Wednesday, September 10, 2014

The Poverty Cycle


Like a typical female, I feel a need to have a network of female friends (or acquaintances) who are in a similar life stage as I am. Read: Working Mother With Young Kid. So, what better way to marry social media with this age old need than to join the myriad of facebook groups out there. 

It is an eyeopener. You "hear" about mothers who face a lot of issues with mother in laws, husbands, kids, colleagues, everyone. You are exposed to people that you won't really have a chance to talk to in the real world. Under the cover of anonymity - if there is really such a thing in today's online world, you hear stories and learn about the mindsets of others. 

It comes as a shock to me that in this virtual world, there are quite a number of mothers who are so young and so financially dependent on their husbands / families for support. Twenty-three year old with 2 kids age 4 and 2 talking about divorce, finding an admin job, trying to get maintenance.  Nineteen year old talking about living with in laws because they cannot apply for BTO since they do not meet the 21 year old age criteria. Young mothers complaining about not being able to get subsidies for their first BTO because they and their spouse do not have an income in the past year. 

Blows my mind. 

Here we are, talking about retirement and worrying about making money on our next trade. These women out there are far far far away from any form of financial independence. And what's worse is that the children they have are not going to have the fancy tuition, the stable family that children needs to thrive. Hell, they may not even get 3 meals in a day or a complete family. 

And i wonder, how did it become like this? Can these children grow up and be like us - wondering about savings and retirement and being financially independent? Can they get out of their poverty cycle? The odds are stack against them from the beginning. It is not only the poverty that their parents are in, but also the lack of maturity on the part of the parents. No job, no savings, impulsive behavior, the blame game, the victim mentality. I am not trying to judge, or rather i am trying not to judge, but i am awaken to the fact that there are so many people out there who actually will never ever be able to retire early. and as a mother, my heart goes out to their kids. 

I try not to be one of those who just criticise the government and then when asked what could be done better, turn around and say i am not paid millions so i don't have to think about that. If face with a problem, I want to be able to have some semblence of constructive thought than playing the victim or blaming others.  No, i am not trying to be noble. I am just trying to rescue my brain cells and to have a better attitude to life. You are what you think. 

But I can't see a way out for these kids. 

Education? Yes, provided the education field is really levelled. with the sprawling number of private centres and private investors backed tuition centres (read: knowledge universe), it is going to be a tough fight for these kids. And that is why i think private centres should be regulated. 

Subsidies? A lot of these mothers like to think that they should be paid for staying at home and that will solve a lot of issues. Maybe. But i am not in favour of handing fishes out if you are not sure the fish will be eaten by the right people. Teaching them to fish is definitely better. I am also not certain their kids would be able to do better in life than others. 

A mentor / mentee program? There are some social programs for kids. Maybe. 

I don't have a clue. 


Thursday, August 28, 2014

ST Engineering - Buy or Sell?

ST Engineering has been on a downward trend. The initial reasons why i purchase this share is for dividends but i can't lose track of the profitability of the company. 

This is my first time attempting to make sense of the finance statements so let's give it a go! Grateful for any tips and tricks along the way!

ST Marine
- one of the subsidiaries of ST Engineering
- (36%) fall in EBIT 
- shipbuilding (one of three main areas of business beside ship repair and engineering) took a bit hit of (75%) for second quarter
- industry trend: Shipbuilding is in a difficult period due to too many shipping orders. Unlikely to trend up in near term. 

ST Kinetics
- one of the subsidiaries of ST Engineering
- (50)% fall in EBIT 
- automative dropped 89% 
- other areas would include: 

ST Electronics
- one of the few subsidiaries with higher profit of 10%
- software system up 33%

ST Aerospace
- (5%) in EBIT

Well, no good news at all, no wonder ST Engineering is on a downward trend. Better keep this on my watchlist. 

Grabbed this off Yahoo Finance. 

