It has been almost 2 months since my last portfolio transaction updates. So here goes:
- World Precision Machinery
The "No dividend" announcement was bit of a shocker to me. My main thesis to invest in World Precision was due to its consistent declaration of dividends. Therefore, i took a chance to divest it when someone was offering to buy it at 0.235 after the full year results. This allowed me to clock in a 7% return.
- First Ship Lease Trust
This was another company hit by negative news via comments made by its auditors. However, when I re-invested into FSL trust; I was already aware of the fact that its bank loan will be classified to "Current Liabilities" because it is due in Dec 17, resulting in current liabilities exceeding current assets. So when Moore Stephens LLP, its auditor, highlighted of its going concerns due to the ......
