Still not growing enough of dividends.
Think I have to reweigh my existing portfolio.
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
01 Apr $23.01
02 Apr $34.97
21 Apr $182.00
30 Apr $105.84
Total Dividends for 2014: $634.09
Average per Month: $52.84
Wednesday 30 April 2014
Tuesday 29 April 2014
Story Of Shorts II
Continuing from where I previously left off, the slump in tech social media stocks continues!
Have taken profit on Google and really kicking myself for not shorting LinkedIn as well!
Bloomberg just ran a good article of all this.
As for Manchester United stock, the sacking of Moyes has been a revelation as the outlook for the club has become so much more optimistic now. Still the lack of European games (assuming we will likely miss out on the Europa League too) will come back to haunt the club's coffers for sure.
Huat ah!!!
Have taken profit on Google and really kicking myself for not shorting LinkedIn as well!
Bloomberg just ran a good article of all this.
As for Manchester United stock, the sacking of Moyes has been a revelation as the outlook for the club has become so much more optimistic now. Still the lack of European games (assuming we will likely miss out on the Europa League too) will come back to haunt the club's coffers for sure.
Huat ah!!!
John Hancock Premium Dividend Fund (PDT)
This is one of my stocks in my Passive Income portfolio.
Bought this stock at $11.70 some 4 months ago.
Sold it today at $13.27.
My rationale is that taking the $1.57 profit now is more worthwhile than getting approximately $0.05 in monthly dividends (after tax). Afterall, I'd have to wait 2 years to earn that gain in dividends.
My risk is that of the potential opportunity cost of PDT continuing to gain in price and sees dividend growth beyond the two years. So this is not long term thinking on my part. But it is something I'm willing to risk given my uncertainty of the global economy.
Now I'm going to shift my funds to a better yielding stock.
Will consider entering again if the price comes down.
Bought this stock at $11.70 some 4 months ago.
Sold it today at $13.27.
My rationale is that taking the $1.57 profit now is more worthwhile than getting approximately $0.05 in monthly dividends (after tax). Afterall, I'd have to wait 2 years to earn that gain in dividends.
My risk is that of the potential opportunity cost of PDT continuing to gain in price and sees dividend growth beyond the two years. So this is not long term thinking on my part. But it is something I'm willing to risk given my uncertainty of the global economy.
Now I'm going to shift my funds to a better yielding stock.
Will consider entering again if the price comes down.
Saturday 26 April 2014
All Quiet On The Trading Front
Something is brewing. The trading world is all too quiet.
Securities trading volumes are at a super low.
FX trading volumes are at a super low.
The Dow is chugging along nicely upwards gingerly on thin volume.
The EURUSD has hovered around 1.38 for far too long.
Something is definitely brewing and it looks like traders are just waiting for a trigger to send everything downwards.
So far the main possibility is the Ukrainian crisis, a sort of soon-to-be proxy war between Russia versus. the US and Europe.
Yet, other key issues could lead to further dampening of trade volumes.
The World Cup 2014 in Brazil will send trading volumes receding as it has done so traditionally.
The US and European clampdowns on high-frequency trading and collusion between investment banks' traders in the FX markets are taking its toll.
At home Singapore is seeing super low trading volume on the SGX. Plus the MAS is planning to introduce deleveraging for FX.
It all looks rather bleak.
We really need some volatility in the markets soon.
Where will it come from?
Securities trading volumes are at a super low.
FX trading volumes are at a super low.
The Dow is chugging along nicely upwards gingerly on thin volume.
The EURUSD has hovered around 1.38 for far too long.
Something is definitely brewing and it looks like traders are just waiting for a trigger to send everything downwards.
So far the main possibility is the Ukrainian crisis, a sort of soon-to-be proxy war between Russia versus. the US and Europe.
Yet, other key issues could lead to further dampening of trade volumes.
The World Cup 2014 in Brazil will send trading volumes receding as it has done so traditionally.
The US and European clampdowns on high-frequency trading and collusion between investment banks' traders in the FX markets are taking its toll.
At home Singapore is seeing super low trading volume on the SGX. Plus the MAS is planning to introduce deleveraging for FX.
It all looks rather bleak.
We really need some volatility in the markets soon.
Where will it come from?
Monday 21 April 2014
Charisma Energy Services AGM 2014
This was my first ever AGM of a Singapore-listed company. It was quite an eye opener. I did leave the AGM feeling positive and bullish about the prospects of Charisma Energy. Here are my takeaways.
