Thursday, February 09, 2006

Hotung - No longer as hot.

What a coincidence in timing! When this blog highlighted the run up in Hotung yesterday, Third Avenue Management disclosed to the Singapore Exchange on the same evening that it was winding down its position in its counter. Third Avenue now holds 7.51%, down from 8.02%. Was yesterday's sell down by Third Avenue a prelude to further reductions?

Our original posting in Nov 05 asked whether "Will HIH prove to be another gem in the bag for Amit?" The current gross return appears to suggest so!



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