Portfolio review: Q1 2019 results

All five Evergreen stocks (iFAST, Kingsmen, SOG, China Aviation Oil and HRNet) reported poor results for the first quarter of 2019 but I'm sticking with them. These companies have a history of producing great results and I'm giving them 2-3 years more before I consider selling. iFAST Revenue and net profit declined because of "a … Continue reading Portfolio review: Q1 2019 results →

Singapore O&G’s 2018 AGM

SOG is one of the largest positions within my portfolio so I attended the Singapore O&G (SOG) annual shareholder meeting yesterday. Here are the key highlights: SOG market share for baby deliveries increased from 8.0% to 8.9% in 2018. While Dr Heng delivered the most babies within the group, it was the younger O&G doctors … Continue reading Singapore O&G’s 2018 AGM →

SOG: Winning market share for 5th consecutive year

SOG’s cancer and O&G doctors gained recognition and won market share in 2018. SOG is one of my favourite medical stocks on the SGX. Their share of the private birth market grew for the fifth consecutive year. Based on their 2018 annual report, SOG specialists delivered 1,824 babies in 2018 which works out to a … Continue reading SOG: Winning market share for 5th consecutive year →

Five Evergreen shares and one test

HRNet and Singapore O&G are the most profitable companies in my portfolio based on the gross profitability ratio. After reading Michael Mauboussin’s excellent Base Rate Book, I applied the gross profitability screen to my existing portfolio. Gross profitability or Gross Profits divided by Total Assets measures a company’s ability to make money and is used … Continue reading Five Evergreen shares and one test →

SOG 4Q18 results: Look beyond the surface

Singapore O&G (SOG), one of my highest conviction holdings reported bad headline results on Friday night. But after digging in, the good news seem to outweigh the bad. 4Q18 revenue grew 10% year on year, recurring net profit was up 39% year on year, operating cash flow was up and the final dividend grew 1%. … Continue reading SOG 4Q18 results: Look beyond the surface →

SOG continues organic growth in Q3 2018

Singapore O&G (SOG) reported a strong set of Q3 results with the company reporting year on year and quarter on quarter revenue growth. Q3 revenue was up 18% year on year while net profit grew 23% year on year to SGD2.8 million. The improved results is especially impressive since it was driven by organic growth … Continue reading SOG continues organic growth in Q3 2018 →

Dr Lee buys more Singapore O&G shares

Dr Lee, one of the Singapore O&G founders bought SGD65k of shares last week. This is part of a string of insider purchases over the last 12 months which suggests that the company is undervalued. As I previously mentioned, Singapore O&G net profit is likely to see at least 10-12% earnings growth over the next … Continue reading Dr Lee buys more Singapore O&G shares →

Singapore O&G: steady growth

SOG (Singapore Obstetrics and Gynaecology) is one of the cheapest healthcare companies listed on the Singapore stock exchange. Healthy growth across all economic conditions is a key strength for this female healthcare company with its focus on resilient specialist practices such as obstetrics, Gynae-oncology, and paediatrics. SOG was incorporated in 2011, listed on the SGX … Continue reading Singapore O&G: steady growth →