Author: A Pen Quotes

The continuing saga of Moya Holdings Asia Limited

You know I have been watching bits of the movie “The Big Short” on YouTube. In the movie, there is this character called Mark Baum. Mark Baum, this character is loosely based on the person Steven Eisman. [embedded content] There is one statement from him which kind of resonates with me (read here): Do your own homework. I can’t overstate the importance of this. When things start to go bad, speaking to the management of the company may be the worst thing you can do. You can walk away thinking things are okay when in fact they’re not, because seeing...

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My thoughts on Sarine Technologies Ltd (SGX: U77)

The thing about Sarine Technologies is that there isn’t really a consistent trend in its revenue (well, at least in recent years). Its recent report on the expected revenue and profit for the nine months ended September 30, 2017, has triggered a sell-off in its share. If we trace back the nine months ended September 30 results from 2010 to 2017… we can see why. There appears to be an uptrend from 2010 to 2014 until it was ‘disrupted’ in 2015. 2015 was a particularly bad year with...

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Why I decided not to use 8 Securities

This post is a continuation of my post dated 23 July 2017 (see below). 8 Securities: Broker to trade US and Hong Kong Stocks (read here) So yes, 8 Securities does not have holding fees, if I am to buy and hold Hong Kong or US stocks (being a foreigner not residing in HK or US respectively buying these stocks). I have always been doubtful as to how do 8 Securities earn any commission by not having any holding fees. So I decided to do a small experiment. Well, I did not actually buy or sell stocks using 8 Securities. My...

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AerCap Holdings N.V. (AER): Intrinsic Value and Trailing PEG

AerCap Holdings NV is an aircraft leasing company. Its major activities include leasing, financing, sales and management of commercial aircraft and engines. It operates in Mainland China, Hong Kong, Macau, USA, the Netherlands, and few other countries. They also provide aircraft asset management and corporate services to securitization vehicles, joint ventures, and other third parties. Through its subsidiary, the group also provides engine leasing, certified aircraft engines, airframes, and engine parts. AerCap Holdings Is A Value Investor’s Dream Stock (read here) AerCap Holdings (AER): Owned by savvy investors (read here) Mohnish Pabrai Buys AerCap (read here) I was surfing...

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Timing (TalkMed and Chipotle Mexican Grill)

Maybe the title shall be mistiming. I have a long history of having a bad timing in buying shares. I was reading the recent article in the Sunday Times (see below). The best investors sit on plenty of cash (read here) One statement resonates deeply with me: “But holding cash can be very painful financially since it earns me virtually nothing.” It doesn’t help when you read about others with much bigger portfolio (heavily invested) in the upmarket reaping record high dividends. On track for their yearly dividend payout target. Somehow, the notion of a sharp market downturn does...

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Moya Holdings Asia Limited – 4 Things You Need to Know Now

Moya Holdings Asia Limited is a stock that has come out of nowhere and has won many investors’ hearts. Just look at the chart below. The stock was trading at SGD 0.029 on 18 Feb 2016, on 18 Aug 2017, the stock price was SGD 0.107. That is an almost 270% increase in approximately 1.5 years. By the way, in Jan 2016, Moya Holdings Asia issued a 5 for 4 rights issue (see below). Moya Asia: 5 For 4 Renounceable Non-Underwritten Rights Issue At S$0.033 Each. (read here) What could be behind this astonishing good stock performance? “As I...

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Raffles Medical, TalkMed, Singapore O&G – The 2 Things these Stocks Taught Me Now

You know, it was only recently that many of the above-mentioned healthcare stocks are darlings of the Stock Market. The allure of healthcare is easy to understand: With an aging population, rising affluence of the middle class here and abroad, and a business that appears immune to the economic cycles/downturn…. what can go wrong? 1) When the Singapore Market Rises, it doesn’t raise all boats Let’s look at the recent Stock Price performance of the 3 stocks over a one year period. Raffles Medical Group Ltd. Over a period of one year (from 11 Aug 2016 to 10 Aug...

