Wolf Money(Far East Orchard Ltd)sold
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I sold my trial position in Far East Orchard (FEOR) due to a rather downbeat q3 business update. They are likely to experience a fall in profit due to non existent of an extraordinary gains made last year. The amortisation of HFS acquisition, higher taxes, a fall in occupancy rates in some of their PBSA and refurbishment of hotels in Australia weigh on the results. They expect the situation to continue till the end of the year. I will relooked at the company after their final year results. There is a 2% draw down due to the general market correction. God bless. 🙏
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