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Sell @ $1.255
Decided to contra off, make some kopi-$$$. The Cyprus bailout has created an environment of uncertainty, no idea if it's going to be temporary (since Cyprus is just a tiny economy compared to the other Euro countries) or going to last longer (domino effect on other bigger troubled Euro countires?). I view STX OSV as a more risky stock as their biz is on a down cycle and am not sure if it'd bottomed, plus, Balance Sheet is not that great (Debts > Cash). In times like now, I'd rather buy for longer term only when they've confirmed their recovery, even if I have to pay a higher price. I'm still holding some more in my portfolio, but, for now, will treat it as a Trading counter. 😀
Buy @ $1.01
Add back to my collection, after selling some at a much lower price last year. Same reason as KGT, it now looks attractive as compared to others which'd gone up a lot more (such that Yield is now rather low). Yield = 7.01% ; Gearing = 35.8% ; NAV = $0.78. Majority of their Hotel assets are in Australia, one of the few currency which'd been able to match the strength of the S$ in recent years. Aberdeen had been buying (likely contributing to the rise in share price) and now holds a 10%+ stake. 😀
Sell @ $0.85
Decided to take some profit as this is another of my identified candidate to likely correct more in times of uncertainty. PE = 9.52 ; Yield = 4.7% ; Cash = 28ct ought to provide some strong support for a while. Still, their biz is largely dependent on the state of the economy and their low NPM of 5-7% don't provide a lot of margin of safety.
Someone is collecting patiently at 85ct and only showed hand during the last few minutes. They didn't bite at my bait @ 85.5ct, so stingy… 😀
Buyer CP '08' = Credit Suisse & '12' = Lim & Tan. Maybe it's the same person who'd paid 87ct in a large married deal last week.
Sell @ $1.36
Kind of regret not selling when it hit $1.4x the other week. Today, I'm quite spooked by the market reaction to the Cyprus bailout. As such, I have decided that at PE = 17.71, Sarin looks like a likely candidate to correct more severely if mkt turns real bearish. This is despite a Growth of Revenue (10%) and Net Profit (20%). I think better safe than sorry as after all, their biz is very dependent on the state of the economy.
Someone is patiently collecting at $1.36 but must have been frightened off by my continuous selling to them whenever they put into the Buy Q. Buyer CP '08' = Credit Suisse & '83' = CitiGroup. 😀
Buy @ $0.265
Finally got to execute my Sell-High-Buy-Low plan when I sold a fair bit from $0.27. But, I don't think I'll get to buy back those $0.255 ones when I thought the Shares Buy Back will be capped at Q2 NAV = 25.17ct ie 25ct. 😀
Q3 Results were out last Friday after mkt closed. Some highlights,
Other Comments
Q3 EPS was better than my expectation. I'd previously sold quite a bit at 25.5ct and more from 27ct when it started rocketing due to my negative forecast. As such, I'm now more optimistic and today's sell-down (also likely helped by Cyprus bailout news) has made me decide to do some buy back. I was expecting it to be difficult to get at 26ct or lower as I may be competing with the Shares Buy Back program. But, that's not to say that it won't drop below 26ct if a severe mkt correction happens. As such, I'd not be too aggressive to buy back more and I'd also likely trade if opportunity arises.
Sell @ $1.275
Contra off 2 of my recent buys. Couldn't contra off all as my selling limit was hit (due to recent selling of Popular Hldgs shares). By the time the limit was raised, share price had retraced and I've also decided to hold it as I have become greedy for bigger profits. 😀
What's interesting today was the SGX Annc after lunch by Oz. They'd tendered their acceptance for 50Mil shares, leaving a balance of 13,316,000 shares (also sold 5.15Mil yesterday) or 1.13%.
The run-up in share price happened after the SGX Annc. Prior to that, it was hovering aro' $1.225 / $1.23.
Some thots,
Based on my thots', I'll most likely divest all my shares if the price hits >$1.30 or even close to it. As profitability was on the decline (down cycle) and Balance Sheet is not fantastic (Debt > Cash), I'd prefer to wait for a stronger confirmation of the return of their upcycle before committing for the longer term. Nevertheless, after my selling today, I ought to be able to sleep better tonight as I'd previously bought too many when it kept dropping… 😀
Buy @ $1.23, $1.225
Increased my bet. Dropped to a day low of $1.215 after I buy, below Offer Price of $1.22! Looking at the non-stop selling by Oz (substantial shareholder), very likely, they'll accept the Offer for their balance holding (5.8% as of yesterday). The show is getting more interesting as Offer closes tomorrow. As the selling by Oz is well absorbed, there're likely many traders + opportunists in the game now. As such, I'm short term biased now. Prepare to run fast, the day after tomorrow if opportunity arises. 😀