Caveat Emptor

Thoughts about Investing in China Market I have recently ventured for a leisure trip to Shen Zhen and Guangzhou. Considering that a significant part of my portfolio is exposed to China market (Raffles Medical, OCBC, Tencent, HKEX), a trip to China has been on my bucket list for both professional and personal reasons. The reputation of ShenZhen as the silicon valley of the east indeed lives up to its name. I am very impressed by the contrasting differences in the retail landscape in China as compared to Singapore, as well as the potential of the China Market. Myth 1 : Any company exposed to China is bound to make it rich. If you manage to sell even a dollar to everyone in China, you will instantly be a millionaire. Reality : The retail landscape of China is insanely competitive. A scuttlebutt analysis at Fraser Suites Guangzhou exhibited a stark contrast with Singapore retail landscape, whereby even popular locations can have vacant stores. With Alibaba and JinDong (JD.com),...

Highlights I have gleaned from Raffles Medical AGM 1) Revenue stream 56%Hospital 40% healthcare 4% investment holdings,  There is a sharp increase in investment holdings revenue due to Raffles Holland V rental business / contribution (Similar to REIT business) . Raffles Medical is focused on acquiring space for land intensive hospital business and is converting space to acquire rental.   Prevailing trends and strategy 2) In 2017, due to the economic downturn, there is significant price cutting / negotiation in corporate services. Companies are lowering their quotes for insurance and clinic contracts. As Raffles medical is focused on bottom line profitability and not top line sales revenue, they are turning down contracts that have low profit margin to reduce unnecessary expenditures.  3) There is strong price competition from Malaysia and Thailand. This is worsened by high medical charges in Singapore. This led to industry wide decrease in fore...

High level summary of raffles medical 1) Financial health Strong operating cash flow Portfolio of investment properties (freehold clincs), which are marked to market and a potential asset play Increase DPS Increase revenue 0.8%, increase NPAT 1.1% Strong insider shareholding and insider uptake of share options Potential asset play with strong portfolio of freehold and long lease investment properties and clinics (marked to market, might be illiquid) Drawing down in free cash flow and increase on short term and long term unsecured  debt 2) Risks and prospects (to be raised during AGM) 2017 is a challenging year for medical tourism and may have understated it's potential. Do you foresee and short term or long term recovery? Whom are your possible competitors? Scored high in client satisfaction index. Expanding network and services, opening 4 clinics. Also expanding in Hong Kong and Indochina. Is recruitment efforts in Chongqing going well especially for the 700 bed hospi...

Stock Name Mode Qty Avg Cost Price Total Cost Percentage ASCENDAS-ITRUST CSH 2500 1.13 ASCENDAS-ITRUST 2,812.50 20.5554540471 ASCENDAS REIT CSH 1000 2.25 ASCENDAS REIT 2,250.00 16.4443632377 HYFLUX CSH 4000 0.57 HYFLUX 2,260.00 16.5174492965 RAFFLES MEDICAL CSH 2000 1.31 RAFFLES MEDICAL 2,610.00 19.0754613557 SINGTEL CSH 1000 3.75 SINGTEL 3,750.00 27.4072720629 STI ETF (Philips) Philips DCA 1859 3.047 STI ETF (Philips) 5664.373 41.3986698337 Singtel Maybank Cust 300 3.68 Singtel 1109.19 8.1066325598 STI ETF Maybank DCA 118 3.25 STI ETF 390.16 2.8515256715 Silverlake Axis Maybank Cust 2000 0.59 Silverlake Axis 1201.21 8.7791704732 Portfolio Book Value ...