Has the Time Come to Invest in ComfortDelGro?

by: Tam Ging Wien


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into account their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


The bad news surrounding ComfortDelGro (CDG) needs no introduction, instead of explaining it, here are links to the relevant publications:

The...

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A Closer Look at M1’s Q3-2017 Results and How It Stacks Up Against Its Peers

by: Tam Ging Wien


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


M1 Ltd released its Q3-2017 results yesterday night after market hours and reported a slightly better revenue of $251.6mil, up 1% compared to the same quarter last year. Despite the increase in revenue, the net profit was down 4.8% to $32.7mil compared to the same quarter last year.

According to M1’s release, its “service revenue increased 4.9% year-on-year to S$206.7 million” and this was “mainly driven by higher postpaid and fixed services...

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Comparison Between Singapore Listed REIT ETFs and Lion-Phillip S-REIT ETF IPO

by: Tam Ging Wien


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


Asset management company Lion Global Investors Ltd has joined forces with Phillip Capital to launch Lion-Phillip S-REIT ETF; an SGD-denominated ETF that will track the performance of a basket of Singapore listed REITs. The ETF will track the Morningstar Singapore REIT Yield Focus Index.

This joins two other Singapore-listed REIT ETFs namely the Phillip SGX APAC Dividend Leaders REIT ETF, and Nikko AM-Straits Trading Asia ex Japan REIT ETF. Both these REIT ETFs...

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First Bitcoin, then Bitcoin Cash, now Bitcoin Gold?

by: Tam Ging Wien


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


In August this year, the first cryptocurrency Bitcoin forked into the classic Bitcoin and a new cryptocurrency called Bitcoin Cash. With Bitcoin Gold hard fork just around the corner on 25-Oct and another one in potential split due to Segwit2x in November, we might end up with 4 different version of Bitcoin by end of this year!

Looking back at Bitcoin’s Scaling History

To have an appreciation of this, we must first look back into history. For years, factions...

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What May Have Triggered the Sell-off in SIA Engineering?

by: Tam Ging Wien

- A glimpse into a what a stock market crisis may look like?


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


On 04-Oct-2017, SIA Engineering (SIAEng) fell to a low of $3.15 before rebounded to close at $3.21. Just recently in Jun-2017, it was trading at a high of $4.21. Its historical low was during the Global Financial Crisis in 2009 when it traded at $1.58. There was more than 10mil shares traded that day.

In an effort to defend its share price, SIAEng conducted its largest single-day share buyback in a...

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Quick Thoughts Recent China ICO Ban and Crypto-exchange Shutdown

by: Tam Ging Wien


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute financial advice or a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence and take into their own financial situation. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


China’s central bank, The People’s Bank of China (PBOC) became the first country to outlaw ICOs or short for Initial Coin Offerings. South Korea has followed suit days after China. Countless other governments such as Singapore, Hong Kong, the US and UK have issued public warnings regarding ICOs.

ICOs are similar to IPOs. In an IPO a company raises funds from the public and list its stock on a publicly tradable stock exchange. In the case of an ICO, the...

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Hyflux’s Worrying Cash Flow Situation

by: Tam Ging Wien

- Years of Profits Did Not Translate to Cash Flows


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


This week, we decided to take a look at a company which hasn’t really been on investor’s radar lately. We have noted a general absence of coverage of Hyflux Ltd (Hyflux, SGX:600) in the media and decided to break the media silence regarding this well know company.

Patchy Revenue

Source: Hyflux Ltd Annual Reports

The first thing we note about Hyflux is its patchy revenue trend. This is understandable as it generates significant amount of revenue from project...

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The Who’s Who of the Razer IPO

ipo razer razer inc stocks Sep 29, 2017

by: Tam Ging Wien

- A Glimpse into the Interconnected World of the Wealthy Asian Elites


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


Razer Inc has been garnering a lot of attention lately. In July 2017 news broke that Razer was planning for a 2017 IPO. Later in Aug 2017, Razer CEO Tan Min-Liang had a short Twitter exchange with Singapore Prime Minister regarding rolling out a nationwide payment network.

With so much attention surrounding Razer, we decided to download a copy of its Application of Proof document from the Hong Kong Stock Exchange. You may download a copy from the following...

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The Beginner’s Guide to Understanding REITs

by: Tam Ging Wien

This is a follow up from previous articles regarding our analysis of Mapletree Logistics Trust (MLT) and Comparative Analysis of SGX Listed Retail REITs, Analysis of Cromwell European REIT IPO. We had good feedback with regards to our contents but we also did get questions regarding how REITs are analysed.

Therefore this week, we decided to publish an educational piece to demystify REITs and help get beginners up to speed on REIT analysis and investing.

What is a REIT?

A REIT is short form for Real Estate Investment Trust. REITs are a type of professionally managed collective investment scheme with its primary business being the acquiring, owning and financing of income generating real estate. REITs have the benefit of providing investors with a regular income stream and prospects of long term capital appreciation.

REITs provide investors an affordable means to invest in a diverse range of real estate assets. REITs tend to have a specific portfolio focus....

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Cromwell Suspends CEREIT’s IPO

by: Tam Ging Wien

2nd Largest IPO in Singapore for 2017 On-Hold


All examples and stocks quoted here in this article and on the ProButterflyTM site are for learning purposes; it does NOT constitute a Buy/Sell recommendation. Contents are reflective of personal views and readers are responsible for their own investments and are advised to perform their own independent due diligence. If in any doubt about the investment action you should take, you should consult a professional certified financial advisor.


In a surprising turn of events, Australian real estate investment manager Cromwell Property Group (Cromwell) has put on-hold the listing of Cromwell European REIT (SGX; CEREIT). The IPO would have been the first REIT to be denominated in Euros (€) and the second largest IPO in Singapore this year.

Cromwell in a regulatory filing on the Australian Stock Exchange dated 22-Sep-2017 entitled Cromwell Elects Not to Register Prospectus has stated that Cromwell has decided not to...

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