Author: The Fifth Person

8 things to know about F&N Holdings Berhad before you invest

Fraser & Neave, Limited (F&N) (SGX: F99) is among the oldest companies in Southeast Asia. Its roots can be traced back to 1883. In that year, John Fraser and David Chalmers Neave formed the Singapore and Straits Aerated Water Company to venture into the aerated water business. It was also to diversify from their printing business under the Singapore and Straits Printing Office. Years later, in 1898, the two partners formed a new public company known as Fraser & Neave, Limited. The two businesses were then sold to their newly-formed company. In the 1930s, F&N had started to be...

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7 things to know about Eco World Development Group

Just a few years ago, if you have asked around Malaysia who are some of the largest property developers in the country, you would have never heard of Eco World Development Group Berhad (Bursa: 8206). Yet, since its reverse takeover of Focal Aims Holdings Berhad on Bursa Malaysia back in 2013, Eco World Development has grown into one of the largest property developers in the country with an estimated land bank of more than 8,000 acres in Malaysia. The company is also one of the fastest growing companies on Bursa Malaysia today, having seen its revenue grew from just...

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11 things you need to know about ComfortDelGro before you invest

It was just a dinner.  Or was it? The year was 2001. Two friends, Lim Jit Poh and Kua Hong Pak, met up for some sushi and sake at Unkai, a Japanese restaurant at the now-defunct ANA hotel in Nassim Hill. The meeting was kept a secret as it was more than casual. Little did anyone know that a simple dinner was the birth of one of the largest land transport conglomerates in the world. So, who are Lim and Kua? Back then, Lim was the chairman of Comfort Group. It was rich in cash reserves and had the...

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When to buy a stock: The 3 best times to buy stocks at a discount

If you study the Investment Quadrant, you realise that selecting a good company is only part of the equation. The final step is to buy a stock only when it’s trading at a low valuation. Remember, a good company can still be a bad investment if you overpay for it. So knowing when to buy a stock cheap is just as important as picking the right company if you want to earn good returns in the stock market in the long run. So when are the best times to buy stocks at a discount? Here are three scenarios I...

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10 things I learned from the 2017 AEON AGM

AEON has been my family’s favourite retail chain for the last couple of years as an all-in-one stop where we can purchase almost anything under one roof, even furniture! (Under its trademark Index Living Mall.) AEON runs departmental stores and supermarkets within it its own premises or as an anchor tenant in other malls (like at Mid valley Megamall). As at 31 December 2016, AEON operates 33 department stores and supermarkets spread across Peninsular Malaysia. It also manages three Max Value stores, three Index Living Malls, 48 Wellness pharmacies, and 39 Daiso bargain stores. I attended the AGM this...

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How to invest your CPF: 5 things you need to know

The Central Provident Fund (CPF) is a government savings scheme that requires Singaporeans and permanent residents to save 20% of their salary to fund their retirement, healthcare, and housing needs. The CPF pays an interest of 2.5% for savings in the Ordinary Account (OA) and 4% for savings in the Special Account (SA), Medisave Account and Retirement Account. An extra 1% interest is paid on the first $60,000 of your combined balance (including up to $20,000 from your OA). Most Singaporeans use their CPF to buy their homes but only a few know how to invest your CPF in...

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12 things I learned from the 2017 AmFIRST REIT AGM

AmFIRST REIT is a Malaysian commercial REIT with a portfolio of nine properties located in Klang Valley, Cyberjaya, Melaka, and Penang. As at 31 March 2017, its total net lettable space is 2.9 million square feet (excluding Summit Hotel). In 2016, AmFIRST REIT disposed the Ambank Group Leadership Centre (AGLC) to generate a one-off gain of RM12.2 million. AmFIRST REIT’s average annual return since its listing in 2006 is 6.02%. 2016 was a significant year for AmFIRST as it marked its 10th anniversary of listing on Bursa Malaysia. However, 2017 was another challenging year for AmFIRST due to an...

