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Sell @ $0.545.
Contra off the 2 recent buys. Was just about to contra @ $0.535 (as one is due today) and was checking the huge buying done from $0.53. The next thing that happened was another spurt of buying till $0.545 and I happily keyed in my sell orders. Immediately, it's now $0.555 last done! Buyer CP = DBSV. 😀
Sell @ $1.08.
Reduce my holdings. Recent events at F&N (ThaiBev may be new controlling shareholder) is spooking me as I'm not familiar with their management style. I previously looked at ThaiBev IPO Prospectus and wasn't too impressed. Even after a few years of listing, I don't think they'd managed to grow their biz since Share Price seems to be languishing (before their offer for F&N shares to OCBC and GEH).
Results were out last evening. DPU = 1.7ct (not paid as semi-annual payout), better than 1H = 3.2423ct mainly due to acquisition of Aus asset. Yield = 6.363% ; Gearing = 39.5% ; NAV = $1.30. Even tho' Gearing looks hi and Yield low, the sale of KeyPoint (still pending some approvals) would have resulted in cash that may be used to improve DPU and/or reduce Gearing.
Will perhaps buy back if the situation turns positive eg. ThaiBev shareholders reject their purchase of F&N shares or if FCOT share price drop closer to $1.02 (like last week). 😀
11:26AM
Sell @ $1.09. Local CP = UOBKH. Now in Q to sell @ $1.095.
11:43AM
Sell @ $1.095. Local CP = DBSV.
4:43PM
sell @ $1.095. CP = BNP
5:05PM
Sell @ $1.095. Was hoping to Jump-Q @ $1.10 but was unsuccessful. CP = UBS
Am left with one last batch to sell.
Alloted @ $0.88.
Applied for 3 accounts (M-in-law also) and all got alloted! Looking at the balloting, very generous. 6.9x subscribed for Public Offer. 73,403,000 shares for stabilising action for 30 days. Listing on 27-Jul (Fri) 2pm. 😀
Am planning to hold for the Yield + Blind faith in Ascendas (JTC). But, will consider to sell if Yield drops below 7%. If share price drops, then likely buy more to collect. Note that their Hotels are mostly in Australia, with 2 (1 to be acquired after IPO) in Beijing and another in Japan. Mostly 3-4 stars hotels.
The closest comparable is CDL H-Trust where at $2.05, Yield = 5.454% ; Gearing = 25.6% ; NAV = $1.58. But, Hotels are mostly in Singapore (lower FOREX risk when include overseas hotels) and of a higher class.
For reference, A-HTrust @ $0.88, Yield = 8% (FY14) ; Gearing = 34.3% (37.6% after acquisition of Beijing SanYuan is completed post-IPO) ; NAV = $0.814. FY13 DPU = 4.61ct incl. 0.61ct from waiver of sponsor's entitlement which raised Annualised Yield to 7.741% (Prospectus put as 7.9%). So, High FOREX risk and little debt headroom (high Gearing) for yield accretive acquisition. Also, Ascendas record is +ve for A-REIT (Industrial Assets) but -ve for a-iTrust (India Assets).
From Phillip report,
Sell @ $2.58.
Spooked by STI -30+ and HSI -500+. Decided to take some profits 1st. 2H results were out in the AM. Q2 EPS = 2.31ct, a +5% growth y-o-y with Revenue +14.87%. Div = 1ct, unchanged. PE = 26.35 (latest 4Qs). Buyer CP '73' – MacQuarie & '26' – UBS. 😀
4:09PM
Sell @ $2.59. Got serious buyer collecting, sell till I'm left with 2 original batches. Buyer CP '73', must be the one supporting the price!
Sell @ $1.31.
Results were out this AM before mkt open. DPU = 2.5ct, lower than last Q = 2.7ct. According to their News Release, it was due to
"Loss of rental income during 20 Gul Way’s redevelopment and the sale of 31 Admiralty Road."
Yield = 7.634% ; Gearing = 29.7% ; NAV = $1.4003
Yield is no longer attractive to me for an Industrial REIT. Gearing is ok and discount to NAV is good. Still, take profit 1st (this batch is profitable) and coonsider to sell the older ones at a loss. 🙂