Showing posts from September, 2017

Thank you Raffles Education for the lesson!

Raffles Education Corporation Limited (Raffles Education) has just announced a placement of 95 Million of shares at $0.30 on 28 Sep 2017. At that time, their share price was $0.320. However, if you look at the rise in share price, you can see that it was “pumped” to $0.320 within a short time frame. What exactly happen? It seems like one of our Singapore Richest, Mr Oei Hong Leong, decided to increase his stake Raffles Education from 10.43% in Sep 2016 to 14.04% in Sep 2017. I personally believe Mr Oei purchased Raffles Education for business purpose. I doubt he is trying to do anything funny. However, this may have led people who followed him to get stuck at $0.320 if they purchase at a high just before the announcement of the shares placement. In the meanwhile, the financials of this company seems to be in pretty bad shape. Although I may not have taken a close look, but for the last 4 quarters, it only turn profit at the last quarter. The full year net profit margi

Why I Choose ComfortDelGro Over M1

This will be a follow up of my previous post as I talk about the sick Blue Chips in my portfolio. After my last review of my portfolio, I kept thinking of what to do with my sick Blue Chips. I believe that I should reduce the number sick Blue Chips in my portfolio. Eventually, it was a decision to keep either ComfortDelGro or M1 . By the time you read this, and as the title suggest, I will have already sold off all my M1 shares. So why did I choose ComfortDelGro over M1? 1. I have Singtel and M1.  Since I already have 2 telecommunication companies in my portfolio, and this industry will be impacted in the future, I decided to just keep 1 of them in my portfolio. 2. ComfortDelGro is a much bigger company! Other than market cap, ComfortDelGro is a much bigger firm than M1. ComfortDelGro owns part of VICOM and SBS Transit. But M1 is just M1. 3. ComfortDelGro has been increasing their dividend, while M1 has been reducing their dividend. 4. The Ulti

My 10% Portfolio - Changes After 3 Quarters

Time flies and it is time to review my portfolio again. Once again, let me emphasize on the following: 1. This portfolio review is calculated from the start of the year and the aim is to review the total portfolio gain after 1 year. 2. Some of the counter's initial share prices are their respective share prices at the start of this year (Especially those counters in this post). 3. The gain and loss stated is just a simple calculation of the difference in share prices, ignoring the transaction fees. 4. At times, if stated, the gain could be including dividends. 5. This review will include my overseas counters in USA and Hong Kong. These are the updates to my 10% Portfolio : As per Previous Post Current Oversea-Chinese Banking Corporation Sold at 15% Profit! Singapore Telecommunications Limited Singapore Telecommunications Limited ComfortDelGro Corporation Limited ComfortDelGro Corporation Lim

The Share Buyback Counter

In my own opinion, having written a 3-part series on the construction industry (Part 1 , 2 and 3 ) and invested in many construction and property counters, I believe my understanding of the construction and property industry is at least above average. Thus, this time round I will be writing about Tiong Seng Holding Limited (Tiong Seng) , which I had been vested since the start of the year at a very low price of only $0.230. It has since risen till the current price of $0.320. A whopping 36%  paper gain! Profile In Short (Taken from 2016 Annual Report) Riding on over 58 years of strong track record, Tiong Seng is a homegrown leading construction and civil engineering company in Singapore and a niche real estate developer in China. Accorded the highest A1 grading from the Building Construction Authority (“BCA”) for both general building and civil engineering projects, the company is qualified to undertake public sector construction projects with unlimited contract

An Interview With "ozxinvest"

I have never met him. But I have always interact with him on InvestingNote and find him to be a very patient and disciplined investor. It was what he wrote that make me notice him. Just read the messages he wrote below? Make you really want to invest right? In addition, if you follow him on InvestingNote, you will realise that he is a very good investor as well. Almost all his counters have made significant gains this year. In my view, he is more like a fundamental "story" investor. He invest when he believes in a certain "story" of a counter and he will ignore all noises until the "story" plays out. Once the "story" plays out, significant gains will be made. My perception of him maybe wrong at the end of the day, but that's most probably because I am always so tempted to invest along with him whenever I read his "stories". Without further ado, let's get straight to the interview questions and his answers!

All Roads Lead to Rome

This post is for many of you who went for the recent Value/Growth Investing Workshop, for the readers who have read the post on the Ultimate Scorecard, and for the subscribers to the Ultimate Scorecard database via Fundamental Scorecard website. Because once again I had made some changes to the Ultimate Scorecard. Few days ago, I was prompted by a subscriber who went for the workshop that "PB to ROE" equals to "PE" ratio! Seriously I was dumbfounded. Thus, this weekend I decided to double check on the database and I found that this is absolutely true. Hence, if I continue to use "PB to ROE", I will end up putting more emphasis on "PE" ratio. Even if I amend some of the figures, I realized the impact will not be great. Therefore, I decide to change the criteria from "PB to ROE" to just "ROE" ratio. This is because I still want a criteria to calculate management capability. In addition, the subscriber also shared a