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Sell @ $1.50
Cut loss, a very hefty one…, clear my last lots. Usually very illiquid, today, someone is collecting and +8ct.
Although there's still a huge discount to NAV = $3.84, I doubt that the controlling shaeholder (Nan Fung), being an unlisted entity, would have much urgency to unlock value for the other shareholders.
Will continue to monitor thei Quarterly results to see if they will honour their previous intent to pay DPUs in 2015… 😀
Sell @ $0.81, $0.815
Left my original entry @ $0.84 (collected one DPU = 1.25ct). Meant to be short term but got stuck and this "beach-head" led me to buy a couple more batches to average down.
Decided not to wait for Quarterly Results on 30-Oct as the original purpose was for short term. They refinanced their MYR (Malaysia Ringitt) debts in Sep at a lower rate. This will result in lower interest expenses, but, I'm expecting a positive DPU impact only in Dec Q. Altho' their SGX Annc factored in the refinancing costs into a higher effective borowing interest rate (still lower than old rate), I believe the accounting standards would require them to recognise this as an expense ie. we ought to see a lower DPU for latest Q. Anyway, my ball-park estimate is -0.05ct (plucked from air)…. 😀
Sell @ $1.40, $1.405
Last day of cd, managed to clear most of my extras. Looks like accumulation is on-going, with many foreign bokerage Buyer CPs… 😀
Will see if I can buy back at lower prices after it goes xd (tgt $1.375 and below), but looking at the current buying interest, it may be difficult. For next Q, am expecting Alexandra TechoPark to contribute max, another ~+10% (more conservative ball-pak estimate 5-8%) to DPU.
So, why sell? I ran out of free cash and I have bought a lot more than I intended for FCOT. The recent market weakness was scary… and I was unable to take much advantage of buying many stocks at much reduced prices as I have no free cash. So, learn and tweak my strategy… again…
Buy @ $3.71
Getting cheaper, average down my earlier ones…. 😀
1H results soon (last year on 13-Nov AM ; Div = 6.8ct since FY11). Earnings will likely be negatively impacted by the stong S$. The largest overseas contribution is from Optus and A$ had weakned ~5% in Sep Q. Their aggressive acquisitions via Amobee (US) in Digital Lifestyle biz is expected to contribute to Revenue, but little or no Profits.
So, why buy? PE = 16-17, not too excessive, altho' ideally, it'd be better to buy at lower prices for magin of safety. Yield = 4.5%, not that great but better than many other Yield Stocks. Mainly, buy for their dominant Pricing Power for Data (3G -> 4G), especially in Singapore, where consumers are being 'milked' at increasing subscription rates and becoming more and more addicted to higher and higher data usage… The risk is IDA may open up the playing field to REAL overeas competitors…
Buy @ $3.68
One of the rare few that's -ve today. Dropped ~10% since my buys, looks like a failure as a candidate for the Yield Rotation Strategy.. Prices are moving in sync with the Oil Prices… big drop due to Shale Oil production in US… Anyway, order book remains healthy… May have to hold for long term… 😀
Sell @ $9.67
Amazing… I managed to sell at the day's low, during 9am matching! Closed $9.80, +18ct! 😀
No more left as I only bought once. The whole world was mostly very positive during our Deepavali holiday yesterday, due to possible Euro QE pogram. However, US retraced somewhat last night. I was therefore not expecting STI to be too positive, bearing in mind the fears since last FED Mtg + next mtg is in a few days' time. Looks like I was very wrong….