Stock Movement - 3 FEB 2010: Starhill Global Price Movement XD

Interestingly, stock price of Starhill Global did not drop too much after XD. It closes at 0.550 today, and was trading in a narrow range of 0.545 - 0.550. The price is more or less back to levels during the CD period. There was a huge volume single transaction buy up of 1000 lots at the price of 0.550 in the afternoon trading.

Stock price of Starhill Global has been quite volatile since the announcement of acquisitions of the Australian and Malaysian properties in Nov 2009. The acquisition of David Jones Building was completed in 20 Jan 2010, and should contribute to the distribution in Q1 2010. There has yet to be any further updates on the acquisition of the Malaysian properties Starhill Gallery and Lot 10. The Reit manages to increase the DPU from 0.95 to 0.97 QoQ. Hopefully with the confirmation of the acquisition plan for the Malaysian properties, the Reit will be able trend upwards. The Reit was recently upgraded to Buy by DBS Vickers with a target price of 0.66.