Author: CoryLogics

Cory Diary : Singtel Q3 FY16: Quarter ended 31 December 2015

Quick View of the Singtel ResultQ3FY16 EPS $0.0597. Stable Earning Results. If we annualized it over S$3.73 share price is 6.4% Earning Yield and a Potential 4.7% Dividend. Borrowing increased another Billion …(likely due to “certain bank loans of Trustwave, secured on the assets of Trustwave and shares in certain of its subsidiaries.”). Net debt gearing 26.6%. So not going to do deep dive. FCF decreased 13%( Higher working capital for customer acquisition & retention in Australia ) “A Battle Hardened Titanic” again showing quite decent results from it’s Region Wide Strategy. At a time of volatility in the world...

Read More

Cory Diary : Fear is on Our Side

In the past, in order to be rich I need to be a Business man. Maybe professional fields like a doctor or a reputable lawyer, to retire comfortably. Bottom line is … not easy for majority of people. In today Singapore, a working employee can have a million dollar investable asset just on Salary alone if they save diligently, and work in a good institution or company. Is still not a walk in the park though but chances are they are much more such people today. This pose a big problem because commoners who are able to save that...

Read More

Cory Diary : War chest

Even though Chinese Stock Market has been my primary concern in my earlier blog  ( link ) near end of last year. Never would I expect the Chinese Stocks to come down so fast and furious. Artificial brutal control do not work well in a capitalist market structure where there aren’t good fundamental to support it. Is a good thing that they removed the newly introduced circuit control as this can allow the market to quickly stabilize to the right sustainable level. Question will be what is the Right Level ? If we look at the Shang Hai Index...

Read More

Cory Diary: Reading Frasers Centrepoint Trust Annual Report 2015

Just received the latest annual report this week. Taking some notes.Titled “SUSTAINING LONG-TERM GROWTH”. This tells me something or am I reading too much into it ? Financial Highlights Share price is below book value.  6.3% Yield. Less impacted by the poor retail environment. AEI Northpoint – 2nd largest mall in the portfolio will undergo AEI in phases over 18 months. There’s hint on possible acquisition of new assets in their sponsor’s portfolio. Nevertheless I look forward to the NPI number due to the AEI impact ! Occupancy and Expenses 84.2% occupancy in Bedok Point. Maybe they should sell...

Read More

Cory Diary: 2015 Investment Performance

Every year I assess my performance and this year is no different. My wish is, this can be my sustainable alternate income that I can do alone as my own boss and hopefully supports my retirement meaningfully. I do not believe handing over my fund for investment purpose to friend, institution, insurance or unit trust. You have to learn to do it yourself be it passive or full time and no one will be more passionate than your own to make sure they are manage safely within your own parameters. I enjoy the experience and learning process.There are 2...

Read More

Cory Diary : Impact of Increasing Rates on Home Loan

As all property owners, with increasing rates and weakening economy, there is some worry we may have difficulty paying our loans. We need to have a feel to assess how much an impact it can be in the future. So here’s what I did using an on-line loan calculator for my calculation. For a respectable condo size and location, S$1.125 M dollar price tag rounded up to $900 K loan amount at 80% loan to value. Applying DBS FHR18 +1.8% ( 3rd Year ), FHR18 is around 0.6% currently per DBS website.  Loan Rate 2.4% This works out to...

Read More

Cory Diary : Portfolio updates 20151226

Seems nothing is safe out there. And the thing hanging over likely China Stock Over Valuation and Singapore Growths. The 3 local big banks have seen dramatic price reduction in the range of -20 to -25% despite good overall earning. That’s a crash isn’t it ? Even the Teleco is not spared ranging -20% to -30%. M1 more on the 4th Telecom impact. If we are thinking this is all about stock price or employment rate then we need to look and get a feel on the ground. Tell these to those vested in Property, Oil and Gas, Commodity,...

