Author: The Fifth Person

7 things I learned from the 2018 Mapletree Commercial Trust AGM

Mapletree Commercial Trust (MCT) is an SGX-listed REIT that owns a portfolio of retail and office properties in Singapore. As at 31 March 2018, MCT’s property portfolio was valued at S$6.7 billion. As an MCT unitholder, the REIT has given me steady dividends and capital gains over the last few years, driven mainly by the consistent performance of VivoCity and the acquisition of Mapletree Business City I (MBC I). I attended MCT’s annual meetings in 2016 and 2017 where the management reported solid growth and  a strong set of results each time. Will it be third time lucky this...

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12 things to know about Hartalega before you invest (updated 2018)

Last year, I wrote an article on Hartalega Holdings Berhad when nitrile glove manufacturer had a market capitalization of RM11.7 billion. Today, Hartalega has a market capitalization of RM20.2 billion, a remarkable growth of 72.6% over the last 12 months. Hence, it remains amongst the top three largest rubber glove manufacturers in the world. In this article, I’ll bring an update on Hartalega’s financial results, its ongoing development of its Next Generation Integrated Glove Manufacturing Complex (NGC), and introduce a few valuation metrics to assess Hartalega as an investment at its current stock price. Here are 12 things you...

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5 things I learned from the 2018 Singtel AGM

Three years ago, I attended Singtel’s 2015 annual meeting to find out more the management’s response to the possible entry of a forth telco in Singapore. Since then, Australia’s TPG has been confirmed as the newest telco and the local telco industry has changed drastically with competition intensifying among the current players. Singtel’s regional associate, Bharti Airtel, also faces increasing competition in its home market in India. With this, I decided to Singtel’s AGM this year to glean new insights from the management about the company and the telco industry. Here are five things I learned from the 2018...

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13 things to know about Mapletree Industrial Trust before you invest

Mapletree Industrial Trust (MIT) is a REIT that owns a portfolio of industrial properties including flatted factories, hi-tech buildings, business parks, and light industrial buildings. As at 23 April 2018, MIT’s portfolio was valued at S$4.3 billion. In this article, I’ll bring an overview of MIT’s full-year performances since its IPO and an update on its growth plans for the near future. Here are 13 things you need to know about Mapletree Industrial Trust before you invest. Track record 1. MIT has achieved a CAGR of 10.2% in valuation of its portfolio over the past seven years, from 70...

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Facebook plunged 18.96% and erased US$120 billion in value in one single day… what’s next?

Whenever you’re bored and your mind is on idle, you can’t help but to reach out to that f-letter word on your phone. It’s an escape, a place where you get your daily dose of news, entertainment, and interactions with your friends and family. This is not only the place that your loved ones get to know more about you, it’s also the perfect place for advertisers to target you based on your demographics, interests, and behaviors. I’m sure you know what the ‘f’ I’m talking about by now — Facebook. So far, it hasn’t been a smooth sailing...

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10 things I learned from the 2018 Mapletree Logistics Trust AGM

Mapletree Logistics Trust (MLT) is Singapore’s first Asia-Pacific focused logistics real estate investment trust with a portfolio of 124 properties in Singapore, Hong Kong, Japan, Australia, South Korea, China, Malaysia and Vietnam. As of 31 March 2018, MLT’s portfolio was valued at S$6.5 billion. Here are 10 things I learned from the 2018 Mapletree Logistics Trust AGM: 1. Gross revenue rose 5.9% year-on-year to $395.2 million while net property income increased 6.9% to S$333.8 million. The results were attributed to improved performance of existing properties, the acquisition of Mapletree Logistics Hub Tsing Yi and the remaining 38% stake in...

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13 things to know about Mapletree Logistics Trust before you invest

Mapletree Logistics Trust (MLT) was listed on 28 July 2005 as the first Asia-focused logistics REIT in Singapore. The REIT owns logistics real estate located in Singapore, Hong Kong, Australia, China, Japan, Korea, Malaysia, and Vietnam. As at 31 March 2018, MLT was valued at S$3.76 billion in market capitalization. In this article, I’ll give you an overview of MLT’s performance over the last 10 years and an update on its growth plans for the near future. Here are 13 things you need to know about Mapletree Logistics Trust before you invest. Track record 1. MLT has achieved a...

