About 2 weeks ago, I added StarHub to my portfolio at $4/share. Today, StarHub plunged to a low of $3.7 before recovering back to close at $3.89. The sell-down was sudden and severe, and possible reasons could be due to various concerns including news on Greece default over the weekend, interest-rate (again) and possibility of increase competition from a 4th Telco, etc.
I decided to increase my stake on StarHub, and to fund the purchase by divesting Wee Hur. The rational for the divestment is similar to my earlier purchase of M1 by divesting NeraTel. I wanted to minimise my cash injection against the backdrop the current market depression, and my opinion to increase my Telco exposure for their cash-generating ability to align to my income-investment objective. The 2nd tranche has reduced my average entry price to $3.86.