Keeping Track (Aspial)

Silly me bought some shares in Aspial at the wrong time. Substantial paper loss. Don't go against the flow unless there's solid evidence to do otherwise.

Here's an extract for Aspial's unaudited results for year ended 31 Dec 2015:

• For the year, the company reported revenue of SGD 464,064,000 compared to SGD 510,061,000 a year ago. (YOY decrease)
• Operating loss was SGD 9,333,000 compared to operating profit of SGD 9,804,000 a year ago. (YOY decrease)
• Profit before tax was SGD 12,962,000 compared to SGD 61,669,000 a year ago.  (YOY decrease)
• Profit attributable to shareholders of the company was SGD 8,824,000 or SGD 0.47 per basic and diluted share compared to SGD 43,066,000 or SGD 2.41 per basic and diluted share a year ago. (YOY decrease)
• Net cash flows used in operating activities were SGD 21,625,000 compared to SGD 189,246,000 a year ago. (YOY decrease)
• This was mainly due to decrease in development properties and inventories, partially offset by increase in properties held for sale and decrease in trade and other payables. 
• Purchase of property, plant and equipment was SGD 3,746,000 compared to SGD 5,201,000 a year ago.

On the bright side, the business is still profitable despite the challenging business environment, especially for retail and property. I'm unclear on the performance of Maxi-Cash Financial Services Corp Ltd (MCFS) and other related businesses like Global Premium Hotel and Fragrance Group. 

Jump ship?

Shares Investment Research Notes (March 2016)

In my search for new investment ideas, I made use of the SGX Stockfacts function. As my current mental mode is to invest for dividend yields, I made a beeline for that and filtered for shares with dividend yields between 5 to 8.01%. Exactly 100 companies fit that profile.

After junking sectors like REITS, Oil & Gas (under Energy) and Semi-conductors, I've isolated the following list:

• Cogent Holdings Ltd (Div Yield - 5.61%)

• "an integrated full-service logistics hub, Cogent One-Stop Logistics Hub consolidates the current Cogent Group operations (warehousing, container depot and transportation services) under one roof. "

• "Location at 1 Buroh Crescent is strategically situated close to Jurong Port, Jurong Island and (the future) Tuas Mega Port."

• Captii Ltd (Div Yield - 5%)

• Formerly Unified Communications Holdings Limited.

• "Two business units: a mobile value-added-services business unit that addresses mobile VAS solutions, systems and managed application services; and a mobile technology business unit that addresses mobile messaging and signalling solutions, systems and managed services."

• Dutech Holdings (Div Yield - 5.07%)

• Builds ATM safes, weapons safes, etc.
• The only Asian with certification for this specialised and niche area.
• Logically, business model with high barrier to entry due to the entry requirements.

• TalkMed Group (Div Yield - 5.15%)

• Private Oncology practice specialising in cancer treatments.
• Founders worked on Singapore Cancer Centre.
• Mixture of dividend and growth?
• Stable price although recently lower.

Will be assessing all 4 further as I research deeper.

Nov ringing in Dec 2013

Christmas, my favourite season of the year, is near. Dividends have been coming in to stuff the Christmas sock. Thus far, Golden Agri, Starhill Global and Cache Logistics Trust have paid up.

A quick peek at my finances for the year. It is likely that I will hit 104% of my annual income target. Looking forward to paying more tax! Anyway, my target is fairly modest to begin with. I will set a higher amount for 2014. Thank God for His providence.

I have recently started a small contribution to the Nikko STI ETF fund, easily done via any POSB or DBS ATM. A quick search online and you'll find many bloggers who oppose this investment method with critical reviews. And there are forums like this on hardware zone where evidence is clear of new entrants to the investment scene.

For me, it's a matter of convenience and laziness. One visit to the ATM and the regular plan is up. My strategy for this tiny portfolio is simple too, it's money I don't plan to spend nor save.

When the STI is in the 3000s range, I will invest $100/mth.

When it sinks to the 2000s range, I will increase monthly investment to $200/mth.

And if it is ever in the 1000s range, I will do $300/mth.

What do you think of this 'methodology'?

Bye Bye Breadtalk

I will be bidding farewell to my Breadtalk shares soon, having entered this year at 0.495, exiting at the current price of 0.67 gives me a tidy capital gain of $175/lot. More than 30% on principle.

