Investment on the Singapore Stock Exchange

OCBC stock challenge

2008-09-05T23:21:00.000+08:00

Hi guys, ever since school started, i dun even have time to look at annual reports. So i decided to force myself to make time for it, by joining the OCBC stock challenge starting next monday... Wish me luck!

Finally.

2008-06-23T22:40:00.000+08:00

Sorry guys and fellow readers, have been caught up with NS stuffs, but now i am released (actually on long leave la), so can put more effort in some analysis le, but i need abit of time to catch back the reports as well as apply some new skills. Stay Tuned!

Investment: Eastern Holding

2008-01-27T22:22:00.000+08:00

Hi readers, over the last few weeks, i was busy with my NS stuffs. The last few days, just before the market rebounds, got people ask me to take a look at CNA and Eastern Holding. So i going to post my findings between this 2 companies.

CNA, base on price of $0.325, 06 annual report

Price/Earning per share 6.54

Return on Equity 11.44%

Price/Book per share 1.343

Debt to Equity 0.79377

Price/Cash Per share 5.4593

Current Ratio 1.53075

Quick Ratio 1.48824

Dividend Yield 0.45%

Net Current Asset per share $0.2852

NAV 0.242079046

Eastern Holdings, base on price of $0.18, 07 report

Price/Earning per share 1.833549183

Return on Equity 16.14%

Price/Book per share 0.740535189

Debt to Equity 1.501830706

Price/Cash Per share 1.7152

Current Ratio 2.419231439

Quick Ratio 1.137644806

Dividend Yield 3.20%

Net Current Asset per share $0.33211

NAV 0.2430674

Well, from the above, you can see the difference in the PE ratio and the Return on Equity, base on this 2 factors, one can view that Eastern Holdings is a better company to hold for long term. However, one cannot discount the water treatment, air ventilation and the upcoming projects of CNA. But for now, I will choose Eastern Holdings over CNA.

Back From Tour

2008-01-10T14:57:00.000+08:00

Hi dear readers, i am back from the tour. For more information about the tour, can visit my personal blog at http://www.radiantarchangel.blogspot.com/. Meanwhile, i read alot of emails saying this year is a bear year and so on. Well i think i should start to tabulate a lists of 'must buys' so that i can maximise on the advantage of the bear market.

Investment: Networking in China

2008-01-01T11:15:00.000+08:00

Hi my dearest readers, i am going to China from 3 jan 2008 to 10 jan 2008 to relax and do some networking. Hopefully got time to drop by some factories (CG tech), haha. Meanwhile, stay tuned for my newest companiesview on China HongXing.

Happy New Year to everyone out there, HUAT HUAT!

Gathering on 21 December 2007

2007-12-21T23:05:00.000+08:00

Well... today's gathering, not many of us turn up, only fergus (organiser), eds, et (and her bak kwa), cse and me. We had dinner (except et), and we chatted about quite alot of stuffs.

Resolution of the next year, learn about CFD and shorting... a good trader must be able to make money in both direction of the market!

Hope we get to meet again soon... because i feel that speaking face to face feels must better than chatting online!!! Hope Trader hears that!!!

Oh ya, now in the process, my company blog at http://www.shortcircuitcomrepairs.blogspot.com/
Will post here once that side is all ready... stay tuned and huat huat everyone!

Its official: Short Circuit Computer Repairs (Registration No: 53106440M)

2007-12-12T23:03:00.000+08:00

Yea finally, i got my business registered and so on. Have been busing setting up my business and doing all the admin stuffs, such as accounts, adverts, bizfile and so on. But i have been monitoring the market, waiting for the fatal blow... Thats all, work work work! Looking forward to out ninja outing!!!

Short Circuit Repairs Pte Ltd

2007-11-20T22:29:00.000+08:00

Hi dear readers,
Just to tell you all that i am setting up a new company doing simple computer repairs and upgrades. Free consultation for now and do not worry about the payment. If i cant repair it, i wont charge you any money (not even for transportation). I do house visits as well. So spread the word around. Thank you all very much!

If your house got any elderly that would like to learn a thing or 2 about computers, i have middle age tutors that is patient and sympathetic towards mature learners. Any lobang can just drop me an email @ miketong240286@gmail.com

Investment:If you got the money and the US market do not crash tonight...

2007-11-20T18:43:00.000+08:00

The following is a list on stocks to buy and hold as they are damn cheap now, not an inducement to buy, buy only if u got the cash:

1) Chip Eng Seng
2) ARA
3) Asl Marine
4) Ausgroup
5) C&G industrial
6) Capitaland
7) CAO
8) China HX
9) Couragemarine
10) HLN tech
11) SMRT
12) Synear

Just some food for thoughts...

Investment: Ecowise

2007-11-19T13:11:00.000+08:00

Using FY06 financials and $0.72 before the rights issue, the following are the calculations

Price/Earning per share 15.01
Return on Equity 21.27%
Price/Book per share 5.186
Debt to Equity 0.62411
Price/Cash Per share 12.6801
Current Ratio 1.90110
Quick Ratio 1.81740
Dividend Yield 6.25%
Net Current Asset per share $0.1350

The carbon credit sale will provide Ecowise with an income of roughly $1,596,000 (using $16.80) and this will not affect FY07 financials as stated in the papers.

Thus i am giving Ecowise an instrinsic value of $0.60 after the warrant effect. Due to the good ROE and an additional source of income through the Carbon Credit sale. instrinsic value is calculated using DCF and DEPS.

Investment

2007-11-04T12:49:00.000+08:00

Its has been a volatile week, with all the oil prices and all the companies' results showing strong fundamentals. Investors and traders must have been through a roller coaster ride. Well for me, i have been sitting on the sideline for a while. I have been compiling a list of companies that can buy if it falls to that certain price. Some of my readers will say, 'no way these companies will fall to those prices again' However, you will never know when recession will come again and these companies will fall again. So I might as well compiled a watchlist of the 'buy-in prices' for some of the companies so that when 'that time' really come, i dun have to rush to the charts and check everything. I have compiled a variety of watchlists, which also showed the dilemma that i am in during the past few weeks.

For those readers who have been following my blog, i began by looking for First Tier companies:
Capitaland, ChinaAngel, CAO, China Hong, China Sky, China Sports, Chip Eng Seng (aka chippy), City D, Cosco, Fibrechem, Midas. Of course there is many more of first tier companies out there. And then i thought, i cant really afford these companies given my limited capital.

Thus, i move on, with lowest entry price for companies.
Companies, Entry Price
CourageMa, 0.20 AsiaPower, 0.25 ChuanHup, 0.290 Chip Eng Seng, 0.645 Tiong Woon, 0.885 BH global, 0.410 C&G industrial, 0.55 Food Empire 0.70 Int Roller, 0.710 UOBKayhian, 1.39 ChinaAOil, 1.79 Asl Marine, 1.00 Ausgroup, 1.27 Swiber, 1.20 Raffles Edu, 1.40 Olam, 2.00 Hyflux, 2.05 Cosco Corp, 2.70 SPH 3.86, Ezra, 4.40 Capitaland, 6.05

This method works to a limited extent. After much reading, i found out this is the graham way of investing, buy cheaply, and wait. However, as you can see, some price maybe reasonable to wait for, however some others are just too impossible unless there is something really big that can cause such an uproar.

