0.6 sen a share dividend to be officially announced later this month. Most actively traded in almost half a year. Is it a signal that L&G better days are coming?
avoid L&G projects. VEry high % of construction defects experienced by owners, tile pop up after 2 months of receiving keys. Tiles poping out 2 years after taking keys. Messy management, swimming pool turn fungus pool. Even monthly water bills not ready every month,need to wait 2 weeks due to no workers to read. Can you believe got this type of management?
It was trading at below 10 sen several months ago, the lowest in more than 10 years. Still a long way from its rights issue subscription price 6 to 8 years ago. Many investors are still suffering from huge losses.
Got an interesting backstory on this fella. While attending YTL meetings in late '14, an indian remisier suddenly talked to me. Was wondering:"Why is this stranger suddenly talking to me?" Almost immediately,he went on&on&on about how CHEAP & undervalued L&G as well as Iris was, stopping just short of practically goading me to buy them. I look young & naive perhaps but I sort of used body language to pretend to listen while watching the Q intently ahead of me. Smiled to myself thinking: 'This conman doesn't even know I have 20 years of market participation under my belt & that I NEVER listen to tips!' From reading Reminiscences of a Stock Operator, I knew that he probably had a big client(s) who was trying to unload at favourable prices & desperately stooped to asking his remisier to influence strangers to Q to buy so he could dump at better prices LOL!
As expected, both plunged severely since then from 50c & 36c respectively & have never recovered till now...
I ended up only buying small @ 36c after almost a year, in Aug '15, sold contra & received the dividend & re-entered & relentlessly averaged down from 2017 till this year, already collecting over $1,000 in dividends. Today, I add another 7,700 shrs @ 12.5c to reach 55,500 shrs & lower my average cost yet again, with half of my stake purchased between 11c-12c in the last 3 years.
During a bull market, every damn counter would move up, including loss making counters. Lower liners would go up much more proportionately. L&G has been profitable all along and should go up to where it was years ago.
Bought more @ 13.5c, for a 4.4% yield! I predict some HongKies running from their crashing ppty & sharemarket will re-invest some of the sales proceeds here, where it's a LITTLE tiny bit more stable...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Js Teo
166 posts
Posted by Js Teo > 2023-06-09 13:35 | Report Abuse
股价都不会上升的吗??