Like most non-robot stock investors, I am affected by the emotionality of the trade. Make money, happy. Lose money, sad. To be unaffected, is a tough job.

Have not hit the sell button yet. The big "what if" question holds me back. What if the transformation in Breadtalk morphs it into a bigger F&B player with integration into the real estate business? Does management have the ability for such a play?

Perhaps?

To sell or not to sell? That is the question. OCBC encourages it, a recent stock report came with a sell call.

What bothers me with Breadtalk is the relatively poor execution of certain brands in their stable. Din Tai Fung seems to be the more successful of its siblings. Icing Room... hmm...
(Image from www.breadtalk.com)

Retail & Orchard Road

It's 2 am in the morning and I can't sleep, so here I am blogging on my favorite stock: Starhill Global REIT.

Despite the irrationality of liking one's stock too much, I love Starhill Global REIT. Part of the reason stems from it's major stake in key Orchard Road retail assets and part from being a star performer in my tiny portfolio.

In a recent The Edge Singapore feature, CEO of Starhill, Mr Ho Sing defended the defensibility of his Orchard Road properties. Starhill's stake in Takashimaya and Wisma Atria are good despite the incessant building and asset enhancements along the road. His argument hinges on the limited supply of retail space, quality supply. His argument of how Orchard Road begins and ends with sleazy joints. How true. Hence, the limited supply of quality retail space on the road that is king for retail in Singapore. 

Considering the supply of retail space to come and the price at which I've entered the stock. I'll be happy to hold for income. Be determined. This is a dividend stock. Don't sell!

In an earlier post, I defend my liking for Starhill Global REIT. For a more officious report, read Kevin Tan's analysis at OCBC Investment Research site. This is all confirmatory bias, you know, but who isn't a victim of such perceptual errors?

Ha! Merry Christmas 2012!!

Wisma Atria, always looking spectacular. 

(Image from: www.thesmartlocal.com)

-----

My meagre attempts at paraphrasing the idea I have. 

• The mention of shopping to a Singaporean would bring up the thought of Orchard Road.
• Mention Orchard Road and you'll think of shopping.
• The association between Shopping and Orchard Road is like BF Skinner's dog association of treats with the bell.
• Say shopping and I think Orchard. Say Orchard and I think Wisma.

$$$ Prevent Credit Card Fraud!

In our age of online shopping through the many websites available, the focus on online security is doubtlessly important. But, we shouldn't avoid primitive forms of attacks. Recently, a close family friend was rudely awakened in the wee morning by a call from the bank. Someone had 'phished' credit card details and gone on a shopping rampage. A 5-figure sum was quickly spent by the thief within a night!

How did it happen?

The credit card parted with the owner at a food establishment. The service staff swiped the card details, including the CVV code while settling our friend's bill. What technology do you need? Primitive. No card scanner, RFID card replicator... Just a good memory, pen & paper or a camera phone to swipe the data that is unencrypted.

Scratch out your CVV after you memorize it.
(Image from cvv.number.com)

Now, my card goes around without the CVV code. I've scratched  out the 3 digits. It wouldn't prevent more sophisticated attacks like server attacks, trojan hacks or phishing scames. But at least, I can pay my bills knowing the staff can't do any hanky panky.

Keep safe, enjoy life!

IMPORTANT DISCLAIMER: Please check with your bank if rights are provided to you for the defacement of your credit card. Any consequence or inconvenience resulting from this action is, without doubt, your own. 

Quality, always. Cycling v.s. SMRT

Always buy quality.

Cheap or poorly made stock AA batteries supplied with my $35 Rav-X rear light leaked within 3 months and the bike store had to offer a 1 for 1 exchanged. While there's no monetary costs to me, is there no impact on our already fragile environment? I think the Rav-X brand is pretty good, the light worked well. I did not expect my user-experience to be impacted by the battery that Rav-X chose to supply with the lights.

Rav X super bright rear light.
(Image from bikebug.com)

Always procure quality.

Rapid depreciation of brand value is not worth the low OPEX in the short term. Serving your customers disgust is the fastest way to cheapen your business. Sounds familiar? Think SMRT and their cut-cost-on-maintenance strategy.