Transaction Update

For the month of August, I have divested the following:

Silverlake Axis – Banking on today’s price run, I have taken the profits as I think silverlake is just about fairly valued at 4.8% dividend yield

First Ship Lease Trust –  The MR2 tanker prices have been falling and thus time to sell off.

XMH- Sold off for better utilisation of cash.

Using the cash, I have started accumulating Ezion at 31, 27, 26 and 22 cents. Please see the “Future of Singapore’s offshore”

Ausgroup

Ausgroup’s financial results was a disappointment. The group has impaired its assets, resulting in a net loss of close to 100mil. However, one thing stood out.

http://www.agc-ausgroup.com/images/Prelim_announce_Q4_2016_-_29_August_FINAL.pdf

Reading, page 6 & 7 of its full year results, it seems DBS has been actively lending money to it on a short term basis. What stands out is that in Q2, the company …