Finally i move to companies that have consumer monopoly:

SBStransit (Duopoly in Transport), SGX (Dont really need to elaborate), Singpost (Monopoly in residential Mail), Singtel (Leading in Telecommunication), Smrt (Duopoly in transport), SPH (Monopoly in Media). These 6 companies have their own way of monopoly or acting like a toll gate to services (like in order to use a handphone, you need to have a handphone plan.) Of course there are more, that i will go looking for it. Which as time allows, i will update this blog respectively.

Meanwhile, i am looking at Raffles Edu and ARA.

Enlightment part 1

2007-10-21T13:44:00.000+08:00

Dear readers, its been a good 1 month of reflection. During this month, many things happened on the stock market, from the S-shares flying to institutions predicting that there will be a pullback. However on a personal note, i have been reflecting on the past half year of my investments and trades. Ever since starting out in February, i have tried all kind of strategies and methodology of the market. From value investment to rumour playing, from contra to shorting, of course at the end of it, i lost money.

Now, some of you may say, 'serve him right, or i already say that stock market really make one lost money...' But i feel that these monies that i lost is money well spent. Like what Master Ninja once said, its only when you lost money, then you wont repeat it again. Fortunately for me, i think that these money gone is small compared to big time traders and investors. Thats all for my post today.

Investment: Reflection

2007-09-16T14:45:00.000+08:00

Every now and then, i believe everyone will sit down, look at their trade records and determine is their strategy working for them, during the last few weeks, i have been thinking long and hard about my strategy. Is there a need to revise them? How can I improve them instead? Well there are still some stuffs that i cannot get through, meanwhile, hope to gain my 'light' soon, before i reenter into the market!

Stay tuned

Investment: Oakwell

2007-08-28T23:06:00.001+08:00

Dear friends, for this company, i cant find its competitor, anyone can care to share, just post on the tagboard.

Its ratios as such:

Price/Earning per share 29.82
Return on Equity 2.33%
Price/Book per share 0.694
Debt to Equity 1.43316
Price/Cash Per share 8.0694
Current Ratio 1.46565
Quick Ratio 1.06063
Dividend Yield 8.33%
Net Current Asset per share $0.1402

IV for Oakwell: using DCF, with a cash flow growth rate of 13.28% and discount rate of 5.75%, its 0.22. Using DEPS, with a EPS growth rate ofm 44.22%, eps of $0.0033 and discount rate of 5.75% is $0.26.

Investment: InvestFair 2007

2007-08-26T00:08:00.000+08:00

Hi guys, i know that i am away for the past 2 weeks. Well today (or rather yesterday), i went for the invest fair at suntec level 4. I went for the investment merits seminar for a few companies, such as Midsouth, C&O and KSH. I also learnt about the Zero Certs by ABN Amro too. I will do my research on them soon, and they seems to be quite sound.

But something that i want to highlight is the seminar by Melvin Yong (CNA guy) on: What's Hot and What's Not for the year 2007. In this seminar the panelist is:
1) Kevin Norbert Scully from NRA Capital Pte Ltd
2) Ooi Ltd Seng from Societe Generale
3) Song Seng Wun from CIMB-GK Research
4) Terence Wong from SIAS Research Pte Ltd

Not in any order, i will just report here whatever i can remember from the 45 mins panel:

The recent rally maybe a 'dead cat bounce', and recommended to sell into rally while still can. The recent cut in the fed rate is a sign of diminished confidence. As Kevin stated, if the US govt never reduce the fed rate, it may be a show of 'the sub-prime loan problem is a small one and we can control it in due time'. However a cut in the fed rate shows that the sub prime loan problem is not that small afterall.

From Ooi side, he kept mentioning that the fact that as a issurer of Warrants, he and his company have to keep a neutral stand, thus the only obvious sign he stated is that, 'the number of people buying put warrants have increased...'

From both Song and Terence, they shed a few stock picks and their view on the economy.

Terence was cautiously bullish about this selldown, saying that there were many opportunities presented this time round. He mentioned about 3 things, 1) Take note of companies that do with domestic demand (Singapore), 2) He also state that Oil and Gas Sector is still his play and 3) He loves dividend plays. Thus to sum up the sectors that he will look into, will be oil and gas, properties, construction and Marine and offshore sector. He feel that out of the 3 banks in singapore, UOB is the safest, saying that 'for a bank who dun know its exposure to CDO, its dangerous...' He also stated that many of the REITs are quite defensive.
Stock pick by Terence: One of his picks is Babcock and Brown. For oil and gas, Blue-chip, Sembcorp Marine and Keppel, there is also Cosco Corp. Properties, he mentioned about there is actually small cap properties that has good fundementals albeit smaller margin, one of it is BBR. Marine and offshore is but of course Rotary.
One thing that Terence emphasied (repeating 3 times throughout the seminar) is that to avoid Penny stock, or junk caps as he mentioned it. they will shed about 80% to 90% in this selldown.

Whereas for Song, he is quite bearish about the economy, stating that the European market has pumped in about 600 Billions into the market to stablise it, and for a mature market to pump in that much, the situation is really quite dire. 5 to 6 months is the time he give to this selldown. He also mentioned that Japanese Banks is not able to sustain the low interest rate, and if they were to increase their interest rate, it maybe a repeat of the 1997 economic crisis. He also mentioned that the Oil and gas sector has book orders all the way til 2010, however, he said, having book orders is good, but the quality of the book orders must be there. Construction sector in Singapore is also set to go, placing Tat Hong and Tiong Woon as his picks for the construction sector. He also mentioned about the spillover effect to other companies related, like a wiring company, (which i cant catch the name, anyone readers know please tell me, it was noisy there).

When ask about how they see STI will be heading for the remaining of the year, they all agree that 2800 to 3000 is something not impossible to happen as any more 'bad news' will drive the market downwards. Song mentioned about next friday's Ben Bernanke's views on the Housing and Credit Market will show the direction of the market. He also said that the domestic market in US is weakening and that is a sign that we (investors) should take note of.

Investment: Pine Agritech

2007-08-13T16:28:00.000+08:00

http://www.ocbcresearch.com/pdf_reports/company/Pine%20Agritech-070813-OIR.pdf <<<<< Newest Report from IOCBC, which seems pretty powerful in affecting the share price of Pine.. Enjoy!

Investment: Pine Agritech vs Celestial

2007-08-12T23:38:00.001+08:00

Dear readers, finally i am back with slightly more time on hand. Today i will compare 2 soyabean companies namely Pine and Celestial. In this post i will compare just the ratios, if time permits, i will do a detailed valuation on these 2 companies. Meanwhile an Appetiser for my dear readers.

