Posts

Posted on

Sarin @ $0.906

Buy @ $0.91 & $0.90

New addition to my portfolio. Was out whole day, hand itchy using Mobile Trading. Blindly follow d.o.g. (from forum), no certainty that he's even holding any… Over the years, did occasionally take a look at their financials but had always decided not to buy any as it's just too illiquid. Sarin is an Israeli co. and their biz is in producing machines for Diamonds (I think cutting and polishing), with factories in India (I think to be near their major customers). Will try to spend some time this weekends to compile their financials…worst case next week when school reopens (will be freer). 😀

 

9 Sep 12 (Sun)

Current Price Weakness likely due to,

  • Q2 (Jun) results showing weakness + guidance for Q312 is weaker before possible recovery in Q412
  • Selling by Funds eg. FMR on 3-Sep-12 for 4,671,000 Shares (from 6.21% to 4.83%) & Fisher Fund on 12-Jun-12 from 5.02% to 4.5%
  • 1-for-4 Bonus Issue on 6-May-12 (list on 14-May-12), after good share price run up from 2011

 

Price Chart (Prior to 14-May-12, not adjusted for 1-for-4 Bonus Issue)

 

Sarin

 

Reference : Analyst Reports in SGX / Analysts' Presentations dated 6-Aug-12

 

From their IR website,

Sarin

 

All Figures in (US$'000) :

Sarin P/L

 

Sarin Balance Sheet

 

Sarin Segments

 

COMMENTS

Positives

  • Dividend Policy to Pay US1.25ct Semi-Annual (10% tax for Singaporeans) Subject to Proftitablity
  • Zero Debts ; Cash = $41.9M (~US12.41ct / Share)
  • Claims to be Industry Leader (I don't know how to check)
  • Plans to Expand into Related Consumables Biz eg. Disposable Parts (Polishing Plates + Chemicals)
  • P/L (Revenue, Profits) + Balance Sheet looks a lot Stronger than 3-4 Years Back
  • Shares Buy-Back in Action Recently

Negatives

  • Biz is in Luxury Segment (Diamonds, Gems) and Dependent on World Economy – Europe still in Bad Shape
  • Share Price has Run Up a lot since Last Year Likely Due to the Positive Points
    • Quite a few Funds are Vested – Can Result in Volitility when they Buy / Sell
    • Current Sell Down Likely Due to this as Sarin had Guided for a Weaker Q3
  • Q1 May Have been the Peak, with Q2 Showing Weakness and Expected to Worsen in Q3
  • FY08 and FY09 were Bad Years Due to US Financial Crisis but Still have Small Profits

 

ACTION

  • Will likely buy some more if it drops, to keep myself interested
  • Will remain wary of Q3 results – If real bad, then wait for further price drops

 

Note : Current Yield = 3.091% (Net of Tax) ; PE = 11.25 (10.46 using last 4Qs) ie. Hopefully a Balanced Growth + Yield, Small-Caps Stock

Posted on

SPH @ $3.93

Buy @ $3.93

Add to my collection for the coming FY (Aug) results in Oct. Did my Jump-Q, -2ct from 5pm price. STI dropped below 3000, perhaps finally going into a bearish phase. Seller CP '84' = UBS. 😀

Posted on

Popular Hldgs @ $0.23

Buy @ $0.23

Take the risk to Jump-Q at 5pm when I saw 84 lots in Q. Quite a lot done at this price today but Buy Q was too long for me. Either weak holders eg. Traders, are being weeded out or the sophisticated ones are anticipating a weaker Q1 (compared to last year, which has Properties sold) and the chances of prices to weaken after xd… 😀

Posted on

2ndChance @ $0.41

Sell @ $0.41.

Sold all, no more left. Sudden buy up today.

I strongly suspect it's due to their Shares Buy-Back. FY (Aug) results will likely be out in B-Oct and if I'm not wrong, Shares Buy-Back cannot be done within the 30-Days period before 1H and FY Results announcement. If I'm correct, then they're likely to be doing a last 'push', to use up their 10% (usual mandate) and at the same time, make it an incentive for Warrant13 holders to convert (Conversion price = 32ct) as they can then sell for a profit or for the coming 3.3ct dividend.

If so, then my next action would be to patiently wait for prices to correct back within the 30-days period. If I get to buy, then make sure i sell again before it goes xd. After that, will likely have another opportunity before Warrant13 expires on 27-Sep-13 and next FY results announcement. 🙂

Posted on

SPH @ $3.95

Buy @ $3.95.

Collect back at a higher price to prepare for FY (Aug) Div announcement. Last year was 17ct announced on 12-Oct. Yield = 6.076%, assuming 100% payout and same Div. 😀

Posted on

Cambridge @ $0.615

Sell @ $0.615

My last ones, no more left. Tried my Jump-Q before mkt open, but unsuccessful at last minunte. Realised losses here as these are old legacy ones, bought at high prices before the financial crisis in Jul-07. 😀

Posted on

2ndChance @ $0.39

Buy @ $0.39

Add to my collection. Went to Q before 9am as very few in Buy Q. The Share Buy-Back broker must have been late for work today as the Buy Q only went up at 9am++. 😀

Posted on

A-HTrust @ $0.885

Sell @ $0.885

Jump-Q at pre-open. Sell off my IPO ones. Leave those in TY's account (IPO + Subsequent Buys), else can be confusing if both accounts have the same stock. Looks strong and doesn't look like it's going to drop to previous lows of $0.86. Will buy on TY's account if it drops. 😀

Posted on

FE-HTrust @ $0.965

Sell @ $0.965

Sold all, none left. Been in Q since 9:17am. Should have sold yesterday @ $0.98 as it was there for quite a while, but, got greedy.

Changed my mind after staring at the Yields for,

  • CDL H-Trust (5.817% @ $1.97 ; 90% Payout) which is in Hotel assets (Singapore + Overseas)
  • ART (7.285% @ $1.24) which is in Serviced Apts assets (Singapore + Overseas)

If I were to average them together (to create a Hotel + Servcied Apt cmbo) => 6.575% or 6.98% (if take into consideration CDLHTrust 90% Payout).  Even after a discount (for Overseas risk), FE-HTrust Yield = 5.773% @ $0.965 doesn't look that attractive to me. But, since some of ART assets are in Europe where there's a financial crisis, FE-HTrust may be a better choice for some… 😀