Sell @ $1.19xd to reduce some exposure. Q’d since AM & done at 5pm when mkt close. Am expecting price weakness for a while & will buy back some if so.
More on Suntec at blogs,
- Bullrun : BT Article , Q3/05 Results
- StockPick : REITs, Case Study
Super CoffeeMix @ $0.445
Buy @ $0.445. Was waiting for price to drop but as mkt has been on the uptrend, may not happen. Anyway, this stock has not really moved and the price range is quite narrow, so just buy.
More on SuperCoffeeMix at blog, StockPick
Raffles Hldgs @ $0.955
Sell @ $0.955. A lot of mkt interest fm yesterday due to optimism in property stocks. Mkt have expectations that RafflesH may sell off their stake in Raffles City to REIT and become a casino co.
More on Raffles Hldgs at blog, StockPick
MapleTree @ $0.885
Buy @ $0.885 for yield of 4.61%. Try to catch those who shorted, see whether T+3+2 (3 or 4-Aug)can make some money. If not, then hold as I hv some from IPO @ $0.68, so average cost is $0.84.
In the mid term, price may drop but I’ll likely buy more. Even tho’ the yield @ 4.61% is not that good, MapleTree hv plans to acquire more property assets fm its parent within the next 6mths to 1yr (if they can get a waiver fm MAS. If not, worst case, 1 yr). Assuming it doubles its asset base (base is small, so easy to double) and at the same yield of 6%, we get an average of 5.31% (ave of 6% + 4.61%), which is not too bad after all. Further, as an exisitng shareholder, I may get preference for any new share issues, which is usually at 1:10 allotment (not fantastic but still better than IPO balloting where you may get none).
Disclaimer : The above is my opinion only. Do not rely on it for your investment decisions.
Suntec @ $1.23
Contra off some @ $1.23 to reduce my exposure. Implicit comments made by CMT CEO followed by head of Temasek on other S-REIT’s bad practices may cause price pressure. Current price likely supported by the many bullish reports by analysts. See Bullrun blog.
CCT A @ $1.49
Suntec @ $1.18
Buy @ $1.19, $1.18 and $1.17 for average of $1.18. Gone crazy 🙂
See Stockpick blog for my reasons.
Super Coffeemix @ $0.44
Buy @ $0.44 to average down very old hldgs @$0.79. Average cost is now $0.515. Very illiquid in volume and has been aro’ this price for a long time.
- 1mth : $0.435-$0.455
- 3mth : $0.425-$0.46
- 1yr : $0.405-$0.465
Have not done a detailed study but had a quick look at,
- Margin (improving fm 7% in ’01 to 14% in ’04)
- ROE (improving fm 5.7% in ’01 to ~12% in ’04)
- Yield 2.7% @ $0.435
- PE 12.2 @ $0.435
- NAV $0.3285 (ie. Share Price at a Premium)
- Dividend Cover (fm 2x in ’01 to 4x in ’04)
- Low bank borrowings due to capital raised from new shares placement
Looks OK except for NAV. Also, in ’04, placed out new shares @ $0.45 to Oei Hong Leong (22.51Mil), Goi Seng Hui (12.51Mil) and Ng Ser Miang (10Mil). Got it cheaper than Oei the corporate raider 😀
May do a more detailed study later but had been busy lately, so just buy 1st to average down my old hldgs. Also cash rich after all the recent sales 😀
Will not appear in my portfolio as held in trust elsewhere.
Caution : Don’t go rushing in to buy, do your own studies 1st!