In July last year, I put in a buy order for shares of CapitaMalls Asia because I felt its numbers showed it to be doing well but buying when its price was still firmly in a downtrend proved to be a mistake.
More than half a year later, fundamentally, things are still looking strong while technically, the downtrend has been broken, presenting a more promising picture.
I would be rather surprised if the low of $1.12 would be tested again. Why? Breaking out of the top of a base formation, it is more likely that we would see some support at $1.38 or so in the event of a pull back. Technically, we want to buy on retracements in an uptrend. Buying at supports could prove rewarding.
Some numbers:
Gearing level: 3.9%
NTA per share grew to $1.60
Final dividend of 1.5c per share proposed.
See slides presentation: here.
With more than 50 per cent of its China malls expected to be operational this year, the mall developer said 2012 will be "an inflection point". Source: CNA. Read article: here.
Related post:
CapitaMalls Asia: Interim dividend declared.