Dear readers, I was looking through the technical charts of Singapore stocks when I noticed a stellar performance from a business trust listed on SGX.
The business trust rallied by 12% yesterday (20 Dec 24) and with large volume.
This trust is none other than Hutchinson Port Holdings Trust.
I looked through the SGX website to find out whether there is any corporate announcement from the company which could explain the rally of the stock price but there was none.
I would not be surprised any time that this trust could be privatized at any time, given that the price has fallen around 90% from IPO price. As a note, the stock remains undervalued at Price to Book ratio of 0.41 and still pays a dividend yield of 10.1% per annum.
I bought some shares of the trust at IPO price and as a shareholder, I attended the AGM of the company this April and below are my sharing:
HUTCHISON PORT HOLDINGS TRUST (HPH) AGM 2024: WHAT HAPPENED (PART 1)?
HUTCHISON PORT HOLDINGS TRUST (HPH) AGM 2024: WHAT HAPPENED (PART 2)?
HUTCHISON PORT HOLDINGS TRUST (HPH) AGM 2024: WHAT HAPPENED (PART 3- FINAL)?