Author: SGDividends

The Very Curious Case of sharebuybacks – Hyflux

In my previous posts, i wrote what management of other companies proactively did to try to save the sinking ship. Ezion – Proactively issued rights to access capital – A drastic reduction in management compensation and doing more with less people – Usage of family and personal assets as a collateral to gain more funds for the company – Acceptable terms for perpertual securities holders ( Accreditated investors) Tiger Air – Proactively issued rights to access capital – Capital injection by parent company – CEOs who were changed along the way ( ok i didn’t write this in my...

Read More

A happy ending for retail perpertual securities – Tiger Air and Hyflux

What happened to actual retail perpetual securities holder in beleaguered local listed companies? In my previous posts, the perpetual securities holders were not retail ones, but generally accredited ones who traded in the wholesale market. As of now, i can only think of Tiger Air which was delisted in 2016. Disclaimer: I am not an investment advisor. Heck, i am not even working in the financial industry. Below are my interpretation and i am grateful if you will let me know if anything i say is wrong and i will correct it in a reasonable time. I am not...

Read More

Hyflux – loans and borrowings – A noob/layman’s interpretation – Pacific Radiance

Disclaimer: I am not an investment advisor. Heck, i am not even working in the financial industry. Below are my interpretation and i am grateful if you will let me know if anything i say is wrong and i will correct it in a reasonable time. I am not an expert and don’t wish to be assumed to be one. I make losses frequently. Actually, i think i learnt a lot during this episode. A person will not have the motivation to read in detail the annual report unless sh**t hits the fan. But without reading in detail, there...

Read More

Hyflux – Treatment of perpetual holders by Ezion

Disclaimer: I am not an investment advisor. Heck, i am not even working in the financial industry. Below are my interpretation and i am grateful if you will let me know if anything i say is wrong and i will correct it in a reasonable time. I am not an expert and don’t wish to be assumed to be one. I make losses frequently. I don’t like to speculate what will happen. I guess it wouldn’t be totally nonsensical to look at what happened to perpetual holders in the case of Ezion. Now, it should be noted that Ezion...

Read More

Will Hyflux recover – the billion dollar question

I believe some investors are still in the state of numbness, while many others still believe that Hyflux is different from Noble  as Hyflux hold hard assets with strategic relevance to Singapore. Many others may not even know their investments are in trouble, especially those retirees. How am i affected?I don’t know frankly because i am still sleeping fairly well, but i am posting pretty fervently and finding out more. Its weird. I don’t understand myself…maybe it hasn’t sunk in. I don’t know. But i certainly hate to lose money. Anyway, is this a cashflow problem for Hyflux that...

Read More

Hyflux – where we stand

I think at this point of time, it would be good to know how much vested interest there is among the key stakeholders in Hyflux to help the preference shareholders ( N2H), perpetual shareholders (BTWZ)  and the ordinary shareholders (600). It would also be good to know as a really rough gauge, how many people are affected. I should make it clear that this number is just a very rough ball park figure because some of the securities( N2H, BTWZ, 600) are held in nominee accounts which can hold for many different shareholders, information is based on public available...

Read More

The fate of Hyflux

Disclaimer: I am writing as a layman who do not work in this industry. What i write is what i read and interpreted. I am a noob. The poster child of Singapore has runned into difficulties. So what led to its fate? It has been stated that Tuaspring is the one that broke Hyflux due to the excess capacity in the local electricity market. Hyflux is unable to sell Tuaspring at book value due to losses, so she is unable to repay creditors, suppliers and other securities. So why is there excess capacity in the local market in first...

Read More

About rental car excess insurance – Apex vs Jucy – New Zealand holiday

Rental car insurance is a rip-off. Be careful of excess insurance reduction from rental car companies as the list of exclusions are difficult to interpret OR easily manipulated to fit into their definitions. We have narrowed down 2 rental car companies that gives real value for money in New Zealand. Apex car rental and Jucy. These are considered 2nd tier rental companies. 1st tier ones would be Hertz, Avis e.t.c who generally uses very new cars with little mileage but the prices are easily 20-40% more expensive. Apex and Jucy prices their cars  roughly the same but here is...

Read More

Opening an Australian bank account by a Singaporean

I have been getting some queries on my post on opening an Australian bank account. I guess the reason is because the aussie dollars have reached parity with the Sgd lately and people are becoming more interested. I have kept my Australian account for about 2 years 5 months just purely for holidaying and have not been taxed a single cent on my interest income. I will summarise the way to avoid taxes legally or at least minimise the tax incurred. 1)  Put a non-Australian address ( a.k.a put your Singapore address) If you put an australian address, maybe because...

Read More

My thoughts about the Singapore property market

Everywhere i turn, i can’t escape from someone getting a windfall from their enbloc sale. My parents, my secondary school friend, my client, my cousin and the newspapers. And i didn’t. Horror of horrors! The following are taken from SRX. _________________________________________________________________________________   Private property ( non landed) Sale – above and Rental- below index _______________________________________________________________________________     HDB Sale- above and Rental-below Index _________________________________________________________________________________ 1) For private property, the price is increasing but the rental is decreasing. Coupled with increasing interest rates, i wonder what is the fuel that will sustain the price increases? Euphoria borne from the spate...

Read More

About Bitcoins, Ethereum and other Altcoins

I feel like i am living in a tulip mania. Admittedly, i am not technologically inclined or maybe i am not as open-minded as i think i am. And it is very very difficult to tell what is real in this time and age. I feel more alone as i get older. “Human action can be modified to some extent, but human nature cannot be changed. “- Abraham Lincoln. I want to believe in digital currency but i can’t seem to find the answers. People who have spoken to me have been mixing up Block Chain with Bitcoins, Ethereum,...

Read More

Some Corporate Bonds and their Yield to Maturity

To me, investing in corporate bonds is easier than investing in equities, because all one needs to care about is not whether the company makes more and more money in the future, but whether the company can make enough money to survive the holding period of the bond.  However, needing to fork out generally $250k a unit ( except retail ones) adds to the risk. Given that there is little capital appreciation, the greediness to leverage looms large. I really need to give myself a slap in the face if i ever think about it and thank God, i...

Read More

Committing Financial Harakiri and the ICBC Travel Mastercard

I will be going overseas to splurge on luxury watches (looking for Pateks and Audemars Piguet) hence committing financial harakiri. Sweat…. Actually, its a gift to people special so damn it, better make it bang for the buck. Save on the taxes. I can’t possibly be carrying more than ten thousands of cash overseas. Fortunately, a special shoutout to a forumner called BBCwatcher who alerted the public on the ICBC Travel Mastercard. No link nor picture, as i am not advertising for them nor paid by them. My motive of this post is for constructive feedback in case i...

Read More

Unsatisfactory reply from SGX Regarding SIAEC – Part 2

Oh boy, i sound like the mad dog who refuses to let go. Actually, if they have read my blog, they would have realised i already checked the annual reports and also checked the funds JP Morgan holds. Curious case of SIA Engineering Sia Engineering – trying to make sense JP Morgan’s sale SIA Engineering and JP Morgan Asset Management Unsatisfactory reply from SGX regarding SIAEC The annual report reflects many nominee accounts who hold shares for people and one of these nominee accounts could be holding shares for JP Morgan. Most likely DBS Nominees or Citbank Nominees since...

Read More

Like us on Facebook

Follow us on Twitter