Sold some Jiutian and Asia Enterprise.
Bought EZRA
Why buy EZRA?
The current uncertainties surrounding its EOC listing at Oslo bourse might be the reason for its lackluster share price performance for the past few months. How the Company would distribute the proceeds from its successful listing of EOC is anybody's guess. It could be in the form of special cash dividend, distribution in specie, ie shareholders given shares of EOC or the combination of both. The outcome of this will probably be annouced in conjunction with the release of full year result in October.
Meanwhile the 1 for 1 bonus issue might be big enough carrot for investors to hang on. I respect the management in that it has been rewarding shareholders well all these years. If not mistaken, the Company has given out 2 rounds of 1 for 5 bonus issues prior to the current one. If you had invested in the Company since IPO at below $0.50 per share, your investment would have grown to $9,000 or 18 times!
Investing in EZRA also offers investors indirect interest in Ezion (f.n.a. Nylect) which I believe the Company bought at dirt cheap price. The Nylect story has been a myth and miracle put together by Mr Chew where millions of dollars were created out of nothing. It has been by far one of the best performing stocks after Raffles Education in the recent Singapore Exchange history.
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