Am I the only SOG shareholder who has given up looking at the share price? Anyway, here's are six key highlights from their 2019 annual report. Let's start with the bad news: Dermatology impairment Increasing competition and weak medical tourism trends in Singapore resulted in a SGD11.3 million goodwill impairment for the year. Excluding the … Continue reading Singapore O&G: 6 things to note in the 2019 annual report
Author: Evergreen Investing
The Evergreen Investing blog aims to prove that a portfolio of income stocks can generate decent annual returns through dividends and capital gains over a 5 year period.
Zero sales test
How long can a company survive with zero revenue? The COVID-19 crisis has forced governments to restrict movement so restaurants, hotels and travel companies are faced with a grim scenario where revenue drops to zero. The cyclical companies in my portfolio such as China Aviation Oil, TripAdvisor and HRNet are vulnerable but I subjected all … Continue reading Zero sales test
Visa: War on cash goes on
Visa is one of the larger positions in my portfolio and I bought more shares during the last two weeks because the company's valuation is close to a four year low. Visa is the world's largest payment network and is present in more than 200 countries. Visa should compound at 10% every year because of … Continue reading Visa: War on cash goes on
Selling Kingsmen
I have sold half my Kingsmen shares and may eventually sell the other half so I won't be including Kingsmen in my scorecard for consistency. Kingsmen reported fourth quarter 2019 results this week and the results suggest that my thesis was wrong for a few reasons. First, NERF did not drive revenue growth. I was … Continue reading Selling Kingsmen
Mastercard: Paying up for growth
Mastercard is one of the largest positions in my portfolio so I'm using this market correction to add the stock to my scorecard. This write-up will be shorter than usual because I think the investment case for Mastercard is simple. MasterCard is the world's second largest payment network in the world (Visa is the world's … Continue reading Mastercard: Paying up for growth
Singapore O&G: Three things to know about the new CEO
Singapore O&G (SOG) has a new CEO! SOG has appointed Eric Choo, the ex-CFO with effect from 3 February 2020. Eric was the CFO of SOG from 2014-18 and was involved in the company's 2015 IPO before leaving to work as CFO of Eagle Eye Centre. Here are a few thoughts: It's always a good … Continue reading Singapore O&G: Three things to know about the new CEO
2019 year in review and most popular posts
This year was a tough year for my portfolio with 4 out of 6 stocks in the portfolio posting negative returns since I wrote about them. Date purchased Start Now Dividend return (%) Capital return (%) Total return iFAST 22-Apr-18 0.92 1.03 7% 12% 19% Kingsmen 29-Apr-18 0.59 0.45 8% -24% -15% SOG 3-Jun-18 … Continue reading 2019 year in review and most popular posts
Portfolio review: Q3 2019 review
The five SGX companies in my portfolio reported mixed Q3 2019 results and their share prices have been depressed.These five companies should deliver growth in the future so I'm happy to hold these companies. iFAST and SOG has been the most consistent performers in terms of revenue and net profit growth and it's a painful … Continue reading Portfolio review: Q3 2019 review
TripAdvisor: Huge travel platform trading at 9% free cash flow yield
I normally don't write about US companies but TripAdvisor (TRIP) was too cheap to resist. TripAdvisor recently paid its first ever dividend, (USD3.50 special dividend) so there's a chance the company could pay dividends in the future. TripAdvisor is currently one of the bigger positions in my portfolio. TripAdvisor is a travel research platform which allows … Continue reading TripAdvisor: Huge travel platform trading at 9% free cash flow yield
Why 2020 should be a good year for iFAST
For the first time since its listing, iFAST provided guidance for operating expenses during the third quarter of 2019. 3Q19 net revenue grew 9% but net profit fell 5% because of increased spending on the company's IT capabilities. More importantly, iFAST is guiding for slower expense growth in 2020. Overall operating expenses are expected to grow … Continue reading Why 2020 should be a good year for iFAST
