[Post 109] Event and Convention: FSM Invest Expo 2020 part 1(New Cheapest brokerage in Singapore:IFAST GLOBAL?!)

I know that this is probably a super...rrr late review, but I finally had the time to wrote about it after my exam,so...here we go!

Personally, I had never been to FSM INVEST EXPO as I had only signed up for my FSM brokerage account in 2019. So this was my first time attending FSM INVEST EXPO.

There wasn't any schedule that I was adhering to throughout the event, so it was more like "own time own target"

As usual, conventions like this were always full of people!

Layout of the event area

Schedule of the event

1) Near the stage

2)Nikko AM booth(promoting disruptive innovation Fund)


3) stock pitch

4)Game booth(LASSO THE BULLS & AVOID THE BEARS!)

5)  UOB offering tea(who doesn't like free stuff?!)

6) Shroeder offering free churros

7)Yes,i love free stuff too!

 8)And lastly,the Stage area

And of course, I did not win the lucky draw...

So that was roughly how was the event like for me, in my opinion, I think it should be held over two days instead of one like AFA as this will allow more talks to be held.

Onto the brochure!

First, of course, the most exciting news that I have encountered in FSM Invest Expo 2020...

Cheapest brokerage in Singapore!

Yes, indeed, its 8 dollars per trade on the mobile device, but is it trustable? or is there any hidden catch?

So what is IFAST GLOBAL? (P.S not sponsored by them)

• iFAST Global Markets ("iGM"), a division of 'FAST Financial Pte Ltd, was launched with the main objective of providing consumers with complete commission transparency in insurance and investment products. Our team of Investment Advisers are dedicated to the vision of providing transparent, ethical, and suitable advice to benefit investors by reducing commission bias which may be unknown to consumers. 
• As an advocate of full transparency in insurance and investment commissions, we will only recommend only product that we understand and believe in

IFast Financial Pie Ltd (Singapore) Licenses: 

• Capital Markets Services Licence and Financial Advisers Licence issued by the Monetary Authority of Singapore (MAS) 
• Central Provident Fund Investment Scheme (CPFIS)-registered Investment Administrator 
• CDP Depository Agent 
• a Trading Member of SGX-ST and Clearing Member of CDP 

What investment products do they offer?(Source)

UNIT TRUSTS 

• Funds invest in a diversified range of assets. A fund's diversified portfolio means risks can be better spread over the assets In the fund.* 

EXCHANGE TRADED FUNDS 

• Exchange-traded funds (ETFs) are EID investment funds that are listed and traded on a stock exchange.* 

BONDS 

• A bond is a debt security. It is a form of borrowing_ Governments and companies issue bonds to raise funds. When you invest in bonds, you are lending money to the issuer for a fixed period of time 

STOCKS 

• A company offers its shares to investors to raise money. The company may need such funds for reasons such as to grow its business, acquire new assets, or remain solvent.

DISCRETIONARY PORTFOLIOS 

• DPMS is a service by iFAST that helps investors invest via a discretionary managed portfolio.* 

INSURANCE

• Insurance is meant to protect you, youth family, and things you care about. The insurance you buy depends not only on what you want to protect but also what you can afford.* 

And finally, is there any hidden catch?

source

Yes, of course, there is a hidden catch. For the first 100k, there is a 0.28%p.a

So if u had invested with 10,000(below 100k), the charges would be $28(0.28%) annually

Assuming you are trading in SGX stock, you need to trade at least 7 times per year to breakeven when comparing with the normal FSM fees of 10 dollars per trade(Notes:All figures are estimated)

IFast GLOBAL

• Buy transaction fees: $8
• Sell transaction fees: $8
• Annual fee $28
• trade time: 7 times
• total cost: ((8+8)*7 time) + 28 =$120 

• Buy transaction fees: $8
• Sell transaction fees: $8
• Annual fee $28
• trade time: 8 times
• total cost: ((8+8)*7 time) + 28 =$156

FSM, STANDARD CHARTED, OR DBS CASH UPFRONT

• Buy transaction fees: $10
• Sell transaction fees: $10
• Annual fee: $0
• trade time: 7 times
• total cost: ((10+10)*7 time) + 0=$120

• Buy transaction fees: $10
• Sell transaction fees: $10
• Annual fee: $0
• trade time: 8 times
• total cost: ((10+10)*8 time) + 0=$160

Conclusion: In my opinion, it is definitely the brokerage you want to get if you are trading frequently in SGX stock. Unfortunately compared to another brokerage in the US such as Robinhood $0 USD per transaction, or even SAXO 4.99 USD per transaction, Singapore brokerage fees definitely still have a long way to go to hit below 5 dollars or even 0 dollar

That's all for this post, will continue with more brochures update from FSM Invest Expo 2020 in the next few post!:)

part 2 here...

