I bought Mermaid Maritime, United Envirotech and Aspial

No longer had the luxury of time to blog on each and every transaction within days, I might as well consolidate them into a single article and post them when I had the time. Anyway, it will still serve my intended purpose to track what I do over the years and still garner some feedback, though not as timely as I hope to. But life is all about compromise, isn't it?New addition to my portfolio since … [Read more...]

Valuer for HDB units, an easy job?

After years of painful search and watching the property prices continue to defy recession forces, a friend of mine finally settle for flat in a mature estate with about $50k above (already high) valuation. Querying the valuation of the flat, I discovered it is valued at the higher tail end amongst recent HDB resale transaction. And yet my friend is paying $50k above this. HDB valuation … [Read more...]

Valuer for HDB units, an easy job?

After years of painful search and watching the property prices continue to defy recession forces, a friend of mine finally settle for flat in a mature estate with about $50k above (already high) valuation. Querying the valuation of the flat, I discovered it is valued at the higher tail end amongst recent HDB resale transaction. And yet my friend is paying $50k above this.HDB valuation methodologyI … [Read more...]

Do we need to monitor the stock market so closely?

Hectic but fruitful life after a new entrant Ever since my girl was born and my confinement lady left, life have been very hectic, tiring and sometimes frustrating. Eventually, when she learnt to smile at us, its had been one of the happiest moment of my life and instantly felt all this was worth it :). Looking back, my last post was more than 3 months ago and I haven't really got the time to … [Read more...]

Do we need to monitor the stock market so closely?

Hectic but fruitful life after a new entrantEver since my girl was born and my confinement lady left, life have been very hectic, tiring and sometimes frustrating. Eventually, when she learnt to smile at us, its had been one of the happiest moment of my life and instantly felt all this was worth it :). Looking back, my last post was more than 3 months ago and I haven't really got the time to … [Read more...]

Investing in REITs – Really for the yield?

Business model of typical REIT People invest in Real Estate Investment Trust (REIT) primarily for the stable dividend yield. REITs are supposed to provide good source of passive income for those with neither the cash nor the leverage capacity to invest in typical properties for passive rental income. Is this really so? Before answering that question, let's look at the business model of a … [Read more...]

Investing in REITs – Really for the yield?

Business model of typical REITPeople invest in Real Estate Investment Trust (REIT) primarily for the stable dividend yield. REITs are supposed to provide good source of passive income for those with neither the cash nor the leverage capacity to invest in typical properties for passive rental income. Is this really so?Before answering that question, let's look at the business model of a typical … [Read more...]

6/6 Hindsight vs 0/6 Foresight

6/6 Hindsight Comment and analysis articles started popping up everywhere after Dubai World requested creditors to delay debt repayments for 6 months. Articles explaining how the collapsed of these property castles built on shaky grounds of leverage was just a matter of time and listed so many warning signs that any idiot could predict this crisis with ease. This kind of postdated prediction … [Read more...]

6/6 Hindsight vs 0/6 Foresight

6/6 HindsightComment and analysis articles started popping up everywhere after Dubai World requested creditors to delay debt repayments for 6 months. Articles explaining how the collapsed of these property castles built on shaky grounds of leverage was just a matter of time and listed so many warning signs that any idiot could predict this crisis with ease. This kind of postdated prediction also … [Read more...]

I bought MacArthurCook Industrial REIT on 18 Nov — a bet gone wrong?

6 November 2009: MacArthurCook Industrial REIT (MI-REIT) announced a severely value destructive recapitalisation plan on the 6 November 2009. 11 November 2009: Cambridge Industrial Trust (CIT) annouced the usage of $10.5m out of $28m from recent private placement to acquire 9.76% interest in MI-REIT. 16 November 2009: CIT alerted MI-REIT unitholders to the value destructive nature of the … [Read more...]

I bought MacArthurCook Industrial REIT on 18 Nov — a bet gone wrong?

