Its not me – part 2 – Fraser Hospitality Trust

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It's human instinct to want fairness and i am all for fairness. In one of the facebook group " Remove Sabana Reit" ,a member by the name of Mr Goh  mentioned that Sabana's rights are renounceable while Soilbuild rights are non-renounceable. This may explain why Sabana's rights expense was 12 times more expensive than Soilbuild.Renounceable rights can be traded through SGX while … [Read more...]

It’s not me – Soilbuild Reit

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Having followed the 2 facebook groups to remove manager of Sabana, one member mentioned that the cost paid to raise the proceeds through their rights was quite huge. Let's compare with industry practice again. This skill honed from years of working under a boss who keeps asking me why i want a raise every year and the need to compare with industry practice. So the closest one to compare with … [Read more...]

A fortunate series of events – AIMS, Mapletree, Soilbuild, Cambridge, Ascendas and Sabana Reits

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I am "Old Cow Eat Tender Grass" a.k.a SGDividends HYST called me and shouted:" May the year of the Rooster see you lose lots and lots of money and after losing all your money, lose your hair too! Just because you gave me $2 and a bunch of expired discount vouchers with minimum spend of $88.... You suck!" She slammed the phone, before i could retort and say :" It was just a joke, look at … [Read more...]

Sabana Reit – At the cusp of an epoch

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HSYT HSYT keeps saying my english sucks and i am unintelligible. Hence, the need of a nice cheem title to show that i have some class in my english. Anyway, HSYT came to collect angbao from me today and before she left, she muttered the following under her fragrant breath, just to rankle and jiggle this old brain of mine.( got class?) “ First they came for the Socialists, and I … [Read more...]

Sabana Reit – An opportunity to unlock value

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On 25 January, Sabana released their latest results presentation. I had a very troublesome time trying to calculate their price-to-book value post-rights.  The adjusted NAV per unit shown refers to pre-rights but naturally, everyone would be interested in knowing the post-rights one as the rights shares has already been issued. I can't find any information on the new right units in their latest … [Read more...]

Singpost – Don’t count on it for dividends

Singpost is not longer the high dividend paying stock it used to be with the change in dividend policy. With the increased shares due to placement, their latest half year earnings per share is illustrated to be 2.63 cents. Extrapolating this to a full year earnings per share = 5.26 cents.With a 60% payout ratio = 3.156 centsDividend yield (last done price $1.495) = 2.11%With a 80% payout … [Read more...]

Asian Pay Television Trust – from IPO price of $0.97 to $0.38. Dividend yield of 18.4%!

HSYT came to me again to say this motherhood statement: :"The time to buy is when there's blood in the streets.Go buy APTT. Drop a lot! Dividend yield 18.4%,  P/B 0.45!"Nice, worth a look! Except that this phrase sounds vaguely familiar...Rothschild or something. Anyway, a drop of $0.97 to $0.38 in 3 years is darn huge and it would be very interesting to point the blame at something, interest … [Read more...]

Interest rate sensitivity of Sabana

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Like a moth to a flame Burned by the fire My love is blind Can't you see my desire? - Janet JacksonSo if you have read my previous post about this particular "Hot sweet young thing " friend who recommended me to buy Sabana, she is back to recommend me! After Sabana's price having dropped further to $0.38 from the price of $0.51 when she recommended me. (Due to rights).Hot … [Read more...]

Interest rate rise and interest coverage

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Since Sabana Reit has already fallen so hard, why not buy it as there should be enough of a margin of safety ( P/B 0.66) and all bad news have already been priced in. Yeah why not, good idea!Except that the Federal Reserve has indicated a few rate rises next year and here is the picture.By compiling the interest coverage ratios of the REITs, it can be seen that Sabana Reit has the lowest interest … [Read more...]

