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Sunday 27 April 2014

Cash - Closing Status 25 April

Collected the following dividends in this week under Cash portfolio :-

$84.20 Suntec Reit

Divested away Croesus Retail Trust 5 lots in this week as part of usual portfolio re-balancing for $52 nett gain.  It has 100% occupancy across all its four retail business properties in Japan.  Around 0.5% of leases are subjected for renewals in year 2014; and 20.5% of leases are for renewals in year 2015.  Each of the properties is strategically locate within its submarket, being directly connected via major transportation nodes.  63.4% of its gross rental income is derived from leases structured as fixed term leases, giving it greater flexibility to adjust rentals and tenant composition, or variable rent, allowing it to share any income upside with its tenants.  It has very high gearing of around 41.8% but at very cheap interest costs. It recently announced the completion of acquisition on two income-producing retail properties in Japan, namely Luz Omori and NIS Wave; which will increase DPU approximately from 7.01 Singapore cents to 7.41 Singapore cents.

Invested into CM Pacific 5 lots in this week under Cash portfolio as part of regular portfolio re-balancing.  For its 1Q2014 financial results, revenue +6% driven by the revenue growth from Yongtaiwen Expressway which accounted for 80% of its revenue.  Profit +14% driven by higher profit contribution from its toll road assets and the recognition of deferred income and effective interest income on compensation receivable from the relocation of certain toll stations along the Guihuang Highway. This was partly offset by higher finance costs and withholding tax and lower exchange gain.
Portfolio walk since previous posting :-

+$7,050 Total Returns as of 17 April

+$84 Dividends from Suntec Reit

+$52 Nett gain on sales of Croesus Retail Trust

-$559 Unrealised positions worsened

+$6,628 Total Returns as of 25 April

Previous posting :- Cash - Closing Status 17 April

Remarks :- Profits locked in to-date $15,031 / year 2014 $3,538

The golden goose of investment

Before killing the golden goose, it is important to do your self investment profiling and decide for yourself whether it is worthwhile.

If you have say NSL and it is paying special dividend, will you still keep chasing after this golden goose as its price keep escalating?  Some say yes.  Some say no.  l prefer a good night sleep.

If you have say, Keppel Corp and its rock solid investment worthy track record then is it good decision to kill this golden goose?  Some say yes as it reaching $12 resistant mark each time.  Some say no as it keeps generating good dividends. Others procrastinate and hoping for it to go back to its previous low level at $3.50 mark (haha ...).

To kill the golden goose of your investment, you decide yourself.
The correct answer lies with your own investment decision.

Also, trust your ability to rear another goose that lays more golden eggs for you.


Remarks : Adapted from the following websites 

1.Reaching for Financial Freedom in Singapore
1.Create Wealth Through Long-Term Investing and Short-Term Trading

ability to work and produce something valuable is the goose that lays golden eggs for you. The more ability you have, the more golden eggs you can earn. - See more at: http://www.amican.com/your-golden-goose/#sthash.ZD74TQtf.dpuf
Your ability to work and produce something valuable is the goose that lays golden eggs for you. The more ability you have, the more golden eggs you can earn. - See more at: http://www.amican.com/your-golden-goose/#sthash.ZD74TQtf.dpuf

Saturday 26 April 2014

Killing the Goose on NSL (a re-posting)

per original posting on 3 Feb'14 :-

>>>>>>>>>>


NSL announced the disposal of its subsidiary NSL Chemicals on 17 Nov and the disposal was completed on 3 Dec.  The transaction is expected to add 30 cents to NSL's net book value.

NSL share price on 15 Nov'13 at $1.44 and was at its 52 weeks high of $1.75 on 21 Jan'14.  Some say the special dividend have already been priced in by now.  But there are views that its share price will continue to climb to $2 mark.

There is no right or wrong answer whether an investor booking the profit now or wait till it goes beyond $2 mark.  Just make sure you check your greed temperament.

On value investing, Buffett says holding period is forever.  So, if an investor proclaim to be a champion of value investing then you will need to hold on to NSL forever; and not just going for the special dividend.   Investing into NSL for the sake of special dividend is trading (with greed) in the guise of value investing.  Don't kid yourself.

