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Saturday 7 June 2014

SRS - Closing status 6 June

Invested into GRP Ltd 50 lots in this week as part of usual and active stock holdings re-balancing.  For its HY2014 financial results, revenue +5.7% with growth in all the three business divisions.  Strong demand in Hose & Marine and ramp up in orders from a middle east customer for its uPVC.   Administrative expenses -6.7%.  Profit 24.4%.  Free cash flow status at the moment.  Cannot understand reason(s) for not declaring any dividends with this set of good results.  It recently announced termination of its projects and development works in Myanmar.

Based on my stock holding of Tee International l have been given a bonus issue on Tee International Warrant W170526 of 18 lots.  Sold away the entire 18 lots of it in this week for $1,034 nett gain; as part of usual and active stock holdings re-balancing.  

Invested into K-Green Trust (now known as Keppel Infrastructure Trust) 10 lots in this week as part of usual and active stock holdings re-balancing.  For its 1Q2014 financial results, revenue -1.3% versus last year; profit +9.4%.  Higher profits driven by lower electricity price from measures taken to mitigate the volatility of electricity cost by fixing the price, and the savings from the solar photovoltaic (PV) system which generates electricity for plant consumption.  No borrowings.  It is quite a defensive stock as all three assets in its portfolio have long-term concession agreements with NEA and PUB.   Senoko Trust and Tuas DBOO Trust derive most of their income from capacity payments, which offer a stable source of income with little correlation to economic or demographic fluctuations.  Ulu Pandan Tust's income is derived in equal parts from availability payments and from NEWater output payments.  In connection with the reorganisation of Keppel Integrated Engineering Limited (being the sponsor of KGT) and Keppel Energy Pte. Ltd. under Keppel Infrastructure Holdings Pte. Ltd. (KI), the investment mandate of KGT will now cover a wider range of infrastructure assets, so as to align with the wider business activities of KI.  KI currently has three core business platforms in Gas-to-Power, Waste-to-Energy and X-to-Energy, the latter of which spearheads strategic developments into alternative energy sources, energy conversion and integration of the energy value chain, as well as encapsulates other energy infrastructure businesses such as district heating and cooling.

 SRS stock holdings walk since previous posting :-

+$9,635 Total Returns as of 30 May

+$1,034 Nett gain on sales of Tee International Warrant

+$569 Unrealised positions improved

+$11,239 Total Returns as of 6 June

previous posting :- SRS - Closing status 30 May

Remarks :- Profits locked in to-date $16,182 / year 2014 $3,580

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