Author: The Fifth Person

10 things we learned from the 2018 Top Glove AGM

Top Glove Corporation is the world’s largest manufacturer of rubber gloves. Its range of gloves include latex powdered gloves, latex powder-free gloves, nitrile gloves, vinyl/TPE/ CPE glove and surgical gloves. The company operates in Malaysia, Thailand, China, Europe and the U.S. and exports its products worldwide to 195 countries. Top Glove was established on 1991 and is dual-listed on Bursa Malaysia (IPO in March 2001) and the SGX (June 2016). If an investor bought 1,000 shares during Top Gloves IPO price of RM2.70, he would be sitting on a return of 7,465% in January 2018! Not taking into account...

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Dividend payout ratio – and why it’s more important than a high dividend yield

If you love income stocks that pay a high dividend yield, then you ought to know about this one important ratio – the dividend payout ratio. The dividend payout ratio is the percentage of a company’s profit that is paid out as dividends to shareholders. For example, if a company earns one million in profit and pays $500,000 as dividends, then its dividend payout ratio is 50%. The dividend payout ratio go can also go above 100%. So if a company earns a million and pays out $1.2 million, its ratio is 120% — which essentially means it paid...

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7 things I learned from the 2018 Frasers Hospitality Trust AGM

Frasers Hospitality Trust (FHT) is a stapled trust comprising Frasers Hospitality REIT and Frasers Hospitality Business Trust. FHT owns a portfolio of 15 hotels and serviced residences located across nine cities in Asia, Australia, and Europe. As of 31 December 2017, FHT’s portfolio was valued at S$2.16 billion. I attended FHT’s annual general meeting to find out more about the Trust’s past financial year’s performance and its outlook for the year ahead. Here are seven things I learned from the 2018 Frasers Hospitality Trust AGM. 1. Gross revenue increased 28.4% year-on-year to S$158.7 million and net property income (NPI)...

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Key things to know about Frasers Hospitality Trust from its IPO to now

Frasers Hospitality Trust (FHT) (SGX: ACV) was listed on the SGX on 14 July 2014. It is a trust established to invest in hotels and service residences located in prime locations worldwide. As at 31 December 2017, FHT has a portfolio of 15 properties worth S$2.16 billion. In this article, I’ll cover FHT’s developments since its listing, its financial results, and discuss its plans towards the immediate future. Here are the key things you need to know about Frasers Hospitality Trust before you invest. Initial portfolio FHT was listed with an initial portfolio of 12 properties worth S$1.67 billion....

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10 things I learned from the 2018 Frasers Centrepoint Trust AGM

Frasers Centrepoint Trust (FCT) (SGX: J69U) is a retail REIT that owns six malls located in suburban Singapore: Causeway Point, NorthPoint City North Wing, Anchorpoint, Yew Tee Point, Bedok Point, and Changi City Point. As at 30 September 2017, FCT’s total portfolio was valued S$2.67 billion. Since its listing in 2006, FCT has maintained a solid reputation as a well-managed REIT that pays a stable dividend even during tough retail or economic circumstances. As a matter of fact, FCT has an enviable 11-year track record of paying a growing dividend every year. With this in mind, I decided to...

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10 things I learned from the 2017 MyEG Services AGM

MyEG Services (Bursa: 0138) is involved in the development and implementation of electronic channels for various government services. These include renewal of road tax and motor insurance, issuance/renewal of drivers’ licenses, payment of traffic fines, renewal of foreign workers’ work permit and insurance, collection of zakat, and more. It is like Malaysia’s ‘online government department’. We attended the most recent MyEG Services AGM to find out more about its performance for the past financial year and to suss out the management better. In addition to the AGM, the company also held an EGM to obtain shareholders’ approval for the...

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10 things I learned from the 2018 Frasers Commercial Trust AGM

Frasers Commercial Trust (FCOT) (SGX: N28U) is an office REIT that owns six properties located in Singapore and Australia. As of 30 September 2017, its portfolio was valued at S$2.1 billion. In Dec 2017, FCOT entered a 50:50 joint venture with its sponsor, Frasers Centrepoint Limited (FCL) to purchase Farnborough Business Park for £174.6 million (approximately S$314.8 million). The property is a 46.5-hectare freehold business park comprising 14 commercial buildings with a total net lettable area of 555,000 square feet located west of London, UK. The acquisition is expected to be completed January 2018. Since its IPO, FCOT had...

