Results Release for UMS, Propnex, IFast, Hanwell, Centurion
Results Short Commentary
UMS - Shocking 4th Quarter creates a drop in share price on the last trading day of the month. However I remain positive on the long term trend, as such it would still remain in the portfolio.
Propnex - On paper looks like the better company compared to APAC Reality, a comparison article i would consider penning my thoughts when i have the time. In short, results are excellent and with travel not resuming any time soon as it seems, housing would be a good investment tool with low interest rates to stay for a little longer.
IFast - Good Results but it seems like its very volatile as investors seem to regard it as a tech stock. Will have to see how well it grows its AUM and more details on the E-MPF and how much stake they have in it.
Hanwell- Originally was going to exit and take profits in this stock after a remarkable increase the past few months. However, was totally caught off guard with the potential spin-off of Tat Seng Packaging. As such, holding this stock and see how things turn out will be the choice. On the results front, 2H out performed 1H as it was widely expected. Hence there was no surprises on that. However the dividend was a bit disappointing as it could have been higher.
Centurion - Operationally did ok and fair value losses due to sluggish demand of its student hostiles (due to lock down and lack of flying to study abroad) were expected as well. The demand should remain stable for workers dormitories. The lack of dividend is understandable given it has been in the headlines for a big part of the year.
Overall i am fairly satisfied with the portfolio performance and the results of the various counters in the portfolio so far.