Let's say you have booked your profit on NSL already.  There should be no seller's remorse then if and when its share price continues to climb.  Believe in yourself that the capability to weave the same winning formula, again and again.  Well done!

There is no one ultimate and right way for value investing.  Can make money and have a good night sleep are very important.

Remarks : Adapted from the following website, Reaching for Financial Freedom in Singapore

NSL - sky is the limit? (2)

the XD effect on NSL

is it worth chasing it up and only coming back down to earth again?


http://sgchest.blogspot.com/2014/04/nsl-sky-is-limit.html

Sunday 20 April 2014

SRS - Closing status 17 April

Reduced Tee International 15 lots as part of usual portfolio re-balancing for $166 nett gain; total holding now at 45 lots.  Tee Intl soft financial results for 3Q2014; revenue -29.5% due to lower recognition of revenue and profit -ve 13% due to higher admin costs from the acquisition of Interlift Sales Pte Ltd.  It  proposed an issue of 2 warrants for every 5 shares issue (exercise price of S$0.25 per warrant)  to strengthen its capital base and support its expanding business activities.

Divested away Mapletree Logistics 2 lots in this week at small nett profit of $13 as part of usual portfolio re-balancing.  For its 3Q2014 financial results, NPI -0.2%; excluding the forex impact then NPI +4.0%.  Borrowing costs -23% due to lower average interest rates achieved and weaker JPY.  Impact of weaker JPY on distribution is mitigated by currency hedges.  95% of amount distributable is hedged into / derived in SGD.  100% of income stream from Japan has been hedged.  Amount distributable to unitholders +8% driven by enlarged portfolio, positive rental reversions and lower financing costs.  NAV as of end Dec'13 at $0.93 but Mr Market says it is worth $1.085 at the moment.  Aggregate leverage ratio 33.9%.  73% of total debt hedged into fixed rates.  Portfolio occupancy 98.4%.    

Divested away Mapletree Industrial 2 lots in this week under CPF portfolio as part of usual portfolio re-balancing for $53 nett gain.   Using previous quarter dividends rate, the expected Qtr 4 dividends will be at $50 (2 lots x $0.0251) so, l have already collected its Qtr 4 dividends in advance. In 2013, the payment date was on 4th June.  For its 3Q2014 financial results, NPI +12.0%.  81% of borrowings had been hedged through interest rate swaps and fixed rate borrowings.  Amount distributable to unitholders +12.0%.  NAV as of end Dec'13 at $1.11 but Mr Market says it is worth $1.425 at the moment.   Aggregate leverage ratio 36.3%.  As of end Dec'13, net current liabilities position due to the reclassification of long term borrowings which are maturing in Aug'14 and Sep'14 (for financial year 2015).  It has existing banking facilities available to refinance most of these borrowings and has also obtained in-principle agreement with certain banks to refinance these loans on a longer term basis.  Portfolio occupancy 92.5%.  It recently signed a sale and purchase agreement to acquire a four-storey light industrial building located at 2A Changi North Street 2 on a sale-and-leaseback arrangement; completion of acquisition expected in 2nd Quarter of 2014.  has signed an agreement with Hewlett-Packard Singapore to develop and lease a new build-to-suit facility (BTS) at its existing Telok Blangah Cluster.  The proposed redevelopment is slated for completion in the first half of 2017 and will be carried out in two phases.  It has sufficient financial capacity to fund the BTS Facility.  Assuming the BTS Facility is fully funded by debt, the aggregate leverage ratio is expected to increase progressively from 36.3% (as at 31 December 2013) to 41.0% upon completion of the BTS Facility.

Invested into CM Pacific 5 lots in this week under SRS portfolio as part of usual portfolio re-balancing.  Revenue for FY2013 +31% mainly due to the consolidation of contribution from Beilun Port Expressway, which was acquired in November 2012 and the revenue growth from
Yongtaiwen Expressway.   Profit was flat; the exceptional gain of HK$365.1 million recorded on disposal of Yu Yao joint ventures in 2012, offset by impairment loss adjustments amounting to HK$87.4 million upon remeasurement of the property development business classified as disposal group.  It maintains its free cash flow status. It declares higher final dividend of 4.25 cents per share.


