Author: Investment Income for Life

Jui Residences Review- Inspired by Heritage, Designed for Quality Living

Jui Residences is a freehold development that sits on the former National Aerated Water Company site. I used to study in a school at Geylang Bahru and as I walked to the bus stop home along Serangoon Road, it became a daily ritual to always do a stopover at National Aearatd Plant and buy Kickapoo from a vending machine near its main gate. It dispensed Kickapoo cheaply at a mere 10 cents per cup and was very popular with a lot of school kids then. As a result, this development held very fond memories for me. Strangely, the show flat...

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Asian Pay TV Trust Meltdown- Is It A Good Buy At Current Price And Is It A Good Business?

Asian Pay TV Trust (APTT) unit price plummeted this week upon the announcement by their management team that they will be cutting dividends by 80%. This was a rude shock to many of their investors who were anticipating the dividend to be cut by half only. As a result, the unit price had a meltdown and dropped to S$0.15 during an all-time low on 14 November 2018 from the previous day closing price of S$0.315. Obviously, a lot of dividend yield-seeking investors are cursing and swearing at APTT. I also know of a case of an investor who bought...

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Singtel 1st Half 2018 Results Review And Interim Dividends Payout (6.8cents per share)

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...

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Risk of Higher Interest Rates Effect On Stocks and Properties Amidst Trade War Between US And China

The stock market has been going on a see-saw ride for many months now. Just a few days ago, stock market worldwide rallied thinking that Trump will end the standoff in trade spat with China. But then on Monday, Asian markets tumbled immediately after White House economic advisor Larry Kudlow gave a clarification that the US is not likely to deal. In view of the great uncertainty over the resolution of the ongoing trade row, economic activities will continue to slow down albeit the full impact not being felt in Singapore yet. We remain in a perilous situation. The relentless increase in...

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Dead Cat Bounce and Bear Coming Out? Are We In A Recession Already?

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...

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Singapore Press Holdings- Review of FY2018 Results and Cut In Special Dividends

SPH had announced their full year results for FY2018 on 15 October 2018. The media segment had continued its decline. Good news here is that the rate of decline had slowed down. However, the decline is serious enough on its free cash flow to warrant SPH to cut down on their year-end special dividends. In its results announcement, SPH mentioned that the Media segment continued to be highly profitable. I actually think otherwise. Operating GP margin for Media segment is only at 14.1% based on annual revenue generated of S$655.8Mil and profit margin of S$92.3Mil. I would think that...

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Treating People With Respect- The World is Round (Survival Guide Pre-Financial Independence)

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...

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White Knights Charging Forward To Save Hyflux And Tuaspring

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...

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World’s First Super Battery Prototype Successfully Developed- Electric Car Revolution Coming Up and Sunset Industry for Oil and Gas Companies!

2018 has been an amazing year for the progress of new scientific breakthroughs. We live to witness the major leapfrog of another new battery technology during our life time since the development of the first lithium ion battery in 1980. Billions of dollars has been invested by many companies seeking to be the first to develop a super battery to overcome the current constraint of limited power storage in our traditional batteries. The solid state battery technology has been the long awaited break through in battery technology that is poised to solve 3 main obstacles hampering the use of...

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Global Investment Limited (Attempt To Unlock Intrinsic Discounted Value)- Wiping off Accumulated Losses from the Global Financial Crisis.

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...

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The 99 Years Leasehold HDB Issue And The Legend of Freehold Property is King

Recently, I have been hearing a lot of people talking about the declining value of HDB Flat due to the 99 year leasehold problem. The opposition political parties members also went on to rattle away about how the current government is not doing enough to address this problem and it is wrong to be telling Singaporeans that HDB is an appreciating asset. In addition, many folks began to assert that owning a freehold property is the best solution to preserve the capital value of the investment into housing which is a major component of all assets for most families....

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Asian Pay TV Trust Review for Q2 2018-Plummeting Unit Price And Goodbye To Yummy 2019 Dividends.

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...

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The Global Financial Crisis Strikes Again Year 2018!

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 ...

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Investment Portfolio Updates- Aug’18 (Much Volatility in the Market)

Passive income projection of S$25.3K per annum @ 6.13% yield (Dividends only and exclude CPF and rental income) Total stock portfolio and deployable cash for investment is S$425K (excluding investment property and CPF) For the past few months, the stock market has been on a see-saw ride after the market correction. I am glad that my significant weightage on REIT component has withstood much of the market downside with vastly lesser volatility relative to other SGX counters. Key highlights of the following main changes to the portfolio: 1. Sold off all my Netlink Trust holdings at a loss. The...

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Government Solution to HDB 99 year leasehold expiry issue- Voluntary Early Redevelopment Scheme (VERS)

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...

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