Sunday, 17 February 2019

Yoogane - A Curious Tale of the Missing Tteokbokki and Potato Slice

Two days ago my wife and I went to the Yoogane outlet at Nex for dinner.

We made use of the 50% discount for reservation via eatigo + our $10 voucher from eatigo for this meal.

I guess the dinner crowd is not in yet or simply people are not patronising because including us, only about 5 tables were occupied.

All I can say is going to this place was a wrong choice.

Picture in menu

In reality

We ordered a 1 - 2 pax Charcoal Fire Chicken Galbi set which costs $20.90 and added a rice and noodles as sides.

After the dish arrived we were really surprised. It looks nothing like the picture in the menu.

The fact that there is only one piece of yellow and green bell pepper is not an issue since we don't eat that anyway.

But after we overcame our initial surprise we realised the tteokbokkis and potato slices shown in the menu are missing in our dish.

So I enquired with the waitress who was very helpful as she took a ladle and began digging into our dish seemingly to look for the ingredients.

Finally after a few rounds of digging, she seems satisfied that we were telling the truth.

And in what seems like an afterthought, she told us that the picture in the menu is for 5 - 6 pax and the portion for one person is 1 - 2 tteokbokki and potato slice each.

(we were thinking if that's the case, isn't that blatantly trying to mislead customers by placing the 5 - 6 pax portion picture in the 1 - 2 pax menu page?) 

(i guess picture is really for illustration only but still...)

Anyway I told her okay but that still doesn't explain the missing items. Thankfully she agreed on that and told us she will get the kitchen to prepare the missing items and give us 'MORE' pieces. Yeah!

Our missing items finally came after 10 min.

It is a grand total of 2 pcs of tteokbokki and 2 pcs of potato slices.

Yeah we finally got our missing tteokbokki and potato.

But wait. Didn't the waitress said she will give us more? So if 'more' means 2 pcs of tteokbokki and 2 pcs of potato slices, what does it means by 'normal' portion?

We didn't want to think too much so we hurriedly finish our food and went off.

The surprise doesn't ends here.

When we made payment at the counter, we found out that our order for the noodle side dish was taken wrongly.

Anyway since they said the price for the 2 noodles is the same we leave at that because my annual quota for MSG has been exceeded after eating at Yoogane.

We have to get some drinks. At another place. Anywhere but Yoogane.

In summary

Food: 5/10
Service: 5/10
Price: 2/10

Would I go back again? Probably not.

I can't imagine paying $20.90 for that kind of food portion and I can't accept dishonest / misleading practices.

On a side note, if you wish to register for eatigo and get the voucher, you can refer to my post here.

Wednesday, 13 February 2019

New Year, New Car

Hello everyone. It's a new year again.

Here's wishing everyone and your loved ones a Happy Lunar New Year!

Just a quick update for this week.

Over the weekend wifey, baby M and I went to the show room to check out some latest car models as my current COE is expiring next month.

On hind sight I should have started my car shopping earlier due to a reason which I will give below.

Prior to the show room visit, I have narrowed down my choices to two models:

1) Kia Cerato
2) A certain European brand starting with 'S'

Taking option 1 would mean less financial obligations and easier on the wallet for me. I also do not have to touch my investment portfolio.

Taking option 2 would likely involves me drawing down a certain percentage from my investments which would translate to lesser passive income for me from this year onwards and this is something I am very reluctant to do.

However the allure of driving a conti car for the first time is the reason why it is among my options in the first place.

Anyway my original intention was just to take a look, get a package price and decide later. However as we sat down with the SE for the discussion on the price and 'freebies' package, he was able to meet all my requests.

So in the end I decided to book the vehicle with him on the spot.

And my impending new ride is....


2019 Kia Cerato EX
(rims are of another design from this pic)

I am glad I chose the easier on the wallet option. In this way my investment portfolio remains intact, only downside is that I will have lesser cash for deployment.

Pros:

Best bang for buck car in the market now in my opinion
Nice design for both exterior and interior
Easy on the wallet

Cons:

Lead time of 3 months and above
Not so nice rims for the EX variant
(Probably will change them after getting my ride like what I did for my current one.. Haha)

And now it's a waiting game for the COE as I chose the 6 bids non-guarantee COE.

