Is Singapore O&G (SOG) going to be another Healthcare IPO darling?

The new kid on the block to join the Booming healthcare fraternity is Singapore-based healthcare firm, Singapore O&G Ltd ("SOG" in short). You can find the IPO Prospectus here.

According to its propectus & factsheet, SOG is a niche player in the healthcare industry as it focuses on the women's healthcare, with middle-level professionals as its main target audience. Thus, their primary focus is skewed towards the following: pregnancy care and delivery, the female reproductive system, and gynaecological and breast cancer.

SOG's total of 8 clinics are situated in five different locations as highlight below:

  • 2 clinics in Parkway East Medical Centre, 
  • 3 clinics in Gleneagles Medical Centre, 
  • 1 clinic in Thomson Medical Centre, 
  • 1 clinic in Mount Elizabeth Novena Specialist Centre 
  • 1 clinic at Cassia Crescent.

In case some people are not sure, Gynaes often work by themselves but are stationed across different clinics for the usage of the equipment and stuff. I searched for one doctor (Dr Beh Suan Tiong) based in Thomson Medical and found out he got his own website -> http://drbeh.com.sg/.

The way i see it, this company is formed by several gynaes with the aim of doing an IPO and expanding beyond their individual medical practice (something like what Q&M Dental has done years back).

Details of IPO

From the picture seen on the left, its a rather tight timeline to subscribe for the public tranche of 2.2 million shares while 
41.4mil will be placement shares.

The shares are offered at 25 cents a piece and will be listed on the Catalist board.
If fully subscribed, the company will raise S$10.9 million through the public offering. The company will use the IPO proceeds for working capital, to enhance investments in healthcare professionals and synergistic businesses, and also to expand its business operations.

Financial Performance & Investment Merits

A picture is worth a thousand words so i shall let the 2 pictures do the talking below. The main gist is that the company's financials are in good shape, with a steady increase in profits. What amaze me is the 35+% net profit margins.. it just shows how profitable delivering a baby is (milking our monies everytime we go back for a 5min checkup!~).

My thoughts

People may think that by distributing 90% of the dividends, the company is becoming more like a cash cow and unlikely to grow in strength from here.

However, by doing a comparison to the time Q&M dental was listed (in yr 2009);
they actually started off the exact same way. Fast forward 6 years and their share price just skyrocketed >100%! over the past year on the back of a string of acquisitions being announced.

Personally, i feel that this IPO will garner lots of interest due to 3 main reasons:
  1. Just look at all the healthcare stocks in Singapore (Talkmed, Q&M Dental, Raffles Medical etc.) and how their share prices have shot up. SOG would do well to ride on the healthcare boom right now.
  2. Healthcare industry is one highly predictable industry, as we can easily visualise on how the private sector is serving the affluent market. In most cases, people want to give the best to their family members and would not scrimp on this.
  3. High net profit margins and huge free cash flow are 2 important metrics for a company to expand steadily without any burden of debt. 
  4. Lastly, a moderate P/E ratio of 12.82 (based on FY14 EPS) and potential 7.3% dividend yield are deeply enticing.
With that, i wish my readers all the best and Huat Ah!


What I Learnt from my World Cup 2014 Bets

Just a couple of weeks back, I was sharing on how to bet on world cup through Singapore pools at the convenience of your house. Maybe it was too convenient for me~

Unfortunately, I got wiped out even before the Semi-finals and Finals (just like the England and Spain!).

Nevertheless, while i was mildly affected, I would also like to share a few Random Thoughts and Lessons I believe would be beneficial to you or amusing perhaps (where you laugh at my losses :/)

#1 There is no such thing as a change in fate/fortune even after things have gone awry for some time. 

It is like what you often hear in casinos: "It will surely be Black (or Red) this time round!" even after the same color has appeared for more than 5 times. The same goes for both soccer betting and forex/stock investing etc.
In relation to stocks, I have this saying to share: What goes up can continue to go up and what goes down may stay there permanently too.

