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Sell @ $1.50
Cut loss, a very hefty one…, clear my last lots. Usually very illiquid, today, someone is collecting and +8ct.
Although there's still a huge discount to NAV = $3.84, I doubt that the controlling shaeholder (Nan Fung), being an unlisted entity, would have much urgency to unlock value for the other shareholders.
Will continue to monitor thei Quarterly results to see if they will honour their previous intent to pay DPUs in 2015… 😀
Buy @ $2.13
Decided to buy back some as I'd taken previous opportunities of any unusual price rises to do some selling. For the most recent one, I'd even sold some of the oldest ones at a loss… treat it as a "short" (learn from Sam).
As they's stated that resumption of DPU will be in 2015, I'd decided that short term trades would be best… for now… despite the huge discount to NAV. Will adapt and change strategy on any new announcements. 😀
Sell @ $2.17, $2.20
I must have triggered the Buyer (CP = CLSA) to raise the price when I sold to their $2.17 Buy Q twice. Looks like collection on-going and may trend higher in the coming days.
Sold the last of my profitable ones and decided to sell some unprofitable ones also. I think 2015 is a long way to go before they start to pay DPU and I'll go for short term trades in the meantime. 😀
Sell @ $2.17
Take profit as +8ct today with Vol = 165,000 and Range = $2.09 to $2.19. The volume and price only started going up towards 5pm. I was hoping for a repeat of last month end as I'd suspected it's 'Window Dressing' in action. This time round, volume and price increase was lower.
The recent Q3 results was within my expectations – a Loss. With the sale of an asset in prior quarters, I'd noticed NPI will be lower than Finance Expenses unless they reduce their Borrowings with the Free Cash. Further, even though they have the cash for resuming DPU payout, they'd stated that this will likely only resume in 2015. In the meantime, even though NAV ($4.53 diluted) is at a huge premium, my current preferred strategy is to maintain a Base (for longer term) + Trading (for short term fluctuations). 😀
Buy @ $2.05
Saw a big block at sell Q during 9am pre-open and went to get some. It's getting cheaper by the day! Just to recap, unlikely to have DPU payout till 2015, but Nan Fung got their stake @ $2.98. From their past history, they appear to be long term shareholders, looking at their stakes in Sino Land & Sino Ocean Land, both listed in HKSE. 😀