Tuesday, 22 January 2019

Review of InvestingNote

Was having my shower just now and my thoughts suddenly veered towards the investment journey I have taken so far.

It all started in 1996, 97. I was like a headless fly buying stocks based on volume and monitoring prices on the teletext. Made some money and after that I took a rather long hiatus before restarting my investment journey some years back.

Since restarted I frequent the Stocks, Shares and Indices (SSI) forum in HWZ.

I remember there was once I created a thread about what is causing the price of a stock to move and I suggested could one of the factors be algorithm trading.

Then I kena 'suanned' by this kid (I call him kid because he is in university and relative to my age) who asked me whether the price of pork in markets is controlled by algorithm also.

That was some unconstructive exchange of views in my opinion.

Anyway I still browse the forum for information and the diverse views.

But the title of this post is about my review of InvestingNote. How does that link up?

I was thinking I have written reviews of companies and my portfolio. So I thought why not write a quick personal review on InvestingNote, which is one of the platforms I frequent daily.

InvestingNote is now one of my daily must-go apps for keeping up with the news and on-goings in the financial world.

I enjoy the diverse views and news report shared among the members unselfishly.

Members are what make a forum.

People like Arsenal, Leslie_Shaffer, Hayashi8, SGNews, etc share news reports everyday.

People like Spinning_Top, uncle178, Grandpa Lemon, Sporeshare, opy, Hachiko, Master_GongJiaowei, CoryLogics, lynlynnakamori, jebus, luxcan, layers are some whose posts I enjoyed.

There are many more. I can't state all.

Functionality-wise, I find the app pretty intuitive. It is easy to toggle around. User experience is great.

Reading the posts, writing one, and making an estimate is very easy. If one can use Facebook and online forums, one would have no problem using InvestingNote.

Number and type of functions at this point of writing is fine in my opinion.

All in all it's a good job done by the InvestingNote team. I hope they can ride on the good work so far, continue to innovate and most important keep it free for members to interact.

Lastly I remember in the early days we were able to use our points to redeem rewards. Is that function still available?

Did not really follow this rewards thingy so any enlightenment would be appreciated. Haha.

P.s. This is neither a sponsored post nor a plp post hor..

Wow can't believe I took an hour to write this post..

Cheers and good night everyone.

Tuesday, 1 January 2019

Taking Stock of 2018


Leaving 2018 and entering 2019, time for a quick roundup of my 2018 and my little wishes for the new year ahead.

Work

This year is my company's 2nd year of operation. 

Results so far are a tremendous improvement over last year in terms of revenue, profits and scale of projects secured.

Although revenue is still about $75,000 shy of the target I set for myself, I have two more months to 'chiong' before end of my financial year. Hopefully I can close the FY even more beautifully.

In terms of business offerings, I have added the Design, Installation and Maintenance of Solar Photovoltaic (PV) system to my products and services recently.

This is actually synergistic to the other portion of my business which is environmental engineering, particularly in pollution control systems.

As I mentioned before, one of my investment guidelines is to ride along with the macro trend.

I believe Solar PV system is the way to move forward especially in a country like Singapore. Hence I made a deliberate effort to take up a course in this field and graduated from it recently.

This also means I have achieved my aim of adding a new capability to the company by this year.

Moving forward, my focus continues to be growing the business and if possible purchase an office space as part of my recurring income plan.

Other Incomes

Previously I have set a target of achieving S$7,832.88 for my side and passive incomes in 2018.

Actual passive income achieved for 2018: S$6,069.08
Actual side income achieved for 2018: S$3,042.86

Result achieved for 2018: S$9,111.94 (Target met)

For 2019 I am going to target another 20% growth in my dividend income as I will probably be drawing down a portion of my portfolio for some expenses.

For the side income in 2019, there is actually a much higher room for growth. I am in the midst of discussing a venture which if materialised, will contribute a significant amount to this category.

However I do not want to count my chickens before they hatch. Hence targets for 2019...

Targeted passive income for 2019: S$7,200
Targeted side income for 2019: S$3,000

Equities and REITs

My holdings as of 31/12/2018:


With the exception of M1, all the counters in my portfolio closed at a lower price this year end compared to last's.