1) Mr Chew Thiam Keng Is Very Affable
You would think that the Chairman of the board with his kind of credentials and owning what he owns (of which the $2B Ezion Holdings), he'd have a certain air about him. Total bollocks. The man was so humble, polite and nice, it was really refreshing to see. Not only very likeable, he went about the AGM in a professional and concise manner. I have no doubt that Mr Chew will lead Charisma to far greater heights as he did for Ezion after today's meeting. The only downside was that he decline to take a photo with me (saying he does not take photographs).
2) Expect More Contract Announcements
Maybe that is how companies use their AGMs to pump up their share price. It was suggested/implied (but cannot be confirmed, due to SGX requirements), that Charisma had an extremely strong pipeline. This bodes well for the future share price. I actually asked the question about the direction and prospect of Charisma in the bigger scheme of things, given that it is but one of Ezion's three current 'daughters' (JK Tech and Ausgroup). Mr Chew said the question was hard to respond to as it was akin to asking a man who had three girlfriends, which one was the best. Not sure what to infer from that haha. There was a chuckle drawn from that response. Still, he did say that he was committed to turning Charisma into another Ezion.
3) Share Consolidation
My next question, was whether a share consolidation was on the cards for Charisma. Mr Chew said there wasn't any at the moment. I will take his words at face value for now. But a fellow shareholder actually came up to speak to me later on that some time ago a similar question was raised at the SingHaiYi (another SGX-listed stock) AGM and the response was also a no, but just awhile later they announced a consolidation. Hope this doesn't happen. It would definitely change my impression of Mr Chew and the company if it does.
4) Enlarged Share Float
Another shareholder asked about the enlarged share float which I also mentioned of previously. It is noted that there are still approximately 3+B stock options waiting to be converted at the super low strike price of 0.025. This does not bode well for the share price as there will be a huge dilution. Current share float is almost 10B, so if everything were to be converted, current price would be sliced to maybe almost 4c per share. Not good.
5) The Mothership & Profitability
As expected, there was talk of the cash injection from the Hong Leong Group. With such a strong backer, confidence and opportunities have expanded exponentially for Ezion Holdings and it's 'daughters'. This bodes well in its expansion which I hope will be fast and successful. And hopefully Charisma Energy can truly turn out to be a star value play. One star event to look out for will be its first quarterly profits in Q2 where it will book a $7mil profit. This is a very good development as it puts Charisma Energy firmly in the black.
From right to left:
Yap Thian Huat
Tan Seh Ko
Lim Ka Bee
Chew Thiam Keng
Woo Peng Kong
Cheng Yee Seng
Lim Chen Yang
With that, my AGM experience concluded. As expected, even at such a small AGM (30-40pax), the buffet food ran out in the blink of an eye.
Huat ah!!!
2014 Dividend Accumulator VII
Wow, it's been quite awhile since I got any of these little babies...
Still not enough IMHO!
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
01 Apr $23.01
02 Apr $34.97
21 Apr $182.00
Total Dividends for 2014: $528.25
Average per Month: $44.02
Still not enough IMHO!
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
01 Apr $23.01
02 Apr $34.97
21 Apr $182.00
Total Dividends for 2014: $528.25
Average per Month: $44.02
Wednesday 16 April 2014
Charisma Energy Services Enlarged Share Float
Recently my holdings in this penny stock in Singapore has jumped quite significantly, so I am covering it abit more than usual. Yesterday the price nosedived from its support of 5.8c to today’s current 4.9/5.0.
While this seems to be pretty bad news, the actual reason was due to a 11% increase in share float. From previously approximately 8.6 billion shares floating in the market, the float has ballooned to 9.6 billion,
Based on initial calculations, this share float increment should reduce the price from ((5.8/111)*100) = 5.2c. however, that doesn't seem to have stopped the stock from plummeting to deeper depths.
As such, I have increased my holdings as I am quite confident that the stock is a good value play.
Here are several points to note:
1) Red In FY2013
Booking a SGD421,000 loss in the full year is never a good thing for any listed company. However, this compares with a SGD1,043,000 loss in FY2012. The key here is that Charisma (previously named YHM) was only recently taken over by Ezion Holdings, so the turnaround will take time.
2) Contract Wins
Since the takeover from Ezion, Charisma, YHM and its subsidiaries have won four contracts till date, as far as I can count. The total value of these contract wins amount to USD407mil in total although they range from a period of 3 years up to 20 years. There is a steady flow of contracts coming in on a timely basis and that is what is going to matter in the growth of Charisma Energy.