What will i be doing since the STI has surged

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As of writing, the STI has hit a high of 2960.67. Don't know whether to be happy or sad. I'm happy because my concentration of purchases in banks since September 2015 and throughout 2016 paid off. I am quite happy because my Super Group shares are very highly likely to be privatized. I made a loss as i went in at the wrong entry price and its a lesson RE-learnt to not fall in love with a stock. … [Read more...]

Renew COE for 10 years versus 5 years versus brand new similar car

As i like to quantify things, i just needed to do up the following table to see how much savings i make if i were to renew my COE car. Note that the depreciation which i calculate is much more stringent than the depreciation that is thrown around frequently in forums or sgcarmart and the likes because i also took into account the increase in annual road tax, the increase in the mandatory vehicle … [Read more...]

Tips for renewing car

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Alas, my trusty Japanese car is turning 10 years old and i have decided to renew its COE as it still runs smoothly and a check with my trusted mechanic says that it is in perfect condition for 10 extra years. Base on the COE chart below, i was hoping that the cost of COE would go down since 2006 had the highest COE quota given out and that more people would deregister in 2016. It didn't go down … [Read more...]

Private hospitalization experience for my toddler

My toddler had a persistent high fever of above 40 degrees for a few days and a loss of appetite. Being a first time parent, naturally we were worried and we wanted the best for our child. We therefore sent him to a private hospital as it was only 3 minutes drive to our house and we didn't want to waste time queuing at Kedang Kerbau Hospital (KKH), based on feedback from others.Anyway, the feeling … [Read more...]

How to stop oneself from being greedy during bear markets

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For some, allocating their warchest in tranches based on price level of an index helps them. For me, it helps slightly but not much. I am a sucker for sustainable dividends. So i need a reason to stop wasting money using up all my warchest too fast. I have been buying lately and i do feel very guilty.The drop so far can be considered the 4th worst bear market since 1987 for the STI. The … [Read more...]

Lessons Learnt in this bear market

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Sleep has been getting better. Surprisingly, i managed to not buy anything for the last 3 days. Is this the sign of investor fatigue which i need to be contrarian about against my own behaviour? As of today, total unrealized capital loss is 7.7 %. I am actually getting pretty ok about the further capitulation of the stock market as it just means there is less risk if i were to buy further but lets … [Read more...]

Controlling my emotions in this bear market

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I unleashed my greed in August, September, October of 2015 and now with the market sell down again ....honestly, i finally feel sick. My capital gains from my greed in 2008 and 2009 has been totally wiped out due to my greed in the 3 months of 2015 and i am truly 'sian'.  My total portfolio of stocks and bonds is now down 5.5% . I still have a warchest of half my value of stocks and bonds and the … [Read more...]

My experience opening an Australian bank account as a Singaporean resident

With the AUD/SGD dropping to a multi-year low on the back of a commodities meltdown, what better way to take advantage of this then to go for a 16 days holiday in Australia. Besides, Australia is an amazingly baby-friendly nation ( much more than Singapore) in terms of places to bring the Baby to. Milk and baby food is also darn cheap, being about 40% cheaper than Singapore. And so i thought i … [Read more...]

Doing business with car dealers – Protect yourself

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Not only are cars blood sucking liabilities to get in Singapore, the process of getting one is also fraught with many dangers. Examples of car dealers who infamously made the news for various reasons:Volks Auto, KS Automobile, Galaxy carz, Cars Today, Mich Automobile,.Go google them!Common dangerThe original car owner sells a car to the car dealer for $32,000 . The car has an outstanding loan … [Read more...]

Rude Shock – DBS increased Fixed Deposit Rates

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Woke up to a rude shock today....DBS bank has increased the fixed deposit rates! The US federal government increased their interest rates on 16 December 2015 and after 7 calendar days, DBS bank follows suit. Within 2 months of repricing my home loan at a repricing fee of $500, my home loan has increased.Previous loan if i had carried on = 0.96%(1 month sibor) + 1% spread=1.96%Current loan = 1.1% … [Read more...]