Last year in August, Sheng Siong’s IPO created a bit of a buzz. The company promised a pay out ratio of 90% in FY 2011 and FY 2012 to woo investors and offered shares to the public at 33c a piece. It was 1.3x oversubscribed. For FY2011, net profit fell 36.1% while revenue fell 8%. [...]

I came across an interesting piece of research by OCBC on industrial REITs in Singapore and would like to share the salient points here (some of which I have mentioned before in my blog): Industrial REITs reported healthy 4Q11 results. Industrial REITs appeared to outperform market expectations. Expecting stable performance. Operating metrics still healthy. Earnings [...]

In recent weeks, I noticed that in some publications including The Business Times which compare high yielding stocks in Singapore, LMIR’s distribution yield was overstated probably based on historical quarterly DPU. Historically, LMIR’s quarterly DPU hovers at around 1c. Recently acquired Pluit Village. Personally, I estimated the DPU after acquisitions and rights issue to be closer to [...]

In July last year, I put in a buy order for shares of CapitaMalls Asia because I felt its numbers showed it to be doing well but buying when its price was still firmly in a downtrend proved to be a mistake. More than half a year later, fundamentally, things are still looking strong while [...]