Search Results for: ipo

A Is For Apple

Apple has overthrown Exxon to be crowned the most valuable public company in the world. The amazing thing is that Apple was close to bankruptcy 14 years ago, and despite the financial turmoil that has been plaguing the world this past 3 years, Apple shares have continued to defy gravity. I remembered that there was even a report that Apple holds more reserves that the US government. What has made Apple so successful that we could learn from this awesome company? Apple’s blast off point was the highly acclaimed hit of the iPod. They marketed it as a status...

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Asia Enterprise Holdings (AEH)–Conservative Steel Stockist.

Asia Enterprise Holdings (AEH) is a steel stockist listed on Singapore Stock Exchange. I first got to know it during its IPO, but I classified it with Telechoice as those Singapore smallcaps that earns 5-7% dividend yield. The thing about these smallcaps is that you do not know whether they would stand up to the test of time. There are many smallcaps that have been in operation for a long time despite its size. Some names are Boardroom, CEI, SinGheeHuat, Telechoice and GRP. You guys might want to take a look at them. The business Steel Stockist like Asia...

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Sabana REIT: Safe to buy now?

Someone who managed to get some units of Sabana REIT at IPO asked me if it is safe to buy more units of the REIT now? Before the counter announced its first income distribution of 3.04c, I blogged about how I felt Sabana REIT was a great investment then. Of course, there were nay sayers and people who told me I was wrong. There were also many who got in at the REIT’s IPO and were burnt, refusing to look at the REIT anymore. There was also a friend who refused to be vested in the REIT simply because it is...

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Personal Finance Part 23 – Functional Versus Status Items

Looking around me daily at Singaporeans around me on buses and the MRT, I have come to realize that possessions do indeed constitute a form of “signalling” to tell others more about yourself. Whether it be branded goods, an iPod or a luxury car, all these material possessions are a way of declaring your financial status, or in some cases, showing off how indebted you really are! I was mulling over this over the last few weeks, and decided to write something on it which is appropriately titled “Functional Versus Status Items”. I will seek to explore items which...

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Hong Kong’s Institutional Investors Are Greater Fools: Prada Update

We last spoke (disapprovingly) about Prada’s IPO where we discussed the fact that only high growth and a greater foolish secondary market could justify the high price. Well, since then Prada did complete its bookbuilding, and more details are emerging. See the Bloomberg coverage: Prada initially sought to sell the shares at HK$36.50 to HK$48, according to the IPO prospectus. The company yesterday narrowed the range to HK$39.50 to HK$42.25 after failing to get orders for half of the 42.3 million shares offered to retail investors, two people with knowledge of the matter said. Prada had enough orders to...

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Hong Kong, Land of the Greater Fool: On Prada

I have refrained from commenting on the HK market as I gathered experience and information sources, but some recent news items lead me to speak out with some measure of confidence today. Please consider Prada IPO Said to Value Company at More Than European Rivals and Prada’s $2.6-billion IPO plan puts it above peers. Hong Kong is a Greater Fool than Italy While Prada is an Italian company, PIIGS-labeled Italy isn’t doing too hot right now, and Asia does account for 40% of Prada’s sales, so there is some plausible story for listing in Hong Kong. But let’s not kid...

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Bad Business Trust Share Performance: HPH Trust and Perennial China Retail Trust

Folks reading this blog would know that I got into HPH during IPO and turns out that this punt fell utterly apart when it crashed from IPO price of USD 1.01 to USD 0.95. Today the price of the business trust reached a new low at 86 cents. Business trust as an investment in Singapore is really about an extreme theme of sponsors dumping assets to investors like me at an obscene price. Reviewing many business trust as compared to dividend stocks and REITs seem to point to a trend where they are unable to keep their share price...

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Hutchison Port Holdings Trust: 86c.

Hutchison Port Holdings Trust (HPH) saw its unit price sinking lower today to close at 86c per unit. This is almost 15% lower than its IPO price of US$1.01 per unit not too long ago. Just like what I did with Sabana REIT when it was newly listed, I used Fibo lines to estimate where are the critical supports for HPH and 86c is where we find the 161.8% Fibo line. If 86c breaks, we could see price hitting 81c as the next strong support using the high of US$1.02 as...

