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Saturday, 5 July 2014

SRS - Closing status 4 July

Divested away GRP Ltd 50 lots in this week as part of usual and active stock holdings re-balancing for $41 nett gain.  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.

Divested away Asian Pay TV(APTT) 8 lots in this week for $77 nett gain which is part of usual and active stock holdings re-balancing.  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.
 SRS stock holdings walk since previous posting :-

+$10,735 Total Returns as of 27 June 

+$118 Nett gain on sales of Asian Pay TV, GRP

+$654 Unrealised positions improved

+$11,506 Total Returns as of 4 July

previous posting :- SRS - Closing status 27 June

Remarks :- Profits locked in to-date $16,791 / year 2014 $4,189

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