Making Passive Income

Monetary Authority of Singapore issues warning on perpetual securities

Calvin Yeo — Thu, 17 May 2012 17:25:04 +0000

Monetary Authority of Singapore (MAS) has finally issued a warning for investors regarding perpetual securities. This is a follow up to the previous article when MAS was just ‘concerned’ about the perps. However, it seems somewhat late as the investors have already invested in the perpetual securities, especially the Genting retail perp bond. MAS should [...]

Comments on Straits Times Article MAS Worried by perpetual bond rush

Calvin Yeo — Wed, 16 May 2012 16:20:09 +0000

Recently, there has been quite a few perpetual bond issuance, like Singpost, Olam, Mapletree Logistics Trust etc. However, what must have caught MAS eye really is the Genting perpetual bond raising which included a second round to market to retail investors. Now that MAS has made it official that they are concerned, I guess it [...]

Potential Singapore REIT Reforms

Calvin Yeo — Mon, 14 May 2012 02:18:44 +0000

I read with great interest this week’s Edge article the REIT Reform. Apparently MAS is studying the regulation of REITs and there are several proposals being brought up. I believe a few incidents have led to this, such as the acquisition of Ocean Financial Center by Keppel REIT and also the use of internally financed [...]

My Singapore Stock Portfolio End April 2012

Calvin Yeo — Thu, 10 May 2012 16:16:05 +0000

This is an update to my Singapore Stock Portfolio for the Month end of April 2012. For previous months, please see My Singapore Stock Portfolio End March 2012 My Singapore Stock Portfolio End February 2012 My Singapore Stock Portfolio End January 2012 If you notice, the portfolio is exactly the same as my previous month. So [...]

My Malaysia Stock Portfolio End April 2012

Calvin Yeo — Wed, 09 May 2012 14:23:03 +0000

This is an update to my Malaysia Stock Portfolio for the Month end of April 2012. For previous months, please see My Malaysia Stock Portfolio End January 2012 My Malaysia Stock Portfolio End December 2011 My Malaysia Stock Portfolio End November 2011 I have started to take opportunities during the recent market rally to [...]

Questions Regarding CapitaMall Trust Divestment of Hougang Plaza

Calvin Yeo — Sun, 06 May 2012 16:25:59 +0000

I have received some questions regarding CapitaMall divesting Hougang Mall. Since I have a rather large proportion of stocks in CMT, naturally I should be concerned and analyze the transaction. For those of you who do not know, CMT will be selling Hougang Plaza to Oxley Bloom for $119.1 mil. CMT is estimated to make [...]

Financial Statements Forensics – Checking Cash Flows and Accruals

Calvin Yeo — Thu, 03 May 2012 05:48:43 +0000

I am writing this post in to highlight a recent article in the Edge Malaysia. It is an interesting look at financial fraud and how to spot it. Financial fraud has plagued public companies all over the world and Malaysia is no exception. Some of you may remember the big names such as Enron which [...]

M&L Hospitality Trust IPO

Calvin Yeo — Mon, 30 Apr 2012 05:42:10 +0000

The previous post was about Global Premium Hotels IPO, the owner of economy hotel chain Fragrance hotel. M&L Hospitality Trust on the other hand, has hotels in Singapore, Australia and Japan under different brand names. They are Singapore (Ibis Bencoolen and Ibis Novena), Australia (Sheraton Four Points Sydney, Swissotel Sydney and Travelodge Melbourne) and Japan [...]

Mid Valley MegaMall and Mid Valley Gardens to be listed in REIT by IGB

Calvin Yeo — Wed, 25 Apr 2012 16:15:03 +0000

The moment a lot of investors have been waiting for has arrived! IGB has decided to list Mid Valley MegaMall and Mid Valley Gardens into a retail Malaysian REIT. Since the listing of Pavilion REIT, some people have asked me about possibility of Mid Valley being listed. Initially, IGB was just exploring the idea, however, [...]

Global Premium Hotels IPO

Calvin Yeo — Mon, 23 Apr 2012 16:24:39 +0000

Both Global Premium Hotels and M&L Hospitality Trust IPO caught my eye recently. Global Premium, priced at $0.26 per share operate Singapore’s largest chain of hotels, 22 under Fragrance and one under the Parc Sovereign brand. The hotels are considered economy to mid tier ranges, which is a good segment that has more stable demand [...]