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...

Read More

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...

Read More

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...

Read More

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...

Read More

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,...

Read More