Shares & Derivatives
Update on First Ship Lease Trust (FSL)
By Investmoolah  •  January 20, 2018
A few major developments has happened at FSL Trus . Hence, it is time that a review of FSL's performance and financial strength be done to determine if the trust is still a viable investment. Recent Developments The recent sale of 3 ships (FSL Tokyo, FSL Santos & FSL Santos) was a major development. FSL is estimated to receive a cash proceed of 26 mil which will be used to lower their debts to 132 mil. Based on the past three quarters of financial results, the 3 ships have produced for the trust about US$2.2 mil in BBCE. Annualising it, it means FSL was selling an asset that was yielding about 10% in cash yield. The three ships contribute about 6.7% of FSL's revenue. Given how hard FSL is trying to refinance its current debt facility, I feel it is a compromise FSL has to take. After all, the ......
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By Investmoolah
A total otaku who loves anime, investing and the occasional K-drama. My financial journey begun at the age of 22 and has revolved around the concepts of "Working Hard", "Saving Well" and "Investing Wisely". Through my journey, I have realized that financial literacy is something we have learnt little during our school days but is one of the most useful and relevant skill that we have to be equipped to take on the real world. Concepts such as compounding and "common sense investing" are skills that will place us ahead of the race to retirement ...
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