[Post 101] AFA SG 2019(Anime Festival Asia)

Personally, I went to AFA (Anime Festival Asia) on a yearly basis except last year ,because nothing was of interest to me

Decided to go this year because of the great Anisong lineup on Fri(Fhana ,TRUE, Uchida Maaya, and Scandal) ,arrived at Suntec around 3pm (My first Anisong concert!)

Wanted to save the booking fee by purchasing on on-site ticket,but alias the booking fee was still included($103.00 ,very expensive!)

Below are some of the exhibition photo,for those who are veterans of AFA,the AFA exhibition is mostly the same year-on-year basis

Merchandise were pretty much all the famous anime e.g Kimetsu No Yaiba, sword online etc

(The crowd in the pictures below says it all,squeezy!!)

1)Greeted at the entrance by RX-78-2 Gundam

2)AKIBA stage

3)The queue at MUSE(anime merchandise store)

AFA merchandise are pretty marked up!(word of advice:buy anime merchandise outside of such convention unless its an item that is exclusive to AFA)

4)People try out new boku no hero(not pico,guys!) game

5)Back at AKIBA stage with DEAR KISS performing!(you would normally find me at hanging out at AKIBA stage most of the time!)

6) Spend the remaining of my time trying out the various trading card games to get free pack and card!(battle sprit and Yu-Gi-Oh)

Basically, people who go AFA can be divided into 4 categories:

1.The Anisong concert attendee

2.The first timer(those who want to experience AFA once)

3.The buying frenzy(never understand why they do that, most AFA anime merchandise are marked up!)

4.the stage goer and wota(The wotagei who know every anisong and fan chant ,and is always arm with lightstick)

The best part of the AKIBA stage is the DJ playing anisong,although if you're not familar with anisong,you'll still have a great time because of the crowd's enthusiasm

And what's AFA without some cosplay pics...

                          

And finally, the most exiting part of the day ,the anisong concert!

No picture or video to be taken during the event(god knows why they had to set up those recording equipment 

The artiste lineup is as follows(Fhana, Uchida Maaya ,TRUE ,Scandal)

Brief description of Fhana (courtesy from Wikipedia): Fhana is a four member Japanese pop band that formed in 2012 as an indie band. .Fhána originally formed with Jun'ichi Satō, Yuxuki Waga, and Kevin Mitsunaga, all three of whom had previously been active in separate independent bands. Fhána did not have a fixed vocalist at first, instead employing guest vocalists to sing the band's songs.Towana later joined Fhána as the official vocalist

Some picture of Fhana from AFA facebok(mostly Towana)...

Fhana setlist as below

I was a bit disappointed that Fhana setlist did not include moon river and hello my world!

Aozora no rhapsody was of course the highlight(chu chu yeah!!),Boku no Mitsukete ,Niji no Ametara and Hoshizuku no interlude is one of my favorites from fhana too 

About 5 mins into the concert, i notice that the person left and right wasn't very enthu, and it did kinda pissed me off a little ,hahaha(i suppose most people came to see scandal only)

2 song i recommend from Fhana!

1.Boku no mitsukete

2. Moon river

TRUE is one of my favorite solo singers (she's also very pretty!)

TRUE setlist as below

Again, a slight disappointment that TRUE setlist did not include divine spell, which is my second most favorite song from her, it would have been a definite uplifting concert tune. 

The highlight for me was when she sang STEEL-Tekketsu no Kizuna-, which in my opinion is her best song

2 song i recommend from TRUE!

1.STEEL -Tekketsu no Kizuna-

2.Divine Spell

Uchida Mayaa is my favorite Voice actress(and no offense i think she is one of the most prettiest va around)

Mayaa setlist as below

A little surprised that she sang cosmos given that it wasn't any anime song,(but its my favourite song from her ,so no complain!:D) 

Karappo capsule was probably the period when i start to lose my voice due to all the shouting and it wasn't even Scandal yet!(hahaha)

Another slightly pissed off moment was when Mayaa segment was about to start and someone said "Mayaa who?"(hahaha)

2 song i recommend from Mayaa!

1. C.O.S.M.O.S

2.Youthful beautiful

And finally the highlight of the concert: Scandal!

Scandal setlist

The audience was pretty wild when they begin their segment with "masterpiece" which is not an anisong and latest single at that time. 

Most people know Scandal through their anisong in bleach, so it was really fun to hear them belting out old anisong favorite such as Shoujo S ,Harukaze and Shunkan Sentimental

Scandal also belt out a new song from their album "kiss from the darkness", A.M.D.K.J ,which apparently is the first time it is being play live(a good treat to the fans,i must say!)

2 Song i recommend from Scandal!

1.Masterpiece

2.Yoake no Ryuuseigun

Would have love to go for JUNNA on Saturday but then it would be a waste of money as i do not listen to the other Saturday artist song though

Great respect for those who spend the money to watch only one segment performance!

All in all, AFA exhibition get only an okay for me as the exhibition is same old, same old. But the Anisong concert make the experience ten times better(and probably 10 times more expensive also!)

[Post 100]Trip To Invest Fair 2019! part 2

Continue from the last post...

