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Sunday, 23 December 2012

SRS - Closing Status 21 Dec

In this week for my SRS portfolio I have sold off QAF 3 lots for a nett gain of $48.  Its next dividends is very far away, with XD date in May'13 and it is estimated to be at dividend rate of $0.04.  For 3 lots and at dividend rate of $0.04 l am targeting to get an advance dividends of $120.  With this week nett gain of $48, l will still have 60% to-go to achieve the advance dividends of $120.

Its final quarter or full year results is expected to be released end of Feb'13.  And it is likely to be a set of bad results. For nine months, its revenue came in flat versus year ago; profit was off by 47% compare to previous year.  Should QAF issue a profit advisory statement prior to its full year results in Feb'13?  Well, it did so already during 3Q12 results release whereby it lamented over volatility of raw material prices, regional markets and economies in the next twelve months and hence profit level for FYE 2012 will be lower.  Hence QAF will either maintain final dividend rate of $0.04 but l do expect it to lower it to $0.03 or much lower.

Portfolio walk since previous posting :-

+$3,509 Total Returns as of 14 Dec

+$48 Gain on sales of QAF

+$60 Unrealised positions improved

+$3,617 Total Returns as of 21 Dec

previous posting :- SRS - Closing status 14 Dec

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