Tuesday, December 31, 2019

Happy New Year!

As we bring the year to a close and usher in the new year, I will just like to wish everyone a Happy New Year and a Belated Merry Christmas, as well as an advanced Happy Chinese New Year!

This year has been a blast for me - because my daughter is born. No matter what my returns are, nothing will be greater than her coming into my life.

Thus, she is also the main reason I am away again for more than 1 month. Had to help to take care of her during the holidays as well as her taking up all my spare time.

So I gave my wishes in advance and also my apologies for being away.

Nevertheless, readers will know where to find me.

Being the admin, I am super active on my Fundamental Scorecard Telegram Group. Please support and join.

I am also continuing to share on my TUBInvesting Facebook Page. Do comment if you have any thoughts.

I also tend to be lesser on IN nowsadays. But you can also find me there.

Finally, I am also kept busy because I have restarted my portfolio (Yes, again!) and been constantly reviewing companies for "My Crazy Portfolio".

Before I continue, if you are interested in my past and current returns, do check them out here. A note of advice, they are not great by my standards. So much more to improve on!

With that I like to end the year with revealing the companies in my portfolio (I did write up on some of them):

SG Portfolio:
2. Straco Corporation
3. Starhill REIT
4. Japan Food Holdings
5. HongKong Land
6. QAF
7. *This has to be kept secret*

HK Portfolio
1. IGG Inc
2. Medialink Group Holdings

US Portfolio
1. UVE
2. DIS
3. GSB
5. QD

Some of you may have noticed that my portfolio has changed somewhat. If you are interested to know more, you can ask me on my Fundamental Scorecard Telegram Group, on my TUBInvesting Facebook Page or comment on my blog post!

Huat ar!

Sunday, November 24, 2019

Don't Get Trapped...

Yesterday, during our FATA Seminar's Stock Discussion, we discussed about some companies and I pointed out some of their issues in the financials.

Do note that for our FATA Seminar, we will allow participants to ask about some companies. After which we will discuss about these companies' FATA prospects.

Many of the issues came from S-Chips' financials, which many had already cautioned about.

However, we discussed about this Singapore company's in the F&B sector, where I mentioned about some figures in the financials that were presented very interestingly.

Income Statement

Balance Sheet

Cashflow Part 1

Cashflow Part 2

Share Price since IPO - Source: Yahoo
Let me explained some of the interesting findings:

1. Changes in financials occur due to SFRS 16: Leases
2. Previously, leases were stated under operating leases - these were expenses. Currently, they are capitalised - these became assets under PPE.
3. Under income statement, depreciation increases, property rental and related expenses decreases. In actual fact, total cost remained the same related to their leases.
4. When leases were capitalised, their deduction comes from "financing activities" and not "operating activities". 
5. These changes resulted in significant increases (in fact, almost 3 times) in net cash from operating activities. 
6. Free cash flow also increased significantly.
7. However, if the S$48 million of leases under "financing activites" were deducted, the free cash flow will have been lower.

Many investors who do not read financials but solely follow many website indication of PCF or PFCF, will not have known about this issue.

There are many other issues that I pointed out during the seminar, but I prefer not to write here.

Oh... just 1 more point - Period of Moratorium is usually 6 months. If you look closer at the share price changes, you will understand even more about the company. 

Anyway we hope to see more participants for our next FATA seminars. Do note that other than pointing out issues, I also provided an interesting company listed in US.

If you want to know more about other interesting finds in the company or other companies, feel free to join our Fundamental Scorecard Telegram Group.

Thursday, November 21, 2019

GSB Announced Good News + Other Existing Companies In Portfolio

Short Post

GSB, which I had just written about recently on 9 Nov 2019, has recently released some good news!

Yes! Shortly after I invested in the company, it announces a special dividend of US$3.35!

That more than 30% of return!

So far that is the 2nd piece of good news since the launch of the Crazy Portfolio. I do hope it continues!

As for other overseas companies, it is good to note that previously written companies like UVE, GDOT and IGG, still exists within the Crazy Portfolio.

Thus that is 5 companies that I have written about. Stay tuned for more!

This is the final call!

Join us this coming 23rd Nov (Sat)  |  10.30am to 5pm in understanding both FA & TA to make better trading decisions. 

iFAST@Ocean Financial Centre
10 Collyer Quay, #26-01 Ocean Financial Centre, Singapore 049315

Course Fee: SGD$30

Register Link Here

Thanks for your support!

Saturday, November 16, 2019

FATA Idea Room a.k.a The Trading Investor

Hi all,

It has been a while since I ran a seminar.

I have been trying to collaborate with a TA guru to come up with a Fundamental-Analysis-Technical Analysis (FATA) seminar/course.

As you can see...we have yet to decide on the name...

The reason for doing this is mainly to value add to our respective communities.

I do believe that having some TA knowledge can help an investor find a better entry point. For a trader, having simple FA knowledge can bring about better gains or what happens if you miss a stop loss?

The seminar structure will be as follows:
- Intro
- FATA Mental Framework
- FA - The Most Important Ratio
- TA - Her Unique Style
- Lunch
- Stocks Discussion (Highlight of the day)
- End

In my opinion, the stocks discussion is the highlight. For whoever that sign up, I will ask you for a counter. Then we will try our best to talk about all the counters during the seminar.

Course Date: 23 Nov 2019 (Saturday)
Course Time: 10:30 am - 5 pm (Apprx)
Course Location : iFAST@Ocean Financial Centre
Cost: $30
Address: 10 Collyer Quay, #26-01 Ocean Financial Centre, Singapore 049315

Please sign up using this LINK.

Appreciate your support. Look forward to meeting you!

Wednesday, November 13, 2019

KEM - The One That Got Acquired Before I Could Write Extensively

Short Post

With the start of Crazy Portfolio, TUBInvesting new direction is to be the diary of the portfolio and to put up post about my journey to eventually achieve my crazy target!

Thus, it was natural that I wanted to record down all the companies that was part of this portfolio.

However, this company, Kemet Corporation was acquired by Taiwan-based electronic component manufacturer Yageo for $27.20/share in cash, for a deal valued at $1.8B including the assumption of debt, before I could even do a proper write up.

Read about the acquisition here

I personally feel the purchase price is too low. Anything above US$30 will be more reasonable.

To give you some perspective, the 2018 10-k stated the following:

1. "...The Company has entered into agreements with three of its largest customers pursuant to which the customers have agreed to provide interest free loans to the Company in exchange for assurance of future supply. These interest free loans are being used by the Company to fund the purchase of certain production equipment and to make other investments and improvements in the Company and its operations in order to increase its overall capacity to produce various electronic components." Which customer, in the right mind, will give their supplier interest free loan?

2. "Our customer base includes most of the world’s major electronics original equipment manufacturers (“OEMs”)....Major OEMs: • Bosch Group, Cisco Systems Inc., Continental AG, Delphi Technologies PLC, Tesla Inc., and Denso in the automotive segment. • Apple Inc., Western Digital Corporation, Dell Inc., Nintendo, and Google LLC in the Computer and consumer segment. • ABB Group...." Just look at the customers!

Thus, I do hope some other company will come up with a better offer!

For those that is interested in the daily discussion of US, HK and SG companies, feel free to join our Fundamental Scorecard Telegram Group.