Friday 30 April 2021

(April Results) How i would invest in the singapore stock market if i had 100k of spare money


April 2021 Returns: 10.33% (Returns driven by general uptrend in the porfolio, notably Hanwell and Propnex) 

Year to Date Returns: 36.48%

% Change since 9 September 2020 (Inception): 50.65%

Year to Date the STI ETF returned about 13.2%

Thoughts on Current Portfolio

Is the market in a bubble?

-Its hard to quantify it a bubble as earnings recovery are in place. However if earnings disruption could occur and hence this could drive a downturn in the market. Alternatively failing to replicate the good performance in 1Q in some sectors e.g banking could result in a general market downtrend.

Is there changes needed to be made in the portfolio?

-Construction Sector seems to be facing even more headwinds again, putting some pressure on KSH, however its a play for the real long run with Gaobeidian thesis. Hence its likely to stay there for some time unless it starts losing its ground in Singapore by a lot.

Moving Forward, i expect returns to start going down or tapering. This is because i believe there could be headwinds resulting in general market heading downwards. However, most companies in the list all reported strong earnings hence i am still somewhat confident in the long term fundamenals currently. 

Sunday 25 April 2021

SGX Shares with 8 % Yield and 30% Gain in Share Price in 1 year. Is that possible?

(Sidetrack: Happy Remi Day)


Recently came across someone saying that. Hence it flashed across my mind and I started asking myself if this is possible.

I have decided to use Stockscafe screener to aid myself to see if its possible.

Screener Settings

Current Yield > 8%

Projected Yield > 8%

P/E more than or equal to 1 (To ensure company is profitable minimally)

Close from 52 weeks low at least 30% (To ensure a 30% gain is somewhat possible)


Pre-screening thoughts

Given the tough environment in 2020 March, I believe 8% yield and 30% gain in share price is very possible if the shares were bought during that period. 

As such some laggards would still be around even in April. The chances of finding them is highly possible. 

However, if we were to use the share price on first trading day of 2021, I believe it is highly impossible


Screening Results (File can be downloaded on Investingnote at this link)

Just in case the names are too small here are the names

1.       Lung Kee Bermuda

2.       Asian Pay Tv Trust

3.       Multi-Chem

4.       Global Inv

5.       Pan Hong

6.       Yanlord Land

7.       Powermatic Data

8.       PNE Industries

9.       FSL Trust

10.   Lion Asiapac

11.   KepPacOakReit USD

12.   Japfa

13.   CromwellReit EUR

14.   PTR ADR US$

15.   Fu Yu

16.   Sin Heng Machinery

17.   EliteComREIT GBP

18.   SIIC Environment

19.   China Intl

20.   ValueMax

21.   China EverBright

22.   YHI Intl

23.   Advancer Global

24.   Hafary

25.   Maxi-Cash Financial

Applicable Stocks

Multi-Chem (IT Business)

Pan Hong (China Property Development)

FSL Trust (Shipping Related)

Lion Asiapac (Steel Trading)

KepPacOakReit USD (Office Reit in US)

YHI International (Tyres distribution)

Maxi-Cash Fin (Pawnshop, Licensed Moneylending)


While these companies have passed the mark this time round, for them to pull it off again, they will have to raise their yield and share price by 30% to achieve the target again. Whether that is possible will have to depend on whether their value has been fully realized and their business fundamentals. It is interesting to note that no big caps / Mid-caps are on the list as the 8% yield proves to be a major hurdle.

However, this gives a good indicator to the chances of pulling the 30% gain off. Which true enough, proves to be rather low.

Closing Thoughts

Backwards looking is easy, especially when things are on a recovery trend since March last year. However, to have the conviction to purchase mid and large caps in those times could proved to be very difficult. As such to purchase a couple of names that most would not have heard of, can only prove to be even harder.

Having said that, there are a few names in the list worth taking a look at.......

Wednesday 21 April 2021

The 10% profit and run game on moomoo (Updated 22 April 2021) + Short Thoughts on current own portoflio


10% profit and run game on moomoo non sponsored trades updates

           (1st loss recorded, but drinking warm bowl of bkt when the weather is cold is needed)

Transaction Date




Stock Name

Amount Purchased/ Sold

Transacted Price per share

Commissions Paid

26 March 2021


HK 3339





26 March 2021


HK 1538

Zhong Ao Home




21 April



HK 1538

Zhong Ao Home




21 April





Pacific Basin




22 April





Pacific Basin




22 April





Logan Group   





Zhong Ao Home

-Fell by around 10% since its results released. While results were not ‘wow’ it certainly wasn’t bad as well. Considering the lack of ‘wow’ in its results, a divestment decision was reached when it hit the 10% down price.

