Author: Sillyinvestor

LMIR latest results

Again, depreciating IDR affect results. However, ignoring the currency weakness, there are still pockets of concerns to highlight: 1) Pluit Village mall is the biggest mall in LMIR portfolio. It has a drop in occupancy from 87.9% to 81.6%. 2) In IDR, while Gross rent and net rent is stable, it is the third consecutive quarters of YOY fall. This is despite occupancy rate remaining stable and positive rental revision. The cause should then be due to fall in GTO rent. Consumer spending in Lippomalls has not seen any revival. If oil subsidy get a big cut, it will...

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Random thoughts: after thoughts after watching Joy Truck

Random thought series has nothing to do with investment, it is more like my online diary. Yesterday episode of joy truck showed a single mother family whose son lacked much self-confidence even when he is out playing at RWS. Reminded me of a colleague who lack some self-confidence since she is a divorcee. We always say words like “it’s all in the mind”, “always look at the bright side”. Of course I do not deny the wisdom of these words. However, I think we sometime underestimate the negative energies of external forces. Of course, there are people with huge...

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Random thoughts: world vision gift catalogue and my son

We all have our pet cause for charity. For me, is world vision. Their concept of sustaining an Eco- system such that a whole village get lift from proverty is particular appealing to me. You can google world vision to learn more. Towards the end of year, world vision have the gift catalogue, for u to pledge donation to give blanket, school bag, etc. See here: https://giving.worldvision.org.sg/en-us/giftcatalogue/ This is a great chance to teach my son about giving. I promised my son a $40 worth of toys for Christmas. He had wanted to buy it immediately last month. He...

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Random thoughts: Advice for a close friend who wanted to start investing

Recently, I talked to a close friend about financial journey, how I seem to be taking 2 steps forward and 1 step back. She becomes very interested in the concept of investing and compounding returns. She told me she was sold a few times before about the idea and was worried that she get conned by salesmen. There is so much to explain about investment, so I Think hard how to explain the most important quickly. I thought my explanation to her might be useful to beginners. How it works: Assume a 6% return of dividends (Not capital gain),...

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A closer look at ST engineering and Sembcorp Industries latest results

ST engineering aerospace results: There was impairment losses on an associate. The CEO mentioned there is some restructuring of operations at Europe, and so I assume the impairment comes from Europe. Looking at the segment results, it is not difficult to pinpoint the problem. It is the component/ engine repair and overhual segment that saw the plunge in profits, the actual same segment that overlapped with SIA engineering. Personally, I think we cannot use one quarter of results to assume worse to come for SIA engineering, but I think it is a bit of stretch to lump ST with...

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Core reasons for buy and sell decisions (ST engineering and Sembcorp Industries)

The earning reporting season is here again. It is with some irony that I am writing this. We always have a list of reasons to buy and sell, and why we think a stock has room to move upwards or downwards. It happened I am wrong on the nitty gritty but right on the bigger reasons, core reasons. Let’s look at the reasons that I got right. 1) I was looking at both SIA engineering and ST engineering and deciding which to get. SIA engineering actually give better yield. I got ST engineering because it has better FCF, and...

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Random thoughts: playing the mind games?

Random thought series has nothing to do with investment. It is my grumbling, and most of the time, talking to myself, or bo liaoing with myself. The mind or heart is a scary thing. In my previous post on making savings, I mentioned tapping on the heart to feel poor, so that I do not indulge on any excesses. According to lady killer, it is a call a nuero– whatever la. It is kind of scary to play mind games, even with oneself. It is very successful, I have not spent a single cent on breakfast  outside of my...

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Correction to "Random thoughts: The singapore property cycles." Post

I made a error in my calculation, and I think I need to point it out. Thank you to Chan Yuan, who leave comments that alert me to the error and generate more discussions. My apologies. Will be more careful with numbers. I mentioned a growth rate of 2% on non resident population with means 320k more residents every year. The correct figure should be 32k I also state there is a supply of about 30k units without buyers in the pipeline, that will come on the market over the next few years. There is also a link provided...