For Pine Agritech, using $0.42 price:

Price/Earning per share: 10.65
Return on Equity: 33.25%
Price/Book per share: 3.541
Debt to Equity: 0.18431
Price/Cash Per share: 17.1274
Current Ratio: 3.26069
Quick Ratio: 2.44445
Dividend Yield: 1.71%
Net Current Asset per share: $0.0591

For Celestial, using $1.32 price:

Price/Earning per share: 11.33913343
Return on Equity: 12.19%
Price/Book per share: 1.382740937
Debt to Equity: 1.171009088
Price/Cash Per share: 3.0309
Current Ratio: 4.575615793
Quick Ratio: 4.448987851
Dividend Yield: 1.52%
Net Current Asset per share: $0.61538

The above 2 companies used to be trading at PE of 14x, now they are considered fairly undervalued. Tomorrow is Pine's results announcement, i wonder how it turn out... Huat ah to everyone who managed to get their fair share of good FA companies.

Investment: Bargain Hunting

2007-08-06T09:58:00.000+08:00

Companies that can be bargain hunted during this trying times..

1) ASL Marine
2) Asia Power
3) C&G Tech
4) Pine Agritech
5) Midas (Subject to Corruption Rumours)
6) Courage Marine
7) Ausgroup
8) Synear

The above companies still have very sound fundementals. Solid and unaffected by the recent selldown. Take note :D

Apologies

2007-07-22T18:38:00.000+08:00

Dear readers, i really sorry that i replied your mail so late, because of the recent committments with '9 of august'. And i just completed the heritage run on saturday. Really apologise for it. For those who volunteered to be my beta tester, thank you all so much.

Please give some valuable feedbacks on how i can improve on it...
For now, i think i will just give the IV of some of the companies in the tagboard requesting...
Since ET requested for Rotary, the following is its financial ratios:

Ratios for Rotary:
Price/Earning per share :15.78

Return on Equity: 10.55%

Price/Book per share: 1.666

Debt to Equity: 1.36541

Price/Cash Per share: 5.1489

Current Ratio: 1.74834

Quick Ratio: 1.70711

Dividend Yield: $0.12

Net Current Asset per share: $0.6406

IV for this counter: $2.05

Investment: Good 1 Day Correction

2007-07-19T20:32:00.000+08:00

Dear readers, lots of stuffs happening, yesterday's correction is a good shopping day,

A few good FA stocks can take a look:

1) ASL marine
2) Pine Agritech
3) Ausgroup

Take a look at them, if u into value investing! :)

Investment: China Olympic Related Companies

2007-07-09T12:21:00.000+08:00

Dear Readers,
Sorry for such a late post, for now, i will post information regarding to which companies may have a spill over effects from the 2008 Beijing Olympics. They are;

1) China Hongxing (Sport shoes : Retail)
2) China Kangda (Food: Retail)
3) Cosco Corp (Marine: Services)
4) Hongguo (Ladies Shoes: Retail)
5) Metro Holdings (Shopping Malls: Retail)
6) Sunpower (Electricity: Utilities)
7) Synear (Food: Retail)
8) Yaan (Security: Services)
9) LongCheer (Handphone Casing: Services)

I am still doing a research on LongCheer to determine its value. Will post it once it ready.

Investments: Courage Marine

2007-07-01T14:44:00.000+08:00

Before i start, i would like to personally apologise to Donmehaihai, my previous figures on Noel is taken from Businessweek, and it prove that a website also can provide me with wrong figure, thus for the past week, i have done my own excel spreadsheet with all the formulas done up and do my own calculations. These are the renewed findings:

1) EBITDA =$2,662,000 (earnings(11,184,000+interest(337,000)+tax(439,000)+depreciation(702,000)-Extraordinary item(10,000,000))
2)PE is 6.22
3)ROE is 11.53, using EBITDA/Equity
4)Price to Book is 23.263x
5)Debt to equity is 0.168
6)Price to Cash per share is 50.35x

To me, Noel still look good, but not as good as when it is at 0.205 (now is 0.235), when i first shouted this stock. Just to note, there is a point when this stock run to 0.315. I still believe in this stock.

P.S: Who want the spreadsheet, can email to me @ miketong240286@gmail.com i am more than happy to have beta testers for my spreadsheet. :D

Now on to Courage Marine:
For its competitor, i chose Chuan Hup as a comparison as they have similar Market Cap.

Valuation:
Courage Marine: Current Price is at 0.345
P/E: 13.14
ROE: 34.38% (Using Earning, not EBITDA)
Price to Book: 4.518x
Debt to Equity: 0.119
Price to cash: 14.155x
Quick Ratio: 3.64x
Dividend Yield: 1%

IV(using Discounted Cash Flow): 0.58 (using 3 years CAGR of 21.36%)

Chuan Hup: Current price is at $0.405
P/E: 30.441
ROE: 85.65% (Using Earning) and 4.54% (Using EBITDA)
Price to Book 1.3827x
Debt to Equity: 0.114
Price to Cash: 15.9826x
Quick Ratio: 1.8988x
Dividend yield: 3%

IV(using Discounted Cash Flow): 0.60 (using same CAGR as Courage Marine)

Elevator Pitch: Courage Marine Group (Courage) owns and operates a fleet of dry bulk carriers and provides a range of marine transportation services. The Group provides transportation services mainly for commodities goods such as coal, cement, iron ore etc to Russia and mainly to countries in the Asian region. Its Net profit increase by 42% year on year.

Value proposition:
A) Business Strategy and Plans
Expansion and Upgrades
Improvement of the technology on board the ship is stated in the Annual report, of which i believe is essential part of its business. It mention about additional safety and more advance navigation system, which i think will attract customers.
Reduction in ballast days (Days ships were carrying no cargo)
I think the company realise that this is one good way of improving the margin of the company. By reducing the idle day of its ships, i think Courage will maximise (another word squeeze dry) its ships, and in which, Courage realise that she needs more ships!
Expansion of Network
I like it when a company build office in its frequent customers' countries. Because nothing beat convenience, thus when i read that "... we plan to expand ... Hong Kong and Taipei operations and establish our Shanghai and Qinhuangdao offices inthe People’s Republic of China (“PRC”). Our increased presence in Hong Kong and Taipei enables us to undertake more extensive marketing to customers in these countries and to increase our managerial and operational capabilities beyond the comprehensive range of services offered." My mouth goes 'wow', this company really knows the direction she want to go!! I believe the new office can provide a good network between Courage and her customer.

B) Experience Management
This is a funny thing that i realise when i read about the annual report, is that its uses second hand ships, yet they can control the cost of the ships. According the the AR, they attributed it to their directors as shown: "Despite the higher cost of operations, repairs and maintenance that
one would expect of a relatively older fleet, our Directors’ technical skills and experience enable us to effectively contain such costs." and "Leveraging on our Directors’ networks and contacts in the shipping industry, we have been very selective in our purchase decisions." From this i can only say Courage' Directors are her greatest assets. Not only their purchase decision was good, their experiences are invaluable. Powerful indeed! Lets see who are the directors behind this:

For accquisition of second hand ships is:
Chiu Chi-Shun (Director of Systems and Standard Compliance)
This guy is the whose "... key role is identifying second-hand ships in excellent condition suitable for acquisition, drawing from over 30 years in ship design, building, and maintenance.

