Author: Investment Moats

Hyflux Voluntarily Suspended – ESR REIT Shareholders Should Take Note

This morning, it was reported that SGX Listed Hyflux, Singapore’s prominent water treatment firm, is considering to seek court protection to facilitate negotiations with creditors. Hyflux wasn’t in a good position. Hasn’t been for a long time. While it is one of the poster child for the government, investors have not taken a liking to the company. And it is not hard to tell why. When you look at the balance sheets, income statement, it does not give you good account that you should further explore this business. However, what is appealing is its perpetual securities and preference shares....

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Bank Fixed Deposit Rates are Finally Rising to 0.60%! So is the Deposit Insurance Limit!

This year, I been reviewing the Singapore Government Bond rates consistently. The above shows the 1 year and 10 year yield for the Jun 2018 Singapore Savings Bonds (SSB) that you could bid for since Singapore Savings Bonds started in 2015. The 10 year yield to maturity is rising, but despite the talk of rising interest rate, it is still below that in 2015 (which puts into perspective what has changed such that only now, we seem to be more worried about rates rising. What about in 2015?) However, the 1 year rates have been going up such that currently...

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How You can Start Building a Passive Index ETF Portfolio in Singapore

I have a reader, who first contacted me to ascertain whether the amount she requires to attain the status of Financial Security is correct. So she has a follow up question, after I helped her with that figure: I have decided on buying the exchange traded funds (ETF) but I am not sure what’s the process of buying it and which one I should go for. I am thinking of putting one lump sum first before investing a fixed monthly sum. Can you advise me how I should go about doing it? I read some articles online but seem...

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Learning to Invest in Individual Stocks & Proper Portfolio Management with Investment Quadrant 2.0

I been known to wear many hats, from writing about personal finance, index investing, wealth management, financial independence and commentating on all the affairs surrounding me with regards to money. The way that I been doing my wealth accumulation is through active individual stock investing. What that means is that, I spend my time prospecting the stocks in Singapore, Hong Kong to find stocks that I can invest for long term, to speculate on the short term in order to accumulate my wealth. As part of demonstrating the great benefit of my Stock Portfolio Tracker, you can have a...

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What if Your Life’s Happiness and Success Can Be Seen as Equations?

If you are a data scientist, that is what you try to do. Make things that are touchy feely look more quantitative. I have introduced Prof Scott Galloway in the past, where he explains about the different data points in the past, and in the future that lead to Amazon, Apple, Facebook and Google such a success. He was also one of the earliest that I heard saying the Amazons, Ali Baba needs bricks and mortar and that is what we are slowly seeing now. In recent weeks, he put out one awesome post, that is really useful if...

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2 Potential Problems for IREIT Global, Despite Dividend Per Unit Rising 1.4%

Been a while since I talked about IREIT Global and since I was facing some glitches with Investment Moats, I might as well give some updates. Btw, do let me know if the Singapore Prices of the Stock Portfolio Tracker is still not being updated or served. IREIT Global gives a dividend yield of 7.5% on my Dividend Stock tracker. This is pretty high if you compare to the local and even the office REITs with international properties but listed on the SGX. This is a Germany based REIT where the management changed. In this first quarter results, the...

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Some Takeaways from FLT’s EGM for their 21 Property Purchase in Germany and Netherlands

I attended the extra general meeting (EGM) for Frasers Logistics and Industrial Trust (FLT) yesterday to see if there is any delta differences between what I wrote about of the proposed acquisition and what the management answered. You can read the post in the URL above. I didn’t want to write this as I didn’t take down a lot of notes. I also couldn’t hear well since one of my ear is muffled for weeks. I spoke to Chung Keat the investor relations and Rob Wallace the CEO in brief. But since some friends asked about it, here it...

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Some Amendments to my SPH Sum of the Parts Valuation

Yesterday, I wrote about my short exercise to value SPH using sum of the parts. I realize I was not vigilant enough and missed out 3 segments: The Orange Valley Healthcare The REIT Property Management The Potential Future Development #1 and #2 are tangible to compute at this point so I added into my SPH Valuation article written yesterday. The REIT property management would probably add $150 mil to the valuation. SPH couldn’t possibly sell it off, since another asset management firm would be able to manage 3 more retail properties. However, this is to factor in the recurring...

