Author: Sillyinvestor

Chairman statement:  Dear readers, the theme in 2016 is surviving in a volatile world. There are 2 shocker news: first Brexit and next Trump’s election. But the market survived and blossom. We are proud to announce we have grow from strength to strength. The company manage a dividend of $3849 in 2016, from a capital base of about $57000, giving a yield of about 6.5%. This is a 2.5% improvement in yield and 40% increase in dividend. However, trading profits is flat or negligible. The small profits in 1H was gone as we increase cash by taking a loss...

Singpost has found a replacement CEO. This is a CEO with operating expertise in logistic and freight forwarding. A timely change as it move to synergied its accquistions. With this CEO, I hope this pace of accquistions will stop over the next few years. The second catalyst has happened. Market is not excited, but at least not disappointed. Singpost has risen intandem with the market The third catalyst, will be out in 2 months. Alibaba has a record sale during Nov 11. Amazon also had record sales. If u read their analysts meeting notes, Mervin has always “hint” that...

Some ideas for 2017? LOL Fallen angel initially is used to describe the downgrade of bonds to junk status. I remember attending the fifth person’s invest X congress that define fallen angel security to that that fallen 90% I take 50% from its PEAk for it and I have the following: 90% fall Parkson Retail Asia 70% fall – APPT About 50% (thereabout), the following: Sabana Yangzijiang Silver lake All of them face varying challenges. With the exception of PRA, all are still profitable. PRA While PRA has no debts,  its balance sheet is weaker than it seems. It’s...

I didn’t see much views about the potential privatization of sponsor by MBK. Reading about the tender offer, offer a few insights that I think are important but not reported by the various news agency. 1) “Year 2020 problem” It means a problem that may cause a reduction in golf demand in circumstances where a majority of postwar baby-boomers who lead the current golf demand will be over 70 years old. My thoughts: It is a direct conflict with AGT’s management claims that the seniors have more time to play golf and it is a opportunity. Also, 70 years old...

i did not expect the dividends cut policy to be announced before the announcement of the CEO. I shall not talk give a summary of the quarter report, readers can look at them themselves. There are several negatives in this report. Of the above, the one that throw me off my comfort zone is higher cost in the e-commerce business. This cost, the “last minute fulfillment of labour” smell like poor execution by Global Trade, and the business in it US, I am not sure how much “control” singpost has. It’s IT investment is going to continue since the...

Last Friday was the day Singpost, Venture and Lee metals results were out on the same day. I have wrote a post about Singpost, it’s results is below expectation. As for Venture, the recovery story continues. It is a very good set of results. Not only has the recovery continued, margin has continue to improve. There is no more info on the different segments, but I guess the medical testing segment is continuing to expand The funny thing is Abeerdeen is always selling more than they are buying. Cash pile is increasing. The good dividend of 50 cents is...