For repairs and maintenance is:
Chen Shin-Yung (Director of Technical, Repair and Maintenance)
he "...comes with more than 30 years’ experience in the shipping industry in supplies, repair and maintenance. As the Group’s Technical Director since 2001, he is responsible for the fleet’s overall technical management."

If anyone realise, their directors all experienced old man, which led us to think, who will take over them once they move on.. hmm..

C) Strong Assets & Cash Position
Compared to Chuan Hup, which is more diversified, Courage has stronger assets than it, excluding Chuan Hup's investment in shares. In terms of core business in shipping transportation, Courage is stronger. One thing about companies i realise is that, if your core business is not that established, try not to diversified. Look at Eng Wah and its Crazy Horse! Well but this can be arguable as readers may say that Chuan Hup diversification in Properties and bonds is to ensure good returns even in negative events. But i still think establishing Core business is like building a stronge economic moat, just like Cosco! I think Courage is working its way to be the next Cosco if possible.

Courage's ROE stands at 34.38% which is a very promising figure, and in addition its price to book is only at 4.518 times. Her debt to equity stand in similarity to Chuan Hup's at 0.119, which is quite good given that they are capital intensive companies. But one thing i want to note that Courage is superior than Chuan Hup is its Quick Ratio, Courage's 3.64 times compared to Chuan Hup's 1.89 times, shows that Courage's has more than enough to cover its immediate obligations.

At the current market price of $0.345, the risk-reward ratio is skewed in the investor’s favor. We consider the worst downside to be limited to the cash floor of $0.298. Courage should turn in EPS of $0.04for FY07. Applying the annual growth rate of 21%, the fair price is at least $0.58 within the next 3 years. Hence, the upside potential return of 68.12% from the current price compares favorably against the downside risk of 13.62% to the support level.

Risk:
A)Mis-management of the rich cash position.
Lets just hope that Courage does not diversify like Chuan Hup. From my point of view, I feel that Courage should purchase more ships, regardless of whether is it second hand or not. Because of the rising demand in the region, especially from Asia. If Courage made a wrong investment, or acquire a poorly managed company, the cash will return a negative rate on investment. Thus, we must keep a look out for FY07,08 and 09, to make sure they make a good investment using its cash.

Drivers:
A) Uses of second hand ships
I feel that one of its strongest drivers is Courage's director's ability to buy good second hand ships to run the show of Courage. With this, once Courage overtake Chuan Hup in Shipping Transportation, it will be a company to be reckon with.

B) Clear Vision and Management
I feel that Courage knows its needs and area of improvement such as the issue on ballast days and they are very focused compared to Chuan Hup. With the rising economy, i believe it will do better than Chuan Hup.

Investments: Companies In View, New Ratios.

2007-06-24T14:50:00.000+08:00

Its really tough to find undervalued companies now, as the market is continue to boom positively, as stated in http://extraordinaryprofits.blogspot.com/2007/06/stock-alert-update.html. However there are still a few companies which I want to look into and research, they are:
1) WesTech Electronics
2) Aussino Group
3) Courage Marine Group

In addition to that, i would like to include a few more financial ratios that i understand recently. They are price/cash flow per share (lower that P/E is a signal), current and quick ratios (measuring the company's liquidity, of course higher the better), and dividend yield (for long term holding).
Plus, the next research, i am going to include something call the industry average as well, as i felt that it would be more indepth if i can compare my research results with the overall industry competitiors as the subjectivity will come into place.
Stay Tuned!

Investment: Noel Gifts International

2007-06-17T14:15:00.000+08:00

(A)Stability in its Core Business
One may say that Noel is a boring company. Noel is a mature player in the premium retail industry with over 800 creative floral arrangements and quality gifts. Just the brand Noel, is already a strong economic moat for the company. Noel has dominated 40% of the market share despite the high compeition. It have leveraged on almost all the seasons and reasons available, such as the most recent Father's Day.
With extensive network with various hotels, event management companies and online shops such as Yellow Pages commerce mall, Yahoo! shopping, Noel has position itself to be the 'name first pop in your head' if a company require such a service.
(B)Property Investment
Noel have entered the property market since 1987. Throughout the many years since, it has made a few property investments, of which all was profitable. The most recent property investment is a 25% stake in an exclusive residential development, Balmoral Crest. What we can look forward is that Noel will continue to focus on its property division for the many years to come.
(C)Cash Rich Position
Noel is standing at $12,465,000 after clearing all its long term debts, and giving out 34% dividend yield in 2006. With such a strong cash position, with appropriate planning for the future, and the perpetual focus on property investment, Noel can be a company with renewed rewards if the cash is properly invested.
(D)Strong Financial Outlook
With the recent improvement of 60.5% in the first half attributed to strong economy, we can see Noel to continue its improvement in the second half as many of the festive seasons such as Chinese New Year, Valentine Day will be ready for Noel to provide for.
Noel has net current assets $0.168 per share and standing at a EPS of forecasted at least 1 cent for the year 2007. Noel's compared to industry, its ROE is at 48.42% (pointed out by donmihaihai) and its EBITDA margin is at 9.18%. It has a very good quick ratio of 1.9x
(E)Value-Added Events
Long term view for Noel can be very excited as many events such as F1 Racing and Opening of Intergrated Resorts. Such events normally has spill over effects, both direct and indirect to retail companies. Hotel will repackage themselves for these events will utilise Noel's premium service to ensure that they remain aesthetically positive.
(F)Establishment of online gift business
Recently, Noel has won the Hitwise Online Performance Awards for being the Number One website in the category of Shopping & Classifieds – Flowers and Gifts for 2006. I believe as people are more internet savvy, this will be another channel for Noel to position itself to be the one-stop gift shop for everyone.
(G)Strong dividend Yield and willingness to shares its gain with shareholders
Noel aims to give at least 20% of its earnings back to shareholders as an appreciation for their loyalty. Especially in FY06, when they sold their building away for a whopping $9,8M, they gave out a total of 7.3 cents per share or 34% yield. This shows the management's willingness to share and think like their shareholders.

Valuation:
At the current market price of $0.215, the risk-reward ratio is skewed in the investor’s favor. We consider the worst downside to be limited to the cash floor of $0.190. Noel should turn in EPS of $0.015 for FY07. Applying the annual growth rate of 35%, the fair price is at least $0.50 within the next 3 years. Hence, the upside potential return of 132% from the current price compares favorably against the downside risk of 11.62% to the cash floor.

Risks:
(A)Mis-management of the rich cash position
Even though this may not be likely to happen, however, to err is human. If Noel made a wrong investment, or acquire a poorly managed company, the cash will return a negative rate on investment. Thus, we must keep a look out for FY07,08 and 09, to make sure they make a good investment using its cash.
(B)Economic Recession
Retail industries are always vulnerable to recession as their reliance on both corporate and retail consumer is high.

