Author: Investment Income for Life

Investment Portfolio Updates- 13 Sep 2019 (Creation of New Margin Account Portfolio)

1. Creation of new portfolio using margin financing About 3 months ago, I went down to Maybank Kim Eng (“MKE”) to apply for my first margin trading.  account. It was quite a daunting experience as I had given a CDP account number with typo and it took very long to resolve the administrative complications. Later on, I opened up another margin trading account with my usual trading broker, UOB Kay Hian as my trade representative mentioned  that her brokerage firm can match the lower financing rate of MKE.  After trying out MKE platform, I was very impressed with their...

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Netlink Trust- Stable Cash Cow Or Just Another Time Bomb Waiting To Explode?

In my previous free cashflow analysis post using Frasers Commercial Trust, I have briefly sidetracked to touch on the problematic nature of Business Trust and that Netlink Trust is another business that actually borrows from the bank to finance its current high dividend distribution of 5.42% (based on 7 Sep 2019 closing price of S$0.90) and that it will most likely not be sustainable in the long run due to a deficit of <S$33Mil>. I will illustrate this using a shortcut methodology below and discuss some of the main technical points: 1. Is interest paid for loans an operating activity...

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Investment Linked Products- High Returns of 6% to 9% per annum by Fund Managers So No Worries On Your Retirement

I had another strange encounter with an insurance agent at a roadshow held at a suburban shopping mall yesterday evening. While shopping around,  a persistent lady kept asking me whether I can help her do a survey and offered a packet of “Himalaya Salt” to me as souvenir. She also assured me that her colleagues and herself are not pushing any products and just wanted to do a quick financial survey. Knowing full well the pattern of the marketing tricks employed to make prospective preys less guarded by offering the free gift, I still decided to sit down with...

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Stock Markets Rallied On Withdrawal of Extradition Bill In Hong Kong- Selling off Frasers Centrepoint Trust

The SGX suddenly soared yesterday mirroring the best month ever for Hong Kong Stock Exchange. I can only attribute this to the formal withdrawal of the extradition bill announced by Carrie Lam, the Chief Executive of Hong Kong. But the key question is whether this move is sufficient to quell the current unrest and whether it really mean the end of the Hong Kong protests? With this major concession, it seems to have given even more strength to the young extremist group that their grand objective of having universal suffrage (one of the key 5 demands) is coming close...

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Frasers Commercial Trust DPU May Not Be Sustainable Even With New Tenant Google Coming On Board

Frasers Commercial Trust (“FCT”) recently announced the signing of a major tenant, Google, at Alexander Technopark. Of course, with this being a done deal, many folks including myself were thus expecting the DPU to increase upon commencement of the lease next year. Upon perusal of the  financial announcements of FCT in the third quarter ending 30 June 2019 and examining it in details, I decided to reduce my shareholdings by half to mitigate any downside risk at the current high valuation of S$1.60-S$1.65 range. The free cashflow available to pay out quarterly distribution turns out to be unsustainable even...

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Should Retail Investors Continue To Invest In This Uncertain Macro-Economic Environment? Or Time For Exit and Wait Strategy?

Should retail investors continue to invest in this uncertain macro-economic environment? Or time for exit and wait strategy? During my last post, I have briefly mentioned that there are some groups of investor who have sold off most if not all their REIT portfolio as they believed that REITs are overvalued and have rallied too much against their fundamentals. Also, such groups believe that economic recession is imminent and have switched to bonds and gold. On the other hand, I have another group of obstinate friends who believed in the buy and hold forever camp who asked me why...

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Love And Destiny- 三生三世宸汐缘

No time to blog recently as I was too busy watching and chasing “Love and Destiny”. This fantasy drama series was so good that I was totally mesmerised by it. The beautiful backdrop and the tragic story line was just too awesome. This amazing series is being produced by the same production team behind the immensely popular “Eternal Love” series in 2017 starring Yang Mi. “Love and Destiny” is actually a prequel to it and in 2020, the sequel to “Eternal Love” which is in post production phase will be coming to viewers and fans. The story goes like...