Market Cap (intraday)5:11.41B
Enterprise Value (Aug 29, 2014)3:10.88B
Trailing P/E (ttm, intraday):19.57
Forward P/E (fye Dec 31, 2015)1:18.30
PEG Ratio (5 yr expected)1:2.34
Price/Sales (ttm):1.74
Price/Book (mrq):5.77
Enterprise Value/Revenue (ttm)3:1.64
Enterprise Value/EBITDA (ttm)6:13.77

Financial Highlights 
Fiscal Year
Fiscal Year Ends:31 Dec
Most Recent Quarter (mrq):Jun 30, 2014
Profitability
Profit Margin (ttm):8.59%
Operating Margin (ttm):9.60%
Management Effectiveness
Return on Assets (ttm):4.81%
Return on Equity (ttm):28.14%
Income Statement
Revenue (ttm):6.63B
Revenue Per Share (ttm):2.13
Qtrly Revenue Growth (yoy):-0.70%
Gross Profit (ttm):1.43B
EBITDA (ttm)6:789.72M
Net Income Avl to Common (ttm):569.31M
Diluted EPS (ttm):0.19
Qtrly Earnings Growth (yoy):-10.00%
Balance Sheet
Total Cash (mrq):1.61B
Total Cash Per Share (mrq):0.52
Total Debt (mrq):983.98M
Total Debt/Equity (mrq):46.16
Current Ratio (mrq):1.47
Book Value Per Share (mrq):0.64
Cash Flow Statement
Operating Cash Flow (ttm):844.22M
Levered Free Cash Flow (ttm):118.87M

Sunday, August 3, 2014

SIA Engineering

SIA Engineering just came out with their quarterly results and its a bad bad thing.

Revenue is up a mere 1.6%, but expenditure increased 4.5%.

Contribution from JV decreased by 28.8%. And they just inked a JV agreement with Boeing lately.

The plane industry isn't doing too well what with the recent spates of plane crashes. Pretty scary shit indeed. Will people still travel?

I think the answer to that question is still a resounding yes. The general prediction is yes, flight travel looks set to increase and more carriers will ply the ASEAN route. Perhaps there will be more budget travellers and not first class passenger anymore. But planes would still have to be serviced. I see their tie up with Boeing as a big plus sign that they will get better deals in the future. SIA Engineering would have to be careful to take care of costs.

my money is still on this one.

Moving to Share Builders Plan

Goodbye OCBC.

So i was a fan of the OCBC blue chip investment plan but i bid goodbye to it a few months ago when June 2014 came to an end. Why? The promotional period was over and the cost price was to increase to a minimum fee of $5 per transaction instead of the 0.3%. The fundamental of a DCA ETF is to keep cost low. I understand later that the promotion was continued which made me really annoyed because I had already sold my shares in the blue chip investment plan.

So annoying.

But moving on. I have moved to the Share Builders Plan and hopefully, there will be no change in the long run. So yes, $6 so i can buy a piece of mind for no more unwanted increase in costs! This is going to be used for a fund for my kid's education as well as my hubby's and I's semi-retirement fund.

I am not one of those parents who believe in planning my kid's future right down to the property they are going to buy. I shudder when I think of my financial adviser's kinda crazy advice to me - he told me to purchase a life insurance for my kid, and think about putting lots of money into some investment plan on a monthly basis so that when my kid grows up, i can help him buy a PROPERTY! WTF?! I am not sure if he was trying desperately to make a sale but he started talking about how it is very common among his clients. But i do believe in helping my kid get a leg up so if there is something that he is passionate about later, whether starting a business or furthering his education, then at least i have funds for him. But it is not going to be handed to him on a platter.

Anyway, that is my round up on my moving to Share Builders Plan.

Update: I am still going to use OCBC though for my SRS account. I know it doesn't really make sense but SBP is not linked to SRS. And OCBC has not enough sense to allow one person to pay for their blue chip plan via SRS and ordinary account.



Thursday, June 26, 2014

Random Thoughts on Why Some People Spend More Than Others


There are a few ways to financial independence: 1) increase income 2) decrease spending 3) obtain income generating assets 4) marry rich 5) be born rich. 

Points 4 and 5 are out of my control. Point 1 and 3 is difficult for me at my current stage of life. Point 2, however, comes pretty easily for me. 

Unlike a lot of my peers, i don't feel the need to buy lots of new clothes, bags or shoes. I don't have the urge to purchase the next IT bag, or add to my very modest collection of branded bags. And I don't have the urge to go out to eat at fine dining restaurants, experience the coffee culture, explore expensive brunch places or eat at any Michelin star restaurant. My hobbies are relatively inexpensive - swimming, reading, spending time with my family and friends (although that may result in me blowing money on food when out with friends who do enjoy eating out), crafts and thinking about life. 

Which makes me wonder - why are some of us more prone to this desire to consume, to purchase, to spend? For that I turned to google and my own deep thoughts. 

1. Parental Influence. 
2. Advertising.
3. Peer Pressure. 

Parental Influence. 