#2 Betting on the exact score is like speculating on a Penny Stock

Checking out the odds for every match can be exciting (and it has proven to be too much excitement). "What is the quickest way to earn big bucks!" -> through high risks of buying an exact score!
And failure is what I achieved. Pain is what people who "invested" in penny stocks like Blumont and Asiasons experienced when they fell almost 80% in 3 days.

Most often than not, even if you got the luck to strike it big once (e.g. earn big money on one penny stock), it will not work its charm all the time. What can go up can come down and the only thing that can differentiate this is by looking at its underlying fundamentals.

#3 Looking at the "Professional Opinions/Reviews" is like listening to the Stock Advisors

Look at Spain and England. Look back at what the "Experts" have said about them, some even say Spain can be in the top few teams. One key thing to take away from this is that sometimes they may be right too, but you have to do your own research as well.
The person promoting a pan will always say that the pan is fantastic and awesome! You are the only person who knows what is best for you~
Same for Investing - No one will take care of your $$ for you if you don't master the basics in stocks investing yourself!


I didn't know once that I can come out with a few theories that link back to investing through just a few simple bets. Even though soccer betting is tempting and the fact that it happens once in 4 years make many people want to place down huge bets to enjoy the Feeling (be part of it); it is advisable to advocate a limit on the bet amount.

Nevertheless, I hope that you have learnt something from my post and can "Like" my facebook page at www.facebook.com/kissinvesting. Lastly, Go forth and Enjoy the next few big matches coming up this week!!!


How to Bet on World Cup 2014

To many people, World Cup is not just watching 22 people kicking the ball around.. (like what the ladies always say)... it's time to fulfill our betting urges!

Nevertheless, just a word of advice, please curb your gambling bets to a sum you can control and only go for legal operator like Singapore Pools.

Singapore Pools
They even set up a World Cup website for people to sign up online and bet through making a phone call easily. Registration is here.

***Update*** I think that registration is a breeze! No need to queue up with many people all the time and just need to pay $1 for each top-up (in my case, I just play for fun with $500... :D)

Furthermore, they have these 4 places to allow people to watch the matches live there as well. I believe when it comes to quarter-finals onwards, people will all be gathering there and basking in the atmosphere together as well!


There is now even an App where you can look at the odds at one shot! & nope, its not created by me...
Just find it interesting to share with you all... Not bad i would say...

Lastly, just a video to keep your hormones under control...

Hope everyone (including me) win lots lots! HUAT AH!!!


World Cup Singapore Time and Places to Watch the matches live!

The World Cup 2014 is finally here! And those who want to immerse themselves in the Soccer Fever can look at the group play draw/schedule, the Singapore showing times and places to watch them!

The Singapore showtimes (All timings shown are in Sg 24hour format)

Group A
13/06 04:00 Sao Paulo Brazil - Croatia
14/06 00:00 Natal Mexico - Cameroon
18/06 03:00 Fortaleza Brazil - Mexico
19/06 06:00 Manaus Cameroon - Croatia
24/06 04:00 Brasilia Cameroon - Brazil
24/06 04:00 Recife Croatia - Mexico

Group B
14/06 03:00 Salvador Spain - Netherlands
14/06 06:00 Cuiaba Chile - Australia
19/06 03:00 Rio De Janeiro Spain - Chile
19/06 00:00 Porto Alegre Australia - Netherlands
24/06 00:00 Curitiba Australia - Spain
24/06 00:00 Sao Paulo Netherlands - Chile

Group C
15/06 00:00 Belo Horizonte Colombia - Greece
15/06 09:00 Recife Côte d'Ivoire - Japan
20/06 00:00 Brasilia Colombia - Côte d'Ivoire
20/06 06:00 Natal Japan - Greece
25/06 04:00 Cuiaba Japan - Colombia
25/06 04:00 Fortaleza Greece - Côte d'Ivoire

