CapitaMalls Asia: Dual listing in Hong Kong.

Earlier in March, CapitaMalls Asia announced that it was exploring the option of a secondary listing in Hong Kong.

Today, it received in-principle approval and will list on Hong Kong's mainboard come 18 October.

"CapitaMalls Asia may not be raising new capital from its listing in Hong Kong, but the move will allow the mall developer to widen its investor base here in Hong Kong and by default China.


"This is expected to help improve its market visibility and trading liquidity - which then opens up additional sources of funding for the company."

Read complete article here.

Although I continue to believe in the fundamentals of CapitaMalls Asia as well as its longer term prospects, its share price is something else.

Technically, the counter's share price is very much in a downtrend. Selling into strength is, therefore, a sound strategy.

A movie: Real Steel!

When I was at the movies earlier this week, I saw the trailer for "Real Steel". Wow! I am so going to watch this!

This is a story set in the near-future where the sport of boxing has gone high-tech. It stars Hugh Jackman as Charlie Kenton, a washed-up fighter who lost his chance at a title when 2000-pound, 8-foot-tall steel robots took over the ring.

Now nothing but a small-time promoter, Charlie earns just enough money piecing together low-end bots from scrap metal to get from one underground boxing venue to the next. When Charlie hits rock bottom, he reluctantly teams up with his estranged son Max (Dakota Goyo) to build and train a championship contender.

As the stakes in the brutal, no-holds-barred arena are raised, Charlie and Max, against all odds, get one last shot at a comeback.

I like this kind of inspiring stories and with robots thrown in, the little boy in me cannot resist it!

Play the Real Steel game and win movie premiums.
Check it out:
http://sg.churpchurp.com/AK71SG/share/realsteel

Sabana REIT: Acquiring 21 Joo Koon Crescent.

Sabana REIT is recently on an acquisition spree. Today, it announced the proposed acquisition of 21 Joo Koon Crescent. With this latest acquisition which will be funded fully by debt, its gearing level will bump up to 35%.

Property: 21 Joo Koon Crescent.
Consideration: S$20.274m.
Remaining lease: About 43 years.

If all its recent proposed debt funded acquisitions should be successfully carried out, it is reasonable to expect rather much higher distributable income starting 2012 which would bump up DPU, of course.

However, with pro forma gearing level at 35%, the REIT could possibly resort to some equity fund raising for future proposed acquisitions.

I am still sanguine about Sabana REIT's numbers and I will accumulate if there should be any weakness in its unit price.

Read announcement here.

ARA: Partial divestment at $1.20

I was hoping that ARA's unit price would retest resistance provided by the declining 20dMA yesterday after the rather nice white candle the day before. So, I was hoping that there would be a chance to sell closer to $1.30.

Unfortunately, yesterday's black candle was formed on the back of much higher volume as price tried unsuccessfully to move higher. The ADX is rising and the DIs are still negatively placed. Selling pressure was strong.

The white candle today had even lower volume than that of two days ago. The bulls seem to lack conviction. So, I decided to lock in some gains by divesting those units obtained at $1.13 recently at $1.20.

If price were to go higher from here to test resistance provided by the declining 20dMA which approximates $1.29, I could divest those units obtained at $1.22 last week. If price were to weaken, I could load up again if the immediate support at $1.11 should hold firm.