Buy @ $2.16
Average down… 😀
Myanmar Brewery stake was sold on 19-Aug for US%560m (~S$777m).
Using info fm SGX Annc dated 7-Aug, EPS for FY14 (before fair value adjustments & exceptional items),
- 10ct (before disposal)
- 7.1ct (after disposal)
PE will increase fm 21.8 to 30.7…. Looks scary if no Special Div (mentioned in annc that proceeds is intended to be deployed for new and existing investments) to support prices…
But, if we factor in Cash of aro' 53.7ct / share fm Myanmar Brewery sale, PE = 23.14 (Share Price minus Cash / Share).
Not so scary,,, but they must redeploy the proceeds wisely…
Very likely, for the coming 2H results, Div = 3ct can be maintained… Keep my fingers crossed and hope for the best for the future….. 😀