Buy @ $0.235
Went crazy, buy at my highest price ever! Someone sure has a lot to sell at this price, clearing the Buy Q every time. Got another fella, keep buying at $0.24, 1 lot each time. Skali same fella…. trick people like me to buy… 😀
With the AGM, an EGM will be held after it for shareholders to vote on their proposal for a Share Buy-Back mandate. Unless it's a smoke-screen, it's very unlikely that Mr Chou is planning to do a General Offer after all. Perhaps his stake of 57.03% is too low and likely to fail unless he offers at a much higher price. I think better chance of success if he has >70% stake.
Anyway, with a Share Buy-Back mandate (if approved), it can actually help him reduce the no. of shares, thereby increasing his %.
Will be watching the Q113 (Jul) figures closely. If no more growth, better start running….
As for Ei8ht Raja (near Balestier Rd), it looks like they'll only launch next year when it TOP. Previously, I look at it as a cup Half-Empty ie. fearful that it'll result in huge write-downs if they can't sell. But now, I see it as Half-Full ie. I think their Balance Sheet is strong enough (lots of cash) such that they're sticking to their rather unique approach (in Singapore context) to launch only when it TOP! I guess (and hope) they'll only sell when there's profits… so ya.. potential for additional earnings next year??
Lastly, PE = 6.35 ; Yield = 5.532% to convince myself… What's worrying is the low NPM = 5.52% (improved from FY11 = 4.56%). But, in the AR2012, the Chairman statement said they're the No.1 in Singapore, Malaysia and HK! If they can't make $$ with their No.1 position, who else can? Very likely, NPM too low becomes a good Entry Barrier + Competitors died a natural death, so consumers have not much choice but to continue to buy from Popular Hldgs.. 😀
So, in summary, scrutinise the Q1 (Jul) results closely for clues… should be due aro' end-Aug to B-Sep.