Conclusion: IV for this stock valued at $0.40

Investment: Update on new investment principles.

2007-06-08T11:26:00.000+08:00

John Neff's investment principles:
1) Low Price to earning ratio (P/E)
2) Fundamental growth of 7% and more
3) Yield protection
4) Superior relationship of total return to P/E paid
5) No cyclical exposure without compensating pe multiple
6) Solid companies in growing field
7) Strong fundamental case

Care and Maintenance of a Low PE Portfolio
1) Inflection Points Abound (Bulls and Bears)
2) Beware the drumbeat of popular Opinion
3) Measured Participation (Buying the correct sector)
4) Don't chase highly recognised growth stocks (Limited upside appreciation)
5) Weigh the virtues of less recognised growth
5a) Growth rates of 12 -20 percent
5b) Single digit multiples of 6-9 earnings
5c) Dominance or major participation in definable growth areas
5d) Easy Industries to understand
5e) Unblemished record of double-digit historical earning growth
5f) Outstanding returns on equity, therein signifying management accomplishment, not to mention the internal capacity to finance growth
5g) Significant capitalisations and net income totals therein qualifying companies for insitutional consideration (in short: M&A targets)
5h) Ideally, although hardly essential, some wall street coverage, so those that need their hand held will have a wet nurse (in our context: some brokerage coverage so that there is motivation for buyers to buy)
5i) 2 to 3.5 percent yield in most cases (Dividend yield)
6) Moderate growers are solid citizens
7) Don't sweat market weighting (Concentrate assets in undervalued areas)
8) Learn what makes an Industry tick (Top down and bottom up)
8a) Are an industry's prices heading up or down?
8b) What about costs?
8c) Who are the market leaders?
8d) Do any competitiors dominate the market?
8e) Can industry capacity meet demand?
8f) Are new plants under construction?
8g) What will be the effect on profitabilty?

Building a Fact Sheet:
For any value investor, a fact sheet is very important as it will show everything at once infront of your very eyes. What should you include in your fact sheet?
1) The amount of shares owned
2) Average cost
3) Current price
4) Historical and projected EPS
5) Historical and projected growth rate
6) Historical and projected PE ratio
7) Yield
8) ROE
9) Price projection based on earnings expectation and resulting PE ratio
10) Appreciation potential

After finish reading the book: John Neff on Investing with S.L. Mintz, i realise what i need to add on to my FA analysis. In addition i just read finish a small booklet on Candlestick reversal technique. Hopefully, i can combine this 2 techniques to gain a fruitful experience.

Very tired Week: Police Day parade

2007-05-27T13:38:00.000+08:00

Dear Readers, it had been a very busy week. I was given the task of being the stage manager of Police Day parade 2007. It was challenging, plus all the ad hoc tasks that i was given. But i done it with no regrets. I have to thank all my colleagues who listen to my complains. Well, the event run smoothly, the satisfaction is there. Love it! Thus, this week i can only provide some information from my broker. Next week, i will go back to analysing companies. Anyway, i am looking into Yaan Security. :D

http://research.uobkayhian.com/research/content.show.action?filename=2007060115373796701187013.pdf <-------- focus MacarthurCook Industrial REIT

Investment: TiongWoon

2007-05-27T13:16:00.000+08:00

ET was wondering whether does TiongWoon still worth 0.55, after all the calls, at target $1.00

My task today will be reanalyse TiongWoon again, after its recent acquisition of a tower crane operator Soon Douglas, which operates: 49 towers and two mobile cranes.

From the chart below, we can see the new forecast of EPS is at 62.5% and thus, new EPS is at 4.2 cents. Its instrinsic value will be at $1.22 (in 2 years time) (refer below), after using the revised EPS as well as a new EPS growth rate. I use 25% growth rate as a more prudent average of the 4 years from 2006 to the forecast for 2009F.

Investment: Gaming Resorts

2007-05-26T11:22:00.000+08:00

Resorts World (Resorts) reported 1Q07 net profit of RM237.6m. Ex-exceptional of RM67.2m from gain on dilution in Star Cruises, net profit would have been RM174.4m (-28.4%yoy, +18.1%qoq). Results was below our and consensus expectations due to larger than expected losses at Star Cruises, but we expect Star Cruises performance to improve in 2H07.

Star Cruises losses rose to RM94.1m (1Q06: RM46.5m), but an improvement from 4Q06's RM185.3m loss. Star Cruises earnings was hit by a) higher ship operating expenses per capacity day (+1.1%yoy) due to charter hire fee for Norwegian Crown, b) decrease in net revenue yield of
6.5% due to downward pricing ressure on inter-island cruises in Hawaii and lower onboard revenue in the Asia fleet. Star Cruises will be withdrawing Pride of Hawaii from the competitive Hawaii market effective Feb 08 and redeploy it to Europe for summer 2008 to capitalise on the growing demand for European cruises.

Revenue grew strongly by 28.9%yoy (-2.2%)qoq to RM1,063.9m, on the back of higher volume of business at Genting Highlands due to higher visitor arrivals and more favourable luck factor.

EBIT rose by 49.4%yoy (-13.5%qoq) on higher revenue and improvement in margin to 32.6% (1Q06: 28.2%, 4Q06: 36.9%) due to better luck factor and continued cost savings

Balance sheet continued to strengthen as net cash jumped to RM1,372.6m (23sen/share) vs 1Q06: RM148.8m, 4Q06: RM707.9m.

Maintain earnings estimates and HOLD call (entry price RM2.55).

Investment: Be wary of STI

2007-05-24T22:02:00.000+08:00

This is from my Broker:

Singapore bourse- Rising wedge formation close to breaking down. The ST index had reached a high of 3559 yesterday and quickly reversed down. We had earlier identified the 3550 level as a critical resistance level while stating that the index could be in a terminal wave 5 move. Today's decline has raised the probability that a significant peak is in place. The pattern of the index's move from March low off 2930 has traced out a rising wedge pattern and typically any breakdown will result in a sharp reversal. As we write this the index has already lost 35 points at 3523. Immediate trendline support is at 3512 for today. There is a risk that the index could gap down if sentiment turns negative. As such, we think it is prudent to reduce exposure. If the index breaks below the uptrend line, then next immediate support would be at 3400, the low of the prior 3 weeks. Readers should also note that other regional markets are also week and indices like the KLCI and Jakarta Composite Index appear! vulnerable to a steep correction.