Group D
15/06 03:00 Fortaleza Uruguay - Costa Rica
15/06 06:00 Manaus England - Italy
20/06 03:00 Sao Paulo Uruguay - England
21/06 00:00 Recife Italy - Costa Rica
25/06 00:00 Natal Italy - Uruguay
25/06 00:00 Belo Horizonte Costa Rica - England

Group E
16/06 00:00 Brasilia Switzerland - Ecuador
16/06 03:00 Porto Alegre France - Honduras
21/06 03:00 Salvador Switzerland - France
21/06 06:00 Curitiba Honduras - Ecuador
26/06 04:00 Manaus Honduras - Switzerland
26/06 04:00 Rio De Janeiro Ecuador - France

Group F
16/06 06:00 Rio De Janeiro Argentina - Bosnia-Herzegovina
17/06 03:00 Curitiba Iran - Nigeria
22/06 00:00 Belo Horizonte Argentina - Iran
22/06 06:00 Cuiaba Nigeria - Bosnia-Herzegovina
26/06 00:00 Porto Alegre Nigeria - Argentina
26/06 00:00 Salvador Bosnia-Herzegovina - Iran

Group G
17/06 00:00 Salvador Germany - Portugal
17/06 06:00 Natal Ghana - USA
22/06 03:00 Fortaleza Germany - Ghana
23/06 06:00 Manaus USA - Portugal
27/06 00:00 Recife USA - Germany
27/06 00:00 Brasilia Portugal - Ghana

Group H
18/06 00:00 Belo Horizonte Belgium - Algeria
18/06 06:00 Cuiaba Russia - Korea Republic
23/06 00:00 Rio De Janeiro Belgium - Russia
23/06 03:00 Porto Alegre Korea Republic - Algeria
27/06 04:00 Sao Paulo Korea Republic - Belgium
27/06 04:00 Curitiba Algeria - Russia

Figure out that many would be rather restless during work this period of time since all the matches are played during the Zzzzz timing!

Where to watch them w/o broadband at home?!

SAFRA Mount Faber, Tampines and Yishun will be screening all matches at their aircon lobbies while the Toa Payoh branch will air the final. Each venue can house up to 150 persons.

Community Centres
Full Schedules here


Hong Lim Park

Hollandse Bar
The Bank Bar+ Bistro
The Penny Black
Muddy Murphy's


From Millionaire to Pauper in less than 2 Years

If you have read the heart-wrenching news, about how a widow got donations & insurance payouts worth S$1million and then squandered it all in just 1 YEAR; you would be utterly disappointed in her.

"I also don't know how I finished (using) the money," she said.

Furthermore, she has 5 kids to look after and now that she's broke, she has to turn back to working a low wage job again.

While you may feel sad for her and the circumstances she fell into, perhaps a few of you will think of why; Why does this happen?!

"how the h*ck can you spend all that in a year!?!?"

More often than not, people who come by large sums of money, whether be it through inheritance, striking lottery, sportsmen who suddenly get rich etc. are set to lose it back all again. (Look at michael jackson, mike tyson). 

Why? This is because of one simple reason - Lack of Financial IQ. If one is not prepared for a financial windfall, the money disappears quickly, with some even reaching a financial position that is worse than before they received the windfall. Some even go to the extent of being bankrupt.

Qn: So How Should You increase your financial IQ?

Ans: Through 3 words.
1) Read - It's just like studying to pass your basic driving theory test. You need to understand the terminologies and how stuff works before actually working on it. Reading up on personal finance can be easy; you can just borrow the library books for FREE so what's stopping you?

2) Invest - After getting basic financial knowledge, it's important to take action (like learning driving lessons to get more confidence before taking the test). Many people are afraid to invest their hard-earned money because they are scared to lose it all. However, when you leave your money in the savings account, you are potentially losing out even more than those who make mistakes but improve on them along the way.

