Reference:
http://www.lta.gov.sg/projects/index_proj_maprail.htm
http://www.lta.gov.sg/projects/proj_maps_rail_l.htm
Saturday, November 19, 2011
LTA MRT LRT Plans
Last updated on Sep 2011:
Reference:
http://www.lta.gov.sg/projects/index_proj_maprail.htm
http://www.lta.gov.sg/projects/proj_maps_rail_l.htm
Reference:
http://www.lta.gov.sg/projects/index_proj_maprail.htm
http://www.lta.gov.sg/projects/proj_maps_rail_l.htm
Friday, November 11, 2011
Property Types
Extracted from this post for my own reference:
http://www.sg-house.com/classifieds/property-news-and-knowledge/1133185-singapore-property-glossary-and-common-terms-definition.html
HDB flat has a various types of models and approx. sizes such as:
2 room flat - 45 sq.m ( 1 bedroom )
3 room flat 3S Standard model -54 sq.m ( 2 bedrooms )
3 room flat 3I Improved model -60 sq.m ( 2 bedrooms )
3 room flat 3S Simplified model -65 sq.m( 2 bedrooms )
3 room flat 3NG New Generation model -69 sq.m ( 2 bedrooms )
3 room flat 3A A model -75 sq.m ( 2 bedrooms )
4 room flat 4I Improved model -83 sq.m ( 3 bedrooms )
4 room flat 4S Simplified model -85 sq.m( 3 bedrooms )
4 room flat 4NG New Generation model -93 sq.m ( 3 bedrooms )
4 room flat 4A A model -105 sq.m ( 3 bedrooms )
5 room flat 5I Improved model -123 sq.m( 3-4 bedrooms )
5 room flat 5A A model -135 sq.m( 3-4 bedrooms )
Executive Apartment EA model - 145 sq.m( 4 bedrooms )
Executive Maisonette EM model - 145 sq.m( 4 bedrooms )
Private Apartment - residential unit located in a building occupied by more than one residential unit, built by non-governmental entities. When people refer to Private Apartment, usually it means those with less communal facilities. (see condominium)
Condominium - type of private apartment, with full communal recreational facilities (like swimming pool, tennis court, BBQ pit, etc).
Most of Condominiums and Private Apartments come with good finishing, and usually have car park space, 24hrs security surveillance, intercom systems and sometimes even home automation systems. They start from as small as 450 square feet to as large as 8,000 square feet.
The types of units in private apartments and condominiums are
studio room units - A small apartment usually consisting of one main living space, a small kitchen, and a bathroom.
1 bedroom units
1+1 - 1 bedroom units with 1 maid / study room
2 bedroom units
2+ 1 - 2 bedroom units with 1 maid / study room (2+1)
3 bedroom units
3+ 1 - 3 bedroom units with 1 maid / study room (3+1)
4 bedroom units
4 + 1 - 4 bedroom units with 1 maid / study room (4+1)
Penthouses - A large residential unit located at the highest level of a building with a roof garden.
Maisonette - A 2-level residential unit in a building. The adjoining floors of the units are connected by an internal staircase in the house.
Walk-Up Apartment - residential unit in a building generally 4 to 5 storeys or less. The units on the upper floors are accessible by staircase only as no lifts are provided.
Strata Title is a form of ownership devised for multi-level apartment blocks, which have apartments at different levels or "strata".
Strata Title Schemes are composed of lots and common property. Lots are either apartments, garages or storerooms etc and are shown on the title as being owned by the Lot Owners. Common Property is defined as everything else on the parcel of land that is not comprised in any lot, such as common stairwells, driveways, roofs and gardens etc.
Landed Properties
Residential units with individual ground contact. Types of landed properties:
Bungalow / Detached House -A landed house standing on its own without sharing any common wall or roofing.
Linked House - One of a pair landed houses joined by a common wall separating the car porches of the 2 houses. This common wall is the side wall of the car porches.
Semi Detached -One of a pair landed houses joined by a common wall rising from ground to roof level. This common wall is the side wall of the rooms of the 2 house.
Terrace House - A landed house in a row of not less than 3 houses. Being in between 2 houses, it has 2 common walls.
Corner Terrace House - Tha landed house at the end of a row of terrace houses that normally has a larger land area compared to the other terrace house.
Cul-De-Sac House - A landed house at the end of a large turnaround dead-end road.
Town House - One in a row of not less than 3 residential units having ground contact and common ownership of the land.
