Author: The Fifth Person

Investment Quadrant 2019 is LIVE!

The Investment Quadrant is our most comprehensive training course to date. And I can genuinely tell you that this course covers more depth than other courses out there that charge you thousands of dollars. It’s made for smart and serious people like you who really want to learn the ropes about investing without all the “feel-good” hype, fluff or noisy ra-ra. First, in order for you to join as a member and get permanent access to the Investment Quadrant, it is a one-time investment of US​​$39​7/-. This covers all the time and resources invested to put this course together (which includes...

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15 things to know about CapitaLand Mall Trust before you invest (updated 2019)

Listed in July 2002, CapitaLand Mall Trust (CMT) is the first and the largest retail REIT to be listed on the SGX. It derives income from a portfolio of 15 retail malls worth S$11.1 billion located across Singapore. I recently received its latest 2018 annual report and in this article, I’ll give an update on CMT’s latest financial results, growth plans, and valuation. Here are 15 things to know about CapitaLand Mall Trust before you invest: Portfolio 1. CMT achieved a compound annual growth rate (CAGR) of 5.4% in its portfolio valuation for the last 10 years, from S$6.9...

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10 things I learned from the 2019 Eco World Development Group AGM

Eco World Development Group Berhad (EcoWorld Malaysia) is well-known for its township development in the suburbs of Klang Valley. It owns a 27% stake in Eco World International Berhad (EcoWorld International) that is also a listed company in Malaysia. As a relatively young company that is operated by an experienced team, it managed to hand over 4,700 residential homes, commercial units, and industrial factories to customers in 2018, bringing its total completed units close to 10,000. Along with other property players, EcoWorld Malaysia faced headwinds since incorporating in 2013. They were hit with a number of property cooling measures...

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5 reasons why you shouldn’t buy a stock just because a big-name investor owns it

Recently, I read with some amount of sympathy about the retail investors who lost money investing in Hyflux perpetual securities. For some of them, they lost six-figure sums and hard-earned money meant for their retirement. For one particular couple who lost over $100,000, The Straits Times reported that the reason why they decided to invest in the ill-fated perpetuals was because Temasek had invested in Hyflux itself. This prompted the national investment fund to release a statement saying that it had exited its investment in Hyflux since 2006 – more than 13 years ago. I like to believe that...

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5 reasons why you shouldn’t buy a stock just because a big-name investor has

Recently, I read with some amount of sympathy about the retail investors who lost money investing in Hyflux perpetual securities. For some of them, they lost six-figure sums and hard-earned money meant for their retirement. For one particular couple who lost over $100,000, The Straits Times reported that the reason why they decided to invest in the ill-fated perpetuals was because Temasek had invested in Hyflux itself. This prompted the national investment fund to release a statement saying that it had exited its investment in Hyflux since 2006 – more than 13 years ago. I like to believe that...

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8 things I learned from Mastercard’s Q4 2018 earnings call

I’m sure everyone knows about Mastercard; we all practically have one in our wallets. I mean, what choice do we have right? We’re practically stuck with the ‘holy trinity’ of credit cards — Visa, Mastercard, or American Express — for now. (Although Union Pay may threaten this in the future.) Mastercard is a great example of a ‘toll operator’ business. The company is paid a transaction fee from the issuer (your bank) and the acquirer (your merchant’s bank) every time a sale is made. In 2018 alone, Mastercard processed over US$5.9 trillion worth of transactions worldwide. Inflation has no...

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5 things I learned from the 2019 LPI Capital AGM

LPI Capital sells and distributes premier general insurance in Malaysia, Singapore and Cambodia by ‘providing personal, project, and operational coverage for both individuals and commercial entities’. It was incorporated as a private limited company in 1962 and listed as a public company in December 1972. LPI has been helmed by founder and chairman Teh Hong Piow, the third richest man in Malaysia, for more than 40 years. He received a round of applause when he entered the meeting hall at LPI’s 2019 annual general meeting. Shareholders showed a sense of respect to the board of directors and management partly...