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Raffles Medical Group Ltd – 4 Things You Need To Know Now

1) Sudden drop in Share Price The once mighty Raffles Medical share price seems to suffer from a bout of flu. For past 1 year, its share price has been steadily declining from a high of SGD 1.55 to SGD 1.16, representing a 25% drop. And in the recent month, we see a sudden drop from SGD 1.29 (31 July 2017) to SGD 1.16 (8 Aug 2017), a more than 10% drop! “Generally, the greater the stigma or revulsion, the better the bargain.” — Seth Klarman 2) Poor...

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4 Small Cap Stocks with min. ROE 20% (Straco, Colex, Nordic, CEI Ltd) – What Is Their Trailing PEG & Intrinsic Value Now.

These 4 Singapore stocks are small (market capitalization ranging from $300 million to about $2 billion), but if you spend some time going through their annual reports, you would be impressed by their earnings performance. And their Return on Equity (ROE) is at least 20%. 1) STRACO CORPORATION LIMITED (S85) Market cap: SGD 722.7M The company develops and operates tourism-related facilities in the People’s Republic of China. The company develops and operates cable car facilities, aquatic related facilities, and dolphin and sea lion performances. It also provides management and consulting services, and project management services to third parties; and...

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Bike Sharing and ISOTeam

If you haven’t heard about it…ISOTeam is joining the bike-sharing craze. ISOTeam jumps on bike-sharing bandwagon | The Edge Markets (read here) My initial reaction seems to be that the move appears to be ‘de-worsification’. What has a firm specializing in the maintenance and upgrading of public housing estates got to do with bike-sharing? My original reason as to why I invested in ISOTeam, is due to its boring and stable business (which is maintenance and upgrading of public housing estates). I hoped that the company can build upon its strength in providing a strong recurring income. However, bike-sharing...

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Alibaba Group Holding Limited

Alibaba Group Holding Limited: The company accounts for 80% of all online retail sales in China. As of 2015 the company has 350 million active users, larger than the entire population of the United States. Alibaba recorded $9.3 billion worth of orders in just one day in November 2014, during the holiday known as “Singles Day.” When I first started doing the e-commerce stint using Fulfillment by Amazon (FBA), I inevitably used the portal Alibaba (to source for goods from manufacturers). I have been planning to start a US stock portfolio for the longest time. However, with the US markets at...

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8 Securities: Broker to trade US and Hong Kong Stocks

In my previous post, I mentioned that I am looking for a broker so that I can trade US and Hong Kong Stocks with no holding fees. Why look for a broker now? Now, before I continue, just to clarify… I currently only have 1 counter which is a non-Singapore market listed stock: Fu Shou Yuan International Group Limited. It is listed on the Hong Kong stock market. This counter only occupies a tiny portion of my stock portfolio. Well, FYI, in recent times, I always felt that market valuations are either fully or richly priced. Yes, there are pockets...

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Finding a Broker to trade US and Hong Kong stocks

I came across this article by the Fifth Person: “How to open a brokerage account in Singapore (and how to choose the right broker)” (read here). In the article, it mentioned the following: “I’ll assume you plan on trading in the local stock market since you’re to looking to open a brokerage account in Singapore. But besides the SGX, you may also be interested in stocks listed in foreign markets like Malaysia, Indonesia, Thailand, Hong Kong, the U.S., etc. If that is the case, you probably want to check if a broker offers you access to the markets you want. Do...

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Buy move after a long while

I recently bought some stock. Yes, I know that market valuations are not cheap and that there are relatively more risks involved to invest now. My long term goal is ultimately to increase my war-chest. Iconic hedge fund manager Seth Klarman says investors are missing huge risks (read here) However, I do believe that in some situations, these warrant a second look. And perhaps a buy move. One such situation is when the company management made a blunder which indirectly affect the future revenue prospect of the company as a whole. Yes, the price trend could be down in...

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Would you give up your bike for oBike?

I don’t particularly use oBike a lot. When I go out with my family I can’t really use the oBikes. My kids are too young and my wife does not know how to ride a bike. However, I do use it occasionally after work and during the weekends, especially when there are free rental promotions. I could use some exercise when the weather is not too hot or when it is not raining. I don’t own a bike myself, but I do wish some time that I had a lighter bike with multiple gears. I reckon I would need to...

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