Author: Risk N Returns

Portfolio @ October 2018

Performance Indicators / Dividends YTD Time weighted return: -2.26% Dividends collected: $2,932.94 Upcoming Dividend Receipts: Yuexiu Transportation Infrastructure: HKD 900 AIMSAMP Capital Industrial REIT: SGD 150 Capitaland Mall Trust: SGD 110.96 (Excluding Advance Distribution) Commentary Hunted by Red October As you may know by now, October has been an especially tough month for global investors. I personally wiped out all my gains for the year and turned to losses. While I still outperformed the STI,...

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Flashnote: Capitaland Mall Trust Westgate Acquisition Update & 3Q Results

It was a busy news day for Capitaland Mall Trust, with the REIT reporting their latest quarter of results and launching a private placement to raise funds for the Westgate Acquisition. So I thought I’ll give a quick review of each piece of news. Check the 3Q results and Private placement announcements for more information. Third Quarter Results Capitaland Mall Trust posted a pretty decent set of results for the third quarter of 2018. Here are the highlights per the announcement: Revenue and DPU Source: Capitaland Mall Trust 3Q 2018 Results Announcement DPU reached 2.92 cents in the quarter,...

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My thoughts on T2023-S$ Temasek Bonds

Following on from the Astrea IV private equity bond issue in June, Temasek Holdings has made the latest tranche of Temasek Bonds (known as T2023-S$ bonds) available for retail investors to subscribe. Personally, I’m not a fan of bonds due to my risk profile, but I support any move to convince more Singaporeans to invest / diversify away from property investments. So here’s a quick overview of the Temasek Bonds and a comparison to its competitors that are available to retail investors. More information and offering circulars on the T2023-S$ bond can be found here. Product Overview Features Tenure:...

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OCBC 360 Account Interest Changes (November 2018)

Competition between the local banks for your deposits have been heating up recently as they try to one up each other on savings account interests rates. The latest salvo from OCBC relates to the changes in interest rates for their OCBC 360 Account effective 1 November 2018. As a account holder, I thought I’ll review the changes and share my 2 cents. Current interest structure can be found here, while revised interest structure can be found here. Overview Source: OCBC Website That is a lot of mambo jumbo to describe the changes. To illustrate the changes, here’s a practical comparison between...

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Portfolio @ September 2018

Q3 is over! 1 more quarter to go to drive returns for this year. Performance Indicators / Dividends YTD Time weighted return: 4.34% Dividends collected: $2,932.94 Upcoming Dividend Receipts: Yuexiu Transportation Infrastructure: HKD 900 Bank of America: USD 10.50 Commentary A roller coaster September turned out to be a roller coaster month, with US-China trade war fears dominating most of the price action. At one point I was down up to $3k month on month! Ultimately my portfolio turned it around to ultimately...

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Flash Note: Capitaland Mall Trust acquisition of remaining interest in Westgate

Today, Capitaland Mall Trust finally released more information on its proposed acquisition of Westgate as part of its EGM circular to unitholders. As a unitholder myself, I thought I’ll dive in, give my quick thoughts and speculate a bit. The circular and presentation can be found here. Overview Capitaland Mall Trust is proposing to acquire the remaining 70% interest in Westgate that it doesn’t own from its sponsor, Capitaland. It will be holding an EGM on 10 am, 25th October 2018 to obtain unitholders’ approval to proceed with the acquisition. As most Singaporeans know, Westgate is a mall located...

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OUE Commercial REIT rights issue – a case study of value destruction

Regular readers would know that I have shifted to a more income approach over the past year and as part of that strategic shift, it involves purchasing more REITs for my portfolio. Also, I have in the past espoused my love of rights issues / preferential offering as seen in my participation in the Frasers L&I Trust preferential offering. Unfortunately, just as stocks are not born equal, REITs are also not born equal. Whether a rights issue is value accretive or destructive very much depends on the structure of the deal, with that heavily influenced by the REIT Sponsor...

