Apologize for the lack of postings for the last 2 months. I had been pretty tied up with work, so let me do a quick update for May and June.
The local market has also turned quite badly in Q2, and is fact quite disastrous on my portfolio.
Hyflux 6% Perps
Hyflux announced that it will not paying interest on the Perps during this period.
I have written a post
in Feb 2018 on how disgusted i was with Ms Olivia Lum but didn’t cut loss on that position then. I hope the authorities will look into whether she has contravened any articles in the Securities and Futures Act . . .
In any case, i have written down the value of my perps to 10% of its face value. ????
Lesson Learnt : Don’t be lured by high interest rate and “high profile” business lady. Watch the cash flow and credit quality of the investment closely …