1) Taking profit on half the position of sunningdale, after a 31% rally (including dividends)
2) Getting out flat on Singmedical- although valuation remains attractive, but change in major shareholder puts clout of uncertainty - how shareholder friendly will they be? Will they insert any thing dilutive to the company?
3) Continue to hold HongKong Land and Hock Lian Seng.
4) Rotate capital from Singmedical to Jumbo- buy 100,000 shares at 0.415. One of the most iconic brands representing Singapore, with potential to expand internationally on a wide scale. Already did that with franchises, but waiting for income to start showing, with costs digestion in the initial stages. Plans for new store openings in Singapore are also highly positive, given Singapore's market is the most profitable for them per store. Have already opened 1 new Jumbo store in ion.
- Jumbo also has gd net cash position, good cashflow generation, dividend yield of about 3%.
- Floor formed as prices supported by daily share buybacks, and hopefully a recovery in earnings will propel the stock up (1Q19 profits up 15%)
