Cash - Closing Status 11 July

Reduced Asian Pay TV(APTT) 19 lots in this week for $42 nett gain which is part of usual and active stock holdings re-balancing; total holdings in it now at 4 lots.  For its 1Q2014 results, revenue -3.3% lower than the forecast in  the IPO prospectus; due to lower than expected revenue from Broadband driven by a lower number of subscribers, and from a lower ARPU due to the soft economic environment in Taiwan.  Revenue, especially from Premium digital TV and Broadband, is expected to increase throughout the year.  Profit -3.9%.  It has re-affirmed distribution guidance of 8.25 cents per unit for the twelve months ending 31 December 2014, which is expected to be declared as 4.12 cents per unit for the six months ending 30 June 2014 and as 4.13 cents per unit for the six months ending 31 December 2014. It recently announced resolution of tax dispute with the Taiwan tax authorities.

Added Boardroom 1 lot in this week as part of usual portfolio re-balancing; total stock holdings in it now at 2 lots.  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.   

Cash stock holdings walk since previous posting :-

+$11,025 Total Returns as of 4 July

+$42 Nett gain on sales of Asian Pay TV

-$173 Unrealised positions worsened

+$10,893 Total Returns as of 11 July

Previous posting :- Cash - Closing Status 4 July

Remarks :- Profits locked in to-date $17,138 / year 2014 $5,645