Best Regards

K Ajith

Genting Intl

2007-05-20T11:45:00.000+08:00

Requested by my dearest ET, she wanted to know about my analysis on Genting Intl, thus, this week featured Genting Intl.
Like always: A brief recap on the 8 criteria:
1)History of consistently increasing sales and earnings
2)Sustainable competitive advantage
3)Future Growth Drivers
4)Conservative Debt
5)ROE > 15%
6)Low capital expenditure required to maintain current operations (in account sector: CAPEX)
7)Good Management & Competent at capital allocation
8)Buy only when the stock is undervalued, i.e. Share price

I got Genting Intl's quarterly report from ET's link (from the tagboard), and went ahead to analyse its report:
1) There is a more than a 100% rise comparing quarters to quarters ( $4890 k to $ 67,550k)
2) EPS - Basic @ 1.2, Diluted @ 0.13
3) From calculations: ROI @ 2.5%
4) ROE @ 3.83%
5) Long term Liabilities increased by $87,760k
6) Short Term payables and borrowings decreased by $256,421k
7) Net cash generated increased from $3674k to $25,992k
8) Dispose 50% interest in Stanley Leisure
9) Gent Intl utilised its proceeds from their "First Convertible Bonds" as follows:
i) Cost of issuance ($6,003k), ii) Subscription of shares in Resorts World at Sentosa Pte. Ltd. via Star Eagle Holdings Limited ($407,062k) and left $11,935k unutilised
10) The proceeds from their 'Second Convertible Bonds' have not been utilised.
11) "... through its wholly owned subsidiary, Star Eagle Holdings Limited ("Star Eagle") increased its investment in RWS from S$27,187,500 to S$525,000,000.."

Currently, we can observe that Genting Intl is placing huge bet on the Integrated Resort in Sentosa. From their huge investment in RWS as well as their long term borrowings to fund this project. Plus, since they are now the sole controller of the IR project. Things may very well swayed to their favor. How successful will this IR project be in the future? Can it beat our neighbouring Macau? How would the response be in Singapore? These are unforseen circumstances in the future. But on a short note, if the company is so confident on this project, this enthusiasm will trickle down to its sharesholders.

Currently, the share price of Genting Intl is standing at 0.95. Using EPS method: the long term instrinsic value for Genting Intl is standing at $3.77

However, if were to use the discounted cash flow method, then the instrinsic value is at $0.78

Thus, this shows that Genting Intl does not have enough cash flow to operate its operation, but pointed out at point 10, their proceeds from the convertible bonds has not been utilised. This proceeds can serve as cash flow when they need. My future view on this stock at this point is still good.

Pine Agritech

2007-05-13T15:14:00.000+08:00

Hi readers, I would like to present my analysis on Pine Agritech. And if there is still time left (Mothers' Day you know?), I will do Tiong Woon too. Before i start, let recap on the 8 Criteria:
1)History of consistently increasing sales and earnings
2)Sustainable competitive advantage
3)Future Growth Drivers
4)Conservative Debt
5)ROE > 15%
6)Low capital expenditure required to maintain current operations (in account sector: CAPEX)7)Good Management & Competent at capital allocation
8)Buy only when the stock is undervalued, i.e. Share price < Intrinsic Value

I got OCBC investment Research report on Pine Agritech yesterday, dated 11 may 2007. A brief run through for the report (Extract):
1) Revenue grew 81% YoY to RMB405.4m and net profit surged 115% YoY to RMB146.5m, ... primarily attributed to acontinued increase in contribution from its high margined SOS product which made up 48.5% of revenue and 69.8% of gross profit as compared to 30.5% and 46.4% respectively in 1Q06. SOS's gross profit grew 223% YoY to RMB135m
2) ...concerns about Shenji stumbling on its RMB700m commitment for FY07 is somewhat allayed as management showed prompt payment in its financial statements from Shenji.
3) Fair Value @ 0.76
4) Profit after tax increase at 115.2%
5) EPS forecast at 0.202
6) EPS growth forecast at 12.9%
7) ROE forecast at 33.5%
8) PE growth at 1.3x

Pine Agritech, from the past reports have managed to sustain growth and profits:
Year to Turnover Gross Profit Net Profit EPS EPS Growth PER Net Div Yield
31 Dec (RMB m) (RMB m) (RMB m) (RMB cents) (%) (x) (%)
FY 05 797.0 270.8 234.6 7.8 28.6 42.0 1.2
FY 06 1,577.7 699.4 538.0 17.9 129.3 18.3 1.6
FY 07F 1,874.5 815.6 607.2 20.2 12.9 16.2 1.8
FY 08F 2,101.0 902.5 670.6 22.4 10.4 14.7 2.0

Their sale of soybean-based products such as Soy Protein Isolates (“SPI”), Soybean Oil, Soy Oligosaccharide Syrup (“SOS”) and Soybean Peptide are their key competitive advantage. I don't see that they will lose this advantage in the near future. SPI and SOS have been their growth driver, especially SOS, "SOS's gross profit grew 223% YoY to RMB135m". SOS and SPI will continue to be their growth driver. But one thing to note is that, i hope there will be more drivers to let Pine Agritech be a leading Soy company.

Since i can't post the pictures of my excel spreadsheet, thus i just type my findings here regarding Pine Agritech's instrinsic value:
Using EPS method, the ten years forecast is $3.03, whereas using the discounted cash flow method, the forecast for ten years is $4.00.
In conclusion, Pine Agritech is quite a good long term investment for ten years to come as if you bought this share at the current price of 0.69, 1 lot, ten years later, it will become $2260 (using the $3.03), including the calculation of commissions and clearing fees. Good investment right?

Cont'd

2007-05-01T20:16:00.000+08:00

For Asl marine, in order to suffice their order book, in their f/a 05- 06, they have added $96.25M in capital expenditure. Almost immediately, their net profit for the year ended 06 is a whopping $16.8 M. Thus, the expenditure produce a roughly 17% of its net profit. Majority of these capital expenditure are on financial lease, with $8.23M worth of Tugs pledged for a loan facility if Asl needs it. Another plus point is that, they really try to minimise their debt, and mostly incurred are finance lease and the various hedges against currencies they had with other parties. A majority of their leases will be ending in another 5 years time, after which, they may either purchase their leased equipment, or re-lease a newer equipment.

In terms of ROE, lets check: Net income for the year 2006 is $23.621M and their average shareholders' equity is $121.687M. Which means Asl Marine ROE is 19.41%

1 Point i like about Asl is that they had $28.629M in positive cash flow, after all their expenditure.

In conclusion, Asl marine have conservative debt (pt 4), their ROE is 19% (pt 5), their capex is relatively average (as they are in a high capital business) (pt 6), AND they got a good positive cash flow.

Golden qns, given their current price, are they valued correctly? Their current price is $1.22 per share (as of today). Their EPS (Earning per share) is $0.10 ($23.066M/230,197,899), thus, P/E ratio is 12.2, which is really good!

Last but not least, what is the stock intrinsic value?

The first method is using the discounted earning per share method: EPS is $0.10, assume EPS grow at 10%, discount factor is 4%, the intrinsic value is $1.38Second method is using projected cash flow method: cash flow is $28.629M, growth at 7%, and guess what!! The intrinsic value is also exactly $1.38 (first time i got both calculations with same value)

Thus, to wrap Asl marine up, is that --- this company has a good FA, a good value company to invest, however the current price may not seem attractive as it is not really at a huge discount, i.e $1.22 compared with $1.38. Maybe, when the bull fall, if Asl marine falls to $0.60 and below, make sure everyone grabs it okay? Thats all!

