Author: Mr. IPO

Dynasty REIT (Preview)

  Issuer: Dynasty REIT – first RMB denominated REIT on SGX Sponsor: ARA Asset Management Ltd Issue size: 893,872,000 to 901,292,000 shares Distribution Yield 2013E :7.0% to 7.2% Price range (based on RMB5.115 = SGD1.00) : RMB4.40 (SGD0.86) – RMB4.70 (SGD0.92) Expected Allocation: 24 Oct Expected Listing Date : 30 Oct Preliminary prospectus is here. I received the above from my broker today. It always gives me “bad feeling” when Li Ka-Shing wants to cash out of the market. You can see that he always cash out at the market top. You can see it in Suntec, you can...

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Geo Energy Group

Geo Energy Group (“Geo” or the “Company”) is offering 289,264,000 shares at $0.325 each. 3m shares will be via public offer and the balance 286.264m via private placement. 258.348m New Shares will be issued and the Vendors are selling 30.9m shares. The market cap will be $376m. My initial preview is here and the final registered prospectus is here. The IPO will close on 17 Oct 2012 at 12pm and starts trading on 19 Oct 2012. Geo is a coal mining group in Indonesia. Its main business will be to own and operate its own coal mines as well as...

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SRS Portfolio at 30 Sep 2012

I received my Sep SRS account statement today. This month is a pretty “low” month in terms of dividends received. There is only $80 received from my QAF counter. This will probably allow me to buy 2 to 3 “free loaves” of bread per month when i retire but considering that this is an interim dividend, hopefully i should get more bread soon. This is an active month for the SRS portfolio in terms of purchases. 3 Sep – Bought 5 lots of Far East Hospitality Trust. 11 Sep – Bought 10 lots of UMS Holdings Ltd 26 Sep...

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Round 6 – Will it work this time?

Interestingly, after my post on 25 Sep 12, the government came up with the 6th round of cooling measure. The two measures are as follows: Mortgage tenures limited to 35 years. Lower loan to values on loans over 30 years. In my opinion, i think MAS (or the government) will continue to watch the market closely and do whatever it takes to cool the market in order to avoid a property bubble. A graphical view of the cooling measures from the Morgan Stanley report. The new measures are pretty interesting because it seeks to stop people from buying their...

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Courts Asia Limited

Courts Asia Limited (“Courts” or the “Company”) registered its prospectus today. This was a continuation of my earlier preview post. Company Description The Company is a leading electrical products, IT products and Furniture retailers in Singapore and Malaysia and is offering 178m shares (60m New Shares and 118m Vendor shares) at $0.77 each for its Initial Public Offer. The Company has a strong brand equity, with more than 25 years presence in both Singapore and Malaysia. The IPO will close on 11 Oct 12 at 12pm and starts trading on 15 Oct 12. Vendor sale The vendors selling the...

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My Property Journey Rewind – 2007

The latest government measures to cool the property market hit us on 5 Oct 2012. I will analyse the impact another day but it really seemed that the government is trying its best to stop the property bubble from happening. Let’s continue with part 5 of my story today where we travel back to 2007. Part 1 is here. Part 2 is here. Part 3 is here. Part 4 is here. It was Feb 2007. HSBC just announced that it will have larger than anticipated losses from default of subprime mortgages. This was the first warning point and the start of...

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Geo Energy Group (Preview)

Geo Energy Group (“Geo” or the “Company”) is a coal mining specialist company based on Kalimantan, Indonesia. Geo own and operate coal mine and sell coal and as of 31 Dec 2011 it has proven reserves of 4.2m tonnes and probable reserves of 8.3m tonnes. The Company recorded revenue of US$69m and profit of US$14.3m in FY2011 based on its audited figures. It is interesting to know while Sakari is in the midst of being delisted, there is another coal company trying to get listed back on SGX. I am not going to do a detailed analysis, so once again, this...

