Thursday, October 29, 2020

Notice for EGM of SillyInc

Dear Readers, 

Notice of EGM hereby issued. The company seek the mandate to go beyond 10% of the holding in overseas market. As SillyInc expand the radar, It is quite likely that Hong Kong Exchange counters will exceed 10 percent of porftolio very soon. 

Singapore will remain the core and majority of the portfoilo for years to come. Beyond Hong Kong, Silly Inc has made a maiden investment in AT&T and might invest further if the price is right, so it is very unlikely that SillyInc can be a pure local player 

Some of the Hong Kong Counters vested

1) Lonking 3339

2) HSBC 0005

3) SinoPec 0386

4) GA pack 0468

5) Cosco Ship Int 0517

Those in watchlist include

1) APT Satellite 1045

2) Stella Holding1836

3) Ping An Insurance 2318

4) ICBC 1398

5) Tracker Fund 2800

US companies will play a second fiddle to Hong Kong Market. Silly Inc Board of directors wish to assure readers that the company is not looking to chase the tech giants, and many of the companies the company is looking at are near the 52 weeks low.

Of the Hong Kong counters, most counters are screen through various metrics like dividend yield, PB, PE, Margin, Current Ration, Debt to equity ratio etc. before running through the various websites and industry news to get a better idea of their business and growth areas or turnaround areas 

Lonking is in the construction machinery demand business, infrastructure stimulus is usually what China do to boast the economy. The company 1H profits is at par with last year and yet is price is languishing at 52 weeks low. 1H is the period where China undergoes a few months of Lock Down and disrupted the construction industry and if 1H profits hold, we can be confident about the end year results. 

HSBC and SinoPec are opportuntist investment. HSBC went through a few whammy. Suspension of dividends, profits fall due to low interest environment and damning reports that they might have helped to move illicit funds. Of the three, I believe only the second reason is of real concern and no quick fix, despite their restructuring efforts. 

SINOPEC, I shall not repeat what ROLF says in his post, but some quick verification of his findings and the latest results of sinopec does inspire confidence to take the plunge. 

HK account is the only investment account that is in the green in this depressing COVID environment.


We now owned sembcorp marine due to the demerger exercise.

We added Keppel and with SembCorp Industries, we are betting on the whole O and G sector and Singapore move to restructure it to include renewables/ LNG. 

We increase our stake on Capitaland, SingTel, SingPost and HONGKONG Land

We initiate positions on SATS, ASCOTT

We reduce our position on Silverlake, taking impairments/ loss to the portfolio to rebalance the portfolio such not a single counter exceed 10% of the portfolio, either by market value or Cost, whichever is higher. In fact, only 3 counters exceed 5%, and they are SCI, ST eningeering, and Silverlake. We will continue to look to keep and well diversified porfolio through Cash, CPF and SRS.

The company is now 20% cash and 80% equity, excluding funds from CPF available for investing, and liquidation of cash products. We believe we are in a good place to navigate the market. Including all funds for investing, we are comfortable to increase cash holdings to 50% if necessary, although company has no plans to raise cash, unless market went beyond March Low. 

Total Portfolio is Down 5.6%, excluding dividends which we believe outperformed STI index YTD or 1 year time frame and is on par with 3 year time frame. 

Looking forward to your "Approval" during EGM 


Monday, October 26, 2020

Random thoughts: 2015 to Now, what have changed?

This post is inspired by Rolf, looking back at 2015. I did a review in 2015 post, but I ended up reading up what I wrote in 2015, I was quite actively writing in 2015. So maybe i will let this be as random as possible

Family, social 
I wrote about asking a staff, then under my charge did she feel any excitement taking care of her pupils, or a sense of responsibility, and i ask myself the same questions as a father, son, etc. I guess nothing much has changed, the sense of responsibility for those under my care has hardly changed. But if you talk about excitment about seeing my family, I would say things are better at home as well as work, compared to 5 years ago. I talked about spending more time with my parents in 2015, both have passed on. I believed I did my share of caregiving to the best of my ability, but what I discovered in highsight, is my work is my saunctuary for my caregiving, and caregiving my escape and me-time from my other committments. The time spent alone watching the phone or blogging, is care for myself. 

