Author: A Path to Forever Financial Freedom (3Fs)

Comfortdelgro Hits 3-Year Low

Comfortdelgro hits not only a new 52 weeks low last Friday but also a 3 year low. The last time they hit around this share price was around in Jun 2014. That was right before the contracting model announcement takes place for the public transport. I just did a quick comparison to see how they fare in terms of earnings between the two. It seems on a glance earnings was pretty much on par. While operating profit came in slightly lower in 2017, finance costs came in much better due to the lower borrowings they have (stronger balance sheet),...

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The Struggle With Hardwork

My wife and I recently watched a Japanese documentary at home and we began pondering on why the Japanese, and typically the older generation tend to have a different attitude than the newer generation like ours. Friedrich Nietzsche, one of the famous German philosopher, once said that the most essential thing in human history is that there should be a long obedience in the same direction, thereby results can be attributed to the cause which made life worth living. The Japanese family that we saw in the documentary aspire bringing improvement in the lives of the consumer. They work hard and for...

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Is SPH Worth Taking A Look Now?

Every once and then, there would be companies in focus that would be the major target for the short seller. These are mostly sick companies because their outlook are bleak. If you recall in the early of 2016, we had similar cases with oil and gas companies. Keppel and Sembcorp took the most hit and they were depressed to levels that everyone just want to shun on it. SPH has been a grandfather stock for a very long time. Long time shareholders would know that they used to get to as high as $18 to $20 before doing a...

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Two Faces Perception of Masks

Variant Perception is a concept defined by Michael Steinhardt as a view that is materially different from the consensus and that you have a belief that it has an average probability of being correct. For many, the fear of standing out negatively overrides their desire to stand out positively. By following the herd mentality, you are cushioned by the many views that are supporting the reasons for the fact that makes you comfortable. The problem is usually the case where valuation gets higher and as investors you are paying that comfortability for a premium with lesser margin of safety....

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"Sep 17" – SG Transactions & Portfolio Update"

No.  Counters No. of Shares Market Price (SGD) Total Value (SGD) based on market price Allocation % 1. Comfortdelgro 61,000 2.18 132,980.00 21.0% 2. M1 61,000 1.78 108,580.00 17.0% 3. Fraser Logistic Trust 80,000 1.07 85,600.00 14.0% 4. Fraser Comm Trust 40,377 1.39 56,124.00 9.0% 5. First Reit 30,034 1.33 39,945.00 6.0% 6. CDL Hospitality Trust 24,000 1.59 38,160.00 6.0% 7. Vicom 6,600 5.70 37,620.00 6.0% 8. OCBC 34 11.08      377.00 1.0% 9. Warchest* 121,000.00 20.0% Total SGD 620,386.00 100.00% I am doing again an early update because it’s the school holidays and we will be traveling again...

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Guest Post – Cost of Flour vs Cost of Bread – Part 2

I enjoyed this post a lot from our guest contributor, CK who has kindly analyzed and shared his finding with us on a few development that are ongoing at the moment. I am a big fan of property myself and am following closely the development of a few residentials and how they are being priced with demand sentiment. Who knows, if time is right, we might just go in with a second property. Knowing the flour (land price) the developers paid, it certainly helped in making decision. Singapore real estate market is very transparent in terms of the data...

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Recent Action – Vicom

I initiated back a new position in Vicom a few days ago at $5.67 for 6,600 shares. I used to own this position in the past and divested this early last year when there are better opportunities. You can search the blog on the past Vicom articles I wrote. This is not a huge position and am struggling to get more shares as liquidity is scarce. After my divestment with Guocoland, my cash position increased quite considerably and I wanted to allocate some of those into dividend counters. Vicom caught my attention after their latest quarterly results announcement especially...

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32nd Birthday Post – A Year of Milestones

This is the 5th edition of the post since I’ve started to blog on this site. For some reason, I missed to write on my birthday last year and couldn’t remember what I was doing back then but here’s all the past couple of sessions. 30th Birthday Edition 29th Birthday Edition 28th Birthday Edition 27th Birthday Edition Alright, I am getting older and I can feel it the moment I turned 32 (ok just kidding). I’m feeling it more and more each year that the days and years fly past faster than I thought. I think there’s a correlation...

