquire a stake long ago but the prices just kept getting higher. Take this as an opportunisitc buy ie. try for short term. For longer term, the yield = 3% is unattractive.
I like their biz, which is earnings from managing REITs listed in Singapore (CLT, Fortune, Suntec), Malaysia (AmFirst) & HK (Prosperity, Hui Xian) + Fund Mgmt (Aisa Dragon Fund, Harmony Fund,..). Every time any of the REITs acquire, dispose… they make some fee. If AUM goes up from rights issues, placement,… that means more fees… The key risk is their removal as REIT Mgr, but that'd be very difficult to happen as it requires EGM and there're many obstacles in place eg. Loans tied to REIT Mgr.. Key event coming up is Fortune EGM on new acquisitions… 😀