$PropNex(OYY.SI)$ Closed my position at $0.935, average entry price of $0.833. Roughly 12% returns for holding period of slightly under 2 months. Robust sales from the past quarter might already be priced in. Will redistribute cash to other positions with better risk to reward ratio.
$PropNex(OYY.SI)$ The strong sales at Emerald of Katong, Chuan Park, Nava Grove will contribute to healthy revenue for PropNex over the next two quarter (there is a lag in commission proceeds). The resale market has also been resilient in 2024 with strong transaction volume. A number of upcoming large developments in 2025 like Elta, The Orie and Parktown Residence will likely also draw strong demand that will support PropNex's revenue and share price growth.
Think the Fed will likely postpone any rate cuts to next year. Loosening any earlier risks negating all their effort over the past 2 years to contain inflation. Economy seems to be in decent condition and unemployment rate remains low. Little reason to cut early.