Current Price on 28th Dec 2018 = S$0.335Yield = 8.77%  Price-to-book Ratio = 0.434Assets per unit = $2.138Debt per unit = $1.366 (including current liabilities and non-controlling interest)Gearing = 63.9%While reading and refamiliarising myself with HPH Trust, I realize that there is a substantial non-controlling interest appearing as equity in the balance sheet which unitholders don't own. Thus, it affected the price-to-book ratio which I have always been using to calculate so now I am including it as liabilities for ease of comparison for people like us. Here are the statistics.With 8.77%, it is yielding high although I think it is not high enough considering that it is a port trust rather than a real estate investment trust. Its price-to-book ratio is rerated to be 0.434 which mean

It has been a while since I write a blog here and I must admit that I am too busy with my own things to continue to analyze and keep up with my investments. Thus, I was very late in realizing that the market and therefore my portfolio has fallen by quite a lot which emotionally I was very sad.Moreover, I was hard hit by the sudden drop of Asian Pay Television Trust which has hit me really hard. Together with the broad-based correction of the market, the hard work that I have painstakingly built up, dividends and the profits were all returned back to the market. To think back, there were tell tale signs in the beginning but I have foolishly ignored them. Anyway, I have sold them, believing that it will not recover back to the previous levels based on current metrics.One thing that I ha

Time really flies these days when we are in our mid 30s, pegged by a combination of busy work and heavy loads of watching our children grow as each year past by.I wanted to wrap things up for the year given that I will be taking a holiday trip to Bali with my family for the next few days until Christmas, and wanted to do a reflection of my equity performance this year before I then wrap things up for 2018 on an overall scale. I received some good feedbacks last year on how I presented with my performance review, especially clearly positioning my winners and losers so I thought I’d continued with the same format for this year. Please bear with me as this will be a pretty long post.Overall Market ThoughtsThis was a tough and rough year for investors because this was supposed to b

In the last post, we talked about enterprise value and how you could use it to avoid making potentially loss making investments in dividend plays which were unsustainable. You can check it out here: What is enterprise value and how can it help you avoid losing money? [Case Study: Asian Pay TV] Another company which debuted to great fanfare but has languished over the last few years has been Hutchinson Port Trust. Digging deeper A typical characteristic of companies with high debt load are that they are extremely capital intensive in nature and require continual investment. This makes the dividend vulnerable in the case of Industry downturn Increase in CAPEX expenditures Increase in interest rates If management decides to pay down existing debt CAPEX expenditures (also known as capital ex

Here are some of the most popular articles that have appeared on The Motley Fool Singapore’s website for the month. Why Did First Real Estate Investment Trust’s Unit Price Plunge Yesterday? Units in First Real Estate Investment Trust (SGX: AW9U) have been ailing in the past week. As a quick background, First REIT owns 20 properties — mostly healthcare-related —in Indonesia, Singapore and South Korea. On 19 November, the REIT’s unit price tumbled more than 7%. What could be the reason behind the sudden fall? Jeremy Chia finds out more in his article. (Post-publication note: As an update to the market, on 21 November, the REIT’s manager announced that it is unaware of “any material information which has not previously been announced or otherwise made known in the public domain

Fear is rampant in the stock market right now. Investors have taken it on the chin but it is not the time to give up. Singapore’s Straits Times Index (SGX: ^STI) peaked in early May this year and proceeded to fall past the dreaded 10% mark in less than two months to enter correction territory. Today, more than six months after this year’s high, the STI is still down by around 16%. As the downturn drags on, some investors are beginning to feel the strain. In some ways, fear has given way to exhaustion. After all, it’s been a tough year for any investor to eke out any sort of gain. Consider these statistics: Less than a quarter of the 30 companies that make up the Straits Times Index are showing positive returns for 2018. The average year-to-date return of a blue-chip stock is negati

Will gold price ever return to its crazy high form? The recent meltdown of Asian Pay TV Trust (APTT) share price must have depressed many investors. Indeed, the Straits Times Index (STI), as a whole, had been performing poorly in 2018. Wealth builders who had ignored the wisdom of diversifying their portfolio in different assets are paying a heavy price now. Should stock investors run for their lives and shift their attention to gold instead? Recent stock market corrections do not represent a full-blown crisis. But it does not reflect a signal for investors to enter the stock market either. Wealth builders should heed the warning and start insulating their portfolios against the risks unfolding in the market. You certainly don’t want to be caught with your pants down when there is a viol

To say that this has been a tough year for investment is an understatement.Investing, as a general form of growing your wealth is so damn tough that for one not to be losing money is sometimes already seen as a form of success.I can totally relate why many people avoided them like a plague because contrary to many popular beliefs, it can jolly well diminish your money.Imagine yourself being invested in Asian Pay TV Trust at the start of the year, having intrigued by its stuttering share price and a high dividend payout.You might have thought the dividends they pay out is unsustainable hence you made a decision to project them conservatively at the fcf you think they can give out.When APTT announces their recent results, the management is even more conservative than you are and slashed thei