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7 things I learned from the 2018 Singapore Post AGM

2017 was a tumultuous year for Singapore Post (SingPost) as it suffered a S$185 million impairment loss on TradeGlobal amid accusations of serious lapses in corporate governance surrounding the acquisition of the e-commerce provider. The previous board, except for two directors, was removed and a new CEO was appointed after the incident. At the 2017 annual meeting, the new management team took pains to handle the fallout from the acquisition and set plans to turn the company around. So this year I’m back at the AGM to observe how the turnaround plans have (or haven’t) panned out. Here are...

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8 things I learned from the 2018 Mapletree North Asia Commercial Trust AGM

On 25 May 2018, Mapletree Greater China Commercial Trust was renamed Mapletree North Asia Commercial Trust following the completion of the acquisition of six freehold office properties located in Japan. Mapletree North Asia Commercial Trust (MNACT) now owns nine retail and office properties located in Hong Kong, Beijing, Shanghai, Tokyo, Chiba, and Yokohama. As of 31 March 2018, its portfolio was valued at $6.3 billion. We’ve been to the REIT’s annual meetings previously in 2015, 2016, and 2017. This year, I wanted to know more about the management’s rationale investing beyond Greater China into Japan, and to evaluate the...

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The Fifth Person wins best independent investment website at SGX Orb Awards

The Fifth Person is honoured to have won best independent investment website in the ‘GoTo.com’ category at the inaugural SGX Orb Awards organised by the Singapore Exchange (SGX). The award recognises the independent investment-related website or financial blog that most empowers investors to make educated decisions with their money. The Fifth Person chief editor, Adam Wong, received the award from SGX CEO Loh Boon Chye at the annual Media Appreciation Night held on 19 July in Singapore. Award winners from five other categories at the event included CNBC, Channel NewsAsia, The Straits Times, The Business Times, and The Edge....

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Frasers Commercial Trust has posted 4 consecutive quarters of falling revenue, what next?

Frasers Commercial Trust (FCOT) is a Singapore-listed REIT that owns office buildings and business parks located in Singapore, Australia, and the UK. After FCOT posted its Q2 2018 results on 20 April, its share price fell from $1.48 to a low of $1.35 on 21 May – a drop of 8.9% over a matter of weeks. In this article, I’ll share the cause of FCOT’s fall in share price and whether it’s still able to deliver sustainable distributions to unitholders in the near future. Here are five things to know about Frasers Commercial Trust before you invest: 1. Four...

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12 things to know about Jardine Matheson before you invest

Jardine Matheson Holdings Limited (SGX: J36) is a conglomerate with multiple business interests located across the Asia-Pacific. Presently, it derives income from the following subsidiaries: 100% shareholding of Jardine Pacific 100% shareholding of Jardine Motors 84% shareholding of Jardine Strategic (SGX: J37) As I write, Jardine Matheson is amongst the top 30 constituents of the Straits Times Index and is worth US$23.6 billion in market capitalization. For this article, I’ll bring an overview of each of Jardine Matheson’s subsidiaries over the last 10 years, the group’s financial results, and provide an update on its newest acquisitions made in 2017...

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8 things I learned from the 2018 First REIT AGM

First REIT is a Singapore healthcare real estate investment trust (REIT) that invests in healthcare and healthcare-related real estate assets throughout Asia. Managed by Bowspirit Capital Corporation Limited, the REIT has a portfolio of 20 properties across Asia: 16 properties operating under the Siloam Hospitals Group in Indonesia, three nursing homes in Singapore, and a hospital in South Korea. As of 31 December 2017, First REIT has S$1.35 billion in assets under management. This year, there was a change in leadership. Chairman Albert Saychuan Cheok and chief executive officer Dr Ronnie Tan retired after many years of service and...

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