My colleagues were all happily buying ferragamo shoes during a sale. When I queried the reason for this frenzy, the answer was surprisingly, it was a brand her mother, aunties all loved and hence, she also wanted to purchase ferragamo shoes when she is older. 

My friend clothed her baby in designer wear. Another of my friend remarked, so lucky! Baby gets to wear designer wear when she's so young. Another said, wow, baby will have good taste in clothes in future. Guess who is probably going to be an avid sucker of branded items?

Advertising

We are bombarded with this every single day - product placements in movies, endorsement by celebrities, commercials in all kinds of media. We are constantly being bombarded to buy, to consume, to purchase in order to feel happier, more successful, to have cleverer kids, to have a richer more fulfilling life. Corporations spend billions - yes billions to get you, me, our kids, to be suckered into this game of purchasing. I don't know about you, but i am going to be very careful what my kids watch on TV and on social media. Advertisers are going to reel your kids into this consumerism pattern real early. 



Peer Pressure

That's a tough one, even for me. I find it very difficult to talk to new people now. especially in Singapore, among certain groups of people. Conversations revolves around food places and food and food and food lately. i am not sure what is fueling the trend? I think my reluctance to food fads stems from the fact that i only really really love to eat homecook food. You go work and you see all these brands - shoes, bags, wallets, watches - i also want to own them all. Properties, cars, condos. oh well. 

Words of wisdom for all of us:


 

Friday, June 6, 2014

Portfolio and Dividends for May

D day = Dividends Day!

I am so excited. Ever since I decided to focus more on dividends stock, I am even more excited about collecting dividends. And May is a really good month for dividends players like me! 

So i am going to reveal my portfolio (for the first time ever) and the dividends received. 


Shares
Lots
Current Price (6 June)
Dividends for May
SPH
3
4.20
210
NOL
6
0.98
0
Keppel
1
10.7
300
Hyflux
4
1.22
96
Ascendas India Trust
6
0.79
139.20
Wilmar
2
3.24
110
AIMS AMP REIT
2
1.44
0
SIA Engr
1
5.02
0
ST Engr
2
3.72
0
Ascendas Hospitality Trust
4
0.745
0
Total dividends for MAY


855.20


This isn't enough to feed my lifestyle for a month. Based on my tracking, i need at least $3,800 per month, no thanks for my crazy mortgage. But yes, it is a nice bonus. Now to ensure i have more good shares that will give me good dividends play!

Wednesday, May 28, 2014

Good bye Mr CMA - tongue in cheek post!

Good bye CMA



Parting is such sweet sorrow! I first got to know Mr CMA in 2010 when he first set foot in the public domain. I bought into his sweet lies and we cemented our relationship when i purchased two lots of Mr CMA immediately once the price fell after IPO. He sounded like he had lots of potential - came from a good background, headed into the Chinese market, dealing with brick and mortar, and he had very strong credentials to boot. What's there not to love?

Two years into our relationship, things started feeling wrong. Dividends were never substantial. Prices started tumbling. He came from a good background but he never seemed to have enough money. But i thought - this rough patch would be over. Mr CMA was still building his career - he already owned more and more and more malls in Singapore and China. It would just be a matter of time before my wait pays off. I will dance into the sunset and this will be my happily ever after. I parted with my money and invested some more into Mr CMA. 

Time is never a girls' best friend. Fast forward to today, and my heart is a tad bitter. He dangled just enough gifts in the form of dividends to keep me waiting out for more. These gifts were never enough to please, less than enough to satisfy my waning heart. And as every girl know, a man's heart is easily captivated by the next pretty thing. So this pretty thing made me an offer price to get me off Mr CMA's back. I hesitated. She offered yet again - final offer. $2.35. 

What's a girl got to do? It is still an upside and a compensation for my youth. I'll take it and wait for the next guy to come along. Hopefully, the next one gives more and take less. 

Oh, parting is such sweet sorrow! 

(I've accepted the offer by Capitaland. Have you?)

Tuesday, May 27, 2014

Review on SIA Engineering

SIA Engineering

Ever since I had my kid, I realised that I just don't have enough time to monitor my shares actively. That's why I have decided to go more into blue chips as opposed to capital plays. 

After divesting my interest in Nam Cheong, I decided to use the proceeds to invest in SIA Engineering instead. 

 (image from: http://sgmusicwhiz.blogspot.sg/2011/11/sia-engineering-1h-fy-2012-analysis.html) 

From a macro point of view, the market for air travel is booming. We received a record 15.5 m visitors to Singapore in 2013. With the increase in budget airlines, I can only foresee an increase in overhaul and repair services and that is where SIA Engineering comes in. 