Call it sheer madness or whatsoever. Within the span of two days, Asian Pay Television Trust (APTT) share price plunged by nearly 50%. Investors with weaker hearts might have suffered serious heart attacks watching in horror at the meltdown of Asian Pay Television (APTT) share price. After all, you don’t often get to see value of business trusts being eroded by so much in a matter of days. Well, that’s investing in SGX stocks for you. In my previous article, Asian Pay Television Trust dances with the wolves, I wrote that investors should “hope for the best but expect the worst”. I was also bearish on this counter as I was not convinced that the management had the ability to turn around the trust. My view was that the unit price would come under further pressure. Recent Asian Pay Te

I am writing this dividend update quarterly in an attempt to compile my quarterly dividend performance for the year. With a rising cost of living under the belt, in particular with the two kids in tow and hence require some bits of maintenance spend to keep hold, it can be particularly stressful to keep up with the expenses or cash outflow. Many times, we are dependent on our sole income which comes from our source of salary which we received monthly. While these may be the norms in the beginning, it is not healthy to be overly dependent on it over long periods of time as it may anytime snap behind your back. This is the reason why all of us need to think ways to grow our side income while we can so that we may unravel opportunities that can supplement our monthly income fro

APTT's unit price plunged by about 50% today, closing at 16 cents a unit. Mr. Market was probably shocked by APTT's massive reduction in DPU to 1.2 cents a year. I was surprised by the decision too. However, I also applaud APTT for having the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Asian Pay Television TrustSGX: S7OU0.16 SGD −0.16 (49.21%)With this type of drop of 49% in one day; how does margin calls work for this scenario?Forced selling?

In a recent report by the Singapore Exchange, the 10 best-performing billionaire shares, which have market capitalisations of more than S$1 billion, were revealed. The 10 companies have a focus on providing goods and services to consumers. They have averaged a total return (which includes capital gains and dividends) of 29% for 2018 year-to-date. Of those 10 stocks, I picked the top three companies with the highest dividend yields, which have more than the average yield of 2.5% (data as of 9 November 2018). Company #1 The first company on the list with a dividend yield of 5.4% is M1 Ltd (SGX: B2F), one of the three major telcos in Singapore. Year-to-date, the company’s total return was 26.7%. Part of the share price growth was driven by news that Keppel Corporation Limited (SGX: BN4) and

Asian Pay Television Trust (SGX: S7OU) (“APTT”) reported its third-quarter 2018 (“3Q 2018”) earnings this morning. In addition to a downbeat set of results, APTT also stunned the market by announcing a sharp 81.5% cut in distribution per unit, from S$0.01625 per quarter to just S$0.003 per quarter. APTT is a business trust which seeks to pay out 100% of its cash flow as distributions to its unitholders. The company’s investment mandate is to acquire controlling interests and to own, operate and maintain mature, cash generative pay-TV and broadband businesses in Taiwan, Hong Kong, Japan and Singapore. Today, APTT’s sole investment is in Taiwan Broadband Communications Group, which is a leading cable operator in Taiwan. Here are key highlights from the tr

I always had one eye on Asian Pay Television Trust (APTT). So did some of my friends. It is the ultimate Financial Independence Porn Stock. Why is this so? To find out how much you need for financial security, or financial independence or retirement, you can read my article here to determine your number. From the article we get the following formula: Wealth Required for FS/FI/RET =  Annual Expense / Rate of Return of Your Wealth Machine(s) to Generate Cash Flows for FS/FI/RET APTT pays a quarterly dividend and the last guided dividend was $0.01625. Annualized the dividend is $0.065. The price chart above shows the current share price to be at $0.315. Dividing the dividend per share by the share price we arrived at a dividend yield of 20.6%. That is a whopping dividend yield! Now acco

In Singapore, dividend investing has been gaining popularity among wealth builders seeking yield for their investment capital. However, dividend investing may not be so straightforward because there are many factors to consider when investing in stocks. This means that there is a need to delve deeper into a company business fundamentals instead of just using a screener to come out with a list of top dividend stocks to invest in. In my previous articles, I have shared my insights on the top three dividend stocks in Singapore: Asian Pay TV Trust (dividend yield: 19.4% – 26%), Lippo Malls Indonesia Retail Trust (dividend yield: 9.9% – 12.9%) and HPH Trust (9.8% – 12.8%). In those articles, I have highlighted that although these counters offer mind-boggling high yields, there are ris

In August 2018, I also received questions about APTT as its unit price plunged. In one way or another, I was asked whether I was buying APTT again like I did when its unit price plunged in the past. Regular readers might remember that I said... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]