Portfolio news this week (ending 6 June)

Here’s the top news this week affecting my positions in Singapore O&G, iFAST and TripAdvisor.

All Singapore O&G (SOG) services are available again: SOG clinics including their dermatology clinics can offer their full suite of services with Singapore’s circuit breaker ending on 2 June. See the SOG poster below.

Post circuit breaker

However, competing dermatology clinics will be able to offer these services too.The dermatology segment is the weakest and most exposed to competition among the four segments but hopefully referrals from other SOG clinics can help the dermatology segment to break-even this year. My wife visited a SOG clinic recently and noticed that the nurses are now wearing SOG uniforms which is great for creating brand equity and reducing reliance on the individual doctors. 

Singapore O&G in the media: Dr Christina Ong, a SOG paediatrician was featured on CNA along with another Raffles Medical doctor. Great publicity for the company. Link

iFAST and overseas deposits: From this CNA article “Deposits from non-residents into Singapore’s banks jumped 44 per cent to a record S$62.14 billion (US$44.37 billion) in April from a year earlier, marking the fourth straight monthly rise”. The data doesn’t show the origin of these inflows but it could be related to uncertainty in Hong Kong . iFAST has a strong presence in Hong Kong and Singapore so they may benefit from some of these capital inflows. Link

TripAdvisor and US jobs report in May: The US economy unexpectedly added jobs in May with leisure and hospitality jobs driving most of the growth. TripAdvisor’s share price jumped 15% on Friday probably because of this news. With hotels and restaurants hiring again, they may start using TripAdvisor’s services again. Link

2 thoughts on “Portfolio news this week (ending 6 June)

  1. Hello there,

    With regards to Singapore O&G, did you have any opinions on the share buybacks on the 9th and 10th? Seems to be about 200k shares. Dr Beh seems to have issued himself options on the 8th prior to the beginning of the share buyback.

    I’ve been following this company since your blog introduced it so interested to get your thoughts!

    Like

    1. The share buybacks are meant to fund the company’s share performance plan and it’s not just for Dr Beh. SOG has plenty of cash and the share price is still quite depressed so it’s nice to see them using the cash to do something.

      Liked by 1 person

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