Overseas Education: Learning to earnings

Overseas Education Limited (OEL) is a pandemic recovery play. I bought shares after a friend told me about their big jump in school fees received in advance (“deferred revenue” for the software bros). OEL operates the Overseas Family School (OFS) in Singapore and educates the children of expatriates working in Singapore aged 2 to 18 … Continue reading Overseas Education: Learning to earnings →

What I’m watching in 2023 for iFAST, Datadog and Fiverr

Happy 2023! Here's what I'm watching for 3 stocks in my portfolio. . (1) iFAST: Can ePension and UK digital bank deliver record earnings? iFAST is aiming for the ePension segment to see a sharp spike in earnings with the new Hong Kong eMPF system starting operations in 2023. iFAST Global Bank (IGB), the company's … Continue reading What I’m watching in 2023 for iFAST, Datadog and Fiverr →

iFAST 3Q22 review

iFAST is becoming stronger and less vulnerable to bear markets. For the third quarter of 2022, net inflow was SGD600 million of net inflow lower year on year but still higher than per-pandemic levels. Diversification into cash management and bonds is paying off! Increased bond turnover on iFAST platforms stood out with bonds offering higher … Continue reading iFAST 3Q22 review →

iFAST 3Q22 preview: What to watch

Ifast will be reporting 3Q22 results on 26 October 2022. The usual AUA, user growth and net inflow numbers will be messy because iFAST India segment will be removed from the numbers. Here’s what I’ll be focusing on : MPF revenue guidance MPF-related revenue and earnings will be the biggest share price driver during the … Continue reading iFAST 3Q22 preview: What to watch →

iFAST: Bad 2Q22 results

iFAST reported a poor set of 2Q22 results because of an unexpected SGD2.69 million net loss due to an impairment for their India business. Here are the good and bad points about 2Q22: Good: Assets under administration (AUA) remained stable in a bear market. AUA fell 5% q/q but rose 0.8% y/y to SGD17.6 billion … Continue reading iFAST: Bad 2Q22 results →

HRnet SIAS interview highlights

Adeline Sim, the Executive Director and Chief Corporate Officer of HRnet was recently interviewed by the Securities Investor Association of Singapore (SIAS). Three things stood out to me: Co-ownership driving growth and cost controlResilient but not recession proofConsistent organic and M&A growth Co-ownership First, HRnet’s co-ownership plans has helped to make the company resilient and … Continue reading HRnet SIAS interview highlights →

Can iFAST survive a bear market?

iFAST’s current share price has been falling probably because of weak equity markets and concerns over higher costs related to their UK bank acquisition. The current share price (SGD5) offers limited downside in my view and iFAST is a stronger and better platform because of its UK bank acquisition. Here are the 3 reasons why … Continue reading Can iFAST survive a bear market? →

Selling Coupa and CAO

I sold Coupa and China Aviation Oil this week to streamline my portfolio and to focus on the highest conviction stocks in my portfolio which includes iFAST and Datadog. Revenue growth at Coupa has been decelerating while losses have been mounting. I think Coupa is a great company with impressive network effects and high switching … Continue reading Selling Coupa and CAO →

Why I sold my Tripadvisor shares

I sold TripAdvisor this week for several reasons: Revenue concentrationGoogleSale/IPO of Experiences business Revenue concentration TripAdvisor is still too dependent on Booking and Expedia. Booking and Expedia combined contributed 34%, 25% and 33% of TripAdvisor’s revenue in 2021, 2020 and 2019. New initiatives over the 2019-21 period such as TripAdvisor Plus and display advertisements appears … Continue reading Why I sold my Tripadvisor shares →

iFAST 4Q21 results: Bigger and better

iFAST reported decent fourth quarter 2021 results with revenue and net profit growing year on year but revenue growth has been decelerating. Net revenue grew 16% year on year to SGD28.2 million while net profit grew 5% year on year to SGD7.2 million. The lower net margin was mainly because of lower government support grant, … Continue reading iFAST 4Q21 results: Bigger and better →