Although the profits has dipped slightly, I remain confident that this would not be an issue. Every industry is going to face this manpower issue with the tightening of foreign labour. 

Numbers which i like about this blue chip play:
1. Good cash flow. They have 14.78 m in cash v the total debt (both short and long term) of 21.80 m. No worries about interest rates rising. 
2. Great dividends. Dividend yield is at 4.4% and this company has been known for giving good dividends even when the going gets tough. 

Neutral stuff:
1. EPS at 0.24 - kinda low
2. Book Value at 1.22. So you overpaid for the asset by about 4 times. 

Wish me luck, guys! To financial independence! 

Wednesday, May 21, 2014

Review on AIMS AMP CAPITAL INDUSTRIAL REIT

Review on AIMS AMP

 I purchased 2000 shares of this counter as i believe it has good potential to hold long term. Good dividends, good management, good prospect! this one is a keeper (as based on current valuation) for a few years to come!

Summary of REIT

This REIT holds the following types of properties and they are all based in Singapore (save for the Optus Centre in Australia):

1. Warehousing & Logistics
2. Manufacturing
3. Business Park / Hi Tech

There is a need for more commercial space in Singapore. The general trend is online shopping and every vendor will need warehouse space. Manufacturing remains one of the pillars of the Singapore economy. Of course, this is a space that is heavily watched by the government, and they will move to build more space if and when the economy requires.

The dividend yield is high at 7.3%. Comparing with other REITS, the leverage at 31.7% is still manageable. NAV is higher than current share price, which is good news since you don't want to overpay for an asset.

As i try moving towards a high dividend play, hope i don't make any wrong choices! 

Wednesday, April 23, 2014

WHYMOOLAH AND HOW TO SAVE MONEY


This whymoolah game first caught my eye when i read about the founders in a magazine.

SG Young Investment then blogged about it and so I decided I had to try it! 



In my usual obsessive compulsive ways, I played the game at least 6 times! The first time I played myself, and made the decisions of getting married at 29 and having a kid at 30. Funnily enough, although i bought a condo IRL, i could not afford the same in virtual and had to settle on a resale HDB. This was because of the 60% TDSR mostly and my partner's paycheque. 

(A nagging feeling was telling me i should not have overspend on my condo!)

After playing the other 5 or more times. I realised that to maximise your net worth you should: 

1. GET MARRIED AS EARLY AS POSSIBLE
2. with step 1, then you can BUY THAT BTO
3. be a lawyer
4. DON'T GO for social gatherings or give your parents money 
5. DON'T have kids
6. start selling shares in stages when the auntie wants to buy 
7. start buying shares in stages when the man on the street wants to sell 

Heh, some of the above advice should be applicable in real life! 

Go PLAY it! It was fun for me. 

My second topic is on HOW TO SAVE MONEY

The inspiration of this piece? A friend approach me to be a guarantor for 80,000 SGD. Would you? 

I was a bit shocked. He had been working for about close to 10 years - mid 30s. He disclosed to me that he wanted to pursue a change of careers and needed money for an education loan. He only had 30,000 to his name as savings and needed this loan to tide him through the payment of the course, and his living expenses. He lives with his parents and has no car, no girlfriend, no mortgage. He was already at mid management level and was earning close to SGD 8,000. He never struck me as an extravagant guy who would buy fast cars, designer jeans or watches so i was a little shocked that he had so little to his name. 

After thinking about my friend's lifestyle, perhaps i had some clue to why he had so little and how one should save even if he / she was earning a pretty decent amount:

1. Don't take taxis everywhere. Each trip is about 20 SGD. In a month, that's like 600 - 1200 SGD!!!
2. Don't buy that daily designer coffee. Seriously, opting for a 3 in 1, or even a kopi from coffee and tea will give you a savings for 80%! buying that starbucks every day is going to cost you a whopping 150 SGD. 
3. Say no to expensive lunches. He has a habit of eating in a nice restaurant over lunch. That's fine but not on a daily basis! Save it for once a week when meeting up with good friends. 
4. Say no to too many holidays. What's with the trend of going bali for a weekend? you end up more tired than before! Savings? close to 2000 SGD annually. 
5. Brand conscious? Save for that splurge! Instead of buying so many bell & ross / tissot / rado, just save for that ONE ROLEX / Patek 






In short: Don't upgrade your lifestyle too much! Every penny counts! Stick with your daily KOPI! 