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Lies, damn lies, and statistics!

Recent IPO statistics on the yield: FY 2011 = 5.30% FY 2012 = 5.51% Take at the look at the charts below: http://2.bp.blogspot.com/-t6VFfifwsng/Te8Zeps6u0I/AAAAAAAAADo/l3RDMX5yeBw/s1600/Jared.gif Big growth for the 1st chart? Since I prefer round numbers, the same statistics in my mind graph is as the 2nd chart. The difference between 2011 and 2012 is only 0.21% lah! Is this example similar in our daily lives? You bet! In my work, I always remind my colleagues to round up our Key Performance Indicators (KPIs) to a big round number – don’t create the “illusion” of precision; where none is needed. I am now...

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Perennial China Retail Trust: Weak debut?

On 19 May, I did a relatively lengthy blog post on why I found Perennial China Retail Trust (PCRT) unattractive as an investment. At that time, they were going to price it between 70c to 76c per unit. Ultimately, the trust was offered at 70c per unit, the lowest price in the range, and it was only 1.6x subscribed. The suggestion that the market is not enthusiastic about the IPO is not far off the mark. Today, it closed at 61c or 12.86% lower than its IPO price of 70c. A weak debut? That would be an understatement. Would I...

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GLP versus ProLogis.

I was just reading an article in The EDGE and wonder what this would mean for GLP and its shareholders: “GLP was listed on the SGX last year after it acquired the Japanese and Chinese portfolio of Prologis with the Singapore Government Investment Corp. (GIC) in 2008. “Last December, GLP had to clarify that it did not disclose during IPO that a non-compete agreement with ProLogis was due to expire this February as the deal requires GLP not compete with ProLogis in Japan while ProLogis reciprocally does not compete in GLP’s core market of China. “The clarification was made...

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Perennial China Retail Trust.

Perennial China Retail Trust (PCRT) is focused specifically on shopping malls but with a China focus. Although I am not usually interested in IPOs, I am curious about this one since I have vested interest in CapitaMalls Asia which has a large exposure in China. PCRT has two objectives: 1. Provide unitholders with long-term capital growth from a steady growth in net asset value (NAV). 2. Provide unitholders with regular distributions from the income of its completed and stabilised assets. PCRT will have an initial portfolio which includes: 1. 50% stake in Red Star Macalline Global Home Furniture Lifestyle...

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Wacom Bamboo Fun pen and touch tablet

I got a new tech toy recently – it’s the Wacom Bamboo fun pen and touch tablet. It’s primary function is to serve as an pen and touch input, not unlike a touch screen phone. I’ve been delaying the purchase for a few months, trying to decipher within myself if this is an impulsive buy or something that I really wanted to have. The cost of this is not exactly cheap (retailing at 329 SGD), and with that cost, I could have gotten one of those wifi enabled tablets or even an ipod touch. But I guess I really...

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AIMS AMP Capital Industrial REIT and Sabana REIT.

In life, good and bad things happen. We just have to hope that more good things than bad things happen. If good things happen, we have to know it when we see it and take advantage of them. If bad things happen, we must know to take remedial action and not sink deeper. Easy to say and hard to do? Probably. I believe that a good thing is happening now with Sabana REIT. OK, it is a matter of perspective. For those who bought it at $1.05 a unit at IPO, it might not look good at all. However,...

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Most Popular Posts in April

I have been tracking the most popular articles in each month since the beginning of the year but this is my first write up on it. Just a short commentary which I find rather interesting. The top five articles based on Google Analytics are: Hyflux preference shares Part 1 2,463 page views Mapletree Commercial Trust (MCT) IPO 1,310 page views Hyflux: 6% perpetual Class A preference shares. 1,131page views Hyflux preference shares Part 2 851 page views Hyflux Preference Shares 731 page views Not surprising Hyflux dominated. The traffic in my site surged and so did the authors who...

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