Mehwah, Olam etc

I divested Mehwah and Olam recently making an average of more than 10% gains. May re-enter if there is a good opportunity. I had force myself to read the annual reports of both companies and to have some idea of their businesses.

Expecting dividends from the below in June

CMPH
StarHub
CitySpring
SP Ausnet

I am still deliberating whether to take up the script dividend for DBS for an offered price of $13.84.

SATS

Some numbers based the the latest financials

EPS (FY2010/2011)        - 17.4 cents
EPS (Q4 FY2010/2011)  - 4.6 cents
NAV                              - $1.37
Debt/Equity Ratio           - 0.12
Final Dividend                - 6 cents
Special Dividend             - 6 cents
Payout Ratio                   - 98.4%

NOL

I just read recently that Ng Yat Chung is slated to take over from Ron Widdows as CEO of NOL later part of the year. Mr Ng is from Temasek but I believe he has spent the most part of his working life in the SAF. In fact he was CDF and left SAF in 2007. I remember he gave a press interview soon after he joined Temsasek as MD for Portfolio Management during the Global Financial Crisis. Then, he defended the the investment by Temasek into Merrill Lynch by saying that the "jury is still out" when the value of the orginal investment plunged. Temasek subsequently divested all the holding in BOA (when Merrill Lynch was acquired by BOA) in the early part of 2009 at a substantial loss.

Without a deep understanding of the container business and the necessary commercial background, I find it a very awkward appointment. The shipping container business is highly cyclical and he may be just lucky to catch a "good" wind. Other than that, I do not forsee how he can bring NOL to the next stage.

Luckily, I have divested all my NOL shares months ago.

May 2011

The last two to three weeks have been hectic and exciting. Attended a few rallies to get a feel of the atmosphere. Now, it is back to business. Expect the following dividends in May 2011. I did not invest or divest after the recovery from massive earthquake in Japan

StarHub
KeppelCorp
SBSTransit
SPH
FirstReit
SuntecReit
AscendasIndia
StarHill Global
LMIR
SriTrang
Wilmar