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8 things I learned from the 2019 Soilbuild Business Space REIT AGM

Soilbuild Business Space REIT is an industrial REIT that currently owns three business park properties and ten industrial properties, located in both Singapore and Australia. As of December 2018, the REIT has a net lettable area of 4.03 million square feet, leasing its properties out to a total of 115 tenants. Based on Soilbuild REIT’s current stock price of 62 cents and its 2018 distribution of 5.28 cents, Soilbuild REIT is rewarding unitholders with an impressive 8.6% yield — the highest among Singapore industrial REITs. At the same time, Soilbuild REIT is trading within 10% of its historical lows....

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10 things to know about Hong Leong Financial Group before you invest

Listed in 1969, Hong Leong Financial Group Berhad (HLFG) has established itself as one of the largest integrated financial conglomerates in Malaysia. It has three main businesses: banking, insurance, and wealth management services. As at 2 April 2019, HLFG is worth RM21.8 billion in market capitalization . It is among the 30 largest corporations listed on Bursa Malaysia and a constituent of the Bursa Malaysia KLCI Index. In this article, I’ll bring a detailed account of HLFG’s track record over the last 10 years, and provide an update on its latest financial results and valuation. Here are 10 things...

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10 things I learned from The Little Book of Value Investing by Christopher H. Browne

When it comes to books on investing, The Little Book of Value Investing is often cited as a great introductory book for someone who’s looking to learn more about the concept of fundamental analysis and value investing. The author of the book, Christopher H. Browne, was a well-known value investor and partner of the investment firm Tweedy, Browne Company LLC – which counted legendary investors like Benjamin Graham, Walter Schloss, and Warren Buffett as clients when it was still operating as a brokerage firm before the 1950s. The Little Book of Value Investing does an excellent job of encapsulating...

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10 things I learned from the 2019 MYEG AGM

MY E.G. Services Berhad (MYEG) is a home-grown technology company that has been listed on Bursa Malaysia since 2007. It provides a wide variety of electronic government and commercial services including renewal of foreign worker work permits, road tax renewals, and auto financing. MYEG also runs MyMotor – an online car marketplace. MYEG had been an analyst and investor favourite for many years as its share price rose precipitously from 2013 to 2018. However, its share price plunged more than 70% after the 2018 Malaysian general election to hit a low of RM0.66 at one point, from RM2.58 just...

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14 things to know about CapitaLand Commercial Trust before you invest (updated 2019)

Listed on 11 May 2004, CapitaLand Commercial Trust (CCT) is the largest office REIT in Singapore. It owns and derives income from a portfolio of 10 properties worth S$10.6 billion as at 31 December 2018. I recently received CCT’s latest 2018 annual report. Thus, I decided to write an update of CCT’s latest financial results, its plans to sustain growth in the near future, and its current valuation metrics. Here are 14 things to know about CapitaLand Commercial Trust before you invest. Portfolio 1. CCT’s portfolio value has grown at an compound annual growth rate (CAGR) of 7.2% over...

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7 things I learned from the 2019 Wellcall AGM

Established in 1996, Wellcall manufactures rubber houses for six major application markets including air and water, welding and gas, oil and fuel, automobile, ship building, and food and beverage. Owing to its research and development initiatives, Wellcall is able to manufacture a wide range of high-quality rubber hoses through the mandrel or extruded process. The company has a global presence and can count customers from the Middle East, Europe, USA, Canada, Australia, New Zealand, Asia, Russia, Africa and South America. In the past 12 years, Wellcall has demonstrated a notable financial track record with an average ROE of 23.3%....

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IFRS 16: How this new accounting standard will affect companies and your stock investments

In the April 2008 edition of the Empire Club of Canada forum, former chairman of the International Accounting Standards Board (IASB) Sir David Tweedie famously said: ‘One of my great ambitions before I die is to fly in an aircraft that is on an airline’s balance sheet.’ This quote, likely said in a jocular manner, is frequently mentioned in any conversation about IFRS 16 – a new amendment to the International Financial Reporting Standards that radically changes the method in which operating leases are dealt with. Making this point using the airline industry is understandable, given that it is...

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