1. SPH Reit  --  4th Jan 20192. SPH  --  11th Jan 20193. First Reit  --  16th Jan 20194. FrasersCom Trust  --  18th Jan 20195. Kep Reit  --  21st Jan 20196. Frasers Cpt Trust  --  21st Jan 20197. Mapletreelog Trust  --  21st Jan 20198. Kep DC Reit  --  22nd Jan 20199. Kep Infra Trust  --  22nd Jan 201910. MapletreeInd Trust  --  22nd Jan 201911. MapletreeCom Trust  --  23rd Jan 201912. Kep T&T  --  23rd Jan 201913. Suntec Reit  --  23rd Jan 201914. CapitaMall Trust  --  23rd Jan 201915. SGX  --  24th Jan 201916. Kep-KBS US Reit  --  24th Jan 201917. Kep Corp  --  24th Jan 201918. Frasers L&T  --  24th Jan

Hi-P International Ltd (SGX: H17) is an integrated contract manufacturer that provides a one-stop solution for customers from various industries such as telecommunications, consumer electronics, computing and peripherals. Yesterday, Hi-P released its financial results for the full year ended 31 December 2018 (FY2018). Let’s look at the key highlights from the earnings announcement here. Financial highlights Source: Hi-P International Ltd 2018 earnings presentation Hi-P’s revenue for 2018 fell 1.7% year-on-year to S$1.40 billion, down from S$1.43 billion in 2017. Gross profit tumbled 12.3% to S$204.2 million, bringing the gross profit margin for the year to 14.6% from 16.3% a year ago. Price competition and increasing labour costs were some of the reasons cited by Hi-P for the reduce

A raft of Jardine companies are pencilled in for results next week. Jardine Cycle & Carriage (SGX: C07) said in November that underlying profit rose 21% thanks to better performance at its Astra unit. Revenue was up 10%. Hongkong Land (SGX: H78) said in November that it’s financial position remains strong. It added that it saw positive rental reversion in its Central office portfolio as market supply remained tight. On the food front, Dairy Farm International (SGX: D01) expects full-year results to be impacted by increasing costs from its continuing programme of investment in technology, supply-chain infrastructure, stores and people. It also warned of weakening margins from increased rents. There are also results from conglomerates Jardine Strategic (SGX: J37) and Jardine Matheso

Genting Singapore Limited (SGX: G13) reported that net profit for the quarter increased on the back of strong contribution from the company’s non-gaming segment. The latest report was for full-year earnings for the year ending 31 December 2018. Genting Singapore is a Singapore based regional leisure, hospitality, and integrated reposorts developer and owner. Let’s take a quick look at the results. Revenue increased by 6% year-on-year to S$2.54 billion. Strong growth was seen in both the non-gaming revenue, which was up 7% on the year, and gaming where revenue increased by 6%. Operating profits came in 9% higher year on year at S$975.2 million. Consequently, net profit attributable to shareholder rose by 12% over the same period to S$755.3 million. Earnings per share followed suit r

I’ve written previously about the Piotroski score, which helps to score and rank companies based on a series of attributes. This represents a quick and easy method to sort out the good from the bad companies, and it allows investors to filter out the undesirable companies much more quickly. Now I would like to introduce the Altman-Z Score (“Altman”), which is a formula devised by professor of finance Edward I. Altman back in the 1960s. This score is used to identify companies that may become insolvent in the next two years using multiple metrics from income statements and balance sheets. The Altman-Z Score formula The formula for the Z-Score is as follows: Z-Score = 1.2A + 1.4B + 3.3C + 0.6D + 1.0E A = Working Capital* / Total Assets B = Retained Earnings / Total Assets

I recently witnessed a great live band playing classic rock songs at Wala Wala Cafe Bar in Holland Village, and as each musician was displaying their talent for their chosen instrument, be it the electric guitar, keyboard, or drums, it suddenly struck me that music has many similarities to investing. Enjoying the process The musicians were enjoying the process of playing the music they loved and grew up with. Similarly, with investing, we should also enjoy the process and treat it as a learning journey, as well as something that will enrich us and provide us with a better world view. It’s amazing how we can learn so much more effectively if we embrace the process and show an active interest in learning more about companies and businesses. Refining one’s craft As I watched each

When it comes to portfolio management, every investor has his own style and rules which he abides by. Some may like a diversified portfolio of 20-30 stocks, while others may prefer a concentrated, focused portfolio of less than 10 names. What’s contentious though, is the amount of cash an investor should hold at any point in time. Some investors feel that cash is, after all, king, and therefore, they should continue to hold large amounts as a buffer. Others are of the view that too much cash means fewer opportunities to compound, and this may also drag the portfolio’s performance over time. So which stance should you take? Defining Cash Levels So what actually constitutes “a lot” or “a little” in terms of cash levels? This is obviously somewhat subjectiv

While investing is usually understood to be a numbers exercise, I would like to assure readers that there are many non-financial and non-numerical aspects to investing which also have to be considered. A holistic approach should be taken when it comes to corporate analysis, and this involves both the quantitative and qualitative approach. Financial statements and ratios do form the backbone of any analysis, but when it comes to what drives these numbers in future, it’s important to look at both the human and operational aspects of the business. Here are several qualitative aspects of analysis which investors should take note of. Catalysts And Strategic Initiatives A company should be able to articulate a clear strategy for growth, milestones to watch out for and also initiatives it i