3) Profit Almost Secured This Year
One of its subsidiaries recently announced a transaction that is expected to be completed in 2Q2014 (which is this quarter!). Upon completion, the transaction is expected to contribute a net profit of approximately USD7mil to the company. This translates to 0.07c in per share earnings, which is a strong positive.
4) Contract Wins Vs Market Cap
I’m not sure if I’m calculating this right, since the some of the contract wins are over an extended period of time (do I need to do this on a per year basis instead?). At today’s price of 5c, the market capitalization of Charisma Energy is now at SGD500mil. Contract wins at USD407mil is worth approximately SGD509mil (assuming USDSGD = 1.25). This means that the forward Price-To-Book Ratio is 0.98. This would mean that the stock is undervalued…in my books at least :P Of course I may be very wrong in assuming that Contract wins = Book value.
5) One Fat Mother
With Ezion holdings on an almost obscene tear recently, buying or investing in so many potential partners, there is a lot of confidence in the stock being able to snag a share of the spoils as its expansion extrapolates. At this rate, Ezion Holdings may turn into a blue chip in a few more years.
With this analysis, I am hoping that I am right in spotting the value in this company and what could potentially be unlocked. This coming Monday is the Charisma Energy AGM and hopefully I will be able to find more reason to keep holding this stock.
While this seems to be pretty bad news, the actual reason was due to a 11% increase in share float. From previously approximately 8.6 billion shares floating in the market, the float has ballooned to 9.6 billion,
Based on initial calculations, this share float increment should reduce the price from ((5.8/111)*100) = 5.2c. however, that doesn't seem to have stopped the stock from plummeting to deeper depths.
As such, I have increased my holdings as I am quite confident that the stock is a good value play.
Here are several points to note:
1) Red In FY2013
Booking a SGD421,000 loss in the full year is never a good thing for any listed company. However, this compares with a SGD1,043,000 loss in FY2012. The key here is that Charisma (previously named YHM) was only recently taken over by Ezion Holdings, so the turnaround will take time.
2) Contract Wins
Since the takeover from Ezion, Charisma, YHM and its subsidiaries have won four contracts till date, as far as I can count. The total value of these contract wins amount to USD407mil in total although they range from a period of 3 years up to 20 years. There is a steady flow of contracts coming in on a timely basis and that is what is going to matter in the growth of Charisma Energy.
3) Profit Almost Secured This Year
One of its subsidiaries recently announced a transaction that is expected to be completed in 2Q2014 (which is this quarter!). Upon completion, the transaction is expected to contribute a net profit of approximately USD7mil to the company. This translates to 0.07c in per share earnings, which is a strong positive.
4) Contract Wins Vs Market Cap
I’m not sure if I’m calculating this right, since the some of the contract wins are over an extended period of time (do I need to do this on a per year basis instead?). At today’s price of 5c, the market capitalization of Charisma Energy is now at SGD500mil. Contract wins at USD407mil is worth approximately SGD509mil (assuming USDSGD = 1.25). This means that the forward Price-To-Book Ratio is 0.98. This would mean that the stock is undervalued…in my books at least :P Of course I may be very wrong in assuming that Contract wins = Book value.
5) One Fat Mother
With Ezion holdings on an almost obscene tear recently, buying or investing in so many potential partners, there is a lot of confidence in the stock being able to snag a share of the spoils as its expansion extrapolates. At this rate, Ezion Holdings may turn into a blue chip in a few more years.
With this analysis, I am hoping that I am right in spotting the value in this company and what could potentially be unlocked. This coming Monday is the Charisma Energy AGM and hopefully I will be able to find more reason to keep holding this stock.
Friday 11 April 2014
Of Ezion Holdings And Charisma Energy
Ezion recently announced another collaboration with another listed company, Ausgroup.
I’m not so sure if this is a good sign, even if several brokers have already reported that there is good synergy in the deal.
What seems to be good about the deal is that there seems to be strong mutual benefits between both companies since Ausgroup fabricates modules and structues for the oil and gas and resources sector, while Ezion provides offshore logistic support services for oil and gas projects in Australia.
Problem that I find unsettling is that after its take over of YHM (now Charisma Energy), it has tried to collaborate with Ocean Sky, which failed quite miserably, followed by another strategic stake in JK Tech Holdings, and now, Ausgroup. Question is why is there a need to take on so many strategic stakes so rapidly, before the various collaborations have played out?