Divested away CDL Hospitality Trusts 2 lots at a small nett profit of $25 in this week, as part of usual portoflio re-balancing.  For its 4Q13 results, net property income +2.5%; income available for distribution per unit +0.6%.  Income from acquisition growth in 2013 has mitigated the impact of the softer trading conditions experienced in Singapore.  Its healthy gearing puts it in good stead to capitalise on expansion opportunities as it continues to actively seek yield-accretive acquisition opportunities in the hospitality sector.  Orchard Hotel Shopping Arcade, currently under AEI will be rebranded as "Claymore Link"; incremental rental income to be more than S$2.0 million on an annualized basis.

Portfolio walk since previous posting :-

+$8,331 Total Returns as of 11 April

+$257 Nett gains on sales of Tee Intl, Mapletree Logistics, Mapletree Industrial, CDL HTrust

+$259 Unrealised positions improved

+$8,847 Total Returns as of 17 April

previous posting :- SRS - Closing status 11 April

Remarks :- Profits locked in to-date $15,044 / year 2014 $2,442

Saturday 19 April 2014

Cash - Closing Status 17 April

Reduced Far East Hospitality Trust 1 lot at break-even in this week, as part of usual portoflio re-balancing; remaining balance at 6 lots.  In its 4Q13 results, NPI -2.4%, Income available for distribution -2.2% as industry challenges remained. Rental from serviced residences and excluded commercial premises exceeded Forecast and helped to mitigate the shortfall in master lease rental derived from hotels.  Following the acquisition of the Rendezvous Hotel Singapore on 1 August 2013, it has embarked on soft refurbishments of the reception area, lobby bar and club rooms to reposition it as an art-inspired hotel, in synchronisation with the character of the precinct. The refurbishments were completed and the hotel was re-launched in January 2014.  It will continue to optimise the value of its existing assets and try to improve their competitiveness by implementing asset enhancement initiatives in a holistic and progressive manner. For 2014, it has planned for renovations at The Elizabeth Hotel, Village Hotel Albert Court, Village Hotel Changi and Regency House.  As at 31 December 2013, 62% of its debt portfolio or all of its debt maturing beyond 2016, is locked in at fixed interest rates, providing for stability in a rising interest rate environment.

Divested away Saizen Reit 2 lots in this week as part of usual portfolio re-balancing for $41 nett gain.  In its 2Q14 results, NPI +3.3%, profit +15.6%.  Quarter-on-quarter, NPI remained stable.  Average occupancy rate at 90.6%.  With the onset of the major leasing season in the months of February to April, occupancy demand is expected to increase.  Distribution per unit dropped to 3.25 cents from 3.30 cents due to effect of unit consolidation completed on 8 Nov'13. Deloitte had been appointed in Dec’13 as an independent financial adviser to undertake a strategic review of options for enhancing unitholder’s value and it remains on-going.  Nearest loan maturity is in Feb 2018.

Portfolio walk since previous posting :-

+$6,173 Total Returns as of 11 April

+$46 Nett gain on sales of Saizen Reit, Far East HTrust

+$831 Unrealised positions improved

+$7,050 Total Returns as of 17 April

Previous posting :- Cash - Closing Status 11 April

Remarks :- Profits locked in to-date $14,894 / year 2014 $3,402

CPF - Closing Status 17 April

Divested away Mapletree Logistics 2 lots in this week at break-even as part of usual portfolio re-balancing.  For its 3Q2014 financial results, NPI -0.2%; excluding the forex impact then NPI +4.0%.  Borrowing costs -23% due to lower average interest rates achieved and weaker JPY.  Impact of weaker JPY on distribution is mitigated by currency hedges.  95% of amount distributable is hedged into / derived in SGD.  100% of income stream from Japan has been hedged.  Amount distributable to unitholders +8% driven by enlarged portfolio, positive rental reversions and lower financing costs.  NAV as of end Dec'13 at $0.93 but Mr Market says it is worth $1.085 at the moment.  Aggregate leverage ratio 33.9%.  73% of total debt hedged into fixed rates.  Portfolio occupancy 98.4%.    