Read More

Cory Diary : Portfolio update 20151012

If someone has said in the beginning of the year that China will be the main reason that STI enters correction territory it will be quite hard to accept. Such is the market dynamic. Hard to anticipate even for expert.Is the correction over with recent days run up ? Well just looking at the 1 yr and 2 yr charts, seems so. However 5 yr and 10 yr charts are yet confirm. That’s my own view. Time will tell ! My portfolio ytd went down -5% at the worst period and recovered to -2.6%. STI still at -10% today....

Read More

Cory Diary : Traps to Avoid

Portfolio Management Land Mine  ( 地雷 ) As the name feared, the misfortune of stepping on one is terrible. Will likely to have a limp blown off. A dent that is not easy to recover from. In stock context probably -50% to complete loss in a counter and depending on it’s size in the portfolio it can be quite damaging to my overall returns. The fewer stocks I have in my portfolio, the higher my concentration. Too many stocks and i will exceed my bandwidth to monitor them. Growth Stocks  ( 成长股 ) High PE typically. To maintain this story the growth needs...

Read More

Cory Diary : Market Fear

I have been working on my SUM on getting a good yield for past months but couldn’t get a good discount on equity that i am comfortable with. Every time i look back to 2008 financial crisis price and i will shook my head. If i have done so and so, i would have been shaking leg like AK do. Well not exactly like him. But you know what i mean ?   Fast forward today, chance upon it, thanks to Shang Hai Stock bubbles and slow demand, the world in chaos. FEAR set in. What-if the market falls...

Read More

Cory Diary : Portfolio Interim Result

The Eruption and Burst of Shang Hai Index reflects logically that poor earning of the economy will not be able to sustain the bull in the long run. While Singapore market avoided the crash so far, the sell down has been quite significant in recent weeks on specific counters.Telcos have moved down a notch, O&G industry has been disastrous, Shippings have been lowing for a long time and Commodities have already fallen one after another. If we use STI 3370 (2nd Jan’15), YTD STI is almost 5% lower at friday close STI 3202.5. On average most investors are probably around...

Read More

Cory Diary : Expenses needed for Retirement

First of all, calculation is futile if we do not consider Inflation and Reasonable Lifestyle. This is not saying Medical is not important but major expenses are covered by Insurance and/or CPF Medisave/shields. Getting the right coverage on hospitalization cost is important in my opinion. But trying to jack up your retirement amount to anticipate payment for serious illness that cost say $300 K direct from pocket is not meant to be as typical retirement plan that is realistic to be prepared for many. For the start i will not retire till i meet my minimum requirement lifestyle. After...

Read More

Cory Diary : Measure of Success in Life

There’s an online discussion recently on the measure of success in life.Someone say able to spend like $2M annually … Another conclude from Warren Buffet still lives in his old home while Bill Gate in Huge mansion. Gate succeed …and Warren a failure One says  “live simple life better; got money spend; no money save up to get what u want…then tats your achievement fulfilled” Most people probably want to measure by marriage and children. Maybe with a car and home thrown in. When I was young, i do quite badly. Normal Streamed and still last 10 in class...

Read More

Cory Diary : Save Your Saved

Trying to control my excitement this afternoon in staff meeting. Just as soon i have gone through the weekly agenda, i pulled up the Compound Interest Formula to the projected screen. A 10 minute effort before the meeting started while i was waiting for everyone to arrive.”I like to show something to all of you today. Here’s the formula of compound interests for $1000. Year 1, 3%, $1030 … Year 5, 3%, $1159 … Year 24, 3%, $2033 Your money just grow and doubled just with 3% annual compounded after 24 years. Now think it this way, if you...

Read More

Cory Diary: Property

Visit a show room recently so thought i pen something to share from my learning just on this. Elsewhere maybe different as i am no property expert. Read this as my personal thought talking to myself and not advise. Room Size The show room units are truly well designed. Is a promise of future living. However rooms are really small if you are “HDB type”. And if you plan to wait longer so that it can grow bigger in future, we may need to accept it that is not going to happen even if price gets significantly lower. Decoration...

Read More

Like us on Facebook

Follow us on Twitter