Pacific Basin

-Bought to ride on the BDI Run, sold when it went up due to JPM coverage and increase in BDI.

Logan Group

-3 Green Lines passed. Good Landbank reserve, Urban Redevelopment + Great Bay Area Theme with 20% Sales growth target set by management.

Portfolio Thoughts

-Unlikely to hit my abruptly set target before my birthday(May)

-Hopefully i can hit my target by the end of the year

                             (Hopefully Mr Teo can drive my portfolio upwards....) 

Sunday 11 April 2021

(Short Analysis) Econ Healthcare (Asia) Limited – The first catalyst board listing in 2021


Basic Details

Sector: Aged Care Services (Private Nursing Homes)

Competitors: Orange Valley, Lee Ah Mooi etc

Date of Listing: 19 April, 9am

Application Start Date: 10 April 2021, 7am

Application End Date: 15 April 2021, 12pm

Implied Market Cap upon Listing: 71.96 million

Implied FY 2020 PE: 17.9

Implied Trailing PE: 11.65

Predicted PE: 19.7 (Due to listing expenses)


Reasons to like this company

Resilient Sector – As the newer younger generation come into the picture, a changing type of taking care of elderly might occur and as the generation gets older, with lesser birth rate it means that the chances of elderly without kids is higher and these nursing homes come into the picture. Rain or Shine, economic crash or not, the demand is likely there unless a mass covid kills all elderly or something along that line.


Good Growth by 2025 – For anyone that can afford to wait, 16% increase in bed capacity from 2023 as well as a 44% increase in bed capacity from 2025. Hence this translates to a growth of 73% by 5 years. Which is good for a small market cap size company.


Asset Light Model – This meant that it does not have to worry about the land and its depreciation and instead offers a relatively low operating leverage.


Investment Property could be undervalued – The freehold land in Malaysia has not been revalued and a sale could provide good value. Currently rented to Columbia International School it seems.


PE not high by current market standards – This is in line with the markets at a higher side and the feel-good factor, the current PE does not look over-priced in this aspect


Recent IPOs all doing well – Surprisingly GHY Culture, Astrea Bonds, Credit Bureau Asia, Aztech have held up well on debut.


High ROE Business – Generating 3.8 million with 19.1 million of equity, a rather high ROE of 19.8%.


High Ownership Retained – Owner retails 80.5% of the company post listing. Indicative that its not so much selling out the company and cashing out intention.


Reasons to dislike this company

Delist and Relist Logic – Having delist back in 2012 at a market cap of 80.4 million and now relisting at a lower market cap, does not seem to paint a rosy picture for the business when it has been profitable the past 3 years.


Falling Profitability – Unfortunately, the company has profits fell from 5.4 million to 3.8 million from FY 2018 to FY 2020.


Staff Cost – With the recent news of healthcare staff getting a pay raise, this effect is likely to affect the company which has seen increased healthcare staff cost in the previous few years as well. With lesser staff this year (9), staff cost increased instead. All these point to a rising cost upcoming. As staff who feel that they are not paid well might consider job hopping to hospitals who should be hiring due to covid-19 and as well as vaccination drive.


Interested Party Transactions – A lot of private nursing homes run by the coy are rented from the owner and a sum is paid. As such, while the owner is unlikely to slap himself by charging an extra high amount, the same can be said for transparency as the owner owns the home charging rental himself while shareholders have a piece of being the rent payer.


Investment Property Yield too low – Rental Income of 216 000 in FY 2020, against a land value of 8.3 million. This translate to a yield of 2.6% which I am not sure if its good at all.



I can see a thesis for making a punt to apply and to make a quick profit on the listing day. However, I cannot see a long-term prospect especially with its staff cost heading upwards while its revenue is not heading upwards. Most of the 6 months FY 2021 results have been boosted by Job Wage Support which is not going to be repeated in subsequent quarters. The earnings will likely decrease soon before heading up again in 2025 or 2026. However, in the meantime, it is likely to experience a depressed share price due to its earnings.

Having said that, opportunity can arise as it wins more Build-Operating-Lease contracts from the government and expand from there. However, given by its current prospects, it’s not rosy.

Lastly, SPH made the acquisition of Orange Valley at an implied book value of 2.3 times. However, it subsequently wrote off some of its book. This implied that at 2.3 times it is over-valued. However, the listing this time is at a higher book value of around 2.5 times. Surely its over-priced as well?

(a picture says a thousand words but a word from the picture is enough to say the story)