Category: SingPost

Buy @ $1.525

Average up my last buy…

EGM today at 10:30am to approve new shares issue to Alibaba @ $1.74… Still no AGX Annc, also can’t find anyone posting the results in their blog or forum… As the issue price is by now a good premium to mkt price (it was proposed at a huge discount many mths back when SingPost mkt price was much higher, before issues of Corporate Governance, CEO + Directors resignations, Dividend Cut + Delays in Alibaba JV and New Shares Issues came along), it is very unlikely to fail… only possible reason to fail is the dilution to EPS and thus Div… 😀

Buy @ $1.465

Would hv preferred to buy back at $1.3x, having sold most due to fears of Dividend cut (heads-up fm new Chairman for a few mths before it happened). However, with EGM on 5-Jan to approve new shares issue to Alibaba @ $1.74, I hv decided to do a buy to avg down my $1.895 ones bought on 4-Nov-15. Possibly short term to bet on potential optimism due to EGM + New CEO… 😀

Current valuation is high if based on Yield and with Dividend Policy based on 60-80% of Underlying Net Profit + EPS is only expected to improve after SPC completes refurbishment in mid-’17.  Using 1H Underlying Net Profit,

• Max (80% Payout) Div Projection is 4.644ct (vs 7ct for past 2 years)
• Translates to a Yield = 3.17%
• PE (latest 4Qs EPS, excl Q4 as skewed by Extraordinary Gains) = 21.17 @ $1.465 (Mkt Close)

Sell @ $1.615

Just bE at this price, profit comes from 2 Div collected… Am left with my entry buy at a very high price…. 😀

Sell @ $1.595

Take profit for 3 previous buys… Alibaba deal finally obtained MDA approval… next step is EGM & SGX Approval for new sharesto be issued… EGM expected by Feb-19…  😀

Sell @ $1.53

Take profit on my only profitable ones… Started 5pm matching at $1.54, but matched lower… Range $1.52 – $1.545… 😀

Sell @ $1.445, $1.465

Cleared off 2 batches which turned profitable… 😀

Looks like mkt odds may be shifting slightly towards a positive outcome for the Ailbaba deal?? Deadline approaching as Oct gets closer…

Sell @ $1.43

Continue to sell on it's way up… As Oct approaches, hopes must be getting higher for the Alibaba deal… ??  😀

Sell @ $1.385

Reduce… sell the ones which turned profitable… Hit a hi of $1.415 before closing at $1.41… Mkt must be +ve on their 2 SGX Annc of selling their stake in an investment or their tie-up with Luxemborg Post to use each other as a gateway… Or some other reasons I'm not aware of… 😀

Buy @ $1.36

Add more as it continue to drop… 😀

Buy @ $1.375

Getting lower by the day… fears of Dividend Cut cum Alibaba deal not going through??  😀