So after much thinking, i won't be agreeing to be his guarantor. Until he shows he can control a spending, that's only harming him.... not helping. 

Monday, April 7, 2014

Finding happiness in your job

Do you think this generation has it easier or worse than the last generation in terms of work?

For many, it feels worse. Many of us are in an office job and yet, feel far from satisfied. For those of us in a professional job, we look back in envy at our fathers' generation - they did well enough to easily save up for a landed property within a few years of work, for the lawyers, doctors and engineers among us? I don't think any of us can really do that within a few years. We probably have to be shackled to our mortgage and jobs for a few decades if we bought that landed property. Our fathers' generation had no blackberries, smartphones, emails. And no law suits (even if there were, there were few and far between). They commanded respect just by being a university grad armed with a degree. Our time? I am sure we know of some professionals but are deeply dissatisfied with their jobs.

However, i think the key difference is that if we were born in our fathers' generation, very few of us would have got our university degree. Only the very rich or the very intelligent would have made it to university and get the degree. Most of us would not have made it so far. So it is not a fair apples to apples comparison. There is an education inflation everywhere in the world.

Those who are earning a lot of money are now in the financial industry. Bankers, lawyers servicing the finance industry are the ones racking in the cash. Bankers way more so than lawyers. But everyone seems unhappy. With a year long bonus, some still whine that it is not enough for the pain they go through. i wonder why.

sometimes i think that the human being is not made to sit behind a computer editing word documents, or keying in formulas in excel spreadsheet, or drafting long unwieldy emails to confuse others. Doing 9 hours of this kind of work vs 3 hours in the hot sun? Most of us would choose the 9 hours of office bound job. But perhaps this is not what the human body was made for. We can't see the fruits of our labour. The email we type? we can' see how it affects others or make a change in the physical world. And perhaps that is why, the paper pushing lawyers, the excel spreadsheet bankers are just clamoring for more money, more money as a salve to their pain. The pain which they do not even understand.

My take? We can't stop the modern madness. Get in touch with nature. With people. With the sakura flowers that are blooming everywhere, organise a little picnic with your family. I think that is the only way to balance out the glowing screens that is sucking the happiness from our jobs. And most importantly, count your blessings. Breathe. Smile. Live. Exercise.


Friday, April 4, 2014

Share Update - Nam Cheong

Sold Nam Cheong @ 0.355

I was pleasantly surprised that Nam Cheong went up a fair bit this morning. The financial reports for this share has been really positive. I must admit I have not looked at its financial report myself, and have merely read recommendations from various brokerage houses on this.

Well, the reason why I sold this was because I want to move my portfolio into a dividend based one. I need all the spare cash I have to purchase higher dividend yield shares. When i purchased this share awhile back, it was really based on a whim - you know how you just feel like punting on a good share? Yes, that is why i bought it. Not the best of reasons. With a family and work demands, it is just impossible to do this kind of punts on a regular basis. There are weeks and months last year where i just did not look at the share market or even read the news! and that is a big no no if you put money where uncertainty lies.

I know the TP for this is about 0.45 but in light of the uncertain market conditions, I think I will play safe and pull out of this stock. I do expect the share price for this to trend downwards next week, and if it does fall to a level i am comfortable with, I may pick up a little bit just for the sake of satisfying my risk taking appetite.


Friday, March 28, 2014

Can anyone afford to be a SAHM and still save for retirement

"Cat's In The Cradle" by Harry Chapin 

My child arrived just the other day
He came to the world in the usual way
But there were planes to catch and bills to pay
He learned to walk while I was away
And he was talkin' 'fore I knew it, and as he grew
He'd say "I'm gonna be like you, Dad
You know I'm gonna be like you"

And the cat's in the cradle and the silver spoon
Little boy blue and the man on the moon
When you comin' home, Dad
I don't know when, but we'll get together then
You know we'll have a good time then

My son turned ten just the other day
He said, "Thanks for the ball, Dad, come on let's play
can you teach me to throw", I said "Not today
I got a lot to do", he said, "That's ok
And he walked away but his smile never dimmed
And said, "I'm gonna be like him, yeah
You know I'm gonna be like him"

And the cat's in the cradle and the silver spoon
Little boy blue and the man on the moon
When you comin' home, Dad
I don't know when, but we'll get together then
You know we'll have a good time then

Well, he came from college just the other day
So much like a man I just had to say
"Son, I'm proud of you, can you sit for a while"
He shook his head and said with a smile
"What I'd really like, Dad, is to borrow the car keys
See you later, can I have them please"

