Duty Free International

divads
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11 years 3 months ago - 11 years 3 months ago #12931 by divads

Replied by divads on topic Re:Duty Free International

Dividend will only be declared in Feb. Look at last year announcement of dividend and you will understand. (SGX, last 4-12 mths annoucement)

Ya, they very aggresive and very eager to buyback and cancel the shares IMMEDIATELY.. maybe aiming for transfer of shares to mainboard, so must increase market capitalisation? or maybe prevent hostile buying of their shares? or maybe they think their share price should be worth more... Currently their highest price bought back was 43 cents. So it means support is at least 43 cents.

Good for shareholders. All those who wants to sell would have sold, so the price will be well supported. Of course, in between there will be sellers and contra players but if they keep up the buyback, then long term is a up trend.

They will be having $325 million ringgit from the sale of JB Zon soon, so they can keep buying back the shares. Right now is just 7k lots bought back out of 100000k authorised.

Last edit: 11 years 3 months ago by divads.

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Joes
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11 years 3 months ago #12935 by Joes

Replied by Joes on topic Re:Duty Free International

divads27, thanks for your post. Regarding the cancellation of shares, this move doesn't boost their market cap since it's fewer shares X market price. So why buy & cancel? U have a few other resons -- possible. I think it's something unusual. Could it be a privatisation plan? Today's price has come down on broad market weakness. Itching to pick up some more shares!

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divads
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11 years 3 months ago #12937 by divads

Replied by divads on topic Re:Re:Duty Free International

I just sold off my duty free becos i notice that last week the volume was quite huge and most are not bought back by Duty Free. Meaning this week will encounter selling pressure from contra player and force selling.

So sold off and wait and see...

If Duty Free decides to stop buying, then price will crash... so maybe take profit and wait and see

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Joes
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11 years 3 months ago #12938 by Joes

Replied by Joes on topic Re:Duty Free International

divads27, wish you good luck! I have not sold and I smell a good finish sometime in the future. Just look at the buyback today. Total of 2.4 m shares bought back out of a trading volume of 2.9 million. This is serious commitment. I don't think it's just to support the price..... There's gotta be more reason. Just a hunch. Wish me luck as I brave the fog.

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divads
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11 years 3 months ago - 11 years 3 months ago #12941 by divads

Replied by divads on topic Re:Re:Duty Free International

hi Joes, the share buyback is good, but they cant buyback forever as it is getting more and more expensive to buy back.

Anyway, I sell based on the fact that they already bought back for quite a few days and it cant go on forever.

You can access their buyback pattern when they were listed in bursamalaysia as DFZ Capital.
Â
www.bursamalaysia.com/market/listed-companies/
company-announcements/#/
?category=all&sub_category=all&alphabetical=
All&company=5177&page=9
Notice they start buying from 17 March 2009 then ended somewhere beginning of April 2009. Then they buyback again in May 2009.

So the buyback will take a break soon I predict

and may induce contra player and force selling.

Last edit: 11 years 3 months ago by divads.

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Joes
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11 years 3 months ago #13017 by Joes

Replied by Joes on topic Re:Duty Free International

Weak tradingÂ today shows that w/o Duty Free's share buyback, there is no liquidity. Company has a lot of cash to buy back - we can't guess its schedule . Who knows this afternoon, it might be back in fierce action?
I see divads27 has got his timing right . it's right timing only because the stock has not run higher than his selling price. What do u know of the future with any certainty? And do u really think share buyback won't resume sometime soon?Â Quite interesting to see the flux of emotions inÂ Duty Free article & comments

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