Time flies. It has been a whole month since I last posted here. Work has kept me very busy for the past few weeks and I could not squeeze out the time to write.
Portfolio Developments
Powermatic Data (SGX:BCY)
Powermatic Data finally announced their special dividend! PMD has agreed to return $$9,996,602.62, or $0.286 to its shareholders. It is about 11% dividend yield based on current share price of $2.60.
The sum is definitely lower than expected but it is because they were unable to sell their Harrison Road property, which is valued at about $33.7mil versus their purchase price of $19.5mil. In the Q&A of their AGM, PMD has stated that they were trying to monetize their property since Oct 2019.
Business-wise, they are on the cusp of the 5G revolution. Apple went ahead to release their newest Iphone with 5G capabilities. This should imply that the rest of 5G infrastructure should be coming along soon and PMD...