27 April 2014

Bedok Reservoir Sheng Siong Business So Good

Just now I went to there so many people, I think because of the lucky draw, anyway their profit for first quarter of 2014 went up 11.5% compared to the same quarter last year, not bad, that 11.5% is about $4.6M. And with their latest results, their share price also climbed up to $0.62 from $0.595, also not bad, I think next few weeks will go higher, too bad I didn't buy more, sigh, have to set aside money for my renovation and furnishing, I was worried if I buy I might get stuck for a while, but well, nobody can predict the future ;)

But from what it looks now after their recent general meeting, the price will move up next week, it's being hyped by the share buyback potential, it's 11.5% profit growth and also the lucky draw is back, furthermore they have plenty of spare cash, they can afford to buyback shares, I think it's very possible they will buyback from the market because from now until 2017 (Junction 9), they don't seem to have any other expansion plan, but they have $110M+ sitting around doing nothing, quite likely they will buyback but I don't think they will buy up to 10% of total issued shares, probably 5% to be safe, still need to have spare cash sitting around for possible expansion if suitable space is available.

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