Buy @ $0.83. Incredilble 21% yield! With the big financial institutions in US falling one-by-one, there’s a severe credit crucnch and any co. with large debts are being sold down a lot. Am taking big risk here. Will have to sell something (at a loss) to pay for this! 😀
After buying, realised that AIA holds a 11.11% stake in FSL thro’ various Asian and local cos. It may help to explain the 15% drop today as AIA may be facing redemptions from the long queues at their office! It may also explain why MP-REIT also dropped 15% today as they have a 11% stake there (but MP-REIT drop may be due to their association with Macquarie which is also facing a sell-down).