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Random thoughts: The singapore property cycles.

I was thinking about property cycles. I think to myself, there are plenty of unsold units from various listed developers, mostly the luxury segment. Given that in another 1-2 years, most will be hit with penalty for holding them vacant, they either can pay the penalty or reduce price to move them. When they slash price to move them in the environment of increasing interest rate as well as supply, wouldn’t it create a domino effect? Maybe it would be a good time for some property shopping for this new property cycle in a year or two. I decided...

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2 rounds of money saving exercises

My 2 rounds of money saving exercises are 1 year apart. The savings are not actually significant, but nonetheless better than nothing. First round: Review the monthly bills. My iPhone plan used to be the second tier plan, which costs about close to 50 dollars, and I have a mobile broadband plan that cost $20. I change my phone plan to a lower plan and convert it to Coporate plan. I cancelled my mobile plan, since it’s mainly for my iPad use. Usually, my son used it to watch utube. Savings: $40 a month Pitfall: when renewing/ upgrading your...

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Random thoughts: What is your weapon system in Investment

Just for fun, here goes: Most of us who started off investing in university, use a Parang or maybe a revolver to kill. But we always thought we can use a Parang or revolver to slay bears, tigers and dragons. Slowly, we realized, we need more than revolver and rounds and rounds of ammunition. We need something more sophisticated. Be it a trader or value investor, or whatever name you fancy, the details are different, but I think you know the following nonetheless. A Radar system: To identify stocks to make money. TA for traders, FA for investors or...

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Comparison of Industrial Reits Part 2

I will be comparing Mapletree and Ascendas Reit in this post. Both are bigger reits with government-linked heritage.   Capital management Both have prudent refinancing schedule stretch over more than 6 years. With the exception of FY19/20 (27%) for Mapletree, both have less than 20% of bank borrowing scheduled for refinancing for any one year.Portfolio management Both reits managed positive rental renewal across all property segments. Average rental reversion is 6.3% compared to a year ago for ascendas, but data not available for Mapletree. As for new leases, light industrial new leases rate is 21% lower than 1 year...

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Comparison of industrial Reits Part 1

I will be comparing Sabana and Cambridge Reit in this post. Both are smaller reits with weaker sponsors. Sabana and Cambridge has similar Master Lease to Multi-tenant mix. Sabana is 59% to 41% Cambridge is 56.5% to 43.5% Theoretically, Sabana with its higher Master Tenant Lease, should have a lower operating expenses. But given the difference in insignificant, lets not be too harsh. Cambridge’s NPI to revenue is 78% Sabana’s NPI to revenue is 72% Cambridge managed “renewed approx 300,000 sq ft of leases in 3Q2014, amounting to 1.6 million sq ft of leases YTD2014 with positive rental reversion”,...

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Random thoughts: Pain, the indispensable ingredient for success

Pain, get ready for it. The faster you accept it, the better you mind is attuned to face it. What I show my students 1 week ago, before I start my intensive revision. In order not to feel guilty, I decided to do something too. I like to take little snacks to treat myself as comfort items. I sometimes go out of my workplace to have lunch, have a good breakfast, buy some snacks to eat before I start the afternoon session of work. Now, for the past week, every time I feel like buying the “Gong Cha” for...

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Random thoughts: striking a balance between engagement and effectiveness

Between the two, which is a must have? Which is a good to have? My answer is, there is no good balance. You sought both, you get nothing. One has to make some way for the other. However, if you are very highly effective, there will be rub-off engagement, vice versa is true. In my previous school, engagement is the key to effectiveness, now, effectiveness is the key to engagement.  A fellow colleague from another workplace, told me his boss value , engagement a lot, care a lot of his staff welfare. Nope, it is not lip service, all...

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