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Drizzt

Sembcorp Industries– One to look out for in this drawdown

May 13, 2012 by Drizzt
If there are some blue chip stocks that I would snap up in a further draw down, Sembcorp Industries (SCI) would be one of them. For a bit of its total return history you can view it here. Sembcorp is undergoing some sort of mini transformation. It owns 60% of SGX listed Sembcorp Marine (SMM), [...]

in Categories: Shares and Derivatives

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Straco delivers 65% rise in Q1 2012 profits

May 11, 2012 by Drizzt
Here is one Singapore stock often mistaken as a S-Chip listed on the SGX. STRACO is a developer and operator of tourism-related attractions. It operates 2 main attractions, Shanghai Ocean Aquarium (SOA) and Underwater World Xiamen (UWX). This sounds like a shitty investment 4.1% yield 9.43 times PE or 10.6% earnings yield 59% of asset [...]

in Categories: Shares and Derivatives

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AmFraser have some seriously optimistic cash flow projections for MIIF

May 11, 2012 by Drizzt
Macquarie International Infrastructure Fund is a 9% yielding infrastructure stock listed on the SGX. I am invested in this and talked about my sweet and sour relationship with this stock a fair bit (read here) MIIF just announced their latest quarter results. There are some good news in that the tax issues of Taiwan Broadband [...]

in Categories: Shares and Derivatives

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Vicom with a good set of Q1 2012 results

May 10, 2012 by Drizzt
One dividend stock that I missed out on was really vehicle inspection and general testing company VICOM A strong business model that is based on something always needed Zero debt 43% of balance sheet is in cash, 16% of its market cap is in cash Yield has went down to 3.4% One of the few [...]

in Categories: Shares and Derivatives

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Are you suffering from willful blindness when it comes to investing?

May 9, 2012 by Drizzt
Rupert Murdoch testified in the phone spying case that he was not aware that such activities were taking place under his watch. The court ruled that he is willfully blind and cannot be made not responsible for the actions. The interesting thing was the analysis done on whether CEOs like Rupert and Enron’s convicted CEO [...]

in Categories: Investing

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CH Offshore Q3 2012: No more debts and losing 2 ship charters

May 6, 2012 by Drizzt
CH Offshore announced their Q3 results. Results here. Revenue was weaker falling by 8.7% due to lower contribution since they sold of a vessel and some vessels were in repair Net Profit was higher due to a one time US$3.9 mil ship sale gain. Absence of that net profit would have been the same as [...]

in Categories: Shares and Derivatives

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Starhub Q1 2012 Results

May 5, 2012 by Drizzt
A short mention of Starhub since it is one of my larger holdings. The Q1 result released on May 4 was not bad. You can view the presentation slides here & the full results here. EBITDA was consistent versus last year as well as last quarter. Q1 was traditionally a weaker quarter so result is [...]

in Categories: Shares and Derivatives

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SMRT full year down on rising fuel cost, pays smaller dividend

April 30, 2012 by Drizzt
Here are some SMRT segmental information from the latest full year results. Particularly of concern is the latest 4th quarter performance. Train Operations:Revenue=149m (13% rise), Profit=19m (21% fall) LRT Operations:Revenue=2.6m(11% rise), Profit=0.068m (217% rise) Bus Operations:Revenue=55m(5.3% rise), Profit= -3.7m (110% fall) Taxi Operations:Revenue=29m(23% rise), Profit=1.2m (131% rise) Rental:Revenue=21m(14% rise), Profit=16m (14% rise) Advertising:Revenue=8.2m(37% rise), Profit=5m [...]

in Categories: Shares and Derivatives

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Share Placements

April 26, 2012 by Drizzt
Share placements are issue of shares to a particular group of potential investors. Typically, these investors are not existing investors. This is probably because the existing substantial share holders do not want to do a rights issue which would mean putting in their own cash. (Think how China Merchant Pacific,  whose owner owns 81% of [...]

in Categories: Shares and Derivatives

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CH Offshore:Vessel charter not renewed

April 25, 2012 by Drizzt
Here is an update for CH Offshore share holders. One of their 4 year charter vessel will not be renewed by the charterer. Of note is that it should not hit the profitability of the soon to be closing financial year but would likely impact the next financial year as the charter rates are much [...]

in Categories: Shares and Derivatives

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Hard up on cash? Do Extreme Couponing!

April 25, 2012 by Drizzt
Finding it hard to feed your family? Couponing have been around a long time for retail shops to make it easier for price conscious shoppers to identify themselves and yet still able to buy the products. But what I never anticipate is how much effort some people will spend on it. So much so that [...]

in Categories: Personal Finance

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Investment Moats Portfolio Update April 2012

April 23, 2012 by Drizzt
Some readers asked since January what did I add to my portfolio. Not much really. ( Click to see larger table) I basically added some of CH Offshore, Adampak, Kian Ann and Global Investments Limited. Adampak, was a short 55% gain, and I didn’t even start accumulating.  CH Offshore did really well recently. Global Investments [...]

in Categories: Shares and Derivatives

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Notes to Margin of Safety–Seth Klarman

April 22, 2012 by Drizzt
Seth Klarman is not a name very well known in our part of the world but he manages the Baupost Group, which is one of the top 10 hedge funds by net gains since inception, which was in 1983 (29 years). Most of the top hedge funds that we see are usually quantitative, momentum based [...]

in Categories: Investing

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First REIT:Q1 2012 Result

April 21, 2012 by Drizzt
First REIT continues to announce a stable set of results for the first quarter.[Results here] A distribution of $0.0776 works up to a yield of 2.09% for the first quarter and an annualized yield of 8.4% at the current share price of $0.92. A note to investors is that for this quarter and the last [...]

in Categories: Shares and Derivatives

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Marc Faber: Dividend Stocks provides cash flow but you need to reinvest well

April 19, 2012 by Drizzt
For all the doom, gloom that Marc Faber usually paints, he does believe that certain areas will bloom. Many do not know that he is pretty big on emerging market equities that generate good cash flows. In Singapore some of the stocks he owns are Starhub, K-REIT and Suntec REIT. I came  across this transcript [...]

in Categories: Investing

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Buffett announces he has stage 1 prostate cancer

April 18, 2012 by Drizzt
Warren Buffett announced  that he has stage 1 prostate cancer and will undergo radio therapy. He feels fine and the succession plan will still be in place. At Investment Moats, we hope that Mr Buffett can make a swift recovery. This week is rather depressing as I got to know an acquaintance with family members [...]

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Buying is cheaper than Renting

April 17, 2012 by Drizzt
It looks like we may see a real bottoming of housing in the US. Marc Faber and Warren Buffett is looking at US housing as inflation hedges. This article in Slate could be a tell tale sign As an illustrative example, consider the following from the complex where I live. In the rental portion of [...]

in Categories: Investing

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Singapore Press Holdings (SPH) Jan 2002 to Jan 2012 Total Returns

April 15, 2012 by Drizzt
I took some notes while looking through SPH’s Q1 report (notes here). Here are more notes. (Click to see larger chart) This chart starts from Jan 2002 to Early 2012. So its roughly 9 years. There was a sharp drop, which was due to a 5 for 1 stock split in 2004. In early 2002, [...]

in Categories: Shares and Derivatives

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