With last October’s spectacular Blumont, Asiasons, LionGold saga and the intricate web that is slowly revealing itself, I do have my worries. Moreover, online chatter also describes this ‘strategic stake spree’ as similar to that of Raffles Education, another listed company, which made use of its ‘track record’ and ‘market darling’ status to get into many ‘strategic’ investments and collaborations, which ultimately proved to be its undoing after it found itself making bad investments.
Hopefully I am wrong.
I’m not so sure if this is a good sign, even if several brokers have already reported that there is good synergy in the deal.
What seems to be good about the deal is that there seems to be strong mutual benefits between both companies since Ausgroup fabricates modules and structues for the oil and gas and resources sector, while Ezion provides offshore logistic support services for oil and gas projects in Australia.
Problem that I find unsettling is that after its take over of YHM (now Charisma Energy), it has tried to collaborate with Ocean Sky, which failed quite miserably, followed by another strategic stake in JK Tech Holdings, and now, Ausgroup. Question is why is there a need to take on so many strategic stakes so rapidly, before the various collaborations have played out?
With last October’s spectacular Blumont, Asiasons, LionGold saga and the intricate web that is slowly revealing itself, I do have my worries. Moreover, online chatter also describes this ‘strategic stake spree’ as similar to that of Raffles Education, another listed company, which made use of its ‘track record’ and ‘market darling’ status to get into many ‘strategic’ investments and collaborations, which ultimately proved to be its undoing after it found itself making bad investments.
Hopefully I am wrong.
That Blumont, Asiasons, LionGold Saga
The web of deceit is just getting bigger and bigger.
Someone mentioned that it is turning out into a season of Game of Thrones!
Read the most recent write-up here by Singapore Law Watch. Very good overview of all those involved so far.
To think that there were so many broker BUY calls for these stocks back before their spectacular crash in early October last year. Most brokers have been smart enough to remove all those reccos from their directories. This was the only one I could find online.
Someone mentioned that it is turning out into a season of Game of Thrones!
Read the most recent write-up here by Singapore Law Watch. Very good overview of all those involved so far.
To think that there were so many broker BUY calls for these stocks back before their spectacular crash in early October last year. Most brokers have been smart enough to remove all those reccos from their directories. This was the only one I could find online.
Thursday 10 April 2014
Short NZDUSD
One of the few times I'm punting in FX again.
Short NZDUSD @ market, Stop @ 0.8750, TP @ 0.865.
Huat ah!
Short NZDUSD @ market, Stop @ 0.8750, TP @ 0.865.
Huat ah!
Thursday 3 April 2014
Long Monthly EURUSD Put Option
For only $12, I get to speculate on more downside for EURUSD.
My strike: EURUSD @ 1.3300
In fact, I bought into a One-Touch Option, meaning that EURUSD just needs to touch 1.3300, instead of ending below it.
HUAT AH!
My strike: EURUSD @ 1.3300
In fact, I bought into a One-Touch Option, meaning that EURUSD just needs to touch 1.3300, instead of ending below it.
HUAT AH!
Wednesday 2 April 2014
2014 Dividend Accumulator VI
Wah, more little bits and pieces! Enough to cover lunch for a couple of days...
Still need something big of a boost to get into the hundreds soon...
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
01 Apr $23.01
02 Apr $34.97
Total Dividends for 2014: $346.25
Average per Month: $28.85
Still need something big of a boost to get into the hundreds soon...
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
01 Apr $23.01
02 Apr $34.97
Total Dividends for 2014: $346.25
Average per Month: $28.85
Tuesday 1 April 2014
2014 Dividend Accumulator V
Coo whee...something in the bank! Albeit a small little piddly sum.
Need a huge boost to get into the hundreds soon...
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
01 Apr $23.01
Total Dividends for 2014: $311.28
Average per Month: $25.94
Need a huge boost to get into the hundreds soon...
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
01 Apr $23.01
Total Dividends for 2014: $311.28
Average per Month: $25.94
2014 Dividend Accumulator Revised
It dawned on me that my stated valued were a mix of USD and SGD-denominated dividends.
Have made the appropriate changes.
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
Total Dividends for 2014: $288.27
Average per Month: $24.02
Have made the appropriate changes.
01 Jan $197.14
10 Jan $1.55
05 Feb $7.47
01 Mar $75.00
04 Mar $7.11
Total Dividends for 2014: $288.27
Average per Month: $24.02
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