Divested away Mapletree Industrial 2 lots in this week under CPF portfolio as part of usual portfolio re-balancing for $52 nett gain.   Using previous quarter dividends rate, the expected Qtr 4 dividends will be at $50 (2 lots x $0.0251) so, l have already collected its Qtr 4 dividends in advance. In 2013, the payment date was on 4th June.  For its 3Q2014 financial results, NPI +12.0%.  81% of borrowings had been hedged through interest rate swaps and fixed rate borrowings.  Amount distributable to unitholders +12.0%.  NAV as of end Dec'13 at $1.11 but Mr Market says it is worth $1.425 at the moment.   Aggregate leverage ratio 36.3%.  As of end Dec'13, net current liabilities position due to the reclassification of long term borrowings which are maturing in Aug'14 and Sep'14 (for financial year 2015).  It has existing banking facilities available to refinance most of these borrowings and has also obtained in-principle agreement with certain banks to refinance these loans on a longer term basis.  Portfolio occupancy 92.5%.  It recently signed a sale and purchase agreement to acquire a four-storey light industrial building located at 2A Changi North Street 2 on a sale-and-leaseback arrangement; completion of acquisition expected in 2nd Quarter of 2014.  has signed an agreement with Hewlett-Packard Singapore to develop and lease a new build-to-suit facility (BTS) at its existing Telok Blangah Cluster.  The proposed redevelopment is slated for completion in the first half of 2017 and will be carried out in two phases.  It has sufficient financial capacity to fund the BTS Facility.  Assuming the BTS Facility is fully funded by debt, the aggregate leverage ratio is expected to increase progressively from 36.3% (as at 31 December 2013) to 41.0% upon completion of the BTS Facility.

Divested away Keppel Reit 3 lots in this week as part of usual portfolio re-balancing for $33 nett gain which is only 55% of the actual dividends declared (3 lots x $0.0197 x 55%).  In its recent 1Q2014 financial results and versus last year;  DPU stayed the same at 1.97 cents;  Property expenses  now stabilized at +4.3%;  NPI higher by 14.7% resulted from improved performance from Ocean Financial Centre and Prudential Tower, as well as the additional income from 8 Exhibition Street in Melbourne;  Profit +20.1% due to higher NPI, higher interest income, higher share of results of associates and jv, lower trust expenses and lower amortization expenses; but offset by lower rental support, higher borrowing costs and management fees as a results of the larger portfolio of assets under management.  As of end Qtr 1, its NAV was valued at $1.39 but Mr Market believes that it is worth much lesser with its Friday closing price at $1.24.  99.8% committed occupancy as at end Mar'14.  Approximately 3.1% of portfolio NLA due for renewal and 6.3% of portfolio NLA due for rent review in 2014.  Nearly 68% of the borrowings are at fixed interest rates.  In 1Q 2014, early refinancing of a further 33% and 16% of borrowings due in 2015 and 2016 respectively.   Aggregate leverage at 42.4%.
 Portfolio walk since previous posting :-

-$7,902 Total Returns as of 11 Apr

+$86 Nett gain on sales of Keppel Reit, Mapletree Industrial, Mapletree Logistics

+$1,298 Unrealised positions improved

-$6,517 Total Returns as of 17 Apr

previous journal :- CPF - Closing Status 11 Apr

Remarks :- Profits locked in to-date $1,226 / year 2014 $581

Sunday 13 April 2014

SRS - Closing status 11 April

Received the SRS statement from the bank in this week for March month which showed the following dividends collected for my SRS portfolio :-

$73.60 Mapletree Logistics
$50.20 Mapletree Industrial
$55.40 AIMS AMP Industrial
$202.50 Tee International
$330.40 Asian Pay TV
$157.20 Croesus Retail

Added Tee International 15 lots as part of usual portfolio re-balancing; total holding now at 60 lots.  Tee Intl soft financial results for 3Q2014; revenue -29.5% due to lower recognition of revenue and profit -ve 13% due to higher admin costs from the acquisition of Interlift Sales Pte Ltd.  It  proposed an issue of 2 warrants for every 5 shares issue (exercise price of S$0.25 per warrant)  to strengthen its capital base and support its expanding business activities.