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Gutter Politics-Mahathir Still Hanging On And Showtime

I am glad that Mahathir had temporarily stopped bashing Singapore over the raw water pricing issue. But not sure how long the fragile peace will last. Malaysia has stopped the export of sand to Singapore to curb Singapore’s land reclamation expansion, in particular, the Tuas Mega Port project. It is of course not in their interest to see Singapore developing well.  Many have forgotten how vulnerable our tiny Singapore is and have taken things for granted. Singapore does not have natural resources such as oil, tin, copper or large agricultural land. The only thing we have is our stellar...

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Margin Account Opening- Gearing Up For the Storm

Almost a month ago, I went down to Maybank Kim Eng Customer Service Centre at Beach Road (Gateway West) to open a margin trading account. It was a struggle for me as I have given them a wrong CDP account (last digit typo) which leads to some administrative issues with getting the margin account setup. Just when I thought that the worst was over after the administrative hassle over phone calls and emails, I received news that some value-added services will no longer be free and become chargeable from August 1st, 2019 onwards. Extract from Maybank Kim Eng Website...

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One Pearl Bank Averge Selling Price At 2400psf And Sold 160 Units At Weekend Launch!

One Pearl Bank and its close proximity to 3 MRT lines and other amenities say a lot about its superb location. The two curved towers design of One Pearl Bank is simply grandeur and will no doubt become the new iconic landmark of Outram and Chinatown area in 2023. Capitaland has once again shown why it is one of the top developers in Singapore. One Pearl Bank has 774 units spread over two magnificent towers and the developer will raise it 21 metres above the ground level to elevate the greenery flow from Pearl’s Hill City Park in order...

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3 Reasons Why I Am Not Taking Part in Prime US REIT IPO

The recent talk of the town is the upcoming Prime US REIT IPO. Prime US REIT is a US-based office REIT that offered an attractive yield of 7.6% at the offer price of US$0.88 per unit. The other points of Prime REIT are that its office properties are freehold and have long WALE of 5.5 years. The public offering will end on 15 July 2019 (Monday). Despite the many star attributes, I will not be taking part in this office REIT IPO due to 3 main reasons.1.   The US economy is weakening with the ongoing trade war James...

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Will SingMedical Group Opt For Privatisation By Following The Footstep Of Thomson Medical Centre And Health Management International?

In order to unlock the undervalued business of SingMedical Group (“SMG”) which I mentioned briefly in my post on 9 June 2019, I have suggested the possible option of privatization using the example of Thomson Medical Centre which had previously been acquired by the local business tycoon Peter Lim before doing a “future relisting” on the SGX 6 years later. Thomson Medical is close to my heart as I used to be involved in part of its accounting and financial work many years back. Also interestingly, another medical group, Health Management International recently announced a privatisation initiative after years...

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Frasers Commercial Trust Finally Snagged Google as Major Tenant

The much anticipated Google deal at Alexandra Technopark finally went through and was formally announced on 25 June 2019 by Frasers Commercial Trust (“FCT”). Since my last posting on 19 January 2019, there has been no more news after the Business Times announced that FCT and Google Asia Pacific Pte Ltd were discussing taking up space at Alexandra Technopark. For the past few months, I thought that Google Asia Pacific had walked away from the lease negotiation and was very worried over how FCT would fare should the global economic downturn happen by end of this year. When I...

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Threat to Singtel and other Telco Profit Margin- TPG Offering Unlimited Data Roaming in Malaysia and Indonesia

Singapore’s 4th Telco TPG wasted no time in firing a fresh salvo against the telco big boys (Singtel, Starhub, and M1) by offering free unlimited data roaming in Malaysia and Indonesia as part of its many innovative services to its current subscribers. To prevent the potential loss of customers, Singtel and its brethren may very well be forced also to match the new service offering. In 2018, around 10.2Mil Singaporean visits were recorded by the Malaysia Tourism Board. Most Singaporeans would have activated the special promotional package of S$5/GB for such trips across the causeway. There is thus a...

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Investment Portfolio Updates- 19 June 2019 (Market Rally In the Face of Imminent Global Recession?)

The see-saw ride in the global markets continues since my last portfolio update in April’19 with no clear end in sight. The US levying of tariffs on China and a swift retaliation from China leads to a tumbling of many blue-chip companies listed on the Singapore Stock Exchange. However, over the past 2 weeks, the market had rallied strongly despite weakening macroeconomic fundamentals. “Defensive stocks” such as Singtel and REITs have also seen their prices shooting up like a rocket. The surprising aspect of this is that while the Federal Reserve has given some indication of halting of interest...

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