Author: T.U.B Investing

PNE Industries Ltd – Sunset Industry?

For the 1st post of 2016, as per what I said in the previous post – to continue with more writing of analysis of companies I owe or shortlist or just “kaypoh”. This will be in line to promote the use of Triple S Scorecard and it will also show the readers how it will help with the analysis of the company. I will also try to track the price changes and update the analysis once the quarter results are out. So today the stock we are talking about is PNE Industries Ltd. (If your mind is thinking WHAT...

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The Value Portfolio – Recent Actions and Views – Post 5

I am lucky enough to be in time to post my last blog post in 2015 – A review of my portfolio. My overall portfolio has not done well – it was down an average of about 5%. However, looking on the bright side, it is still better than how the STI performed over the year. The following are stocks in my portfolio: 1) ISDN Holding Limited + Post 2 2) Sin Ghee Huat Corporation Limited 3) PNE Industries Limited 4) Chuan Hup Holding Limited 5) LHT Holdings Limited 6) TTJ Holdings Limited 7) Accordia Golf Trust + Post 2...

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Rising Interest Rate and A Stronger USD $

On 16 Dec, Fed increases the interest rate in USA. In this modern world, this increment in interest rate will eventually cause the Singapore Interest rate to increase as well. There is a whole lot of information on the net explaining this link This rise in interest rate will also result in a strong USD dollar in future. So how will this affect the companies in Singapore? Higher Interest Rates: Those companies that uses leverage to grow will be in for a tough time. Their debt will balloon and they will need to pay higher finance cost. Companies with...

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Why The Triple S Scorecard Do Not Have The "ROE" Criteria?

After reading this article from the fifth person, I was wondering if it is the right move to not include the ROE as a criteria. In my initial Scorecard, I did include an analysis of ROE as a criteria. But I remove it for the Triple S Scorecard because of the chapter 21, Market Consistently Underprices Quality, in Show Me The Money Book 2. It basically states mean reversion of ROE does have over a long time. A good ROE will drop and a bad ROE will rise over a long time. (I maybe wrong in my interpretation). Nevertheless,...

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Recent Views on Investment Environment (As of 07 Dec 2015)

It’s been a while since I did a write up on the investment environment. So far…I only have 1 word for it – BAD. This conclusion is formed due to 1 reason – The Oil Price Is Still Falling. This is mainly due to supply and demand factors: Oversupply due to USA increasing its shale oil output and other oil production. Thus, the usual suppliers like Saudi Arabia start to sell to Asian powerhouse instead. Instead of cutting supplies like usual, OPEC is trying to defend the market share instead oil price. Further increasing the supply of oil. Increase...

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Leisure Reading Articles for the Singapore Strategy in 2016

Sorry for the lack of articles lately as I am preparing for the course and have been busy too… This post is just informing you that I have 4 articles from the banks on hand: – Credit Suisse Asia Pacific Strategy for 2016 – OCBC Investment Research on Singapore Strategy for 2016 – RHB Singaore Smart Nation Article – RHB Singapore Strategy for 2016 If you are interested in all the 4 articles, do email me at theuniquebunch@gmail.com or use the email contact box beside this post. Nonetheless, these articles are public information and you can find on the...

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Accordia Golf Trust – The Next Post

The reaction to my first post about Accordia Golf Trust was great. Here are some of the comments I received: “I dont think the calculation for the dividends is correct. I think you are taking trailing 9 months plus 6 months” “Going forward, the FY16 DPU may drop to 4.64c…” “Q3 is low season (winter)… and Q4 make up the balance. This is probably the ‘worst’ case scenario.” “Oct number is quite high. 554k visitors. 2nd highest for year so far. So maybe no need to be too pessimistic also.” “Sounds about just right. I was forecasting more than...

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Accordia Golf Trust – Can Dividend Yield Be Maintain?