Cluster Housing - a hybrid between conventional landed housing and condominium housing. All units have ground contact but with shared facilities similar to those found in condominiums. Cluster housing therefore have Strata Titles.
Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time. Until the end of the lease period (often measured in decades - a 99 year lease is quite common) the leaseholder has the right to remain in occupation. Leasehold properties can be bought and sold on the open market.
Freehold is the right in a property to hold it with a perpetual right. In freehold right there is no limit of time to hold the property like in case of leasehold. Also known as "Fee simple" ownership.
http://www.sg-house.com/classifieds/property-news-and-knowledge/1133185-singapore-property-glossary-and-common-terms-definition.html
HDB flat has a various types of models and approx. sizes such as:
2 room flat - 45 sq.m ( 1 bedroom )
3 room flat 3S Standard model -54 sq.m ( 2 bedrooms )
3 room flat 3I Improved model -60 sq.m ( 2 bedrooms )
3 room flat 3S Simplified model -65 sq.m( 2 bedrooms )
3 room flat 3NG New Generation model -69 sq.m ( 2 bedrooms )
3 room flat 3A A model -75 sq.m ( 2 bedrooms )
4 room flat 4I Improved model -83 sq.m ( 3 bedrooms )
4 room flat 4S Simplified model -85 sq.m( 3 bedrooms )
4 room flat 4NG New Generation model -93 sq.m ( 3 bedrooms )
4 room flat 4A A model -105 sq.m ( 3 bedrooms )
5 room flat 5I Improved model -123 sq.m( 3-4 bedrooms )
5 room flat 5A A model -135 sq.m( 3-4 bedrooms )
Executive Apartment EA model - 145 sq.m( 4 bedrooms )
Executive Maisonette EM model - 145 sq.m( 4 bedrooms )
Private Apartment - residential unit located in a building occupied by more than one residential unit, built by non-governmental entities. When people refer to Private Apartment, usually it means those with less communal facilities. (see condominium)
Condominium - type of private apartment, with full communal recreational facilities (like swimming pool, tennis court, BBQ pit, etc).
Most of Condominiums and Private Apartments come with good finishing, and usually have car park space, 24hrs security surveillance, intercom systems and sometimes even home automation systems. They start from as small as 450 square feet to as large as 8,000 square feet.
The types of units in private apartments and condominiums are
studio room units - A small apartment usually consisting of one main living space, a small kitchen, and a bathroom.
1 bedroom units
1+1 - 1 bedroom units with 1 maid / study room
2 bedroom units
2+ 1 - 2 bedroom units with 1 maid / study room (2+1)
3 bedroom units
3+ 1 - 3 bedroom units with 1 maid / study room (3+1)
4 bedroom units
4 + 1 - 4 bedroom units with 1 maid / study room (4+1)
Penthouses - A large residential unit located at the highest level of a building with a roof garden.
Maisonette - A 2-level residential unit in a building. The adjoining floors of the units are connected by an internal staircase in the house.
Walk-Up Apartment - residential unit in a building generally 4 to 5 storeys or less. The units on the upper floors are accessible by staircase only as no lifts are provided.
Strata Title is a form of ownership devised for multi-level apartment blocks, which have apartments at different levels or "strata".
Strata Title Schemes are composed of lots and common property. Lots are either apartments, garages or storerooms etc and are shown on the title as being owned by the Lot Owners. Common Property is defined as everything else on the parcel of land that is not comprised in any lot, such as common stairwells, driveways, roofs and gardens etc.
Landed Properties
Residential units with individual ground contact. Types of landed properties:
Bungalow / Detached House -A landed house standing on its own without sharing any common wall or roofing.
Linked House - One of a pair landed houses joined by a common wall separating the car porches of the 2 houses. This common wall is the side wall of the car porches.
Semi Detached -One of a pair landed houses joined by a common wall rising from ground to roof level. This common wall is the side wall of the rooms of the 2 house.
Terrace House - A landed house in a row of not less than 3 houses. Being in between 2 houses, it has 2 common walls.
Corner Terrace House - Tha landed house at the end of a row of terrace houses that normally has a larger land area compared to the other terrace house.
Cul-De-Sac House - A landed house at the end of a large turnaround dead-end road.
Town House - One in a row of not less than 3 residential units having ground contact and common ownership of the land.
