Author: The Fifth Person

10 things I learned from the 2018 Singapore Press Holdings AGM

Singapore Property Holdings. Excuse me, I meant Singapore Press Holdings (SPH) is not the same as it was ten years ago. The newspaper industry has been disrupted by the Internet. More and more companies prefer to spend their advertising dollars on Facebook or Google — that’s where they can get the most bang for their buck by targeting consumers based on their demographics and interests, instead of blindly advertising to the masses. Source: Singapore Press Holdings 2018 Annual Report Newspapers, whether digital or print, face intense competition when there is so free news content out there. You can keep...

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13 things to know about Ascendas Hospitality Trust before you invest

Listed in July 2012, Ascendas Hospitality Trust (A-HTrust) owns a portfolio of hospitality properties located across Asia-Pacific. As at 31 March 2018, A-HTrust’s portfolio was valued at S$1.6 billion. In this article, I’ll provide an overview of A-HTrust’s latest financial results, updates on its property portfolio, and look at a few valuation metrics to evaluate its investment potential at its current price. Here are 13 things to know about Ascendas Hospitality Trust before you invest. Portfolio reshuffling 1. As at March 2017, A-HTrust owned 11 hotels — six in Australia, two in China, two in Japan, and one in...

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13 things to know about QL Resources before you invest (updated 2018)

QL Resources Berhad is a multinational agro-food corporation which is primarily involved in three core businesses: integrated livestock farming, marine products manufacturing, and palm oil activities. As I write, the company is worth RM11.2 billion in market capitalization, making it one of the most notable homegrown success stories in Malaysia. In this article, I’ll bring an update on QL’s financial results, its plans for growth, and introduce a few valuation metrics to assess its current stock price. Here are 13 things you need to know about QL Resources before you invest. Segment results 1. QL’s marine products manufacturing division...

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15 things to know about Scientex before you invest (updated 2018)

Established in 1968, Scientex Berhad has grown into a conglomerate which derives income from two core business segments. First, Scientex manufactures a wide range of plastic packaging products which it exports to clients located in more than 60 countries worldwide. Second, Scientex is a reputable property developer with a number of projects concentrated mainly in Johor, Malaysia. For many years, Scientex has been a darling for growth investors. This is due to its impressive track record of delivering a strong set of financial results year after year which had led to a long-term appreciation in its stock price. As...

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4 ways to spot multibagger stocks that could potentially grow 10x in value

The 10-bagger is a well-known term among investors and it’s used to describe an investment that has multiplied in value by 10 times. As you know, it’s not easy to find (and hold onto) a 10-bagger stock and hitting it is a significant achievement for any investor. Honestly, my personal best so far is a three-bagger but this doesn’t mean I’ve stopped aiming on getting a 10-bagger someday. To that end, I’ve been doing research in recent years about how a company can successfully grow 10 times in size. What I’ve uncovered among the 10-baggers I’ve studied so far...

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7 things to know about Ajinomoto Malaysia before you invest

Ajinomoto (Malaysia) Berhad was one of the very first Japanese companies to start its business operations in Malaysia in 1961. Since then it has expanded from being a distributor of monosodium glutamate to a manufacturer of a wide range of food seasoning including umami seasoning, ready-mix seasoning, chicken stock, pepper, sweeteners, and industrial seasoning. Ajinomoto Malaysia now has 10 branches in Malaysia and one sales office in Saudi Arabia, and a market capitalization of RM1.25 billion as at November 2018. Here are seven things to know about Ajinomoto Malaysia before you invest: 1. Ajinomoto Malaysia has two main product...

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12 things I learned from the 2018 Starhill Global REIT AGM

Starhill Global REIT (SGREIT) is a Singapore-listed REIT that owns a portfolio of 10 malls and office buildings located in Singapore, Malaysia, Australia, China and Japan. As at 30 June 2018, its portfolio was valued at S$3.1 billion. SGREIT has been in my portfolio for a number of years now and given me a positive overall return despite its share price falling 12.8% year-to-date. This is largely due to the steady dividends I’ve received thus far. However, SGREIT’s distributions per unit (DPU) have been falling the past two years from 5.18 cents to 4.55 cents. This is worrying as...

