Author: Investment Income for Life

Singtel just announced its first-half results ended 30 September 2018. I actually think that it is a fairly good results being announced considering the intense competition faced by its overseas associate companies and Optus. Operating revenue surprisingly remained resilient and even grow 3% to S$8.4 billion. Margin eroded by over 21% (after normalisation from one-off gain from disposal of Netlink Trust in the previous year) mainly due to lower contributions from Airtel and Telkomsel as well as foreign currency translation losses from the effects of stronger Sing dollars against other currencies.The only concern I have is that Singtel still has not stemmed...

Recent turmoil and bloodbath in the stock market are giving me a Deja Vu feel to the 2008 pre-global financial crisis. The stock market will recover with many analysts chanting just a normal correction. Then stock prices will pick up as if poised for a major rally but within a few days commence tapering off again. This dead cat bounce will happen a few times but the market never seems to be able to break out. Our government also warned of the effects of the US-China trade war beginning to hit our economy over the next few months.  Keeping...

It always never fail to amaze me by how nasty some people can be when dealing with other people in the service line. These group of people have the notion that the old adage of “customer is king” gave them a superior right to be rude and to ill-treat others servicing them. Hence they are entitled to verbally abuse service staff serving them and make them feel like clowns. Such obnoxious behavior can also happen within the same company by a supervisor or senior manager against their own staff under them. The mentality here is that since they are...

In my last post on 21st July 2018, I have posted the reasons on why the government should step in to bail out Hyflux. I have also mentioned that Temasek linked companies such as Keppel and Sembcorp should step forward to rescue Hyflux. My wishes came through-both Keppel Corp and Sembcorp appeared as white knights in shining armour along with other interested parties. Out of 8 interest parties approved by the PUB, only one submitted a bid. It was believed that the only bid was submitted by Sembcorp.  As I mentioned before, Hyflux investors will have to suffer a...

Global Investment Limited (“GIL”) has announced on 28 September 2018 that it intends to hold a Special General Meeting (“SGM”) to pursue a few ordinary resolutions. Most of the resolutions proposed are due to technicality issue when GIL transfer the domiciliation of the Company from Bermuda back to Singapore. Hence by virtue of the Singapore Companies Act and SGX Listing requirement, it required shareholders to give a new mandate such as on existing share buyback and Scrip Dividend Scheme that are already in existence under the law of Bermuda. I will give a quick highlight of the 2 ordinary...

Frankly speaking, I am extremely disappointed with the financial performance of Asian Pay TV Trust (“APTT”) for Q2. Disappointing as in the ARPU has not stabilized at all as per asserted by APTT management for many prior quarters. Q2 2018 saw further decline instead of “stability” in the key performance indicator of all its business segments. I have previously posted that in the absence of visibility of earnings upgrade from the ARPU, I will not put in more investment into APTT due to the intense competition disrupting its business. Basic Cable and Premium Digital Cable TV Q2 2018 Performance...

The Global Financial Crisis is back again in 2018! Another Era (再创世纪) is currently being broadcasted. This is an amazing show which draws invaluable lessons from the Global Financial Crisis in 2008 but of course with elements of drama added into it. Also, I find it closely resembling the various office politics in real life and is able to draw parallel to it.  The great Roger Kwok (郭晋安) plays a resourceful man who was only a low level salaried staff and how he rose up to riches. Roger is some of those folks out there that you will meet ...

This is awesome! Our Prime Minister had announced during the National Day Rally that HDB will be launching (albeit in another 20 years time) the Voluntary Early Redevelopment Scheme (“VERS”). Under VERS, HDB owners of flats aged 70 years old will be able to vote (akin to enbloc for private properties) for the government to buy back their homes before the end of the lease. Considering that more than 80% of our fellow Singaporeans live in HDB flats, this is certainly a right step in resolving the depreciation and eventual zero value of HDB flats upon the end of...