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Review of Value / Growth Investing Workshop

I was invited to attend this 1st value and growth investing workshop between the collaboration of Terence and John which happened this morning. The workshop lasted for slightly more than 3 hours and I went with an open mind because I knew both speakers are great investors and they had their methods which they are willing to share. I met with my good buddies, Richard from Investopenly and Chris from Tree of Prosperity and we went down together. Unfortunately, I need to go before they reveal their scorecard to the public which is the main highlight of the event. Terence (tubinvesting.blogspot.sg/) Terence is...

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Guest Post – Cost of Flour More Than Cost of Bread

We have our regular contributor CK here who writes and provides good insight into the industry he has expertise on. I am learning a lot just by exchanging emails and chatting with him so it’s another pleasure of mine for him to provide his thoughts on the recent development ongoing with our property rush. One of the most significant development in the local real estate market in recent memory is the fully sold out of EC at Hougang, Hundred Palms in seven hours in 22 July 2017. See first blog post here on the quick sales cycle and high return...

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The Real Incentive Behind Achieving Financial Independence

I’ve written two themes about financial independence this year and they are both about passive income. You can refer to the link here and here. The allure of being able to have no worries about money is the main attraction of financial independence and you can quickly see so many people taking advantage of this when they tried to sell courses or investment opportunities like unit trust and other investment units. When I get invited to speak at InvestFair this year, they are still related to money. I don’t see Love and Children Fair inviting me to speak about how financial independence...

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Why Is My Stock’s Share Price Declining Despite Announcing Favorable Earnings Results?

Share price of a company moves up and down everyday for many different reasons. During earnings announcement, they are especially more volatile because investors are pricing in adjustment to the share price based on what was announced in the earnings. Earnings are a significant underlying determinant factor that can move the share price of a company very quickly, either for the good or for the worse. In general, whenever a company announces earnings which was not favorable, and I defined not favorable at this point by lower year on year comparison, the share price would usually dived southwards. On...

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Dividend Income Updates – Q3 FY2017

With most of my companies already reporting earnings for this round of quarterly earnings, it is once again time to update my favorite part of the dividend income. If you recall in the past two quarterly updates (here and here), I am on a good decent track to hit a record high dividend received for the year, so it’ll remain to be seen with one more quarter how things can go from here. These days, with market doing rather well this year, it becomes a lot harder to stay invested in dividend companies when valuation gets higher and it becomes a...

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Comfortdelgro – Q2 FY17 Results & Thoughts

I was quite anticipating the results from Comfortdelgro and even more so after reading the results in the previous week by Vicom and SBS where both increased their payout to issue higher dividends to shareholders. I mentioned previously that I thought there was a good decent chance that Comfortdelgro might maintain their dividend as last year despite the poorer taxi division due to the better cashflow that they have. This remains something which I am taking a close look still.   In terms of earnings for the Q2, revenue was down 3% while nopat was down 9% year on...

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"Aug 17" – SG Transactions & Portfolio Update"

No.  Counters No. of Shares Market Price (SGD) Total Value (SGD) based on market price Allocation % 1. Comfortdelgro 55,000 2.32 127,600.00 20.0% 2. Guocoland 55,000 1.95 107,250.00 17.0% 3. M1 55,000 1.775 97,900.00 16.0% 4. Fraser Logistic Trust 80,000 1.085 86,800.00 15.0% 5. Fraser Comm Trust 40,377 1.385 55,922.00 9.0% 6. Katrina 210,000 0.205 43,050.00 8.0% 7. CDL Hospitality Trust 24,000 1.57 37,680.00 6.0% 8. First Reit 8,134 1.35 10,980.00 2.0% 9. OCBC 34 11.21      381.00 1.0% 10. Warchest* 45,000.00 7.0% Total SGD 612,564.00 100.00%   I’m updating the Aug transactions a bit early as I don’t foresee much...

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