Buy @ $3.88, $3.86
Prices are falling every day! One possible reason from SGX Annc after mkt closed… The issuance of 2 MTNs of $275m @ 2.95% & $325m @ 3.85% to fund the construction of a new yard (ongoing) and a new steel facility. Expected completion aro' Q315, which means Interest Expenses of $20.625m / yr or -3.51% impact using FY13 EPS.