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A quick summary of the Trump trade war and how it could affect your stock portfolio

­­During his presidential election, Donald Trump pledged to ‘Make America Great Again.’ He promised to boost economic growth and ‘be the greatest job-producing president in U.S. history’. To do that, he needs to create more than 21.5 million jobs in eight years if he plans to beat record-holder, Bill Clinton. To bring jobs back to America, Trump recently renegotiated the North American Free Trade Agreement (NAFTA) which is now set to be replaced by the United States-Mexico-Canada Agreement (USMCA). The agreement will affect a range of industries, but the biggest changes are in the automotive industry. Automakers have to...

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8 things I learned from the 2018 Silverlake Axis AGM

I received many requests from our readers to share my takeaways from the latest 2018 Silverlake Axis annual general meeting, so I decided to take some time to pen them down here. This year’s AGM is slightly shorter, and certainly less dramatic, than the annual meeting last year, but I hope my pointers will still give you more insights into Silverlake Axis. Over the last 30 years, Silverlake Axis has built and maintained the core banking systems of banks and financial institutions around the region. Forty percent of the 20 largest banks in Southeast Asia are clients of Silverlake...

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Warren Buffett used this one strategy to ‘kill the Dow’ and earn the highest returns of his career

Most people recognise Warren Buffett as the most successful exponent of value investing. And with good reason too – Buffett is currently the third richest man in the world and his holding company, Berkshire Hathaway, has seen its per-share book value grow from $19 in 1964 to $211,750 in 2017, a rate of 19.1% compounded annually over 53 years. Buffett today is well-known for investing in high-quality companies with wide economic moats like Apple, Coca-Cola, and American Express. He looks for companies with strong brands, a dominant market position, and sustainable growth in earnings — so the company will...

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14 things to know about Padini Holdings before you invest (updated 2018)

Padini Holdings Berhad is a fashion retail conglomerate which owns nine household brands in Malaysia. They include Padini, Padini Authentic, P&Co, PDI, Miki, Brands Outlet, Vincci and Vincci Accessories. Collectively as a group, Padini markets its merchandise in over 200 locations across 10 countries. In this article, I’ll bring an update on Padini’s financial results and introduce a few valuation metrics to assess its current stock price. Here are 14 things you need to know about Padini Holdings before you invest. Padini subsidiaries 1. Yee Fong Hung remains the largest revenue contributor to Padini, accounting for 38.4% of group...

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Is Cortina Holdings a net-net stock worth looking at right now?

Cortina Holdings is a distributor and retailer of luxury watches like Rolex, Patek Phillipe, and Tag Heuer. Established in 1972, Cortina has now grown to 28 outlets in Singapore, Malaysia, Thailand, Hong Kong, and Taiwan. Since its peak in September 2018, Cortina’s share price has fallen 12% to 95 cents currently: As I was going through Cortina’s latest financial statements, something jumped out at me – the company’s net current assets are worth more than its entire market capitalisation right now. Net-net investing Net-net investing was developed by Benjamin Graham (the mentor of a certain Warren Buffett) who preached...

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6 things to know about Haidilao before you invest

On 26 September, Chinese hotpot chain Haidilao (HDL) shares debuted on the Hong Kong Exchange and climbed as much 10% on its first trading day. The initial public offering (IPO) raised nearly US$1 billion for the company. To be honest, I’ve patronised HDL quite often since it entered Singapore many years ago and their truly exceptional service level is one of the reasons behind my repeated visits. You could say that I am a fan of HDL, but as an investor I have to remain unbiased and objective when analysing a company. We received several emails from our readers...

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Temasek retail bond: 5 things to know before you invest in the T2023-S$ bond

Back in June, Temasek’s wholly-owned subsidiary, Azalea Group, offered the Astrea IV bond to retail investors in Singapore. The bond was the first ever private equity backed-bond to be listed here. This week, Temasek once again broke new ground with the T2023-S$ bond offer — it is the very first time that Temasek bonds are open to retail investors in Singapore, which was previously available only to institutions and accredited investors. For those who don’t already know, Temasek Holdings is a private investment company fully-owned by the Singapore government that manages a portfolio of assets worth S$308 billion (as...

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How we made 59.4% returns (and growing) investing in Dairy Farm International

I know the title of this article sounds a like a boast but if you bear with me and read the article to the end, I’ll reveal the investment thought process that led to why we decided to buy and, subsequently, sell our stake in Dairy Farm International. History Back in October 2015, I publicly presented my analysis on Dairy Farm International at InvestX Congress. Those who attended the live event would have learnt that Dairy Farm has a deep history stretching back as far as 1886. The company began selling cow’s milk as founder Sir Patrick Manson realised...

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