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Keppel Corp Retail Shareholders Briefing 2018

Keppel Corp held a retail shareholders briefing in collaboration with SIAS at the SGX Centre yesterday. It’s the 2nd year this briefing was held and it presents a rare chance to interact with the C suite, with CEO Loh Chin Hua and CFO Chan Hon Chew in attendance. I joined a predominantly Merdeka/Pioneer Generation audience to find out more. Presentation slides used at the meeting can be found here. Presentation As previously described in my piece on Tianjin Eco City, Keppel has embarked on a strategy to be the one stop shop for sustainable urbanisation solutions. What this means...

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Retirement planning is as much about self sufficiency as it is about love

By now, at least some of you should have watched this heartwarming ad from NTUC Income about “The Worst Parents in the World”. [embedded content] In the ad, the groom at his own wedding dinner described how he had a “terrible” childhood, no piano lessons, no expensive tuition, no expensive overseas trips or birthday celebrations. However, he expressed his gratitude that they did it, so that they could be self reliant in retirement and not be a burden to him. Amid all the concern over Singapore’s cost of living and the cost of raising a family here, the ad...

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Portfolio @ August 2018

Another month, another portfolio review. Performance Indicators / Dividends YTD Time weighted return: 4.49% Dividends collected: $2,767.12 Upcoming Dividend Receipts: Yuexiu Transportation Infrastructure: HKD 900 AA REIT: SGD 150 Visa: USD 11.76 Commentary A month of milestones The past month was a month of a few milestones – turning 30 and revisiting an old goal, scaling new heights in portfolio value and today, 1 year of financial blogging. My first blog post was a porfolio review as at August 2017 1 year ago and...

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Shifting my investing style

Many people tend to pigeon hole themselves into a particular style of investing they identify with – Value Investors, Growth Investors, Income Investors, Index Investors, the list goes on and on. The talks and courses I’ve attended to date also tend to teach a singular method to investing, maybe because it is easier to sell and structure into a course / talk. I used to be very clear on what my style was – High growth stocks all the way. However, over the past year, I’ve transitioned to a more income approach as seen by my portfolio comparison below:...

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Tesla – Symptoms of poor governance pile up

US Tech stocks were my first love in my investing journey. That said, I’ve never felt compelled to jump on the Tesla (NASDAQ: TSLA) bandwagon. I initially didn’t bother because I hated the car manufacturing business. Slowly as the years went by, I saw Tesla as a company that at best was not operating to its fullest potential, at worst was a dysfunctional managerial mess. With the recent public controversies over CEO Elon Musk’s tweets over a potential privatisation of Tesla and his emotional stress, I thought I’ll run through some of the symptoms that kept me away from...

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Understanding Islamic banking principles and its application to investing

In the past few months, I’ve been sharing on-and-off with a Muslim colleague on generating passive income and my own journey to financial freedom. It was through these discussions that I was reminded of the existence of Islamic banking. As someone who has read next to nothing on this topic, I thought I’ll do some reading of my own and present my findings here. (Disclaimer: I’m a free thinker and do not presume to know everything about Islam or its guiding banking principles. While I endeavour to make sure the information is accurate as far as possible, take it with...

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5 things Singaporean investors should be thankful for this National Day

National Day has always been a time of patriotic celebration. For me, it tends to be patriotic reflection. This has been made more pronounced with my work travels over the past 1 and half years. Sitting here alone chilling in my Beijing hotel room having worked through yet another National Day overseas, I thought I’ll share my top 5 things I feel Singaporean investors should be thankful for this National Day. 1) Income tax regime The best part of being a Singaporean investor is the relatively low income taxes as well as no taxes on dividends and capital gains....

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If Professor Oak introduced Investing

Introduction Hello there! Welcome to the world of Pokemon Investing! My name is Oak! People call me the Investment Prof! This world has many instruments for investing! For some people, they invest to build passive cash flow. Others invest for capital gain. Myself… I study investments as a profession, and I’m here to provide you with a beginner’s guide to investing! How investments accumulate wealth There are generally 2 ways you can profit from investments – Capital gain and Dividends. Capital gain refers to the “Buy Low, Sell High” concept. Dividends refers to cash distributions to shareholders as and...

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