Sell @ $1.045
While monitoring HLFin during 5pm matching, suddenly saw SingPost Qs were @ $1.05. Was @ $1.025 just before 5pm and got bought up to $1.03 during the last few minutes. Finally closed @ $1.045 during matching. Volume is larger than normal today and some funds must have suddenly decided that they need some in their portfolio!
Anyway, sell 1st as I was already not too happy with their recent Q4 results released on 27-Apr. EPS dropped from 8.369ct (FY11) to 7.407ct (FY12) and will likely drop further when they have to start paying interest for their $350Mil of 4.25% Perpetual Securities if they have not acquired any new Yield Accretive biz. New CEO also sounds very aggressive and I'm afraid he may be planning some ego-boosting acqusitions with the Cash = $617Mil (from PERPS + Bonds + Retained Earnings). Buyer CP '84' – UBS. 😀