SBS Transit Ltd (SGX: S61) is a provider of bus and rail services in Singapore. Under the bus services, it runs multiple bus packages, which it had successfully bid for from the government. Under the rail services business, SBS Transit operates the North East Line (NEL), the Downtown Line (DTL), and the Sengkang and Punggol Light Rapid Transit (SPLRT). SBS Transit announced its financial results for the full year ended 31 December 2018, yesterday. Let’s have a quick look to see how it did. Financial highlights  Here are some of the key financial highlights from the latest full-year results: 1) Revenue grew 16.1% year-on-year to S$1.38 billion. 2) Total operating costs increased by 13.6% to S$1.28 billion. 3) As a result, operating profit surged 64% to S$97.3 million. 4) Profit attributa

Sunningdale Tech Ltd (SGX: BHQ) is a manufacturer of precision plastic components. For investors who are looking to invest in Sunningdale, it is essential for them to know how the company brings in the revenue. Buying shares in a company without knowledge of how it makes money is not advisable. With that, let’s look at the revenue contribution of each of Sunningdale’s business segments for the financial year ended 31 December 2017 (FY2017): Source: Sunningdale Tech Ltd 2017 annual report The Automotive business segment mainly produces faceplates to be used in cars such as on the audio systems, speedometers, steering switches and exterior antennas. In 2017, this segment accounted for 36.4% of Sunningdale’s total revenue of S$724.5 million. Next, the Consumer/IT division fabricates IT

Last month, my Foolish colleague, Chong Ser Jing, revealed the 30 best stocks to buy in Singapore for 2019. The shares were discovered with the help of the Magic Formula, an investing strategy made famous by Joel Greenblatt in his book, The Little Book That Beats The Market. From that list of 30 shares, I picked out three companies that look interesting. Here they are. Company #1 The first company on my list is Boustead Singapore Limited (SGX: F9D), a global service provider of infrastructure-related engineering services and geo-spatial technology solutions. It recently added a healthcare business to its suite of services. Boustead Singapore’s share price has fallen from a high of S$1.93 in April 2014 to S$0.80 right now. The slowdown in the global oil and gas industry and Singaporeâ€

The title of this article may seem weird, but it is something which has been bugging me for a few years now. So, I thought I would articulate the issue here for others to understand it better. In investing, no man is an island and everyone would seek social proof and validation to some extent. Very few investors are able to completely shut the world out and stay solitary – humans generally require a certain level of social interaction and networking to function normally. Moreover, one way to obtain good investment ideas and suggestions is to talk to other knowledgeable and skilled investors. However, I realized over time that the search for other investors can be arduous and time-consuming, and that the key is to be patient. A kindred spirit It took me some time to be able to find a

We highlight two investment themes that UOBKH recommends for investing: Dividend From Cash Machines and M&A Plays. Investors Takeaway: 2 Cash Rich Stocks For Dividend Seekers With the rising interest rate environment, UOBKH recommends investors to focus on high dividend yield stocks that are less correlated with higher rates. For this investment theme, UOBKH favours CSE Global and Valuetronics. There are also large caps that UOBKH prefers, like SingTel, DBS, SATS and ST Engineering. According to UOBKH’s estimates, these stocks offer sustainable dividend yields of at least four percent. They are also forecasted to grow their dividends in the next 1-2 years. CSE Global CSE Global has benefitted from higher oil prices in 2018. Going forward, there are potential synergies from its new

For the past quarters, manufacturers have been enjoying a boom in investors’ demand as Singapore’s economy recovers. But ever since US President Trump started his trade war rhetoric against China, manufacturers have fallen out of favour. Trade War, Rising Labour Costs And Rising Raw Material Costs Among Headwinds For Manufacturers The concern was largely surrounding the impact of the trade war on global trade and global economic growth. As businesses turn more cautious on increasing risks of trade tensions, some of the manufacturers are facing pricing pressure from their customers. Some customers have even delayed orders to wait for a recovery in consumers’ sentiment. Apart from worries of the macro economic environment, there are also challenges within the manufacturing sector. Risi

1. SPH Reit  --  11th Oct 20182. Keppel Reit  --  15th Oct 20183. Keppel DC Reit  --  16th Oct 20184. Kep Infra Trust  --  16th Oct 20185. First Reit  --  16th Oct 20186. Kep-KBS US Reit  --  17th Oct 20187. Kep T&T  --  17th Oct 20188. Kep Corp  --  18th Oct 20189. FrasersCom Trust  --  19th Oct 201810. SGX  --  19th Oct 201811. Mapletreelog Trust  --  22nd Oct 201812. MapletreeInd Trust  --  23rd Oct 201813. Frasers Cpt Trust  --  24th Oct 201814. MapletreeCom Trust  --  24th Oct 201815. Suntec Reit  --  24th Oct 201816. M1  --  24th Oct201817. Semb Mar  --  25th Oct 201818. Parkway Life  --  25th Oct 20181