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Children’s Day Investment Policy?

With effect from this Children’s Day – 5 Oct 2012, i am going to make some minor adjustments to my investment criteria for the SRS portfolio. If you have been following my blog, I have built up a portfolio of dividend policy paying REITs and stocks in the last 2 months but i am still holding on to quite a bit of cash. (About 40% of the portfolio).  I am pretty cautious of adding new positions as the market seemed to be forming a “Yield Bubble” and in all cases, bubbles are unsustainable. To be honest, i am quite...

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Courts Asia Limited (Preview)

Courts Asia Limited (“Courts” or the “Company”) was previously listed in Singapore but was privatised in mid 2007 by both Baring Private Equity and Topaz Investment Worldwide. The article is here in case you need it. At that time, both the investors valued Courts at just over S$100m.  The Company attempted to go IPO in 2010 but withdraw its listing eventually. At that time, the investors were seeking to raise $170m through the IPO. Courts Asia lodged its prospectus with MAS recently for a listing. This time round, its has lined up a series of Cornerstone Investors such as...

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Perennial China Retail Trust – news update

Since my investment into the above on 21 Sep 2012, PCRT announced on 2 Oct that it is diversifying into Beijing. This project will be invested together with some reputable local businessmen from Singapore but will only be ready in 2016 and PCRT will have the right of first refusal over the retail space. Personally i think it is a good diversification for its current portfolio. The report by DBS is here. Happy...

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Religare Health Trust (Preview)

Religare Health Trust (“RHT” or the “Trust”) is doing its book building now. I will do a more detailed write up when it is finally launched. The offering statistics are as follows: Issuer: Religare Health Trust Sponsor: Fortis Healthcare Ltd Issue size: 567,455,000 shares Implied Yield 2013E : 8.46% to 9.10% Implied Yield 2014E : 8.66% to 9.29% Price range : $0.88 – $0.97 Expected Listing Date : 19 Oct Just as a way of background, Fortis lost to Khazanah in 2010 over the battle of Singapore’s Parkway. Fortis is now launching its Trust into the Singapore market. RHT...

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No 3 No 4 ?

I haven't been trading actively since my last posting to share with you how to watch out for the "stars".  For the last 2 weeks, the market was probably in a no 3 no 4 (不三不四) situation where it was neither going up nor breaking down. It is basically in state of confusion and in a limbo until we can see a clear winner between the bulls and the bears. I will probably continue to stay on the sidelines until i can see trades that give me a better risk-reward ratio. Straits Times Index Let's do a quick recap...

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New proposed IPO allocation rule for retail investors

In case you haven’t heard, your chances of getting hot IPO shares will be boosted if the following proposal is adopted by SGX. The article is posted below in case you need it. “This will not only provide retail investors with more opportunities, but their increased activity in the secondary market will also add to liquidity”, SGX said. Is SGX implying retail investors are “shorter term” in nature and thus the liquidity will increase because they will buy and sell more? :-P Anyway, you can let your views be heard via the email address above. hahaha :)  Please note that the...

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How i will evaluate a property and a good website to share!

I found an interesting website yesterday. Never knew it existed till someone show it to me. I think Squarefoot Research was created with the user in mind and intuitively, you will be able to find the information which you may want to know for a particular development. I think it contains a lot of good stuff which you cannot find through the URA website or other websites. Let’s just use one of the examples which i have used previously, Citylights Condo, to show you the thought process behind evaluating a condo. 1. First you get a summary page on the condo. There are many...

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Passive income from blogging?

When i started my Singapore IPOs Blog on 7 July 2007, I wonder if it is possible to receive some passive income from blogging. The idea behind was to combine my passion for investing with my desire to share that knowledge through blogging and then trying to earn some coffee money out of it. I will share with you my experiences here and you can decide for yourself if you want to take this path. It took me exactly one year before i receive my first pay check from Google for reaching the minimum payout milestone of US$100. I...

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