CRCT M&A: Investors are not happy.

Here is a simple calculation if this M&A is DPU accretive. NPI will increase 22.8%, to have a DPU neutral result after a rights or placement. The amount of shares should not increase more than 22.8%, hence not more than 227.66 million shares. Gearing is 35.5% on 31 Dec 2018, assuming a max of 40% gearing, there a $136.53 debt headroom and the divestment of wuhu to be completed...

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Non Income Portfofolio Building: One year On.

One year since looking for great companies, moving away from Reits and SG blue chips, things are not looking good thanks to the trade war. On the this journey, my preference for stock picking is evolving and adapting to what I have learnt, read and experienced. What I thought on day 1 might have changed due to the Marco environment or the change in preference. As the trade war escalate, I decide...

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RED Flag found on Chip Eng Seng

I had made about 19% profit in 2018 for holding for 5mnths since late 2017. Now that I am looking at it, thinking of jumping back in. BUT there is RED FLAG that did not materialize in 2017. Operating cash flow is negative for the last 3 years, 4 out of last 5 years. Debt/Equity ballooned to 220%, Finance cost/Interest is 50million. Segment wise, education is in red, construction is in red,...

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