Portfolio walk since previous posting :-

+$6,235 Total Returns as of 4 April

+$869 Dividends - AIMS AMP Industrial, Croesus, Asian Pay TV, Tee Intl, Mapletree Logistics, Mapletree Industrial

+$1,227 Unrealised positions improved

+$8,331 Total Returns as of 11 April

previous posting :- SRS - Closing status 4 April

Remarks :- Profits locked in to-date $14,787 / year 2014 $2,185

CPF - Closing Status 11 April

Received the CPF Investment statement from the bank in this week for March month. Have updated CPF portfolio with the correct charges incurred on both investments and divestments made.

Collected the following dividends in March month for my CPF portfolio :-

$135.00 Tee International
$55.40 AIMS AMP Industrial Reit
$50.20 Mapletree Industrial

Divested away Ascott Reit for a small nett gain of $12 as part of usual portfolio re-balancing in this week.  In its 4Q2013 financial results, revenue +11% mainly due to the additional contribution of S$8.3 million from the properties acquired in November 2012 and June 2013 and stronger performance from Belgium and France.  RevPAU -7% mainly due to weaker performance from Philippines and Japan (arising from depreciation of Japanese Yen) and relatively lower average daily rate from the newly acquired properties in China.  It made two yield accretive acquisitions recently; (1) serviced residence property in Dalian, China (2) rental housing property in Fukuoka, Japan.   In China, it currently owns seven serviced residences with more than 1,200 apartment units across Beijing, Guangzhou, Shanghai, Shenyang, Suzhou and Tianjin.  In Japan, it currently owns three serviced residences and 30 rental housing properties with about 1,900 apartment units across major cities including Tokyo, Fukuoka, Hiroshima, Kyoto, Saga, Sapporo and Sendai.
 Portfolio walk since previous posting :-

-$9,182 Total Returns as of 7 Mar

+$241 Dividends received : Mapletree Industrial, Tee Intl, AIMS AMP Industrial

+$12 Nett gain on sales of Ascott Reit

-$26 Realized transactions differences and Qtr 1 service charge per CPF Investment statement

+$1,053 Unrealised positions improved

-$7,902 Total Returns as of 11 Apr

previous journal :- CPF - Closing Status 7 Mar

Remarks :- Profits locked in to-date $1,139 / year 2014 $495

Saturday 12 April 2014

Cash - Closing Status 11 April

 Donated $40 to Ain Society in this week. 

Added GRP Ltd 19 lots in this week but divested it away in the same week as part of usual portfolio re-balancing for $85 nett gain; remaining 11 lots.  For its HY2014 financial results, revenue +5.7% with growth in all the three business divisions.  Strong demand in Hose & Marine and ramp up in orders from a middle east customer for its uPVC.   Administrative expenses -6.7%.  Profit 24.4%.  Free cash flow status at the moment.  Cannot understand reason(s) for not declaring any dividends with this set of good results.  The ex-President of REDAS, Mr Teo Tong How will be part of GRP's independent non-executive director and chairman of the board of directors.  Mr. Teo will add tremendous value to GRP due to his vast knowledge, experience and network in property development, and property investments.

Re-invested into Croesus Retail Trust 5 lots in this week as part of usual portfolio re-balancing.  It has 100% occupancy across all its four retail business properties in Japan.  Around 0.5% of leases are subjected for renewals in year 2014; and 20.5% of leases are for renewals in year 2015.  Each of the properties is strategically locate within its submarket, being directly connected via major transportation nodes.  63.4% of its gross rental income is derived from leases structured as fixed term leases, giving it greater flexibility to adjust rentals and tenant composition, or variable rent, allowing it to share any income upside with its tenants.  It has very high gearing of around 41.8% but at very cheap interest costs. It recently announced the completion of acquisition on two income-producing retail properties in Japan, namely Luz Omori and NIS Wave; which will increase DPU approximately from 7.01 Singapore cents to 7.41 Singapore cents.


Portfolio walk since previous posting :-

+$5,377 Total Returns as of 4 April

-$40 Donation to Ain Society

+$85 Nett gain on sales of GRP

+$751 Unrealised positions improved

+$6,173 Total Returns as of 11 April

Previous posting :- Cash - Closing Status 4 April

Remarks :- Profits locked in to-date $14,848 / year 2014 $3,356

Thursday 10 April 2014

Ain Society

Donated $40 to Ain Society.

http://www.ainsociety.org.sg/


Introduction
Ain Society was first formed when a group of activists from Woodlands wanted the community spiritedness and sense of voluntarism be harnessed and channelled in a platform that is more coordinated and systematic. Since its inception on October 2000, Ain Society gained from strength to strength and was known of its ability to mobilise layman to attend social and educational programme.

