Author: The Fifth Person

5 things I learned from the 2019 Singapore Post AGM

When I lasted attended Singapore Post’s annual general meeting in 2018, the management was touting the success of their turnaround plan for the company’s ecommerce segment, where losses narrowed from $33.8 million to $16.7 million. The turnaround looked to be on track, so it came as a surprise when SingPost announced the sale of its two U.S. ecommerce business – Jagged Peak and Trade Global — in April this year. The announcement of the sale caught me off guard as I remembered that the management was rather optimistic at the 2018 AGM about turning around the e-commerce segment where...

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12 things to know about QL Resources before you invest (updated 2019)

QL Resources Berhad is a multinational agro-food corporation which is primarily involved in three business divisions: marine products manufacturing, integrated livestock farming, and palm oil activities. As of 16 September 2019, QL is worth RM11.3 billion in market capitalisation. In this article, I’ll bring an update on the company’s latest annual results, growth plans, and stock valuation. Here are 12 things to know about QL Resources before you invest: 1. The marine products manufacturing division recorded an 11.1% year-on-year increase in revenue to RM1.01 billion in 2019 from RM905.4 million in 2018. This is mainly due to the company’s...

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10 things I learned from the 2019 ELK-Desa Resources AGM

ELK-Desa Resources Berhad has been listed on Bursa Malaysia since 18 December 2012. The company is involved in two business segments: hire purchase financing for used motor vehicles and furniture trading. The company’s hire purchase financing operations are currently concentrated in the Klang Valley area. As an extension of its hire purchase financing business, the company also cross-sells motor related general insurance products to its hire purchase customers. These insurance products are mainly from leading insurance brands, one of which is Tokio Marine Insurans (Malaysia) Berhad. ELK-Desa’s furniture trading business, which started operations in mid-2015, is currently focused in...

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10 things I learned from the 2019 Genting AGM

Listed in 1971, Genting Berhad operates in nine countries across four continents. It is involved in various businesses ranging from leisure and hospitality, plantations, property, as well as power and oil and gas. As an investment holding and management company, its businesses are conducted via its listed companies including Genting Malaysia Berhad, Genting Singapore Limited, Genting Plantations Berhad, as well as unlisted Genting Energy Limited and Resorts World Las Vegas LLC. Here are 10 things I learned from the 2019 Genting AGM: 1. Revenue increased 4.1% year-on-year to RM20.9 billion in 2018. In the last five years,revenue has grown...

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10 things to Know about Panasonic Malaysia before you invest

Panasonic Manufacturing Malaysia Berhad manufactures and distributes a variety of home electrical appliances under the Panasonic brand in two factories situated in Shah Alam, Malaysia. As of 5 September 2019, the company is worth a total of RM2.5 billion in market capitalisation. In this article, I’ll give an update on Panasonic Malaysia’s latest annual results, its future plans, and stock valuation. Here are 10 things to know about Panasonic Malaysia before you invest: 1. Panasonic Malaysia generated RM479.2 million in domestic sales in 2019, accounting for 42.5% of total revenue. Since 2010, domestic revenue has risen at a compound...

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8 things I learned from the 2019 SATS AGM

SATS is a food and logistics company that is best known for managing most of the ground-handling services and in-flight catering at Singapore’s Changi Airport. Due to the recurring nature of the business, SATS’ financial performance has been remarkably stable. In fact, SATS’ operating profit actually grew during the last financial crisis, from S$153 million in 2007 to S$170 million in 2009. Despite this, SATS seems to be facing some challenges on the growth front in recent years — revenues have grown just 8% over the past three years. While earnings have grown over the same period due to...

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10 things to know about Hartalega before you invest (updated 2019)

Hartalega Holdings Berhad is the world’s largest nitrile glove manufacturer. As at 1 September 2019, the company is valued at RM17.2 billion in market capitalisation. In this article, I’ll bring an update on Hartalega’s latest annual results, its development on the Next Generation Integrated Glove Manufacturing Complex (NGC), and offer a few ratios to assess the company’s stock valuation. Here are 10 things to know about Hartalega before you invest: 1. As of 31 March 2019, Hartalega has successfully commissioned 10 out of 12 production lines at Plant 5 in the NGC. The company now has an annual production...

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8 things I learned from the 2019 Mapletree Industrial Trust AGM

Mapletree Industrial Trust (MIT) is a REIT with a portfolio of 87 industrial properties in Singapore and a 40% stake in 14 data centres in the U.S. (through a joint venture with Mapletree Investments). The properties in Singapore include hi-tech buildings, flatted factories, business park buildings, stack-up/ramp-up buildings, and light industrial buildings. As at 31 March 2019, MIT’s total assets under management was S$4.8 billion. Here are eight things I learned from the 2019 Mapletree Industrial Trust AGM: 1. Gross revenue grew 3.5% year-on-year to S$376.1 million in 2019 and net property income (NPI) grew 3.7% y-o-y to S$287.8...