Cluster Housing - a hybrid between conventional landed housing and condominium housing. All units have ground contact but with shared facilities similar to those found in condominiums. Cluster housing therefore have Strata Titles.
Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time. Until the end of the lease period (often measured in decades - a 99 year lease is quite common) the leaseholder has the right to remain in occupation. Leasehold properties can be bought and sold on the open market.
Freehold is the right in a property to hold it with a perpetual right. In freehold right there is no limit of time to hold the property like in case of leasehold. Also known as "Fee simple" ownership.
Thursday, October 6, 2011
Downtrend
Personally I find the 50 days moving average a clearer signal compared to 20 and 200 days.
Using the 50 days moving average, both S&P and STI are clearly in a downtrend since Aug 2011.
http://sg.finance.yahoo.com/echarts?s=^STI#symbol=^sti;range=1y;compare=;indicator=sma+volume;charttype=candlestick;crosshair=on;ohlcvalues=1;logscale=off;source=;
http://sg.finance.yahoo.com/echarts?s=^GSPC#symbol=^gspc;range=1y;compare=;indicator=sma+volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=;
Better to sit tight and wait for reversal before picking up more stocks.
Using the 50 days moving average, both S&P and STI are clearly in a downtrend since Aug 2011.
http://sg.finance.yahoo.com/echarts?s=^STI#symbol=^sti;range=1y;compare=;indicator=sma+volume;charttype=candlestick;crosshair=on;ohlcvalues=1;logscale=off;source=;
http://sg.finance.yahoo.com/echarts?s=^GSPC#symbol=^gspc;range=1y;compare=;indicator=sma+volume;charttype=candlestick;crosshair=on;ohlcvalues=0;logscale=off;source=;
Better to sit tight and wait for reversal before picking up more stocks.
Tuesday, August 16, 2011
7Twelve Portfolio
Came across this interesting portfolio concept.
Basically, it entails investing in 7 asset classes, and 12 funds that constitutes the 7 asset classes.
More details can be found here: http://www.7twelveportfolio.com/index.html
Basically, it entails investing in 7 asset classes, and 12 funds that constitutes the 7 asset classes.
More details can be found here: http://www.7twelveportfolio.com/index.html
Saturday, August 13, 2011
The latest crisis - A reversion to mean
Latest Crisis - The Cause
So what causes this latest round of crisis? Erring on over-simplifying the complicated issues, it is basically due to U.S. getting to expensive, and we are in the process of reverting to the mean.
U.S had grown so expensive over the past few decades that many of her companies find it cheaper to outsource the jobs and manufacturing to developing countries such as India, China, and SE Asia.
However, these outsourcing of jobs and manufacturing means that U.S has to pay the workers and capital equipment in these foreign countries, and import the end products. Both resulted in U.S sustaining trade deficit.
Is U.S at risk of defaulting
Again, we might be over-simplifying the issues. However, U.S debts are denominated in US$, and U.S can simply print more US$ to pay off the debt. Thus, U.S can choose not to default infinitely.
Next question - would the creditors continue to accept U.S debt? As long as U.S is able to repay the interest, probably. U.S debt is around 14T. GDP is also around 14T. As such, U.S should be able to sustain the interest payment as long as the tax revenue is greater than the required interest. Besides, they still have the printing press. Also, the creditors probably don't have much alternatives either.
What is at risk will be the internal budget such as healthcare, defence spending, etc. If these budgets are cut, jobs might be lost. However, this is simply a re-allocation of resources from shrinking industries to growth industries, as long as capitalism continues to function.
So what is happening now
Reversion to mean. U.S is printing money to repay the interest and debt. This results in inflation and devaluation of US$. And this means that companies that outsourced their jobs and manufacturing will find it more and more expensive to pay the foreign countries. Over time, the jobs and manufacturing will be brought back onshore. Employment will be created. Re-allocation of resources will take place from govt sector to private sector.
Potential Impact
Developing countries that currently hosting the jobs and manufacturing will experience unemployment.
What is our strategy
Personally, I'll switch out of emerging markets and bet on a U.S recovery. The best way to accomplish this is to diversify using U.S ETF.
For singapore market, these are a few candidates traded on SGX:
3) IS S&P500 10US$@ (gives ~2% dividends)
4) Lyxor ETF Dow Jones Industrial Average
So what causes this latest round of crisis? Erring on over-simplifying the complicated issues, it is basically due to U.S. getting to expensive, and we are in the process of reverting to the mean.