Busy week..

2007-04-29T21:29:00.000+08:00

Sorry, my dear readers, it had been a busy week. Riding lessons, preparation for my Ns work (namely the PdP parade). I hardly got time to keep track of the market. But thanks to ET and her effort, plus sam on one of the day's sender of the holy chatlogs to keep me informed at the end of the day.

Should i start with investments or some personal stuffs?

Lets start with investments: Today i will try to cover Asl Marine.
Before going there, i want to point out a discovery, i read the business times the past few weeks, and they had this dummy portfolio, and at this point of time, companies with low PTB (price to book) ratio had the biggest gains. Hmmm, somehow, a book had flash across my mind, it ever mentioned that when pennies stock of companies rise, it mean the bull is reaching its last league of its run. Is it true? Only time can tell.

What is Ptb ratio? Excrept from http://en.wikipedia.org/wiki/Price_to_book

The Price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's book value to its current market price. Book value is an accounting term denoting the portion of the company held by the shareholders; in other words, the company's total assets less its total liabilities. The calculation can be performed in two ways but the result should be the same each way. In the first way, the company's market capitalization can be divided by the company's total book value from its balance sheet. The second way, using per-share values, is to divide the company's current share price by the book value per share (i.e. its book value divided by the number of outstanding shares).
As with most ratios, be aware this varies a fair amount by industry. Industries that require higher infrastructure capital (for each dollar of profit) will usually trade at P/B much lower than the P/B of (e.g.) consulting firms. P/B ratios are commonly used for comparison of banks, because most assets and liabilities of banks are constantly valued at market values. P/B ratios do not, however, directly provide any information on the ability of the firm to generate profits or cash for shareholders.
This ratio also gives some idea of whether an investor is paying too much for what would be left if the company went bankrupt immediately. For companies in distress the book value is usually calculated without the intangible assets that would have no resale value. In such cases P/B should also be calculated on a 'diluted' basis, because stock options may well vest on sale of the company or change of control or firing of management.
Also known as the "price/equity ratio" (which should not be confused with P/E or price/earnings ratio); or the market cap divided by shareholders' equity.

So, the lower the ratio, is it better?

In Asl Marine's chairman message it was said that:
"Based on the weighted average number of shares, the Group’s basic earnings per share grew by 60.8% to 10.02 cents while net asset value per share increased from 35.95 cents to 47.91 cents as at 30 June 2006."
It seems that after listing their companies on SGX, they really make a good growth out of their value from their companies. Imagine a 60.8% growth in EPS, thats' a big WOW! \

However, what is their future plans? Future plans are really important, because no point having to grow so much in the past, only to fall like aeroplane's nosedive in the coming future, so actually i take more point in the future plans. Quoting from the chairman's message:

"... continued focus on improving our shipbuilding and shiprepair capabilities as well as expansion and upgrading of more sophisticated and larger vessels for our fleet."
So did Asl Marine really did what they promised in 2006, quoting from thiru's reuter info in 24 april 2007:
"By Ovais Subhani SINGAPORE, April 24 (Reuters) - Singapore shipbuilder ASL Marine said on Tuesday its total capacity to build offshore vessels used in oil exploration will nearly double when its new yard in China is fully operational next year. Shares of ASL Marine jumped nearly 8 percent to a record high of S$1.24 after the company's comments, bringing gains so far this year to over 30 percent, after a 79 percent rise last year. Its new eight-hectare (20 acres) shipyard in China' Ang said the new yard has started building smaller and less sophisticated vessels such as barges this month, but would take another year before it starts building offshore vessels that perform logistics services at offshore oil fields. The dollar value of orders for offshore vessels is usually much higher than for harbour tugs or barges. ASL Marine has two more shipyards -- a 30-hectare yard on Indonesia's Batam island, where it can build up to eight vessels a year and repair vessels of A rise in demand for these specialised vessels, as high oil prices spur more exploration, has pushed ASL Marine's order book to record levels above S$500 million ($331 million), from S$382 million on December 31, 2006. With about 110 offshore rigs under construction world-wide, Ang said the demand for anchor handling vessels was likely to stay healthy. Its growing order book has helped the firm, which has a market value of US$192 million, to post net profit of S$16.8 million"
So the chairman of Asl Marine really committed to his promise. Good Management!!

That meets Criteria 1,2, 3 and 7 of the criteria listed in my previous post! Now left with some accounting comparison in 4,5,6 and 8. Now the qns is, do they have conservative debt? Do their ROE > 15% Do their have low Capex to maintain their current operations? Are they undervalued?

Stay tuned for my next post, where i will cover the last 4 points!!!

My views

2007-04-21T18:50:00.000+08:00

I remembered on Wednesday, there is a huge drop (a one day correction). However it ended on Thursday with a huge gain. Some of us were disappointed, while other thinks that its time for a good shopping spree. On wednesday, i remembered seeing a few of our fellow ninjas talking about companies that were FA-sound. The list is as such:

1) ASL Marine
2) AusGroup
3) CG tech
4) Swiber

Next Post, i will go through the ASL marine using the 8 criteria i stated in my previous post, and if i got time, i shall add a chart for my readers to analyse her TA.

Value Investment vs Technical Investment

2007-04-19T21:28:00.000+08:00

I just read finish a 2 books the past few weeks. This particular book that i borrowed from my friend caught my interest. Secrets of Self-Made Millionaires by Adam Khoo. This book have been around in Popular, and other famous book stores for many many months, and seriously, it didnt really caught my interest. 2 reasons: Its very expensive and cliche title (opps =x)

However after reading this book, a different impression was given to me from this book. This book give people who don't have any financial background a good starting point. It teaches you money making stuffs like internet business, financial management (personal), accounting techniques and (the thing that caught my attention) how to pick stocks like warren buffet by using his techniques.

As i am a stock person, i am very interested in what he wrote in his book as i also read many books about warren buffet. Chapter 19 of this book is a good read for people who want to know more about value investment and how to go about using Adam's technique to select stocks. So what i think is, since i aready written this chapter, whenever anyone drop by a bookstore, just read this chapter and ignore the rest. If u find this book good, buy it. Now got 20% discount!!

I going to write down the 8 criteria (courtesy of Adam Khoo's Chapter 19):
1)History of consistently increasing sales and earnings
2)Sustainable competitive advantage
3)Future Growth Drivers
4)Conservative Debt
5)ROE > 15%
6)Low capital expenditure required to maintain current operations (in account sector: CAPEX)
7)Good Management & Competent at capital allocation
8)Buy only when the stock is undervalued, i.e. Share price < Intrinsic Value

The last criteria is the hardest to determine, however in his book, he taught his reader how to determine it. I won't say it here, if u want to know more, read it or buy it. He even provide a template for calculating the stock's intrinsic value.