What programmes is available in Ain Society?
(1) Preventive Programmes which offers a range of developmental programmes that are preventive in nature, targeted at main stream youths aged 10- 18 years old.

(2) Remedial Programmes in which BBE Gen - Y Youth Hub caters to help the out-of-school youths and youth at high risks to be reinstated into schools while equipping them with social skills, vocational training and IT skills. Recreation and the arts, creative and performing arts such as graffiti, mural painting, music, dance and drama will also be offered to provide a balance in their lives. Job opportunities will be created for youths who are not eligible to be reinstated into schools. Ain Society also established a partnership with the Community Leaders Forum with Mendaki as its Secretariat, to run its Max Out Programme. To date more than 240 out-of-school youths were registered for the programme.

(3) Rehabilitative Programmes: Since 2003, Ain Society has been engaged by the Probation Services Branch of MCYS to conduct its mandatory programmes for probationers and their parents.  More than 300 probationers and their parents have benefited from the programmes.

What are the different preventive programmes that Ain Society offers?
(1) Cool Teens & Cool Parents
This is a holistic programme developed by Ain Society to bridge relationship between parents and their teenagers.  Through group work sessions, the families were given opportunities to create a common value and belief system.  While teens need more appreciation and understanding of their needs and challenges, parents need the support and reinforcement from fellow parents to continue their roles as responsible and effective parents.  The programme was supported by the Ministry of Community Development, Youth and Sports (MCYS) and implemented at mosques, schools and grassroots organisations.  More than 500 youths and their parents benefited from this programme.

 (2) Kem Perkasa Programme
Kem Perkasa is one of Ain Society's signature programmes.  Since 2005, we have organized 14 camps during the school holidays, with at least 60 youths participating in each camp.  As such, more than 840 youths have benefited from this programme, which aims to enhance their life skills, self-confidence and self-esteem through fun-filled activities.  Participants of the camps who display potential leadership qualities are chosen to be groomed as our youth leaders, who are then given lots of opportunities to be involved in our future activities.  Thus, Kem Perkasa is also a platform for us to identify new youth leaders with fresh energy and ideas in making our programmes more interesting, attractive and beneficial for other youths.

  (3)Youth Carnivals & Performing Arts
Since the setting up of its youth development centre, BBE Gen-Y Youth Hub, Ain Society has organized more than three youth and family carnivals.  These are one-off events which created platforms to showcase our youths' talents, encourage community involvement and contributions and profile young role models by inviting young celebrities to be involved in the programmes.
Performing arts concerts and performances were held at various functions and occasions island wide, by our youths who have talents and are trained in performing arts, such as drama road shows and playing the Kolintang musical instruments.  Energetic and full of enthusiasm, our youths are constantly seeking for opportunities to showcase their multifarious talents as they strive to work towards a better future. More than 2,000 youths participated in these carnivals and performances

Why is Ain Society placing emphasis on building the fullest potential of teenagers?
We started off doing youth programmes at schools and community centres. As we progress, we found that there are many youths who need help and further assistance. Thus, the CEO of Ain Society decided to create a place for the youths to go to. The centre, BBE Gen Y at Bukit Batok was set up to create a place for the youths to enhance their life skills.

What are the objectives of initiating the Malay Cancer Support Group?
Ain Society aims to be one of the leading not-for-profit organizations to empower specifically the Malay cancer survivors. The Malay Cancer Patient Support Group is hoped to be set up with the purpose of empowering patients to be self-resilient by providing them with emotional, financial and spiritual skills and knowledge development support through specially-designed activities. We also hope to help address the various concerns these cancer patients and their family members might have, and provide an avenue for them to share their experiences through counselling and sharing sessions.

- The main objectives of initiating the Malay Cancer Patient Support Group are as follows:
   (a)  To provide social support so that they can empower themselves through skills and knowledge development, hence building self-reliance.

