Sigh... 1 more gem being taken over. There was a takeover offer of 2.38 from Dubai Drydocks World. I think I have not much to comment but it is too low which I expect to reach 3.00. Ex-cash, it is about 10-11x PE. Looks like the Ng family will like to enjoy their fruits of labour early. What I am puzzled is why are they selling so low unless they have a better investments around ?
My entry price is from 50 cents + and even accumulated in Feb around 1.7. It gave me very good returns as well as big dividends. I will miss this one. I sold everything at 2.41, which I was quite surprised someone took. Either something is still brewing or someone did not do his sums right. Well.....
I am looking at some of the other oil counters and another 1-2 counters right now to replace this.
Superbowl - it shoot up about 50% from my buying price, while this may continue, I think it is good enough for me.
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