Posts

Posted on

SingTel @ $2.91

Buy @ $2.91. Add more at a cheaper price. STI continue to drop, now -30 @ 3040. Seller '08' – CS, same as yesterday. 😀

Posted on

SingTel @ $2.93

Buy @ $2.93. Back as shareholder again. STI -16 (3070), looks like the market is not happy with the Budget as there's not much tax benefits for larger businesses + restoration of Employers' CPF (0.5% in Sep-11). Seller CP '08' – CS. 😀

 

Time Price Trade size Type
09:29:30 2.930 30,000 Sell Down
09:29:30 2.931 10,000 X
09:29:29 2.930 229,000 Sell Down
09:29:07 2.930 9,000 Sell Down
09:29:06 2.930 38,000 Sell Down

 

Posted on

AIMSAMPReit @ $0.215

Sell @ $0.215. Buyer '11' – MF Global. I think they must be the one buying up aggressively. 😀

As mentioned in my earlier post for Cambridge, I have decided to reduce my stake in AIMSAMPReit. It xd tomorrow for an advance DPU = 0.285ct due to their just concluded Private Placement @ $0.1976 (10% discount). Although the Yield @ 9.5% with Gearing @ 34% looks attractive, I'm quite concerned about their seemingly aggressive intent to grow their AUM (Assets Under Management). This means more Equity Fund Raising Exercise + Private Placements (at hefty discounts). They have also indicated their intention to expand into China market in an interview with Edge Magazine.

As I have a lot of AIMSAMPReit shares due to recent purchases and 2 Rights Issues, I have decided to reduce my stake. I'll either switch to other equally risky Industrial REIT such as,

  • Cambridge : Yield = 9.2% @ $0.515 ; Gearing @ 33.4%
  • Sabana  : Yield = 8.85% @ $0.975 ; Gearing @ 26.5%
  • CLT : Yield = 8% @ $0.96 ; Gearing @ 23.4%

I may also buy back AIMSAMPReit on any price weakness. The ideal price would be 19.76ct (Placement) + 0.285ct (Advance Div) = 20.045ct or lower. 😀

Posted on

StarHub @ $2.59

Buy @ $2.59. Yield @ 7.722%. Seller CP '73' – Macquarie dumped 138 lots. 🙂

Latest results on 11-Feb. Although EPS = 4.69ct for Q410, Starhub have stated that they'll continue with the DPS = 5ct / Q for FY11. As I was worried about EPS being lower than DPS (I was expecting EPS to recover back to 5ct in Q410), I went to read the Cash Flow to check if they are depleting their Cash to pay out dividends. Some interesting points for FY09 vs FY10,

 – Cash : $234.2Mil (FY09) ; $237.5Mil (FY10) => +$3.5Mil

 – Debts : $895Mil (FY09) ; $805Mil (FY10) => -$90Mil

ie. Not Only do Starhub have enough cashflow for the Dividend Payout, but they even had extra cashflow to reduce their debts by $90Mil! I also looked at their CAPEX and there was no cutting down there either. The extra Cash Flow (to pay dividend) is coming from the Depreciation (a non-cash item). Let's hope I read the Cash Flow statement correctly. 😀

 

Time Price Trade size Type
17:05:02 2.580 188,000 Sell Down
16:59:35 2.590 2,000 Buy Up
16:58:25 2.590 1,000 Sell Down
16:58:23 2.590 6,000 Sell Down
16:58:21 2.590 138,000 Sell Down
16:58:10 2.590 50,000 Sell Down
16:58:01 2.600 1,000 Buy Up

 

Posted on

Cambridge @ $0.52

Buy @ $0.52. Yield @ 9.1% with Gearing 34.7%. Seller CP '70' CLSA did a big sell. 😀

Decided to average down my existing holdings, especially since it's now even lower than the Rights @ $0.531 a few months back. The latest financials released on 10-Feb shows a healthier Gearing with good Yield, so I'll take a risk here.

With today's announcement by AIMSAMPReit of a Private Placement (at 8-10% discount) to fund new acquisitions, I'm also thinking of switching my AIMSAMPReit to Cambridge as both gives 9%++ Yield. My fear of AIMSAMPReit is they seem rather aggressive to grow their AUM and perhaps at the expense of existing shareholders eg. Huge Discounts via Private Placements.

 

Time Price Trade size Type
16:39:58 0.520 250,000 Sell Down
16:32:35 0.520 1,334,000 Sell Down
16:17:47 0.525 2,000 Buy Up
15:52:46 0.525 70,000 Buy Up
15:51:02 0.525 1,000 Buy Up
15:44:14 0.525 30,000 Buy Up
15:36:52 0.520 19,000 Buy Up
15:36:24 0.520 20,000 Buy Up
15:36:21 0.520 400,000 Buy Up