Bought Nam Cheong Again

I previously did a trade on Nam Cheong and made some small gains.  Lately, I have entered into another position into Nam Cheong since I think that the stock has potentially more upside.  My entry price is at $0.25.  Nam Cheong has also announced dividends of $0.005 per share.  OCBC has a fair value estimate of $0.30 for this stock but I think I will probably sell it if it rises by 10%.  That sets my own rget price of Nam Cheong at around $0.275 to $0.28.

Vested interest.  Please do your own due diligence.

Sold Off Nam Cheong

I have been watching Nam Cheong keenly as I mentioned that it was one of the 3 stocks on my watchlist.  I wrote about Nam Cheong poised to breakout few weeks back. Have sold it off on Friday after having some small gains.  The charts still look positive (at least to me). But I am no longer vested in it since my target price has been reached.

3 Stocks on My Watchlist

With the STI trading near 15 Price-Earnings ratio, one really has to be nimble and keep a lookout for good quality stocks that are undervalued.  And that is a difficult task given that many of the stocks are already trading at their 52 week highs.  Nevertheless, here are 3 stocks that are currently on my watchlist.

1.  Saizen REIT (Listed on Singapore Stock Exchange)

Saizen REIT has been slowly rising.  It just declared a healthy half-yearly distribution of 0.66 Singapore cents which makes its yield slightly below 7%.  Of course, there is the currency risk of the Japanese Yen being further devalued with the current Government's stance to make their exports more competitive.  Nevertheless, I have vested interest in this stock. Saizen last closed at S$0.19.




2.  Global Premium Hotels (Listed on Singapore Stock Exchange)

Global Premium Hotels just had its initial public offering at S$0.26.  The stock price has been fluctuating below its IPO price for the past few weeks but has recently risen above its IPO price.  Certain analysts have a price target of S$0.30 for this stock. They expect the Fragrance hotels to continue to do well given its market share and experience in the business.  Of course, billionaire Koh Wee Meng has been buying his own shares too, showing that he is confident in the company.  I am not currently vested in this stock.

3.  Nam Cheong (Listed on Singapore Stock Exchange)

I have bought into Nam Cheong at 26 Singapore cents.  My gut feel is that Nam Cheong is poised to break out.  But I could of course be wrong given my very bad sense of market timing.  Have taken a small position in this stock and well sell it once the price is right.  Nam Cheong's business is doing well.  They sold 21 ships in the year 2012 and have just issued equity to continue to expand their business.