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The Asia Report Episode 2: “The ebbs and flows of the property cycle”

Ronnie Chan is chairman of Hang Lung Group and Hang Lung Properties. For more than 25 years, he has personally penned the shareholder letters. Under his guidance, Hang Lung successfully navigated the Asian Financial Crisis and emerged as one of the largest property conglomerates in Hong Kong. Listeners will find his commentary (written without the benefit of hindsight) especially useful in understanding the ebbs and flows of the property cycle. The insights gleamed from his letters has greatly improved my understanding, and it’s a pivotal part of my investment framework when it comes to looking at both property and property...

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8 things you need to know about MyEG Services

If you think about great investments in the past on Bursa Malaysia, companies like Public Bank, Dutch Lady Malaysia and Heineken Malaysia come to mind. These companies have returned its long-term shareholders many times their investments. In fact, a company like Dutch Lady Malaysia has returned about 130 times for its investors over the past 25 years! However, if I think about some of the more recent successes on Bursa Malaysia, the most obvious company has to be MyEG Services Berhad (Bursa: 0138). The company was only listed in 2007 and over the last 10 years has returned more...

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4 things you need to know about Singapore Press Holdings before you invest

Singapore Press Holdings (SPH) is Singapore’s oldest newspaper and media organization that holds a monopoly in the country. In our current era, technological disruption is inevitable: SPH’s most recent nine-month financial results further prove the challenges the company is facing when they reported an 8.4% decrease in revenue and a 31.9% decrease in profit. Investors can expect SPH to continue to face disruption in its industry moving forward. The good news is SPH noticed the trend years ago and made the move to diversify its business early. However, I personally think the speed of disruption was faster than expected...

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12 things we learned from the 2017 Hartalega AGM

To date, Hartalega is one the largest glove companies in the world with a market capitalization exceeding RM11 billion. Hartalega’s share price has appreciated over 22 times since its IPO, from RM0.30 (adjusted for bonus share issues) to its current price of RM6.70 as at 11 September 2017. Hartalega sets the benchmark with the world’s fastest and most efficient production lines in the glove industry producing 45,000 pieces of gloves per hour. In addition, they are the largest nitrile glove producer in the world with a total production of 27 billion gloves per year. They also export to more...

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How to start investing in Singapore: A practical guide for beginners

It’s close to 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 then 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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12 things you need to know about QL Resources before you invest

QL Resources Berhad (Bursa: 7084) listed on Bursa Malaysia in 2000. At that time, it was principally a livestock feed trading company. QL was an obscure figure to most investors residing in the Klang Valley. This is because most of its assets were located in Sabah and Sarawak which is far away from the hustle and bustle of the capital market in Malaysia. Ever since, QL has grown tremendously. It is now a multinational agro-food corporation with three main business divisions. QL is involved in marine products manufacturing, integrated livestock farming, and palm oil plantations and milling activities. As...

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3 lessons learned from Rusmin Ang at InvestX Congress 2017

If anyone told you he or she knew exactly what is going to happen in the stock market over the next few days, months or even years, do yourself a favour and stay away from that person. That was one piece of advice from Rusmin Ang’s talk that stuck out the most for me at InvestX Congress 2017, a quasi-annual event The Fifth Person held on 19 August this year. Rusmin is the Co-Founder of The Fifth Person, a team of individuals who believe in the importance of providing no fluff content and research to retail investors and helping them make...

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The Asia Report Episode 1: “There They Go Again… Again”

I am a huge fan of Howard Marks, founder of Oaktree Capital. He’s been penning with memos over the last three decades and they are always a great read. His latest memo is titled “There They Go Again… Again” — a memo heeding caution for investors. It’s probably worth mentioning that he’s much more US centric which explains his viewpoint. Reading through it, I could not help but think about the recent boom and bust in the oil and gas sector in Singapore. There are still plenty of lessons to learn from the entire cycle – and its worth reflecting...

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