In 2018, I've added another 5,000 shares of CapitaLand, added another 4,000 shares of Netlink Trust and bought 4,000 shares of Mapletree NAC Trust. Total capital injection is $25,820.

Excluding the capital injection, my portfolio value returned -13.7% compared to last year. A loss of more than $15k.

I really ought to read more, learn more and relook into my investment style especially in the technical analysis to time my entries better.

What a humbling experience. It shows how much of a fool I am in the stock market.

In summary,

1) Yield of Portfolio 2018: 4.30%

2) Cumulative Yield of Portfolio: 8.10%

Similarly, wifey's portfolio also dropped in value ($41,431.98) compared to last year ($41,919.78) if capital injection is excluded.

 
Personal

Baby M who arrived on Father's day 2018, never fails to bring a smile to our face. She is making lots of funny sounds and lots of movement nowadays.

Really a different kind of joy.

Our biggest wish is for her to grow up happily and healthily.

I always believe we should not forget to help others if we can.

Though my investment portfolio performed less than admirably, I donated $550 to a selection of charities in 2018. This is on top of my monthly Giro donations to Community Chest and NKF.

Thanks to giving.sg, it is so convenient nowadays to make donations and volunteering.

Last but not least, I wish everyone a happy new year ahead. Good health and good wealth!

Sunday, 18 November 2018

How to Save 50% On Your Meal and Get a $5 Voucher at the Same Time

So yesterday wifey and I went to Suntec City with baby M to attend an event. And on the way there we were thinking what to have for our late lunch.

Suddenly I had an epiphany. I have downloaded an app called eatigo for more than a year but have not used it so far.

So I decided to give it a try and search for some ideas for our lunch place.

eatigo is basically an app to make reservation for dining. The app itself is pretty intuitive and there are various criterias for you to base your search on.

Our search for Suntec City turned up a number of choices. Since we do not have any particular craving, we made a reservation with the eatery that provides the most discount. In this case, a whooping 50% discount excluding drinks.

The whole process of reservation took less than a minute.

Now the amount of discount depends on the timing. In our case since it was already 2.30 pm I guess it's the off peak hour hence the 50% off.

Here's the dessert picture of our lunch. The main course is already in my tummy before I realised at least a photo should be taken.


Ok long story short. This is how you get the $5 voucher.

You got to be a first time user of eatigo.

Download the app and register using my referral code: eatiewft

Alternatively, you can register via my link at http://refer.eatigo.com/eatiewft-1v9

After that you can proceed to make your first reservation with an eatery of your choice.

Once you have fulfilled your reservation, 100 points will be credited to your eatigo account.

This 100 points is equivalent to a $10 eatigo voucher, a $5 NTUC voucher or a $5 Coffee Bean and Tea Leaf card.

There are other stuffs that can be exchanged with higher no. of points too. You can check it out in the app.

In all honesty, using the above referral code or link will enable me to earn 100 points too.

Enjoy.

Disclaimer: This is not a sponsored post and I am not related to eatigo. This is purely a post to share some good stuff. 

Thursday, 15 November 2018

Recent Transactions & Dividends Update

Dividends Update

Dividends received to date: $5,602.80

Coming dividends: $466.28

From: MNACT, Suntec REIT and Netlink Trust

Total for the year: $6,069.08.

Target hit.

Recent Transactions
Purchased my maiden lots of Mapletree NAC Trust @ $1.11 during the recent bearish trends in the market.

Ever since they made the foray into Japan, I began to take a deeper look into MNACT because I like the geographical diversification taken by the management.

Have been monitoring MNACT for awhile since and when it hit my TP I pressed the trigger.

This is my second purchase of the Mapletree family. The first being Mapletree Logistics Trust.

Why MNACT?

Financials:

Gross revenue, NPI, distributable income and DPU all increased for the first half of this FY.

Gearing is a tad too high for my liking at 39% though it's still below the 45% regulatory limit.

Other Metrics:

Like the fact that 78% of the debt is tied to fixed interest cost. Assuring in the rising interest rates environment.

Also like the reduced forex risk with 80% of FY18/19 distributable income hedged into SGD. Prudent management.

Valuation:

My purchased price is well below the NAV of $1.325.

One of MNACT directors recently bought 200,000 of its shares at $1.12. Since I'm buying at a cheaper price I would like to think this is a price with enough safety margin.

