Showing posts from July, 2016

Another Lesson Learnt From Deep Value Investing - Krisenergy Ltd

After reading about Investment Moats latest post on Swiber Holding Ltd and his comments on Deep Value Contrarian Investing, I made a comment: "Hi If an investor is using Deep Value Contrarian style (like me sometimes), he must be able to understand it is “HIGH RISK, high return” – note the capital letters. He must also have experience, able to endure the ups and DOWNS (mostly downs) and understand financials as well as the business model. He must also be able to exit when something goes wrong. Only by understanding these factors, then should the person go into deep value investing. Looking forward to your next post! Regards, TUB Investing" Therefore I will emphasize again - Deep Value Contrarian Investing is a high return but also HIGH RISK style. I have been engaging in some of this investment style since March 2016 and the results have some far been slightly better than average . But it should have been better. Other than the factors I stated above, deep value in

Have You Sold?

Updated on 28 Jul 16 11.54am: Decided to sell off Krisenergy Ltd after Swiber Holdings Ltd  files to wind up. Another lesson learnt. It seems the industry is really in big trouble. Deep value trap in the future. No, you didn't? Then did you buy? After reading what B wrote, I decided to write a post of my recent actions to emphasize some of the views he had about the recent situation. To start off, I believe this current rise in share prices are temporary and this is a time to SELL rather than BUY. In addition, I also tried to re-balanced my portfolio and clear off some dead wood. This is an action-packed 2 months for me. I managed to divest the following holdings during this period and increase my cash position from about 5% to 15%. Partial divestment of Singtel Ltd Partial divestment of M1 Ltd Partial divestment of OCBC Bank Full divestment of Accordia Golf Trust Full divestment of Vibrant Group Limited Full divestment of Multi-Chem Limited Full divestment of

NSL Ltd - Prefab and Precast Steel Supplier

One of the participant of the 1st Sharing Session with T.U.B asked: " With so many steel companies in your portfolio , why haven't you considered NSL Ltd?" Thus, I decided to take a look at the financials of NSL Ltd. Profile In Short NSL Ltd, through its subsidiaries, manufactures and sells building and refractory materials, and road stones in the Asia Pacific. It operates through Precast and Prefabricated Bathroom Unit (PBU), Dry Mix, Environmental Services, and Engineering divisions. The PBU division manufactures precast concrete components for building and infrastructure; and prefabricated bathroom unit/cabins for ships and buildings and marine fire doors. The Dry Mix division manufactures and sells drymix plasters and mortars. The Environmental Services division engages in the collection, management, recovery, and disposal of marine waste, oily/toxic waste, and industrial waste. This division also offers other oil-and-chemical services, such as cleaning a

TTJ Holdings Ltd - Non-Renewal Of Tenancy For Foreign Workers Dormitory

On 20 July 2016, TTJ Holdings Ltd has announced that "BCA has not granted the Group’s application for a renewal for a further term of the tenancy for the Terusan Dormitory. Currently, the Terusan Dormitory houses approximately 5,300 workers and is the only workers dormitory operated by the Group.   The Board also wishes to inform shareholders that the Group has been successful in securing the tender for the management and operation of an existing foreign workers dormitory situated at Upper Jurong Road (the “Jurong Dormitory”). The tenancy for the Jurong Dormitory will be for approximately 3 years commencing on 1 August 2016 and ending on 30 July 2019. The Jurong Dormitory has a capacity of approximately 500 workers. The Group’s Dormitory business contributed approximately 20.3% or S$19.1 million of the Group’s revenue for FY2015. Accordingly, the non-renewal of the Terusan Dormitory is expected to have a material impact on the Group’s financial and operating results for the fin

1st Sharing Session With T.U.B is a Success!

We have successfully conducted our 1st Sharing Session with T.U.B! Being the coordinator, I have also learn a lot from the audience as well. Being a small group, friendship was also established during the session. Feedback has been positive so far and everyone seem to walk away with something learnt that day. Yup, that's me talking. Thus far, I have been thinking and these pointers seem to have stuck me: 1. My biggest influence on investing didn't come from Warren Buffet or Benjamin Graham. It is James Moniter - an Author of various investment books (Focus Behavioural Investing and Value Investing) and a member of GMO’s Asset Allocation team. Prior to joining GMO in 2009, he was co-head of Global Strategy at Société Générale. 2. I am really getting into deep value investing . This is a high risk, high return strategy and I must really do my due diligence on each stock before I enter. This is a reminder for myself as well. 3. As stated on the slides, Enha

