Cheeky Quotes

Sunday, 27 July 2014

Cash - Closing Status 25 July

Donated $55 to Food From The Heart

Divested away Boardroom 2 lots in this week as part of usual portfolio re-balancing for a small $9 nett gain.  From its 3Q14 financial results, revenue +3.2%, profit -20.7%.  Higher revenue mainly driven by the continuing increase in activities in the Share Registry Services business.  Lower profit because of opex +7.7%, interest on borrowings +9.8%, income tax true-up.   At the moment it is in a legal suit matter in Australia of AUD 3.9 mil.

Divested away CM Pacific 15 lots in this week as part of usual and active Cash stock holdings re-balancing; total stock holding in it now at 15 lots.  For its 1Q2014 financial results, revenue +6% driven by the revenue growth from Yongtaiwen Expressway which accounted for 80% of its revenue.  Profit +14% driven by higher profit contribution from its toll road assets and the recognition of deferred income and effective interest income on compensation receivable from the relocation of certain toll stations along the Guihuang Highway. This was partly offset by higher finance costs and withholding tax and lower exchange gain.It recently announced the acquisition of Jiurui Expressway.  The Jiurui Expressway is a newly-opened expressway with promising growth potential in traffic flow. It is one of the key routes in Jiangxi Province, PRC and an important interprovincial boundary crossing, passing through Jiujiang Municipality, PRC and connecting with Ruichang Municipality, PRC. Due to its strategic location, it has experienced significant increase in traffic flow since it was open to traffic in January 2011. This growth trend is expected to continue due to the robust economic growth of Jiangxi Province, PRC. In addition, a number of expressways and bridges currently under construction in the surrounding areas will be open to traffic from 2014 to 2017. The traffic flow on the Jiurui Expressway is expected to be further boosted once these expressways and bridges are operational. These factors are expected to drive the Jiurui Expressway’s future traffic flow and growth in toll revenue.


  Cash stock holdings walk since previous posting :-

+$10,907 Total Returns as of 18 July

-$55 Donation to Food From The Heart 

+$160 Nett gain on sales of CM Pacific, Boardroom

+$365 Unrealised positions improved

+$11,377 Total Returns as of 25 July

Previous posting :- Cash - Closing Status 18 July

Remarks :- Profits locked in to-date $17,298 / year 2014 $5,805

SGX Equity Research Insights (SERI)

CNBC Asia Top News and Analysis