U.S had grown so expensive over the past few decades that many of her companies find it cheaper to outsource the jobs and manufacturing to developing countries such as India, China, and SE Asia.
However, these outsourcing of jobs and manufacturing means that U.S has to pay the workers and capital equipment in these foreign countries, and import the end products. Both resulted in U.S sustaining trade deficit.
Is U.S at risk of defaulting
Again, we might be over-simplifying the issues. However, U.S debts are denominated in US$, and U.S can simply print more US$ to pay off the debt. Thus, U.S can choose not to default infinitely.
Next question - would the creditors continue to accept U.S debt? As long as U.S is able to repay the interest, probably. U.S debt is around 14T. GDP is also around 14T. As such, U.S should be able to sustain the interest payment as long as the tax revenue is greater than the required interest. Besides, they still have the printing press. Also, the creditors probably don't have much alternatives either.
What is at risk will be the internal budget such as healthcare, defence spending, etc. If these budgets are cut, jobs might be lost. However, this is simply a re-allocation of resources from shrinking industries to growth industries, as long as capitalism continues to function.
So what is happening now
Reversion to mean. U.S is printing money to repay the interest and debt. This results in inflation and devaluation of US$. And this means that companies that outsourced their jobs and manufacturing will find it more and more expensive to pay the foreign countries. Over time, the jobs and manufacturing will be brought back onshore. Employment will be created. Re-allocation of resources will take place from govt sector to private sector.
Potential Impact
Developing countries that currently hosting the jobs and manufacturing will experience unemployment.
What is our strategy
Personally, I'll switch out of emerging markets and bet on a U.S recovery. The best way to accomplish this is to diversify using U.S ETF.
For singapore market, these are a few candidates traded on SGX:
1) DBXT STOXX GLOB DIV 100 ETF 10 (gives ~5-6% dividend based on 2011. Synthetic ETF)
2) db x-trackers S&P 500 ETF (dividends are re-invested back to fund. Synthetic ETF)3) IS S&P500 10US$@ (gives ~2% dividends)
4) Lyxor ETF Dow Jones Industrial Average
Saturday, June 25, 2011
PRU Monthly Income Plan
A friend bought into this fund for 5% dividend returns per annual.
http://www.fundsupermart.com/main/fundinfo/viewFund.svdo?sedolnumber=PPMIPM
Currently it is selling close to launch price of $1.
From the pricing, there isn't much capital gain to be expected, and thus this fund is purely a dividend play. Dividend payout had been consistent at about 5%
A quick look at the bonds/investments that the fund is holding reveals that majority of them are rated BBB and lower.
At 5% dividend, I feel that the return does not commensurate with the risk. UOB preference shares give 5% dividend as well.
http://www.fundsupermart.com/main/fundinfo/viewFund.svdo?sedolnumber=PPMIPM
Currently it is selling close to launch price of $1.
| Period | 1 yr high | 1 yr low | 3 yr high | 3 yr low | All time high | All time low | ||
| Price (SGD) | 1.02 | 0.96 | 1.02 | 0.7 | 1.05 | 0.7 |
From the pricing, there isn't much capital gain to be expected, and thus this fund is purely a dividend play. Dividend payout had been consistent at about 5%
A quick look at the bonds/investments that the fund is holding reveals that majority of them are rated BBB and lower.
At 5% dividend, I feel that the return does not commensurate with the risk. UOB preference shares give 5% dividend as well.
Thursday, May 26, 2011
15 biggest listed palm oil companies in the world, ranked by market value
Found this old article in reuters back in Mar 2008:
COMPANY MKT CAP^ PRODUCTION TOTAL RSPO
(US$ bln) LAND Member 1 Wilmar (WLIL.SI) 18.7 831,420 573,400 YES 2 Sime Darby (SIME.KL) 15.2* 2,200,000* 560,000* YES 3 IOI Corp (IOIB.KL) 12.9 793,452 220,593 YES 4 Astra Agro (AALI.JK) 5.6 917,885 258,900 NO 5 KL Kepong (KLKK.KL) 5.0 134,981 360,000 YES 6 Golden Agri (GAGR.SI) 3.3 1,608,000 1,300,000 YES 7 Asiatic Dev ASIA.KL 1.7 1,208,140 164,264 YES 8 London Sumatra (LSIP.JK) 1.6 340,015 121,436 YES 9 Bakrie S (UNSP.JK) 0.93 159,773 58,065 YES 10 Boustead (BOUS.KL) 0.85 248,135 89,771 YES 11 Sampoerna Agro (SGRO.JK) 0.81 240,000 73,000 YES 12 United (UTPS.KL) 0.87 192,204 43,325 YES 13 Kulim Bhd (KULM.KL) 0.76 363,750 88,484 YES 14 IJM Plantation (IJMP.KL) 0.70 139,313 63,490 YES 15 Tradewinds (TWSP.KL) 0.61 186,744 126,980 NO
NOTES: Total land includes cultivated and uncultivated
Tuesday, May 17, 2011
Properties with expiring lease
From Straits Time, 14 May 2011
Banks are more stringent on loans for properties that are less than 60 years lease left. Maybe we can get a low price from these properties since the demand for them will be lesser? To find out, I extracted the PSF from propertyguru for reference.
