Aspial Corporation (Aspial), the company started out as a retail jeweler in 1970, but now has established into three core businesses namely property development, jewellery and financial services.
Below are some hightlights of the three core businesses:
Property development – Aspial’s recent development is The Hillford, a resort-style residential concept and Singapore’s very first retirement resort, located in the heart of Bukit Timah. The property is developed by World Class Land, a subsidiary of Aspial.
Jewellery – Aspial operates 72 jewelllery stores in Singapore, carrying brands such as Aspial, Lee Hwa Jewellery, Goldheart Jewellery and CITIGEMS.
Financial services – Aspial has an 82.83 percent equity interest in Maxi-Cash Financial Services Corporation. The company provides pawn-brokering services as well as retail and trading of pre-owned jewellery. It has 33 stores located in Singapore.
Technical Chart
Since October 2012, Aspial has been trading in a sideway trend ranging from $0.39 to $0.48. Will the price break out of the sideway trend and start trending up like what we have seen in Oxley Holdings?
- Chart of Aspial Corporation
Currently, it is still too early to tell as the company’s share price has not move much. However, I see an opportunity of an uptrend happening as the share price has moved above the 50-day moving average (MA). Based on historical events, Aspial can go uptrend for one to three months when the price breaks above the 50-day MA. Moreover, the price is above 200-day MA. This tells us that there is a strong support at $0.41. If this support does not hold, the last line of defence will be $0.39.
Corporate Action
There are a few more things to highlight. Aspial is a company that give regular dividends. For past 12 months, the company paid out $0.033 in dividend (a trailing 12-month yield of 7.6 percent). However, they also issued rights in February 2013. Lastly, the insider trade announcement reflected that in November 2013, chief executive officer Koh Wee Seng increased his stake in company to 75.71 percent.