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5 things you need to do if you keep losing money in the stock market

Occasionally, I get questions from investors who ask: “Victor, I have been investing for many years, but I keep losing money in the stock market. What should I do?” That’s a good question. But when I take a look at their stock portfolios, they usually own more than 50(!) companies and the majority of them are companies with weak business models and poor fundamentals that were usually bought based on recommendations by friends or brokers. I was fortunate, together with Rusmin, that during our early years of investing, we were tasked to turn around a stock portfolio that was...

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14 things to know about Frasers Commercial Trust before you invest

Frasers Commercial Trust (SGX: ND8U) is a Singapore REIT that invests in a portfolio of commercial office properties. As at 30 September 2017, it has six properties located in Singapore and Australia valued at S$2.1 billion. In this article, I’ll bring a detailed account of Frasers Commercial Trust’s developments since its listing, the individual performances of its existing properties so far, their impact on the group’s financial results and updates on Frasers Commercial Trust’s plans for the future. Therefore, here are the 14 things you need to know about Frasers Commercial Trust before you invest. Portfolio reshuffling 1. Frasers...

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Singapore tax deductions and rebates you probably didn’t know you could get

The tax system in Singapore is quite straightforward. Unlike many other countries, you don’t need to pay a trained accountant to identify all the ways to optimise your income. However, this can also be a flaw. Many Singaporeans don’t pay attention to the Singapore tax deductions and rebates available to them. Here are some commonly missed ones: 1. Parenthood Tax Rebate The Parenthood Tax Rebate (PTR) is one of the many initiatives used to encourage Singaporeans to have more children. For any child born or adopted on or after 1 January 2008, the rebate is $5,000 for the first...

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11 things to know about Frasers Centrepoint Trust before you invest

Frasers Centrepoint Trust (FCT) (SGX: J69U) is a REIT that invests in retail malls located in Singapore. It was listed on 5 July 2006 with three retail malls valued at S$915 million in its initial portfolio. Since then, FCT has enlarged its portfolio to six retail malls worth S$2.67 billion as at 30 September 2017. In this article, I’ll bring a detailed account of the individual performances of FCT’s properties, their impact to FCT’s group financial results, the potential risk it faces and provide updates on FCT’s overall portfolio to assess whether it is capable of delivering sustainable distributions...

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3 things you need to do when your stock’s price falls 30%-50% (or more…)

One of the most frequent questions I get from readers is what to do when a stock’s price falls 30% to 50% and whether they should buy more, continue to hold, or sell to cut their losses. Tough choice… which is why it’s important to have a systematic and logical investment process to evaluate your investments if/when such an event happens. So if you’re faced with this dilemma and you’re not sure what to next, here’s the three-step process I always use when one of my stock has fallen by 30% to 50%, or by any significant amount for...

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13 things to know about Padini Holdings before you invest

Padini Holdings Berhad (Bursa: 7052) is a Malaysian fashion retail conglomerate that owns nine fashion labels familiar which are household brands in Malaysia. They include Padini, Padini Authentics, SEED, P&Co, PDI, Miki, Brands Outlet, Vincci, and Vincci Accessories. As of 2 January 2018, Padini Holdings Berhad is worth RM3.4 billion in market capitalization. Padini is one of the many homegrown success stories from Malaysia. It all started with Mr. Yong Pang Chaun in the 1960s. He worked for a textile merchant in Singapore as soon as he finished secondary school. A few years later, in 1971, Yong returned to...

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How to start investing in Singapore: A practical guide for beginners (updated 2018)

It’s been over four years now since we founded The Fifth Person. In that period, we’ve shared our investment insights and analysis, published hundreds of articles, and written about how anyone can achieve financial independence through prudent and long-term investing. Along the way, we’ve received several emails from readers who wanted a practical guide on how to start investing in Singapore. This was when we realised that while a blog is a great way to share our research and insights in a timely manner, it’s not the best way to organise information about a topic in a practical, step-by-step...

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