Project / Location / Years left on lease/ PSF
Peace Centre Mansions / Sophia Road / 58 / $731
One Tree Hill Mansions / One Tree Hill / 61 / $1120
Orchard Court / Oxley Road / 61 / $1219
Lutheran Towers / Tan Kim Cheng Road / 62 / $757
Hillcrest Arcadia / Arcadia Road / 63 / $1066
Hollandswood Court / Holland Park / 63 / $745
Townhouse Apartments / Cavenagh Road / 65 / $916
The Arcadia / Arcadia Road / 67 / $1319
Horizon Tower / Leonie Hill Road / 67 / $1237
Orchard Bel Air / Orchard Boulevard / 68 / $1457
Chancery Court / Dunearn Road / 69 / $998
Banks are more stringent on loans for properties that are less than 60 years lease left. Maybe we can get a low price from these properties since the demand for them will be lesser? To find out, I extracted the PSF from propertyguru for reference.
Project / Location / Years left on lease/ PSF
Peace Centre Mansions / Sophia Road / 58 / $731
One Tree Hill Mansions / One Tree Hill / 61 / $1120
Orchard Court / Oxley Road / 61 / $1219
Lutheran Towers / Tan Kim Cheng Road / 62 / $757
Hillcrest Arcadia / Arcadia Road / 63 / $1066
Hollandswood Court / Holland Park / 63 / $745
Townhouse Apartments / Cavenagh Road / 65 / $916
The Arcadia / Arcadia Road / 67 / $1319
Horizon Tower / Leonie Hill Road / 67 / $1237
Orchard Bel Air / Orchard Boulevard / 68 / $1457
Chancery Court / Dunearn Road / 69 / $998
Tuesday, May 3, 2011
Finance Minister Tharman says Global Economy is BAD
http://www.youtube.com/watch?v=jA5MIBazp1c
Key points:
- Problems of Household debt
- Problems of Govt debt
- China becoming very competitive, not just in the low cost arena, but also high value added arena. China wages rises up rapidly, and productivity, skills, knowledge rising up even faster. India, brazil and eastern european countries also catching up. This increases the risk of stagnation in developed economies
Key points:
- Problems of Household debt
- Problems of Govt debt
- Europe
- US & Japan over-borrowed before crisis. Spent a lot more during crisis. Debt shot thru the roof. Major risk of credit downgrade.
- 1/3 of european banks are short of capital in significant amounts
- Significant proportion of global banks need to renew their debts of $3.5T over the next 2 years
- China becoming very competitive, not just in the low cost arena, but also high value added arena. China wages rises up rapidly, and productivity, skills, knowledge rising up even faster. India, brazil and eastern european countries also catching up. This increases the risk of stagnation in developed economies
Monday, April 25, 2011
Cheapest Term Insurance - SAF Group Term Life Insurance
It is important to have sufficient insurance coverage. This SAF Group Term Life Insurance is one of the cheapest means to get death, TPD and partial accident coverage.
This plan is available to all nsmen (including police, scdf), their spouse, and children.
Global coverage. It covers all activities, not just those during ICT only. So it is relevant for our normal civilian life too.
Covers up to 70 years old.
Details can be found here. FAQ here.
This plan is available to all nsmen (including police, scdf), their spouse, and children.
Global coverage. It covers all activities, not just those during ICT only. So it is relevant for our normal civilian life too.
Covers up to 70 years old.
Details can be found here. FAQ here.
