The real reason Straits times index is falling

Don’t be misled by the media hype of China slowdown, US interest rate rising, oil price falling. Not that they are not important but the real reason STI is falling is because the competitive advantage(moat) is narrower as big companies like the banks face competition from fintech, SGX face competition from new clearing houses and Singtel face competition from new telco player.

Besides that, singapore property market is expected to slump further this and next year, STI(especially the banks and property counter) is reacting to that.

February 2, 2016 at 3:11 pm Leave a comment

Lantrovison $3.25 offer

Disclaimer: I am vested in Lantrovision, so opinion will be biased.

A japanese company Mirait coprporation just offered $3.25 for Lantrovison shares subject to a scheme of arrangement of which the main condition is not less than 75% of shareholders holdings present or via proxy, voting in favour of the offer in an EGM to be held later.

Lantrovision has a solid balance sheet full of cash free of debt, 91.2million as of 31st Dec 2015 or approximately $1.69 in cash.NAV is $2.21 as of 31st Dec 2015.EPS is 17cents for first half of fiscal yr 2016.Thus, the japanese company is only paying $1.56 ($3.25-$1.69) for an estimated EPS of 34 cents (annualised earnings), ie. ex-cash PE ratio of 4.6, very cheap, provided that the cash does not dwindle and earnings remains solid. Even if earnings is stuck at 17 cents per share for full year, ex-cash PE ratio is only 9.2.

Fingers crossed that there is a competing offer.

January 27, 2016 at 10:24 pm Leave a comment

Will Zagro follow SIA in revising offer?

SIA just revised its offer for Tiger Air after saying earlier that it will not revise its offer. As Zagro Asia also said it will not revise its offer earlier but the owner could succumb under pressure if shareholders unite and refuse to sell shares to him at this offer price.

Disclaimer: I am vested in Zagro, so opinion will be biased.

January 4, 2016 at 8:26 pm Leave a comment

Nice gesture by Qianhu

When i opened the mailbox, i was surprised to see Qianhu sending shareholder a desktop calendar for 2016. Not sure whether it is a one-off for new shareholder or recurrent annually as long a i am a shareholder. Despite Qianhu’s lacklustre results and that Kenny Yap has said that shareholders are not the top of Qianhu’s concerns, this heartwarming gesture shows that Qianhu does care about its shareholders. It is also a good way for Qianhu to advertise its products/services and not forgetting that since it is sending calendars to its business associates and employees, it is economical sound to print more to send to shareholders too.

December 11, 2015 at 10:35 pm Leave a comment

Kong Hee’s incomplete bazi

Kong Hee’s incomplete bazi is 甲辰    壬申    甲辰(日主), 大运丁丑(2009年开始)

November 20, 2015 at 4:21 pm Leave a comment

Vote against delisting offer of 30 cents by Zagro Asia

Zagro Asia just announced a delisting offer by the main shareholder. However, the offer is less than the book value of Zagro Asia at only 30 cents. I intend to vote against the delisting offer as it undervalues the company. I urge fellow shareholders to also vote against the offer. 10 % of total shares is required to vote against the offer. Thank you.

November 3, 2015 at 8:10 pm 2 comments

Qian hu- a Graham net-net stock

Qian Hu share price has fallen to all-time low since its ipo. It is now approximately 2/3 of Net Current asset value. Although its results have been dismal, but Kenny Yap is a good CEO who will work hard and smart to boost profits as its makeover develops over time.

Disclaimer:I am vested in Qianhu, so opinion will be biased.

October 20, 2015 at 1:56 pm Leave a comment

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