Saturday, December 31, 2016

SGX - A Good Snapshot

The below was taken from the ST on 31/12/2016. I find it a good summary.

Friday, December 30, 2016

My Portfolio 2016 (Closing)

Edited in the prices as at Dec 30 (after trading). Starhub, SPH, SIA, HPH Trust & AsiaPay have gone down quite a bit vis-a-vis last year closing. The rest have seen gains or more or less at par (+/-). throughout the year, I made tactical purchases of GLP at $1.6 (let go at $1.87), Silverlake at $0.5 (let go at $0.56),Ezion at $0.30 (let go at $0.36), ChinaMerchant at $0.76 (let go at $1.02). All in all, my realised trading gains this year is around $12K which is good plus dividends (which is around 5% of portfolio).Overall, 2016 is a resonable year for me although the STI index remain largely the same y-o-y.

DBS  ($17.34)
UOB ($20.40)
OCBC ($8.92)
SPH   ($3.53)
SingTel ($3.65)
StarHub ($2.81)
CityDev ($8.28)
SP Ausnet ($1.64)
Keppel Infra Trust ($0.475)
Olam ($1.97)
Wilmar ($3.59)
SIA ($9.67)
Keppelcorp ($5.79)
SembCorp ($2.85)
CroesusRetail ($0.835)
CDL Trust ($1.34)
AsiaPay TV Trust ($0.375)
Capital China Trust ($1.37)
Ascendas India Trust ($1.015)
Lippo Malls Trust ($0.37)
SuntecReit ($1.65)
OUE Comm Trust ($0.695)
StarHillGlobal Reit ($0.74)
MapleLogistics Trust ($1.02)
M1 ($1.96)
SATs ($4.85)
First Reit ($1.265)
KReit ($1.02))
Accordia Golf Trust ($0.63)
SoilBuild Trust ($0.64)
HPH Trust ($0.63)
OCC 5.1%NCPS 100 ($104.0)
DBS$800M4.7%NCPS ($105.56)

Tuesday, December 20, 2016

The Power Of Demographics

As Britain grapples with a depreciating pound sterling in a post-Brexit era and India continues to grow rapidly since its economic liberalization in 1991, the two have swapped spots in the rankings of world economies. 

For the first time in 150 years, India has surpassed its erstwhile colonial master in terms of GDP, which is now the fifth largest in the world after the U.S., China, Japan and Germany.

With three countries in the top 5 being in Asia, the trend is clear that it make sense to be optimistic about the prospect of Asia.Additionally, there are a couple of medium size economies with more than 100m population growing at a faster clip compare to the average eg Vietnam, Indonesia, Philippines etc.

Wednesday, December 14, 2016

MyRepublic - Game Over?

Below is MyRepublic Statement's after the results of the bid. Myrepublic bid at $102.5m to return empty handed.

"It was after serious consideration that we decided that bidding $105M and beyond for the spectrum did not support our vision and business case for mobility in Singapore. "

Now considering TPG telecom winning bid at $105m, the idea that a mere excess of $2.5m can totally derail Myrepublic mobile ambition in singapore does not make any sense. The remarks are merely brave words to gloss over a strategic loss. Myrepublic must have through its channels gotten the idea that $100m is going to be TPG bid, so they went for $102.5m.In the end, they got outfox by TPG who have much deeper pocket to play this game.

The prospect of MyRepublic after losing this bid is dim as they will find it very very difficult to remain a niche broadband player with 4 telcos in a small and concentrated market.M1 is closing on them on pricing and Starhub is not that far.

As for TPG  telcom, the easy part of winning the bid is over. Now, the difficult and arduous journey start. It remain to be seen that they can overcome the odds having to start virtually from scratch. Their only advantage is support from a financially strong remote parent in Australia which is experiencing growth pains in their home market.

TPG Telcom Win Bid For 4th telco

TPG Telecom has emerged as Singapore's fourth telco, with a winning bid of S$105 million in the New Entrant Spectrum Auction (NESA) which concluded on Tuesday.

TPG will be provisionally allocated 60 MHz of spectrum made available in the NESA - comprising 20 MHz in the 900 MHz spectrum band and 40 MHz in the 2.3 GHz spectrum band - to provide International Mobile Telecommunications (IMT) and IMT-Advanced services (eg, 4G services).
The new spectrum rights are expected to commence on April 1, 2017 at the earliest, the Info-communications Media Development Authority (IMDA) announced on Tuesday.

TPG will be required to utilise the allocated spectrum to provide nationwide street level coverage for 4G within 18 months from the start of the new spectrum rights; road tunnels and in-building service coverage within 30 months from the start of the new spectrum rights; and coverage for MRT underground stations and lines within 54 months from the start of the new spectrum rights.