atans1

Sabana: Inshahallah

In Property on 09/12/2010 at 5:23 am

This piece of news (Sabana) in Monday’s ST did nothing to support the stock, because although it reported insiders buying at higher prices to support the IPO (issue price; 1.05), it also reported that a substantial shareholder had dumped shares. If this shareholder came in via the placement, if I were Sabana, or FreightLinks or other keystone investors, I’d be upset with the placing broker.

It went on falling. On Wednesday it closed at0.95, having fallen to 0.94 on Tuesday.

But SIAS research was quoted by ST as saying that at ¬†last friday’s closing price of 0.975? Sabana was a buying opportunity.

Well SIAS Research is part of self-styled shareholders’ champ SIAS. But wouldn’t it have done better to point out that AIMSAMP industrial reit gives a yield of ¬†9.5% and trades at discount to last reported NAV of 18%?

Me, I think Sabana is attractive at 0.81, when over 10% yield and a 18% discount to NAV of 0.99cents. As to whether it gets there

Know for a surety each must play his game,
As from heaven’s dice-box fate’s dice chance to fall.

BTW, I have no economic interest in AIMSAMP. It is on my “Feel like buying, but no hurry” list.

Related post

http://atans1.wordpress.com/2010/12/01/calling-all-muslims/

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