UOB Kay-Hian bought at $1.65, sold at $1.67, total gain $1.42.
I sold it immediately this morning after the FY2011 result is announced despite a dividend of $0.06 being declared. The reason why I do so is that the calculation in buying the stock at the start was faulty.
Reasons why I bought the stock
- High Profit Margin
- High ROE
- Dividend Payout Ratio of 60%
- Conservative Management (one of the rare brokerage that likes to ban trading in hot stock)
- Largest brokerage in Singapore with operations in Hong Kong and Thailand
- It's a matter of time that the retails investor will return
- Brokerage demand has high potential for growth given that only 12% of population are trading or investing. This compared to 30% in Hong Kong and 50% in USA
And the reason why I sold it off is definitely not because of unsatisfactory result. I ...
