Buy @ $0.225, $0.22
Just doing my job to provide some support to the share price… The coming Q3 (Jan) results is seasonally their best but with Q2 having turned in a loss plus weakness in EPS since 2013, I'm not too surprised at the recent continued price weakness… Shares Buy Back was last seen on 7-Aug-13… Cash level had also been declining since 2013… A rather gloomy future…
My original intention was to reduce my stake but at today's prices, I decided to take a bet… by buying… I'm not expecting any positive surprise for the coming results as 8Raja sales had been pathethic.. only a couple of units and unlikely to turn in a profit. Still, the Dec period is the time for them to make the most EPS and likely to stay above 1ct (1.2 to 1.4ct for previous years). The wild card will be Shares Buy Back… but I'm not placing too much hopes..
Going forward, biz ought to stay profitable, even if it continues to decline. 2014 ought to see the completion of their new office cum warehouse and result in some savings from rental expenses… Let's see..
But, I may still suddenly cut off my entire stake if there're better alternatives… 😀