Portfolio 2019

I find that writing a year end result isn't so important, should take the time to research or rest instead, let the result show in 5 to 10 years.  It has been 4+ years since I started the investing journey. So let's do a quick one. Value/Growth/Income Portfolio (SG/HK/US) 2015 - Started investing after my first book, first stock is keppel so yeah GG 2016 - Read more books. End...

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Accordia Golf Trust Got An Offer Price

Accordia Golf(AG) offered Accordia Golf Trust (AGT) JPY$63,167 Million (S$780 Million) for all interest of its golf courses, including debts.  This amount to 71 cents per share. Initially, myself and the online committees were expecting a delist of 80 cents to a high to 120 cents or more and this feel like a low ball offer. However, the offer is regard to the golf courses and not an offer...

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Revisiting First Reit: There Is Still Fear

PT Lippo Karawaci Tbk has 5.2 Trillion Rupiah or $500 million SGD in cash left after their issued rights, last reported 9 month to 2019.  How about Siloam Hospital? Net profit has jumped back up with 50% increase in operating cash flow (OCF) to $357 Billion Rupiah. Capex is at 4 year low with low debt. Things is looking good. However cash flow use for investing is more than OCF. First...

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Accordia Golf Trust Buyout: Various Signs And Estimates

Some of things I found digging around show most likely the buyer is the parent company of Accordia Golf Trust (AGT). Impairment of Good will The Buyout came after 2 Quarters since the impairment of goodwill. The reason to impair othe goodwill is weird. I have no idea why they would do it after IPO for so long, reducing NAV, dustruption is common for their asset (reason can be read here) . Although...

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Income Portfolio boost by Merger & Buyout

My Income Portfolio has grown really well this year, noticeable is VICOM, Perfect Shape, Valuetronics. The biggest contributor is however Ascendas Hospitality Trust which was 25% of the portfolio which I divested in august. Hence taken its place is Accordia Golf Trust (AGT) at 27% of current portfolio. It was recently announced to have a buyer of all its golf courses. Although it is a good news,...

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When You Think a Stock Is Expensive

Starting the journey in Singapore and in income stocks and venturing out to Hong Kong then US. I am still adapting to buying growing business in the PE range above 20x. My only ones is Ulta Beauty.  I just made a quick look at Shanghai Airport. Remember my post on Beijing Airport 2018. Shangai International Airport then in 30th OCT 2018, was 28.3x PE, now is at 29.5x PE but...

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Book Summary – The Little Book of Value Investing by Chris Browne

Summary from (Source) Chapter 1 : : Buy stocks on sale. The basic concept of Value Investing is “Buying a business for far less than it is worth”. Value investing is not a set of hard and fast rules. When prices drop, people buy more of the things they want and need, except in the stock market. Everyone seems to think that they should buy stocks that are rising and sell those that...

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Causal Dining, Social Palace Singapore by Tang Palace

When I read that in Tang Palace Interim report that they will be opening one in Singapore this year, I am intrigued. You can read about my last post & analysis about Tang Palace here. The place is located in FORUM The Shopping Mall, Orchard Rd, #01-22. The mall is like a ghost town at 8.30pm, unlike the main streets of Orchard road. Not a wise place with a low footfall to set up shop? However...

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