  (b)  To provide emotional support to ensure that they are living to their fullest potential

  (c)  To provide financial assistance according to AIN's financial affordability.

  (d)  To provide spiritual support to the cancer survivors and give them new directions in life


What is EPS?
The Empowerment Partnership Scheme (EPS) is a holistic help package provided by the Islamic Council of Singapore (MUIS) for poor and needy families covering economic, social and religious empowerment programmes.  Each family is entrusted by MUIS to a service provider, often a Voluntary Welfare Organisation (VWO), to customize programmes for each family member and managed by an assigned family counsellor cum case manager.  The scheme is targeted at families facing multiple challenges.

Since 2004, Ain Society has been entrusted to be one of the working partners of MUIS in providing programmes under its EPS Scheme. More than 100 families consisting of family members of 400 individuals have benefited from the various programmes conducted and organized by Ain Society that encompass social, economic and religious components.

The programme has effectively affect change. Equipped with the various knowledge and skills, clients were empowered to better manage their problems and have succeeded in addressing their financial difficulties with greater work opportunities.


What is the difference between EPS and Family Outreach (FO)?
EPS is a scheme under MUIS. It is also funded by MUIS. Our Family Outreach programme is for Ain Society own clients with income of less than $1500 in a family. An Example of a Family Outreach programme is "Project We Care" which is  an outreach programme rising from efforts made by the staff to reach out to the poor and needy families, who are not receiving any financial assistance from other agencies. Currently, school pocket money assistance is provided for these families by providing their school-going children with transport allowance and school basic needs. The financial assistance will be given for a period of 3 months, after which their cases will be reviewed. During this period, our staff will help to link them up to relevant bodies and agencies to help them improve their situations. To date, more than 50 families have benefited from this project.


Wednesday 9 April 2014

NSL - sky is the limit?

wow!
need both knowledge and wisdom to be in NSL?
no balls to get into NSL?

Sunday 6 April 2014

Cash - Closing Status 4 April

Received the following dividends in this week for my Cash portfolio :-

$145.09 HPH Trust S$D
$113.60 Far East HTrust
$949.90 Asian Pay TV Trust
$135.00 Tee International
$52.40 Croesus Retail Trust

Divested away CDL Hospitality Trusts 2 lots at break-even in this week, as part of usual portoflio re-balancing.  For its 4Q13 results, net property income +2.5%; income available for distribution per unit +0.6%.  Income from acquisition growth in 2013 has mitigated the impact of the softer trading conditions experienced in Singapore.  Its healthy gearing puts it in good stead to capitalise on expansion opportunities as it continues to actively seek yield-accretive acquisition opportunities in the hospitality sector.  Orchard Hotel Shopping Arcade, currently under AEI will be rebranded as "Claymore Link"; incremental rental income to be more than S$2.0 million on an annualized basis.

Reduced GRP Ltd 75 lots in this week for $349 nett gain as part of usual portfolio re-balancing; remaining 11 lots.  For its HY2014 financial results, revenue +5.7% with growth in all the three business divisions.  Strong demand in Hose & Marine and ramp up in orders from a middle east customer for its uPVC.   Administrative expenses -6.7%.  Profit 24.4%.  Free cash flow status at the moment.  Cannot understand reason(s) for not declaring any dividends with this set of good results.  The ex-President of REDAS, Mr Teo Tong How will be part of GRP's independent non-executive director and chairman of the board of directors.  Mr. Teo will add tremendous value to GRP due to his vast knowledge, experience and network in property development, and property investments.

Invested into OUE Hospitality Trust 1 lot in this week but have decided to divest it away in the same week after achieving the profit target set of $21 or 2.5%.    In its recent 4Q13 results, NPI +0.6% mainly driven by higher food & beverage revenue from banquet sales and corporate meetings which more than compensated for slightly lower room revenue compared to forecast.  Income available for distribution +2.3% higher due to higher NPI coupled with lower trust expenses incurred.  As at end 2013, it has completed the conversion of 26 guest rooms, increasing the number of guest rooms to 1,077. In addition, 32 guest rooms have been refurbished and these rooms have achieved room rates which are about 15% higher than the non-refurbished rooms.  The asset enhancement programme to renovate 430 guest rooms at Mandarin Orchard is funded by the Sponsor, and is expected to be completed in phases in 2014 and 2015. The refurbishment schedule will be tailored to minimize disruption to the normal service of the hotel so that the occupancy of the hotel will continue to be optimised.

