Author: SGDividends

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...

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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...

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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...

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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...

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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,...

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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...

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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...

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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...

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Unsatisfactory reply from SGX regarding SIAEC

Alamak. What kind of reply is this? Why is SGX asking me to clarify with the source of the information when it is already published publicly in Reuters and SPH Business Times .Unless they are implying the above news is unverified.  SIA Engineering and JP Morgan Asset Sale SIA Engineering – Trying to make sense of JP Morgan sale Curious case of SIA Engineering Reply by SGX Anyway,  for the sake of continous learning and curiousity, i have emailed...

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SIA Engineering and JP Morgan Asset Management

I understand that SIA Engineering was dropped as a STI Component on 1 Sep 2017 and this remains the most possible explanation for now, though lingering doubts remain. The Curious Case of SIA Engineering SIA Engineering and try to make sense of JP Morgan’s sale Based on SGX website, the Edge Singapore mentioned JP Morgan Asset Management Real Assets (Singapore) Pte Ltd, so i went to google and it brought me to a list of funds managed by JP Morgan Asset Management. The most likely place a stake such as SIA Engineering would be hiding in would be in...

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Sia Engineering – trying to make sense JP Morgan’s sale

SIA Engineering’s response to SGX queries still sheds no light on why JP Morgan offered to sell 28 million shares. Looking at the volume traded on 4 october, about 5.5 million shares changed hands through SGX. The past 2-3 months total volume also don’t add up to 28 million which mean they haven’t sold it yet. Could they have done it through a married deal and who is the counterparty? According to SGX rulebook, married deal needs to be reported. 8.7.4 Direct Business must be reported through the married trade reporting system of the Trading System under Rule 8.7.5. I need...

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Curious case of SIA Engineering

Straits Times reported a massive selling of 38.8 million shares in SIA engineering by JP Morgan. This likely being the reason why it plunged 6% to $3.15. BUT…………….A look at the Twenty Shareholders breakdown in their latest Annual Report shows Singapore Airlines Limited holding on to 77.72% JP Morgan is not in the list. So where did JP Morgan get 38.8 million shares to sell?A look at SGX website Stockfacts on 04/10/2017 also shows JP Morgan not in the list. The next biggest shareholder is Matthews , holding 22,873,500 shares which is much lesser than JP Morgan’s short sale...

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Bought Comfortdelgro and hoping for the best

The dividends being 5%+ and a currently, consistently free cash flow positive company with little or no debts. With the PE being in the low teens, it is a sin for me not to take part. Judging by the huge gap down coinciding with the huge short-sell volume on 15 Sept and 18 Sept, this indicates that the huge down is due to short-sellers, not genuine sellers. A short-seller has to buy back the shares eventually. Short-sell value 19 Sept – SGD 7,335,227 18 Sept – SGD 13,958,536 15 Sept – SGD 19,597,813 14 Sept – SGD 1,642,692 13...

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Considerations about Hyflux

    “Should i sell my perpetuals (BTWZ) or preference shares(N2H) of Hyflux?” asked a concerned HNW individual. ” I don’t know..it is complicated.”I said. “Don’t ask a church mouse”. But that got me thinking. There is no denying that Hyflux is super leveraged and it is issuing debt to repay old ones. In May 2017,the issuance of $500 million perpetual securities (N2H) was done at a good time for the company because the closest comparison , Hyflux Preference shares (BTWZ) has been trading consistently above par of $100 since its issue, even reaching $105 at one point (...

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