Outlook:

With the exception of Gateway Plaza (98.7%), all other properties in the portfolio enjoy 100% occupancy. Average portfolio WALE of 3 years ensures continuity for the near future.

And with Festival Walk, Gateway Plaza and Sandhill Plaza all contributed higher average rental rates for the first half of the year, it seems that there is no lack of suitors for MNACT's mix of retail and office spaces.

I especially like the fact that GP and SP are located in the tier 1 cities of Beijing and Shanghai.

Finally, contribution from the newly acquired Japanese properties should provide the impetus for the trend of increasing incomes and DPU to continue.

A well-managed REIT with prudent management and >6% yield. Great.



Added Netlink Trust @ $0.77 to my existing IPO holdings. Waited for its XD before buying as I reckoned it should fall further below NAV levels.

My holding price averaged to $0.79 with this tranche. Close to its NAV of $0.792 as of 30 Sept 2018.

Reasons for buying Netlink Trust have been covered in previous post and those reasons have not changed.

I like this counter for its stable and recurring income.

Financials:

Revenue, EBITDA and profit after tax are higher than projection for H1 FY19.

Can't find the gearing in the financial statements so I did a quick calculation using their loans and net assets. The gearing stands at 20.5%.

Annualised DPU of $0.0488 is higher than the $0.0464 projection and yields 6.18% against my cost.

Valuation:

Purchased price is a slight discount to book.

Outlook:

Netlink Trust maintains a strong economic moat as the dominant player in the field of fibre cable laying and associated installation.

In the short to mid term, Starhub's cessation of its cable network and transition of its broadband customers to fibre network by July 2019 provides likely upside.

In the mid to long term, the increasing residential units will continue to spearhead Netlink Trust as the residential connection segment contributes ~60% of its topline.

The low gearing puts the company in good stead if they wish to expand their business beyond the core offerings, though that will require shareholders approval.

If there is one worry it will be a reduction in the regulated returns during the next review period after Dec 2022.

Lower installation revenues highlighted in the financial report ought to be noted for next half (2H FY19) monitoring as well.

Meanwhile let's collect the >6% yield per annum first.

Wednesday, 14 November 2018

Review of CapitaLand 3Q18 Results


CapitaLand has just released its 3Q18 results this morning.

All in all it is a good set of numbers as expected.

PATMI increased by 13.6% to $362.2 M.

Due to higher operating PATMI and assets recycling.

Operating PATMI increased by 13.3% to $233.7 M.

Due to contributions from newly acquired and opened investment properties.

EBIT increased 0.2% to $796.3 M.

Due to recurring income from investment properties and contributions from development projects, fair value uplift and portfolio gains from divestments.

Topline for the quarter fell 16.9% to $1.26 B.

Due to lower contributions from development projects in China and Singapore, partially mitigated by higher rental revenue from newly acquired and opened properties as well as consolidation of revenue from three entities.

$4.0 B of assets are divested YTD and recycled into $6.1 B of new investments including higher yielding assets that are immediately incoming producing.

Gearing stands at 0.51x (2018 YTD)


Notable Points

1) RMB6.36 B and more than S$71.2 M of sales will be recognised in 4Q18 from China and Vietnam markets.

2) CapitaLand / GIC JV's acquisition of Shanghai's tallest twin towers along the north bund. This iconic landmark will be CapitaLand's 3rd Raffles City in Shanghai and 10th globally.

Property construction is expected to be completed by next June.

3) There is 44% drop in portfolio gains comparing YoY. I need to spend some time to further understand this. Nonetheless is still a gain not a loss.


Thoughts

No matter how I look this is a decent set of results from CapitaLand. However it does not seems to provide the catalyst for the uplift of its share price. Same as with previous cases.

In fact CapitaLand was among the top institutional selling last week.

Perhaps the big boys deemed this to be not good enough. Or perhaps there is a deliberate attempt to push down the share price.

My feel is that CapitaLand is always on the radar of the institutional players and therefore will always be subject to the effects of the big boys trade.

With a slew of developments in the pipeline (e.g. new acquisitions, malls management, coliving, coworking, dormitories, etc) the outlook for CapitaLand is exciting to look forward to.

At this point of writing, CapitaLand is trading at an attractive level. Will continue to add.