Tuesday, April 5, 2011
Recommended Investment Management Companies
Recommended by my Prof for their low fees:
1) Vanguard
2) Fidelity
3) Schwab
The context of his recommendations is a discussion on diversification using plain vanilla index ETFs. He had been using these 3 investment houses for decades (yes, he is an old man).
Although not discussed, I think liquidity of the sponsored ETFs, as well low tracking errors played a part in his preference.
1) Vanguard
2) Fidelity
3) Schwab
The context of his recommendations is a discussion on diversification using plain vanilla index ETFs. He had been using these 3 investment houses for decades (yes, he is an old man).
Although not discussed, I think liquidity of the sponsored ETFs, as well low tracking errors played a part in his preference.
Thursday, March 31, 2011
Equity Shortlists
Given that equity prices had gone up substantially, it is time to prepare ourselves for the next downturn by shortlisting some counters with good potential.
Mining Equipment Makers
- Caterpillar Inc.
- Bucyrus International
- Joy Global
Medical
- Medtronic
Indices
- Vanguard FTSE All-World ex-US ETF
Mining Equipment Makers
- Caterpillar Inc.
- Bucyrus International
- Joy Global
Medical
- Medtronic
Indices
- Vanguard FTSE All-World ex-US ETF
Wednesday, March 16, 2011
World Earthquake and Tsunami zones
In view of Japan 2011's major earthquake, I'm curious about the earthquake zones around the world. In areas where earthquakes are prone, damages to properties and economies could be substantial. We may need to keep this in view when we go about our investment decisions.
Source: http://geology.about.com/library/bl/maps/blworldindex.htm
Source: http://geology.about.com/library/bl/maps/blworldindex.htm
Wednesday, March 2, 2011
Hutchison Port Trust IPO - Updates
Some key figures:
- Indicative pricing = US0.91 to US 1.08
- 2010 profit margin = 26.46%. Proforma for unitholders around 18.8%
- 2010 EPS = US$0.0315. Thus PE Ratio (using US1.08) = 34.29. 2011
- Current Asset = US 937M. Current Liability = US 1447. Net current liability.
- Total Debt = US 5469M. Total unitholders = Us 9405M
- Expected payout ratio for 2012 about 150% of profits
- Total TEU handled by listed entities = 21.174M
- Base Fee is a fixed fee of US$2.5 million per annum, which is subject to increase each year by such percentage representing the percentage increase (if any) in the Hong Kong Composite Consumer Price Index. This is about 3.6%. The Trustee-Manager has elected to receive 100.0% of the Base Fee in cash for the Forecast Period 2011 and the Projection Year 2012
- The Trustee-Manager is entitled to receive a Performance Fee in relation to the Forecast Period 2011 and the Projection Year 2012 as follows when the DPU of HPH Trust exceeds the seasonally annualised 20111 forecast DPU of HK45.88 cents (the “Base DPU”):
a) a fee of 3.0% of the first 25.0% of excess DPU as compared to the Base DPU;
b) an additional fee of 6.0% of the next 25.0% of excess DPU as compared to the Base DPU (i.e. excess DPU above 25.0% and up to 50.0% of the Base DPU);
c) a further fee of 12.0% of the next 25.0% of excess DPU as compared to the Base DPU (i.e. excess DPU above 50.0% and up to 75.0% of the Base DPU); and
d) an additional further fee of 18.0% of any excess DPU above 75.0% of the Base DPU.
Previous post:
http://sgretailinvestor.blogspot.com/2011/02/hutchison-port-trust-ipo.html
- Indicative pricing = US0.91 to US 1.08
- 2010 profit margin = 26.46%. Proforma for unitholders around 18.8%
- 2010 EPS = US$0.0315. Thus PE Ratio (using US1.08) = 34.29. 2011
- Current Asset = US 937M. Current Liability = US 1447. Net current liability.
- Total Debt = US 5469M. Total unitholders = Us 9405M
- Expected payout ratio for 2012 about 150% of profits
- Total TEU handled by listed entities = 21.174M
- Base Fee is a fixed fee of US$2.5 million per annum, which is subject to increase each year by such percentage representing the percentage increase (if any) in the Hong Kong Composite Consumer Price Index. This is about 3.6%. The Trustee-Manager has elected to receive 100.0% of the Base Fee in cash for the Forecast Period 2011 and the Projection Year 2012
- The Trustee-Manager is entitled to receive a Performance Fee in relation to the Forecast Period 2011 and the Projection Year 2012 as follows when the DPU of HPH Trust exceeds the seasonally annualised 20111 forecast DPU of HK45.88 cents (the “Base DPU”):
a) a fee of 3.0% of the first 25.0% of excess DPU as compared to the Base DPU;
b) an additional fee of 6.0% of the next 25.0% of excess DPU as compared to the Base DPU (i.e. excess DPU above 25.0% and up to 50.0% of the Base DPU);
c) a further fee of 12.0% of the next 25.0% of excess DPU as compared to the Base DPU (i.e. excess DPU above 50.0% and up to 75.0% of the Base DPU); and
d) an additional further fee of 18.0% of any excess DPU above 75.0% of the Base DPU.