And the cat's in the cradle and the silver spoon
Little boy blue and the man on the moon
When you comin' home son
I don't know when, but we'll get together then, Dad
You know we'll have a good time then

I've long since retired, my son's moved away
I called him up just the other day
I said, "I'd like to see you if you don't mind"
He said, "I'd love to, Dad, if I can find the time
You see my new job's a hassle and kids have the flu
But it's sure nice talking to you, Dad
It's been sure nice talking to you"

And as I hung up the phone it occurred to me
He'd grown up just like me
My boy was just like me

And the cat's in the cradle and the silver spoon
Little boy blue and the man in the moon
When you comin' home son
I don't know when, but we'll get together then, Dad
We're gonna have a good time then

This song makes me very sad. My little one is growing up so fast. In a blink of an eye, he can now walk and gesture to bring his point across. My job is great because i get to leave work on time, but it still requires me to be at a certain location from a certain time to a certain time. And by the time i am done fighting the peak hour traffic, i am so so drained. I don't know how other mothers who work long hours does it. I just know i am missing out on parts of my little one's life and it makes me sad. 

sometimes i feel like quitting and just saying i want to be the domesticated goddess - cook, clean and watch my little one grow up. but how does that square in with the reality of living in singapore, a fast paced modern city where inflation increases at an alarming pace and materialism and consumption is at sky high? 

what did our parents do? was it easier or worse back then? i don't think anyone kept late hours then. my days as a kid was predictable. my mum went off before 9 am, my granny would sent me to kindergarten by 10 am and i came home at 12 pm. lunch, nap, day dreaming and then my mum would come back home before 6 pm. dinner, tv and bed. simple. 

now? i think most of us office warriors would consider ourselves lucky to be home before 8pm. 

SAHM? possible?

Wednesday, March 19, 2014

Inspired to blog (seriously) again

It has been nearly three and a half years on since my last post on Wing Tai. Sadly, I have not done major thinking / investing in these three and a half years. My personal life has moved in leaps and bounds though - I changed jobs (for a worse deal in monetary terms) but I got married and have a one year old baby. I also bought my own property to live in since I got married.

So what inspired me to post this? This post. Not merely because the author's life resonates with my life - growing up in a lower middle income family and my (used-to) endless comparisons with others on money BUT because of the sagely advice the investing community gave to him after. It warms the cockles of my heart knowing that as much as the investing community is about making money, we are making money for a purpose, not as an end in itself, and that we truly care about imparting the right values to others.

Anyway, since this is a financial blog, I have decided to discuss the recent additions to my small portfolio and to share my portfolio through this platform. Hopefully, this will spur me to be more disciplined with my investments.

SIA Engineering 

I bought 1 lot of SIA Engineering at 3.78 recently. Reasons for buying this share? Click here for key statistics.

1. I have decided that dividend stocks are the way to go in this 6 year bull market. SIA Engr has a dividend yield of 4.6%
2. 5.42B market cap and gross profit of 796M. If gross profits remains the same, it would take about 7 years to break even, assuming that I had paid in full to a private buyer for this company. In other words, this is a company that a real investor would be keen in.
3. Leverage free cash of 40 m. Cash is king!
4. Growing industry. We are expanding to have even more terminals. i.e. even more planes to land in Singapore. Surely SIA engineering would have better business? Also, with the boom in budget airlines, i think more servicing would be required.

Not so good stuff:
1. Unfortunately, i never really read why the yoy quarterly earnings is a negative sum
2. book value per share is only 1.16, which means i am overpaying by 4 times (P/B ratio) for my shares
3. PEG ratio of 3.75 seems a bit high to me
4. only bought one lot because i wanted to conserve my smallish war chest.

AIMS AMPI REIT

I bought 2 lots of this REIT. Reason for buying this share?
1. high dividend yield. remember? i want to go into dividend stocks now.
2. commercial properties / warehousing / logistics space. I think warehousing is something that would be highly in demand in the future. With more online shopping / online shops, these shops need space.

Updates on Wing Tai 

Since my last post was on Wing Tai, i will give a short update. I held Wing Tai through the years, and sold it off early last year. I did not sell during the share buy back. My selling price was 1.95. Pretty ok, but it went up as much as 2 dollars plus after that. I am still looking at it - when it went down below 1.7 i really wanted to buy recently but did not make the purchase. Property market is shaky (which sucks for me) but in the long run, i think Wing Tai will still do well.

I will try to share my portfolio the next time. For now, I plan to sell off some US shares to get more power for my war chest!