Another thing to take note is that: I AM GETTING MY TRADING ACCOUNT DONE! Brokerage firm is UOBKayHian (Courtesy of Ms Evin Teo). Anyone want to recommend more lobang brokers, feel free to email me. Meanwhile, i am waiting the current correction to go to its deepest, then i will go in!

From previous post, i written about my TAs and Companies that i am interested. Well stay tuned for future post when i try to blend in FA with TA. And see how the companies on my watchlist actually worth watching!!

Ninja trading school (Best school i ever been)

2007-04-12T11:56:00.000+08:00

First of all, i would like to thanks all the ninja trading school friends. They have been very supportive, very willing to share, last but not least, they will advice you on fengshui for the day (just kidding).

Think about it.. how i know this group ah.. its seems like yesterday, yet it is almost a year le. I think its through Master ninja's blog, which i learn that he had a yahoo group. So i just subscribe to it to learn something about the stock market trading. I was from the accountancy diploma, thus, even though its similar area, but the concepts obtain is alot different from school.

Slowly, day by day, i learn a little at a time. I also went to read books on investments too. Its a long learning journey, but it was a good one. After which, my friend tell me about tradershub, roughly in september, so unoffically, i had been trading for 7 months (LOL! like real huh). This practical experience was a good one. It prove lots of theories, whether right or wrong, debunked alot of 'old wise tales' and taught me that when it comes to trading, you gotta be subjective, and emotionless! CUT LOSS AH!

After from yahoo group, then is the Little ninjas website and the school that comes along with it. I really appreciate it. I would like to thanks ET for HER effort to send the chat to my mailbox everyday without fail. If not i will never know whats going on in this school.

P.S: Meanwhile, any viewers of this blog, can u please recommend me a broker. I got a cdp account, but i haven yet got a trading account.

P.P.S: For the first time in my life, I LOVE SCHOOL!

Another long time since i post

2007-04-06T18:34:00.000+08:00

Hi everyone, again its been a long time since i posted. Well a quick update:

1) I am posted to the Singapore Police Band
2) I got my Class 3 Licence
3) I opened my CDP account
4) I am learning my 2B (stage 4.02) as at this time
5) I decided to spend more time on making money than playing games

Well, through experience, i realise what are the few TA tools that is reliable for me. Even though i may not be proficient in them yet, but i will try to sharpen my skills trading on tradershub. The tools that i am using now are:

1)Accum/Dist
2)Dual Moving AVg
3) MACD
4) Momentum
5)MFI
6)EMA
7)Parabolic stop and reversal
8) ROC
9)RSI
10)Stochastic

With these 10 tools, i made pretty accurate feel on some of the stocks in my lists. The companies in my lists are:

1)Asiapharm
2)Ausgroup
3)Biosensors
4)BrightWorld
5)Cg tech
6)Erza
7)Gems Tv
8)Hongguo
9)Hyflux
10)Pac Andes
11)Pine Agritech
12)Raffles Edu

With these 12 stocks, i only will monitor them, and concentrate on them to the stage i can feel their stock prices. Well hope i can meet my resolution for this year.. HAHA!

My Investments

2007-01-25T16:03:00.000+08:00

Its been a long time since i updated this blog. Anyway, now i had POP, and luckily i am posted to an office timing job. This means that i can spend more time on brushing up my investments before i actually invested.

There is this website that i come across that is quite useful for beginners. -> www.tradershub.net. I use this website as a guage to see how my analysis works. It gives you 50k virtual cash, and lots of companies from both the mainboard, sesdaq and the US markets. From there, pick your choice and start rolling.

Another plus factor is that there is a ranking system, no, not to use that to compete. To me, i use that to see how some people can go to the first place. I will do things like looking thru their trades, and see why that person execute that move at that time, and why he sell?

The following are my transactions, there are some loss and some gains. Hope anyone out there see my investments can comment on it.

Lets start the Ball Rolling: AsiaPharm Group Ltd

2006-11-13T15:12:00.000+08:00

Before i start: Let me set the frequency of my updating of this blog. I will TRY my very best to update this blog weekly (every fri or sat), simply because i am a NS man. So my book out is on the weekends la. After my Passing out, then maybe i can dedicate more time on updating this blog and hopefully can equip everyone with valuable information from all the readers.

And if you feel that this blog needs any improvement, please tell me on the comments or email me at miketong240286@gmail.com. Thanks =D

AsiaPharm Group Ltd

AsiaPharm Group Ltd. is a specialty pharmaceutical group in the Peoples Republic of China. It specializes in the research and development (R&D), production and sale of pharmaceutical drugs and formulations for chemical drugs, the sale of research and development results and patents for drugs, and the provision of research services on a contract basis. Its distribution network includes 35 sales support offices, covering 30 provinces, municipals and autonomous regions, reaching approximately 2,000 hospitals. Its core products include Lutingnuo, Maitongna, Nuosen, Okai, Sidinuo and Ximingting. In May 2006, the Company's wholly owned subsidiary, Shandong Luye Pharmaceutical Co., Ltd (Luye), acquired the remaining 20% minority interest in Luye's subsidiary, Yantai Luye Drugs Trading Co.

Their Management:

Dian Bo Liu > Group Executive Chairman of the Board
Chin Fan Chong > Chief Financial Officer
Hai Peng Diao > Vice President of Sales and Marketing
Yun Li Xue > Vice President - Research & Development
Ka Jia Su > Vice President-Administration, Human Resources and Information Technology
Chee Meng Wong > Company Secretary Officer Since: 04/29/2006
Poh Noi Yeo > Company Secretary
Hui Xian Yuan > Executive Director
Ke Liu > Chief Scientific Officer

What are your views on this company?

Which company next?

To Begin With

2006-11-13T14:51:00.002+08:00

Value Investing

The aim of this blog is to provide the basic information on Companies listed on the SGX. In addition, i will also put my 2 cents worth. As you readers reading the information, you may want to add your clarification under the comments section.

A little about myself: My interest in investing started when my lecturer pass me a book: 'rich dad poor dad' by Robert Kiyosaki. From there my interest in general investing (at that time i dun even know what is investing) grew. After that i start to read intently about the topic investing. After which, there are a various kind of investing, mainly, stocks markets and real estates.

Well, like other people who fantasize about becoming rich, i also hope to be one as well (that is when i was the age of 18), after 2 years of general reading on the topic of investing in stock market, i realise that there are different analysis on the market itself, namely, Fundemental Analysis and Technical Analysis (most commonly known as FA & TA).

At this point of time, i subscribe to Master Starfish's littleninjas investing group, which have a interactive exchange program on the views about the Singapore comanies. (You can subscribe to it by press Master's link on the right).

I hope that this blog will be better than any other brokers' report as everyone's view will be listed here and there is no compelling elements to force the readers to put certain type of comments. Simply free and easy.

P.S: There is this specific blog that cater to exactly what is Value Investing -- http://8percentpa.blogspot.com/ . Do give this blog a visit if you want to know more about Value Investing in Singapore Stocks