Update: Dividend is given out on a 15 months basis. So the total dividend should be 0.0803/15×12 = 0.06424. I am currently sitting on a big paper loss on Accordia Golf Trust due to its continuous fall in price. My average price is around 0.719 and the current price is 0.590. I bought this stock mainly for the dividend yield and the price has fallen quite a bit since the IPO. Furthermore, I feel that its business is great. There will always be people playing golf and the business will not be gone in a while. So I am very...

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The Value Portfolio – Recent Actions and Views – Post 4

Another update on my portfolio: 1) ISDN Holding Limited + Post 2 2) Sin Ghee Huat Corporation Limited 3) PNE Industries Limited 4) Chuan Hup Holding Limited 5) LHT Holdings Limited 6) TTJ Holdings Limited 7) Accordia Golf Trust 8) Singapore Telecommunications Limited 9) Sapphire Corporation Limited 10) Suntec Real Estate Inv Trust 11) Oversea-Chinese Banking Corporation 12) CH Offshore Ltd 13) Maxi-Cash Financial Services Corp Ltd 14) ST Engineering Ltd 15) Bukit Sembawang Estates Ltd + Post 2 16) PSL Holding Ltd 17) M1 Limited 18) Hock Lian Seng Holding Ltd Delist Macquarie International Infrastructure Fund – This...

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"The Market Is Irrational"

I had a chat with a reader recently. He finds it very hard to invest in Singapore Stocks, because the stock prices does not move according to the expected reaction of the news. Some examples he quoted are: Interest Rate Hike in the coming December – The day the fed gave strong hints that there will be interest rate hike in coming December, all stocks rise the next day. Why? (He expected the stocks to drop). US$ strength will impact on commodities stocks – But the stocks will rise instead at times. Why? Company report good financials but the...

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V Scorecard

Warning: This will be an extremely long post. After 1 month of reading plus 2 weeks of using my “after office hours free time”, I managed to create my new value scorecard – which I renamed as “V Scorecard” (sounds more atas right?). This idea came about because I felt my previous scorecard is not complete and focused more on earnings than balance sheet (which is not really in line with value investing). I wanted to do some coaching as well, so I felt a more informative scorecard is required (not that I think I am super good. My...

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New Value Stock Scorecard – An Update

Hi all, I have finished part of the job – finding the criteria for all the new value stock scorecard and creating in a hardcopy excel file (with part of the formulas done). The criteria is gathered from: – Show me the money book 1 and book 2 by Teh Hooi Ling. – Value Investing: Tools and Techniques for Intelligent Investment by James Montier. – Investment Moats Post – Net Net Hunter Scorecard – Valuewalk Post But I have yet to test it against any shares. Thus, without knowing if it will work, I will not be sending out...

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A Case of Winning and Miss Opportunity

I know I am suppose to be on hiatus but I felt I had to write about this. While everyone is looking at Saizen REIT, First REIT and Jumbo IPO, I will be telling you about 2 “Unknowns” and how it has affected me. Firstly I must say the post by AK about Saizen Reit is very good. The post by Brian on  First Reit was a very good piece of analysis. As for Jumbo IPO, I really like this analysis from investment moats. Anyway back to the unknowns… The first one was a case of being too particular...

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Hiatus till 8 Nov ~ On a Mission

I am on a mission to make a better Value Stock Scorecard. After reading “Show Me The Money”, I will be taking a break to make major changes to The Value Stock Scorecard. All those that had requested for my Value Scorecard previously will be automatically sent a new copy. I will also review if my previous stock are still value stock. Hope to have a more powerful scorecard catered for Singapore...

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Perception of Brands

After reading this article by Value Edge, it made me think about all the lower perceptions brands in Singapore. While walking along Orchard Road, I came up with a list: Bata (vs Charles & Keith, Pedro) Bossini (vs Giodarno) Giodarno (vs Top Shop) OG (vs Isetan, Takashimaya) City Chain (vs The Hour Glass) Yoshinoya (vs Mcdonalds) Burger King (vs Mcdonalds) Other than looking at the brands, I believe we should also looked into the products. A mass-market product will definitely be better than a niche market product as their target market is bigger (Burger King vs City Chain) –...

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