Previous post:
http://sgretailinvestor.blogspot.com/2011/02/hutchison-port-trust-ipo.html
Saturday, February 19, 2011
Hutchison Port Trust IPO
For Hutchison Port Holding's listing of the Trust, it seems that only
the 2 highlighted ports will be included in the trust. This is about
18M TEU (27.6%) out of its 65.3M TEU (based on 2009 data listed on its website).
the 2 highlighted ports will be included in the trust. This is about
18M TEU (27.6%) out of its 65.3M TEU (based on 2009 data listed on its website).
| Port / Business Unit | Throughput (thousands of TEU) |
 | Hong Kong and Yantian | ||||
| China - Yantian | 8,579 | |||
| Hong Kong - Kwai Tsing | 9,505 | |||
| Hong Kong - Tuen Mun | 1,701 | |||
| |||||
| The Mainland | ||||
| Shanghai | 8,238 | |||
| Ningbo | 1,773 | |||
| Pearl River Delta in Southern China - Jiuzhou, Gaolan, Nanhai, Jiangmen, Huizhou & Shantou | 1,151 | |||
| Xiamen | 930 | |||
| |||||
| North and South Asia | ||||
| Malaysia | 4,452 | |||
| South Korea | 2,903 | |||
| Indonesia | 2,296 | |||
| Thailand | 1,102 | |||
| Pakistan | 724 | |||
| Vietnam | N/A | |||
| Australia | N/A | |||
| |||||
| Middle East and Africa | ||||
| Saudi Arabia | 1,254 | |||
| Egypt | 482 | |||
| Tanzania | 327 | |||
| Oman | 99 | |||
| |||||
| Europe | ||||
| The Netherlands | 7,871 | |||
| United Kingdom | 3,534 | |||
| Spain | 908 | |||
| Poland | 149 | |||
| Italy | 745 | |||
| Sweden | 23 | |||
| |||||
| The Americas and The Caribbean | ||||
| Panama | 2,367 | |||
| The Bahamas | 1,323 | |||
| Mexico | 1,416 | |||
| Argentina | 278 | |||
Friday, February 18, 2011
Singapore Budget 2011
Budget 2011 for Individiuals
Industries that will benefit from Budget 2011
- CPF: Raise the employer contribution rate by another 0.5 percentage points, from 15.5% to 16%, which will restore the total contribution rate to 36%. The additional 0.5% will go into the Special Account. Revise the CPF Salary Ceiling from $4,500 to $5,000 per month. To take effect in September 2011.
- Income Tax Reduction for 2011: Personal income tax rebate of 20% for individual resident taxpayers for YA 2011. The rebate will be capped at $2,000
- Income Tax Reduction for 2012 (see table 1)
- Growth Dividends (see table 2) by 1st May 2011
- Household rebates (see table 3)
- SRS: Raise the contribution cap within the Supplementary Retirement Scheme.
- Child Development Credit scheme ($300-$400) for all Singaporean children aged six and below. The Child Development Credit can be used to pay for their children’s preschool, childcare, and medical expenses. The Child Development Credit will be paid into the Children Development Accounts (CDAs), which most children already have.
- Top-up each primary and secondary school student’s Edusave account by $130
- Top-up CPF Medisave Accounts of Singaporeans aged 45 and above. Those aged 45 to 49 will receive up to $300, while those aged 50 to 59 will get a top-up of up to $400. Older Singaporeans will receive more, with those 80 and above getting up to $700
- Remove radio ($27) and television ($110) licence fees permanently
Table 1
Table 2
Table 3
- Banks: Exempt all interest payments made by banks and similar financial institutions from withholding tax.
- Maritime (shipping, ports, ship builders): Withholding tax exemption for interest payments on loans to build or buy ships. GST zero-rating for repair and maintenance services performed on ship parts and components.