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Valuing Singapore Press Holdings: Sum of the Parts Valuation Case Study

Singapore Press Holding is changing. Whether it is actions lead by new CEO Ng Yat Chung or previous management, the approach now seem to be morphing it into more of a property based business. I thought why not take this opportunity to take stock whether there is some value in SPH. So I will try to value SPH, and if you wish to learn, I hope this article helps. SPH just announced their 2nd Quarter Results so lets take a look. Before we start, its good to pick out the following figures, as we will need to reference them...

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Visualizing the Affordability of 4 Room HDB Flats and Rental Growth

About 80% of the Singapore population live in HDB flats. And a large number of us lived in 4 room HDB flats. HDB flats form the basis of the government’s plan to ensure that the population have affordable shelters. It is debatable whether the HDB is a way that they wish for us to build our wealth. The late prime minister Lee Kuan Yew have said in past speeches this is the case. This was reinforced in the 1990s by Goh Chok Tong and then eventually by minister Mah Bow Tan. I see 4 room HDB flat as the...

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Singapore Savings Bonds SSB June 2018 Issue Yields 2.43% for 10 Year and 1.68% for 1 Year

Here is a higher yielding, safe way to save your money that you have no idea when you will need to use it, or your emergency fund. The June 2018’s SSB bonds yield an interest rate of 2.43%/yr for the next 10 years. You can apply through ATM or Internet Banking via the three banks (UOB,OCBC, DBS) However, if you only hold the SSB bonds for 1 year, with 2 semi-annual payments, your interest rate is 1.68%/yr. $10,000 will grow to $12,462 in 10 years. This bond is backed by the Singapore Government and its available to Singaporeans. A...

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My Analysis of Frasers Logistics & Industrial Trust’s Purchase of 21 Logistic Properties in Germany and Netherlands

SGX Listed Frasers Logistics & Industrial Trust (FLT | quote: BUOU) over the past week proposed an acquisition of 21 properties in Germany and Netherlands. This acquisition requires some massive financing. I wanted to take a break from writing about this and since my friend B at Forever Financial Freedom wrote a piece about it. However, Dividend Knight asks in another article of mine whether the S$0.0183 dividends per unit is the post rights dividends per unit that we will be getting. So I thought I will share some quick thoughts. I will not be sharing some general overview,...

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$500,000 Cannot Buy You Pleasantries from Your Ex Employee

I was very annoyed when I was leaving after work. I had plan not to have too many surprises at work on that day because I would need to attend an event we organize after work. However, someone at work decided to surprise us by causing some systems to go down such that I have to make a round trip to attend to it. It wasn’t difficult to fix, its just that it take a long time before you can have access to the systems. So I really have to thank the lucky stars there are ready taxi outside...

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Value Investing in Asia, The Book Reviewed

Investing in Asia is a little different than in the west. When we start investing, we would usually pick up some of the books highly recommended for novice investors to get started. This can be The Intelligent Investor by Benjamin Graham, Common Stocks and Uncommon Profits by Philip Fisher. These are great books, and both introduce you to the basics of securities analysis, the importance of investing based on value and how to uncover growth. Asia is still predominately an emerging markets. Their stock market is still developing. Business practices, transparency and governance is more lacking. As such, some of...

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Actual Internal Rate of Return of Matured Aviva MoneySmart (RP) – Ladies Policy

As part of my active crowd-sourcing effort to find out the actual returns of matured investment policy (you can take a look at the results in this post), a reader kindly contributed her matured policy bought 10 years ago. I realize that insurance companies seldom archive the data on their old plans. The Aviva MoneySmart looks like an ILP, until you realize someone in Hardwarezone was asking an anxious question whether his mother was duped into signing on to some insurance scam. Well this is not a scam, however the returns might not be like what it was projected...

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