3) Assets - While i may not agree 100% with Robert Kiyosaki on his many philosophies, I do advocate the idea of accumulating assets. As he has always mentioned in his books, Assets can put money in your pocket and make you richer while Liabilities take $ out and make you poorer.


In my own conjecture, i believe there are still many more out there that lack the necessary financial wisdom to secure their own comfortable retirement next time. I have the dream to help as many as I can and hope that I can reach out to them one way or another; taking on the late Dennis Ng's dreams to build a foundation with the donations of people who benefitted from the knowledge i shared.


Highlights of the Singpost-Alibaba Collaboration

If you haven't already know, Singpost announced a trading halt yesterday in the afternoon, pertaining to Alibaba's investment in it. The news can be found here.

Instead of boring you with the nitty-gritty details; let's take a look at the main highlights:

  1. Alibaba Investment Limited will invest S$312.5 million to purchase 30 million existing ordinary shares held in treasury by SingPost and 190.096 million new ordinary shares and take a 10.35% stake in SingPost upon completion.
  2. Both parties are forming a joint venture (JV) to leverage on each other's strengths and distribution networks/technology discuss.
  3. Currently, SingPost’s e-commerce and related businesses account for about 26% of its total revenue. The CEO has said that he understands that their core domestic business [mailing biz] continues to be under pressure from rapidly declining domestic traditional mail volumes.
    Thus, he is looking at driving growth through Singpost's regional e-commerce logistics and strengthening it to be a regional revenue stream.
  4. Funds from this investment provide SingPost with financial flexibility to significantly scale up its e-commerce logistics business and build new capabilities as they are poised for growth in the region.

My Opinion

It seems that everything is oiled into place - CEO with the right focus on e-commerce, a strong backing from Alibaba and plenty of ka-ching to expand quickly

While Singpost is selling for a relatively high P/E ratio of 23.08 (from bloomberg as at 28 May); if it can turn its e-commerce biz from 26% of its revenue to 50% - it will mark a very strong growth rate like seen from Raffles Medical (growing at P/E 20+ with strong earnings growth over past years) 

Furthermore, it also offers a 3.79% dividend yield, so it can also provide some decent cash-flow for an investor even if it is a long wait for capital gains.

What do you think about this deal for Singpost? Let me know by leaving a comment under my facebook page @ www.facebook.com/kissinvesting. Thanks & HUAT AH!


How to buy thailand undervalued stocks

Unrest in Thailand

The political turmoil in Thailand shows no pause or any sort. In fact, this 12th military coup in the history of the country is making things worse for the country’s economy.

Thailand has been facing unrest for over the past six months and the Thai Baht has come down 2% compared to US dollar after the coup news.

Nevertheless, as investors dig through Thailand's history of coups, they will realise that the stock markets usually rebound sharply once things are stabilized.

Finding Undervalued Thai Stocks

So out of curiosity, I decided to run a stock filter based on the following:

  1. Exchange is SET [Stock exchange of Thailand]
  2. Return On Equity (FY) is >10 (%)
  3. Dividend Yield is 5 - 10 (%)
  4. P/E excluding extraordinary items (Q) is <10
Screenshot of Stocks which match the 4 filters

The rationale behind these screens? I want the stocks to be cheap and performing well in terms of ROE. One filter Warren Buffett tends to look for is "Has the company performed consistently well?" ROE is also referred to as "stockholder's return on investment." It reveals the rate at which shareholders are earning income on their shares.

Lastly, no one will know when the coup will end. Barring any unforeseen circumstances, I wish to look for a good dividend yield to help me tide over the uncertainty ahead. Of course, consistent dividend payouts and free cash flow will be important in judging if the yield can be sustained.

School of Thought

While it may not be comprehensive enough to capture other quality stocks as well, I believe a stock screening is definitely better than nothing. Moreover, there are still numerous stocks which we can zoom into their qualitative aspects.

