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Saturday, 18 January 2014

SRS - Closing status 17 January

Divested Ascott Reit 3 lots in this week under SRS portfolio at $137 nett gain which par to its 1H2013 dividends 3 lots x dividends rate $0.04541 = $136.  This divestment is part of usual portfolio re-balancing and also, paying myself the dividends in advance than its scheduled payment timing.  It will announce its 4Q2013 and full year results on 21 Jan after trading hours.  In its 3Q2013 financial results, revenue +11% mainly driven by contributions from 17 properties in China, Germany, Japan and Singapore which were acquired in the 2nd half of 2012 and June 2013.  Increase in revenue was partially offset by the divestment in Sep'12 and lower contribution from existing properties in Philippines and Japan (due to depreciation of JPY against SGD).   Its recent rights issue 1.6 times subscribed.  Purposes of rights issue are to pay down its debt, to fund capex and AEI and for general corporate and working capital uses.    The increase in its debt headroom as a result of reduced borrowings will enhance its flexibility in pursuing potential acquisitions and at the same time improve its competitive positioning in the market via AEI plans.  Its gearing level post Rights will improve to 34.3% from 41.1% (end Sep'13 status).   

Portfolio walk since previous posting :-

+$7,578 Total Returns as of 31 Dec 

+$137 Nett Gain on sales of Ascott Reit

-$835 Unrealised positions worsened

+$6,880 Total Returns as of 17 Jan

previous posting :- SRS - Closing status 31 Dec

Remarks :- Profits locked in to-date $12,739 / year 2014 $137

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