Reduced Far East Hospitality Trust 1 lot at break-even in this week, as part of usual portoflio re-balancing; remaining balance at 7 lots.  In its 4Q13 results, NPI -2.4%, Income available for distribution -2.2% as industry challenges remained. Rental from serviced residences and excluded commercial premises exceeded Forecast and helped to mitigate the shortfall in master lease rental derived from hotels.  Following the acquisition of the Rendezvous Hotel Singapore on 1 August 2013, it has embarked on soft refurbishments of the reception area, lobby bar and club rooms to reposition it as an art-inspired hotel, in synchronisation with the character of the precinct. The refurbishments were completed and the hotel was re-launched in January 2014.  It will continue to optimise the value of its existing assets and try to improve their competitiveness by implementing asset enhancement initiatives in a holistic and progressive manner. For 2014, it has planned for renovations at The Elizabeth Hotel, Village Hotel Albert Court, Village Hotel Changi and Regency House.  As at 31 December 2013, 62% of its debt portfolio or all of its debt maturing beyond 2016, is locked in at fixed interest rates, providing for stability in a rising interest rate environment.

Invested into Saizen Reit 2 lots in this week as part of usual portfolio re-balancing.  In its 2Q14 results, NPI +3.3%, profit +15.6%.  Quarter-on-quarter, NPI remained stable.  Average occupancy rate at 90.6%.  With the onset of the major leasing season in the months of February to April, occupancy demand is expected to increase.  Distribution per unit dropped to 3.25 cents from 3.30 cents due to effect of unit consolidation completed on 8 Nov'13. Deloitte had been appointed in Dec’13 as an independent financial adviser to undertake a strategic review of options for enhancing unitholder’s value and it remains on-going.  Nearest loan maturity is in Feb 2018.


Portfolio walk since previous posting :-

+$3,276 Total Returns as of 28 March

+$1,396 Dividends from Croesus, HPH Trust, Far East HTrust, Asian Pay TV, Tee Intl

+$373 Nett gain on sales of GRP, Far East HTrust, OUE HTrust, CDL HTrust

+$332 Unrealised positions improved

+$5,377 Total Returns as of 4 April

Previous posting :- Cash - Closing Status 28 Mar

Remarks :- Profits locked in to-date $14,763 / year 2014 $3,271

Saturday 5 April 2014

SRS - Closing status 4 April

Divested away DBS Group 605 shares in this week under SRS portfolio as part of usual portfolio re-balancing for $161 nett gain.  For its 3Q13 financial results and versus year ago :- Net interest income +6% because loans +19% but the impact was partially offset by lower loan spreads and yields on investment securitie; Non-interest income +11% because trade and transaction services, wealth management and treasury cross-selling contributed to the increase; Expenses +5% as staff and other operating costs were higher.  Net profit fwas flat as the increase in total income was offset by higher general and specific allowances, in line with faster loan growth. Non-performing loan rate at 1.2%.

Reduced  CDL Hospitality Trusts 2 lots for $22 nett gain as part of usual portoflio re-balancing; remaining 2 lots.  For its 4Q13 results, net property income +2.5%; income available for distribution per unit +0.6%.  Income from acquisition growth in 2013 has mitigated the impact of the softer trading conditions experienced in Singapore.  Its healthy gearing puts it in good stead to capitalise on expansion opportunities as it continues to actively seek yield-accretive acquisition opportunities in the hospitality sector.  Orchard Hotel Shopping Arcade, currently under AEI will be rebranded as "Claymore Link"; incremental rental income to be more than S$2.0 million on an annualized basis.

Portfolio walk since previous posting :-

+$5,776 Total Returns as of 28 March 

+$183 Nett gain on sales of DBS Group. CDL HTrust

+$277 Unrealised positions improved

+$6,235 Total Returns as of 4 April

previous posting :- SRS - Closing status 28 March

Remarks :- Profits locked in to-date $13,918 / year 2014 $1,316

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