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10 things to know about Kossan Rubber before you invest

Established in 1979, Kossan Rubber Industries Berhad is presently one of the three largest rubber glove manufacturers of the world. As of 26 August 2019, Kossan is worth RM5.3 billion in market capitalisation. In this article, I’ll give an overview of the company’s growth story, long-term financial results, and stock valuation. Here are 10 things to know about Kossan before you invest: 1. Annual production capacity has steadily increased from 16.0 billion gloves in 2013 to 26.5 billion gloves in 2018. Source: Kossan annual reports Kossan’s production mix has skewed heavier towards nitrile gloves over natural rubber gloves as...

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10 things to know about Ajinomoto Malaysia before you invest

Established in 1961, Ajinomoto (Malaysia) Berhad has grown into a well-known manufacturer and distributor of food seasoning products in Malaysia. As at 22 August 2019, the company is worth RM1.04 billion in market capitalisation. In this article, I’ll cover the company’s business segments, latest annual results, and stock valuation. Here are 10 things to know about Ajinomoto Malaysia before you invest: 1. Retail products: Starting with just Ajinomoto seasoning, this division has since expanded its product range to include chicken stock, seasoning for local dishes, and sweeteners. In March 2019, Ajinomoto Malaysia launched a brand-new all-in-one seasoning product —...

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12 things I learned from the 2019 Mapletree Commercial Trust AGM

Mapletree Commercial Trust (MCT) owns a mix of retail and commercial properties in Singapore. As of 31 December 2019, MCT’s portfolio of five properties – VivoCity, Mapletree Business City I, PSA Building, Mapletree Anson, and Bank of America Merrill Lynch HarbourFront – is valued at S$7.0 billion. MCT has been one of the better-performing REITs in Singapore since its IPO in 2011. I decided to attend its latest annual general meeting and get an update on the REIT’s latest performance and developments. Here are 12 things I learned from the 2019 Mapletree Commercial Trust AGM: 1. Gross revenue grew...

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11 things I learned from the 2019 Genting Malaysia AGM

Listed in 1989, Genting Malaysia Berhad (GENM) is a household name in Malaysia. It owns Resorts World Genting, a hill resort located in Genting Highlands which is about an hour’s drive away from Kuala Lumpur. Resorts World Genting offers visitors a wide variety of dining, retail, and entertainment options, and a welcome respite from Malaysia’s tropical heat. But most importantly, it operates a casino. I recently visited the resort on a weekday and was surprised to find how crowded it was; it was flooded with tourists, both local and foreign. 2018 was a tough year for GENM as it...

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12 things to know about Ascendas REIT before you invest (updated 2019)

Ascendas REIT (A-REIT) is the first industrial REIT listed on the SGX. It owns a portfolio of business & science park properties, high-specification industrial properties, data centres, light industrial properties, flatted factories, integrated development amenities & retail properties, and logistics & distribution centres located across Singapore, Australia, and the UK. Presently, A- REIT is worth S$9.5 billion in market capitalisation and is, thus, the largest industrial REIT in Singapore. In this article, I’ll cover its recent developments in 2019, latest annual results, and stock valuation. Here are 13 things to know about Ascendas REIT before you invest: 1. A-REIT’s...

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10 things I learned from the 2019 Netlink Trust AGM

Netlink NBN Trust is the sole owner of Singapore’s passive fibre network infrastructure, which provides nationwide coverage of fibre broadband services. It is also responsible for the maintenance and operation of any infrastructure related to the fibre network, including ducts, manholes, fibre cables, and central offices. As a business trust, Netlink distributes 100% of its cash flows after company expenses such as management costs and interest payments. This enabled the company to pay shareholders a healthy distribution per share of 4.88 cents over the past year. This translates into an attractive yield of 5.55% based on its closing price...

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10 things I learned from the 2019 Netlink Trust AGM

Netlink NBN Trust is the sole owner of Singapore’s passive fibre network infrastructure, which provides nationwide coverage of fibre broadband services. It is also responsible for the maintenance and operation of any infrastructure related to the fibre network, including ducts, manholes, fibre cables, and central offices. As a business trust, Netlink distributes 100% of its cash flows after company expenses such as management costs and interest payments. This enabled the company to pay shareholders a healthy distribution per share of 4.88 cents over the past year. This translates into an attractive yield of 5.55% based on its closing price...

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