Some history6 November 2009: MacArthurCook Industrial REIT (MI-REIT) announced a severely value destructive recapitalisation plan on the 6 November 2009. 11 November 2009: Cambridge Industrial Trust (CIT) annouced the usage of $10.5m out of $28m from recent private placement to acquire 9.76% interest in MI-REIT.16 November 2009: CIT alerted MI-REIT unitholders to the value destructive nature of … [Read more...]

Cut loss on United Food and Ocean Sky, invested into Suntec REIT on 28 Oct 2009

United Food Holdings Mistakes are mistakes, no matter how they are packaged. United Food Holdings is one of the most spectacular value destructing business on my portfolio. Starting with a huge cash horde which translates into a large cash per share, it can easily qualify as one of my best cigar butt. But as time go one, the management demostrated outstanding capability to drain it with seemingly … [Read more...]

Cut loss on United Food and Ocean Sky, invested into Suntec REIT on 28 Oct 2009

United Food HoldingsMistakes are mistakes, no matter how they are packaged. United Food Holdings is one of the most spectacular value destructing business on my portfolio. Starting with a huge cash horde which translates into a large cash per share, it can easily qualify as one of my best cigar butt. But as time go on, the management demostrated outstanding capability to drain it with seemingly … [Read more...]

Took profit on Cambridge Industrial Trust and Courage Marine on 2nd October 2009

RationaleBoth had almost doubled in share price since I acquired them. For past investments, I would have sold 1/2 of my holdings to recover my capital and let the 'profit' grow. But for Cambridge Industrial Trust (CIT) and Courage Marine, I decided to trim my holdings by about 1/3 each instead.I decided to keep more of their shares because I am still confident of their potential to grow much … [Read more...]

Reinvested remaining proceeds from SPC into KS Energy on 29 September 2009

Motivation Despite the recent oil price correction from above USD $147 last year to current level fluctuating around USD $70, I believe the demand for crude oil for energy needs, and accompanying support services will surge again as the world economy gets back on its footing. KS Energy KS Energy operates in the oil & gas industry. It has 2 main core business segments, trading of … [Read more...]

Reinvested remaining proceeds from SPC into KS Energy on 29 September 2009

MotivationDespite the recent oil price correction from above USD $147 last year to current level fluctuating around USD $70, I believe the demand for crude oil for energy needs, and accompanying support services will surge again as the world economy gets back on its footing.KS EnergyKS Energy operates in the oil & gas industry. It has 2 main core business segments, trading of capital equipment … [Read more...]

Investing in gold, a worthwhile option?

As gold price rose past USD 1,000, there seems to be a renewed interest in investing in gold. I am pretty curious to find out whether this is a worthwhile adventure. USD quoted commodities As with many commodities such as crude oil, gold is quoted in USD. When USD depreciates against major world currencies, gold prices tend to rise in assumption value of gold remains unchanged (neglecting … [Read more...]

Investing in gold, a worthwhile option?

As gold price rose past USD 1,000, there seems to be a renewed interest in investing in gold. I am pretty curious to find out whether this is a worthwhile adventure.USD quoted commoditiesAs with many commodities such as crude oil, gold is quoted in USD. When USD depreciates against major world currencies, gold prices tend to rise in assumption that value of gold remains unchanged (neglecting … [Read more...]

Reinvested funds from SPC divestment in Thomson Medical Centre on 28th August 2009

Motivation I see potential in SPC and was prepared to hold on for the long term since I got it when the oil industry was in its doldrums. I was still hopeful that more than 10% of minority shareholders of SPC could hang on to their shares. Unfortunately, PetrolChina easily collected more than 90% of SPC's shares and 'forced' me to divest my holdings. As a consolation, at least I'm fortunate to … [Read more...]

Reinvested funds from SPC divestment in Thomson Medical Centre on 28th August 2009

MotivationI see potential in SPC and was prepared to hold on for the long term since I got it when the oil industry was in its doldrums. I was still hopeful that more than 10% of minority shareholders of SPC could hang on to their shares. Unfortunately, PetrolChina easily collected more than 90% of SPC's shares and 'forced' me to divest my holdings. As a consolation, at least I'm fortunate to make … [Read more...]