The Value Portfolio - Recent Actions and Views - Post 9

It has been some time since I did an update on my portfolio (the last one was in April) . Over the time, I have already made numerous sale and purchases in the Singapore market. This should also be the last time I update my portfolio on T.U.B Investing. In future, I will only review my current portfolio during my sharing session. So if you are interested, do come for the sharing session! (But never say never... I may just post another update numerous months later!) But don't worry, I will continue to review interesting stocks (especially if I am vested) in the Singapore market and post them on T.U.B Investing. Without further ado, here are the following stocks that are currently in my portfolio: Sin Ghee Huat Corporation Limited PNE Industries Limited Chuan Hup Holding Limited LHT Holdings Limited TTJ Holdings Limited Accordia Golf Trust (Yes. I have yet to sell despite my last post as it did not reach by target price.) Singapore Telecommunications Lim

Review Of My Venture Into Deep Value Stocks

If you remembered, I announced in March that I had ventured into deep value investing. Therefore, this portion of my portfolio is one which I have been actively monitoring as I deem them as “High Risk, High Returns”. With the divestment of Vibrant Group Limited, I like to announce that this is the 2nd successful huge capital gain (above 25%) I had achieved over this short period of time. So here are the deep value stocks that I have bought and sold since I start deep-value investing (Calculation ignore dividends that I may have collected and transaction fees) : Do note that I have not been updating of the changes in my portfolio recently. Therefore, some of the stocks here may not be have been mention in my blog before.  Fu Yu Corporation Ltd – Bought $0.164. Sold $0.194. Gain of 18%. IPC Corporation Ltd – Bought $0.345. Sold $0.440. Huge Gain of 27%! DeClout Limited – Bought $0.205. Sold $0.230. Gain of 12%. Lafe Corporation Ltd – Bought $0.650. Sold $0.505. Huge Loss o

Divestment Of Vibrant Group Limited And My Afterthoughts

Since I wrote about Vibrant Group Limited 9 days ago, the share price has jumped from $0.350 to $0.430 (as of 11 July 2016)! With my Purchase Price of $0.305, I have decided to divest all of my holdings in Vibrant Group Limited at $0.420. This represent a capital gain of 37.7% over a period of 3 months! Many may criticized me over my decision to sell it off after such a short period as I have been “promoting” myself as a long term investor. Thus, I may be misleading my readers as I am more like a trader rather than an investor. I like to clarify that when I put my money into a stock, the fundamental analysis I did on each stock is supposed to give me assurance against any downside in the share price. In other words, I assured myself by understanding the company and its business so that I can emotionally “protect” myself from any impulsive move that I may regret later. Furthermore, by doing so, I invest with a long term mindset so that I will be able to endure holding onto the par

Ellipsiz Ltd - A Low Ball Offer From CEO

Updated on 8/7/16: As pointed out by respective valuebuddies (sgpunter) , "...the Offer is not made by the CEO but the substantial shareholder Bevrian Pte Ltd which is an entity linked to the Lum family...This Offer was only triggered as it is mandatory to do so according to the Code of Takeovers and Mergers given that Bevrian has crossed the 30% threshold...Hence, the explanation for the seemingly "lowball" Offer. Bevrian already indicated that they intend to maintain the listing status of Ellipsiz so nobody is expecting for this Offer to go through..." I just like to give a short update on Ellipsiz Ltd. As of today, there was a low ball offer of $0.380 from the CEO. I have seem low ball offers of my watchlist stock, such as Zagro Asia Ltd, happened before and succeed. But this is my first opportunity of receiving a general offer and I am still excited (even if it is a low ball one). Anyway I have written about Ellipsiz Ltd previously, which you can r

Vibrant Group Limited - Full Year Results Are Out

Vibrant Group Limited just released their results a few days ago. I got excited about the dividend and commented on valuebuddies thinking that it was a great announcement and got "slapped" with the reality. The dividend is actually much lower since it was a post consolidation dividend. If based on previous year dividend announcement, after share consolidation, it should be 2.75 cents (as compared to 1.80 cents declared for FY 2016). The Conversation In Valuebuddies Anyway you can read about my previous detailed write up about Vibrant Group Limited here . Thus, I am not going into details for the FY 2016 financial statement. Currently, this stock is in the money for me but I am still not selling because... 1. Price is Still Significantly Lower than Net Asset Value - Net Asset Value still remains close to the figure I stated previously, at $0.6702. The current share price of $0.350 is still about 47% discount off the Net Asset Value. 2. Dividend of $0.018 - A