I am more at peace. I dun have a lot of questions. More of reminders to keep to the rules set and refine them periodically. Compared to 5 years ago, my radar went beyond singapore shores to HK and US exchanges. Although both Exchanges have very few counters under radar or watchlist, both are fast expanding. I also no longer dream of early retirement, i simply hope to have some passive income, to the best of my ability. Looking back, I am horrible at money, have I not climb the coporate leader and my human capital appreciate over time, i might be in financial ruins. So, I also no longer habours any dreams to be a beacon of lights or "idol" to others in investment faternality. I shall keep to myself, and write to crystalise my thoughts and feel an article might be interesting. Google ad money is a joke la. 

I read about the inner demons at work, and questions about pedagogy 5 years ago. I am happy that most demons are gone with me stepping down from my management roles. Although there are new demons, they are more manageable. I also have ready answers for a lot of questions, I guess I am no longer confused. The answers I have might not be good or model answers, at least there is something for me to fall back on. I am mindful that given I am more wilful in my work intentions, I might be out of job one day. I have been thinking about various options if I step out to the private work. I am rather confident of my craft and survivability, but lifestyle might need to downgrade if I do private work. 

Closer and closer to the dark side. Less and less compassion. Hardly felt the urge to help someone anymore. The worst Health Really in a mess, before CCA stopped due to Covid, I still tried to exercise as a coach, by warming up with the pupils, and play the sport together with the pupils. Now, I eat more than I should, exercise less than I could. Not a Nice Picture, Bro Rolf,if you are reading this, you keep up your good health and hobby ok... 不要像我这样堕落

Monday, October 5, 2020

Random thoughts: Investments action applicable to relationship building?

Cut your losses, let your winners run (Remember to set a trailing stop)

Basically, we get ride of the lousy counters, and try to keep the best ones. If we go home, deadbeat everyday, are we at our best, or our worst. I am not sure about you, but I definitely at my best when I am feeling tired. Yet, as I look at myself, most of the time I am so tired when I am home, then almost all conversation seem draining and uninteresting. When I am at work, starting the day fresh, I might be able to joke with my colleagues, hold a good conversation as well. When your family is holding to the losses (The burnt-out/ fatigue you) almost everyday, how not to be affected? You look at your counters in red everyday, even if you have conviction you made the right call, you also feel sian right? Find time and window to start and meet your family fresh and energetic 

 Have a mistress? HAHAHA, just kiding. I am guilty of putting 80% of my energy at work. Even when I am at home, I am still working most of the time, marking, preparing lessons etc. The concentration of capital at only area is a high risk venture, as your experinces and identity became a your job designate. In singapore, everyone already appreciate how competitive worklife is and how high cost of living is. I don't think any heartlanders will not understand long working hours and weekends that are also devoted to work. Yet, precisely becasue of that, I should have been more mindful of finding pockets of together time. When your family ask to make breakfast together, even if you rather sleep longer and call in, perhaps it is a good idea to lose that 1 hour or so more hour. Make time for your friends and relative too. I find myself living like a hermit. I do have a few whatsgroup and friends at facebook, but I realise I do not really like meeting out with friends. This Covid19 bring up the hermit it me. 

Understanding the business behind the counter, not just the price 
We research on the company, try to understand the business, do business comparison, key in ratios, read annual reports and industry news. Yet, I don't apply the same rigour in planning for that birthday birthday or that special occasion. Investing is not about having a "cost" mindset, but having a "growth" or "value" mind, perhaps I should stop counting that overseas trip or weekend meal with dollars and cents.

Friday, October 2, 2020
















5) 上天保佑