- Biomedical: GST relief for imported clinical trial materials, as well as enhance the Approved Contract Manufacturer and Trader Scheme
- Commodities: Enhance the Global Trader Programme to qualify all derivative trades under the scheme
- Green Vehicles: Extend the Green Vehicle Rebate scheme for another year till 31 December 2012. In the meantime, we will undertake a comprehensive review on the measures to promote the adoption of green vehicles, as part of our overall efforts to promote sustainable development
- IT and Machinery Suppliers: Allow businesses to deduct from their taxable income 400% of their expenditures in any of the six broad categories of investment under the scheme, for example, training or investment in automation equipment
- Construction: Spend $10 billion to upgrade homes and rejuvenate estates over the next 10 years
- Specialised storage facilities that store high-value collectibles such as art and antiques: GST zero-rating for specified services supplied to overseas persons, if they are performed on goods kept in qualifying specialised warehouses and eventually sent overseas
Wednesday, February 16, 2011
Industries to look out
Some industries that are worth looking out for potential companies with great future:
- Telco - The trend of channels providing retail shopping might change the way people buy and sell stuff
- Battery - With mobility the norm, alot hinges on good battery to support the life of devices
- High speed train providers - Time will come where high speed train will be the norm. With air security getting tighter and more inconvenient, the preferred mode of transportation might switch.
- Csr Corp Ltd. Previously China South Locomotive & Rolling Stock Corporation Limited. world's largest manufacturer of electric locomotives. In 2002 the group manufactured the 270 km/h (170 mph) China Star high speed EMU
- Ports - With global trade ever increasing, this is one big cash cow.
Sunday, February 6, 2011
Property and M2
Ms Teh Hooi Ling published an article in the Business Times on 29th Jan 2011, titled "How money grows in Singapore". In the article, she compiled the GDP, M2 money supply and Property Index for Singapore.
M2 money supply includes currency in active circulation, demand deposits of private sector, fixed deposits, savings and other deposits.
From the chart, it seems that property index follows the GDP pretty closely, other than 1997 period where it was well known to have a property bubble which subsequently burst.
Of course, this may not be the cause and effect, but it does make sense that property pricing goes hand in hand with GDP, which goes hand in hand with M2. If this correlation is strong, then the existing property prices seems to be fair, and likely sustainable.
M2 money supply includes currency in active circulation, demand deposits of private sector, fixed deposits, savings and other deposits.
From the chart, it seems that property index follows the GDP pretty closely, other than 1997 period where it was well known to have a property bubble which subsequently burst.
Of course, this may not be the cause and effect, but it does make sense that property pricing goes hand in hand with GDP, which goes hand in hand with M2. If this correlation is strong, then the existing property prices seems to be fair, and likely sustainable.
Thursday, February 3, 2011
BP resumes dividend payment
BP announced on 1st Feb 2011 that it will resume dividend payment for Q4 2010.
42cents per ADR to be given on 28th Mar 2011.
Although this is only exactly half of what it used to give before the oil leak crisis, it is nevertheless a good start. And with U.S$ depreciating, it is now cheaper to buy than before.
Link to BP's dividend history: http://www.bp.com/extendedgenericarticle.do?categoryId=9033054&contentId=7060587 (if the link does not work, traverse www.bp.com -> investors -> Shareholder Services -> ADS shareholders -> Dividend History)
Previous post on BP:
42cents per ADR to be given on 28th Mar 2011.
Although this is only exactly half of what it used to give before the oil leak crisis, it is nevertheless a good start. And with U.S$ depreciating, it is now cheaper to buy than before.
Link to BP's dividend history: http://www.bp.com/extendedgenericarticle.do?categoryId=9033054&contentId=7060587 (if the link does not work, traverse www.bp.com -> investors -> Shareholder Services -> ADS shareholders -> Dividend History)
Previous post on BP:
Sunday, January 30, 2011
Online Car Insurance Quotes
Online Insurers seem to offer much lower pricing. These are some of the insurers featured in Straits Time on 30th Jan 2011.
Aviva - http://www.aviva.com.sg/car-insurance/index.html
CompareXpress - http://www.comparexpress.com/
DirectAsia - http://www.directasia.com/onlineinsurance/insurance-online.aspx
Insure2Give - http://www.insure2give.com/
Aviva doesn't seem to offer NCD protector.
I personally chose DirectAsia.
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