Club Mulgoa

Wednesday, September 19, 2012

CGX

I bought this stock in July 2010 at $2.29 per share.  It hasn't been performed according to the POG.  And recently, it had problem with its processing machinery in Masbate in The Philippines.  But I do like the management.  Tonight it is being taken over by a Canadian company.  I would make around 35% in just over 2 years.  It is not great but it is still better than money left in the bank, earning taxable interest.  While capital gain is taxable, it is only 50% of the profit after one year of ownership and because it is in my super fund, the tax is only 15%.

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