In my next few posts, I will be touching on those Thailand stocks (if any) that possess one or more qualities such as great growth potential, high profit margins, margin of safety and more!

Like my post to receive more regular updates like this at www.facebook.com/kissinvesting. Thanks & HUAT AH!


Why SMRT share price shoot up/increase 44.6%

SMRT had a huge run-up in its stock price - whopping 44.6% gain in less than 1 month from 23 April where it laid stagnant at S$1.02 for quite some time. This is despite the fact that there are no significant developments in the company!
Nevertheless, many market observers would be lamenting now that they missed such a market darling. Will the up trend continues or will it fade away? Let's take a look at why its stock price soar so high in the first place...
Proposal to sell hard assets to Singapore's govt
After numerous train breakdowns, one of the key concerns is the improving and refurbishing of its railway lines which cost tons lots of money, driving its profits down due to high costs. The potential sale would turn SMRT into an asset-light operator (For more information, you can read the news article herewhere: 
  • it only charges a cost-plus pricing for operating the lines (a d*mn good deal i would say)
  • The high operating costs are now borne by the government, in turn, by the tax-payers. 
  • Don't forget about its lucrative rental and advertising side-lines where the opening of Sports Hub will lead to another set of good results.
Over the long run, if the framework is approved, it does help to validate the surge in share price. However, as of 20 May 2014, SMRT is selling at 36.88 times P/E ratio, 2.68 times of the STI multiple. The earnings will have to increase by 100% or 2 times in order for the P/E ratio to be in a more acceptable range of 18+.

Lastly, such a major decision may take some time to materalize and even more time will be required to turn it into profits. People should be careful of buying in a frenzy and getting stuck at the top for a long time in order for fundamentals to catch up to the euphoria.

3 reasons to bet on Croesus Retail Trust

Gone were the days where Croesus Retail Trust lingered at below its IPO price of S$0.93 around one year ago. It has been on an upswing recently, up almost 8% in a month. This can be due to the positive news where it still has the first right of refusal to 2 additional malls in Japan.

Other than that, there are 3 compelling reasons why Croesus Retail Trust is worth another look:

  1. Strong Financials: Besides reporting Actual results that out-performed forecasts in 3 straight quarters, it is offering a dividend yield of 7.37%.
  2. Right Place, Right Time: Croesus Retail trust properties are all situated in Japan, a country where many asset values have fallen drastically for the past decade. Nevertheless, under Abenomics, the middle income crowd seems to be getting back into shape.
  3. Awards: Winning the title of "Best Small Cap Company" drives in the notion that management team is delivering a good job in steering the company to greater heights.
  4. Growth Plans: Opportunities of Rental Reversions are intact. With accretive acquisitions & rental increases -> it can lead to higher distributions in the future too.
Nevertheless, investors will have to take note of the high gearing ratio (53.5% as of 31 March 2014) which seems to be more than the average REITs in the market. If you are interested about the company, you can read more here.

Hope you like my post! You can receive more regular updates by "Like"-ing my facebook page at www.facebook.com/kissinvesting. Thanks & HUAT AH!


Learn how to Enjoy 1 for 1 movies and starbucks coffee!

If you haven't already noticed, the discounted movie tickets (using Passion card or NTUC card or any credit cards) at Cathay Cineplexes are no more for the time being until June 2014... Leaving us with the other option of regular priced tickets at S$13?!

That's seriously expensive... Inflation has made its way into the movies as well! I remember I grumbled having to pay $7 during my school days.. lol..

Meanwhile, there is a glimmer of hope where you can enjoy 1 for 1 movie tickets (I just used it to watch Spiderman 2 movies at $6.50 each)!

Now you can enjoy all these offers by just downloading the Nets Savers App and using any card that has Nets Flashpay to make payment! Share this with your frens as well!

Hope all of you can Save more $_$!