Bought UOADEV-CB

1. Bought in UOADEV-CB at 0.115sen and sold it at 0.125sen. Among all the CWs for UOADEV, CB is the cheapest of all. First rule of thumb when buying CWs, the premium must be reasonably low, couple with the momentum from the mother share, then CWs will normally follow suit but i have given up hope on exercising CWs as i noticed MM is on control on this, they can simply manipulate the mother share price to make less payment to CWs holders. This kind of move is unfair to CWs holders. Many cases have happened, the most obvious one was on KNM last year. Most issued CWs are calculated base on closing price not the average volume weighted closing price. That is the sad part.

2. As Teng mentioned that EPS for UOADEV on 4Q is only contributed 3sen but the company taken a step to give out 10sen dividend is a good move though it is pending AGM but normally this kind of proposal will get approve, this in turn strenghten the share price movement. On the case of revaluation of property will thus bring up the NAV, also another plus point here.

3. On Friday, i reenter UOADEV-CB at 0.115sen after selling all at 0.125sen as mentioned above. I do hope UOADEV can sustain share price at current level. Judging the price movement it seem selling force is still there and this kind of situation will last till next week Tuesday. I just hope it will start moving after that. :)

4. Good Luck All.