Author: Evergreen Investing

Dr Lee buys more Singapore O&G shares

Dr Lee, one of the Singapore O&G founders bought SGD65k of shares last week. This is part of a string of insider purchases over the last 12 months which suggests that the company is undervalued. As I previously mentioned, Singapore O&G net profit is likely to see at least 10-12% earnings growth over the next five years because of its strategy to expand its women’s healthcare and paediatrics practice.   Buyer Shares bought Value (SGD) Implied share price (SGD) Jul-2018 Dr Lee Keen Whye            193,500        65,480                                       0.34 Feb-2018 Dr Joyce Lim            100,000        38,750                                       0.39...

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iFAST cuts SG and HK stockbroking fees

Quick update on iFAST which in my view is poised to see double digit growth over the next five years. iFAST recently said it intends to lower its Singapore and Hong Kong stockbroking commissions from 0.12% to 0.08%, the lowest in Singapore. Cutting stockbroking commissions is a great move for 3 reasons. First, more than 92% of its AUA consists of unit trusts as of end-2017 so this cut in stockbroking fees is unlikely to hurt the company.  Second, iFAST revenue per employee is very high because of its Internet-based platform so the company can afford to lower fees. 2017 comparison...

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Singapore O&G: steady growth

SOG (Singapore Obstetrics and Gynaecology) is one of the cheapest healthcare companies listed on the Singapore stock exchange. Healthy growth across all economic conditions is a key strength for this female healthcare company with its focus on resilient specialist practices such as obstetrics, Gynae-oncology, and paediatrics. SOG was incorporated in 2011, listed on the SGX in 2015, and as of end- 2017, SOG employs 12 specialist doctors which includes six O&G specialists, three cancer specialists, one dermatologist and two paediatricians. Steady earnings across all economic conditions SOG results (SGD m) Year Revenue Net profit Operating cash flow Free cash...

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