Valuation model

Discounted cash flow model 

Company Name:Singapore O&G(Listed on SGX)
Market cap: 188.337
Last Done:0.395
Free cash flow per share:0.02764
Intrinsic value:0.326

Company Name:Raffles Medical(Local Peer SGX)
Market cap :1,882.653
Last Done:1.030
Free cash flow per share:0.03504
Intrinsic Value:0.414

Company Name: TalkMed(Local Peer SGX)
Market cap:657.251
Last Done:0.500
Free cash flow per share:0.01989
Intrinsic Value:0.235

Discounted Earning Model 

Company Name: Singapore O&G(Listed on SGX)
Market Cap: 188.337
Last Done:0.395
Earnings Per Share:0.01919
Intrinsic value:0.227

Company Name:Raffles Medical( Local Peer SGX)
Market Cap:1,882,653
Last Done: 1.030
Earnings Per Share:0.03887
Intrinsic Value:0.459

Company Name:Talkmed(Local Peer SGX)
Market Cap:657.251
Last Done:0.500
Earnings Per Share:0.02199
Intrinsic Value:0.260

Financial Analysis

Strong Financial Results Last 3 Years

• It has increasing revenue increase in last 3 consecutive years
• The company has strong financial strength(Piotroski F-score 8-9)
• It has good cash ratio of at least 0.8 for 3 consecutive years and no debt as net cash
• It has consistently high profit margin of at least 40% for 3 years
• It has consistent high net profit of at least 20% for last 3 years
• ROA(Return of asset) is above 10% for 3 consecutive years 

Compound Annual Growth Rare(CAGR) 

Notes:

1.CAGR calculation are based on Full year financial results announcements over the past few years

2.CAGR calculation will not be made if any of the Full Year Financial are not based on 12 months 

3.Adjusted CAGR calculations takes into account effects of applicable corporate action(e.g stock splits and consolidation) and the current number of shares

Revenue 

Over the last 3 year:+28.22%

Net earnings

Over the last 3 year:+19.65%

Earning Per Share(EPS)- Historical

Over the last 3 year:-10.43%

Earning Per Share(Adjusted)

Over the last 3 year:+19.65%

Dividend Per Share(DPS) -Historical

Over the last 3 year:-5.74%

Dividend Per Share(DPS)- Adjusted

Over the last 3 year:+22.35%

Technical Overview below

Investment Summary 

Evaluation

Summary

• The company has strong financial strength,no debt,high profit margin and in a recession proof industry 

• Based on Lyn's Research Technical chart also indicate a BUY for this stock(BULLISH)

• Based on Discounted Cash Flow model(DCF) and Discounted Earning Model(DCM),it is trading at a discount in terns of its intrinsic value as compared to its peer Talk Med and Raffle Hospital 

• Singapore O&G is lagging behind the market due to uncertainties regarding the healthcare industry due to rising trade war tension between US and China,leading to less medical tourist.This seems to put this stock in what we call a special situation: a potentially undervalued stock due to great concerns regarding its future earnings.Also a recession may happen in Singapore within the next 2 years ,hence we like it as an investment in a well-diversified portfolio,as it could yield an asymmetric return in a relatively short period of time 
• Strong BUY

(Quite an interesting presentation i must say, next up i have an presentation on stock pitch kimly,but it seem i have only one picture,somehow the other pictures were lost)

Thesis

• PE ratio 13.8 is relatively cheap
• Dividend yield of 5.37% is relatively good
• Balance sheet relatively strong
• Weighing the risk and reward,recommend a buy/long position for Kimly at $0.235
• For conservative investors,recommend a buy/long position at $0.210(10% margin of safety based on $0.235)

Other interesting brochures that i have collected during the event...

What is a CFD?

A contact for Difference(CFD) is a tradable instrument that mirror the movement of the underlying asset.It allow traders to take advantage of the asset price movement without physical ownership 

CFD Benefits 

• CFDs add a greater flexibility to traders in their trading strategies.In addition to trading long position as traditional stock investors. CFD traders have the options to take on short position.Hence,gain can potentially made in both bull or bear market

• CFD provide the ability to hedge an existing physical portfolio

• No expiry mean no time delay

• Access a wide range of global markets and trade multi assets thorough a single online CFD trading account

• Efficient use of traders capital 

• CFD provide leverage to traders so that they can trade without the need of depositing the full value of a position.This allows traders to utilize excess capital more efficiently rather than being committed to one transaction

Dividend Portfolio

Dividend investing is an investment strategy which focus on purchasing dividend paying stocks or REITS to generate a steady stream of passive income

Metrics to screen for Dividend Stocks/REITS

• Dividend Yield > 4%
• Dividend Pay-out Ratio < 1x
• Net Debt to Equity <0.5x
• CAGR of DPU >2% for past 3 year
• Total Debt to Total Assets < 0.4x (for REITs and Trusts)

Dividend is most suitable for investors with the below characteristic:

1.Low-Moderate Risk Tolerance Level 

2. Long investment Horizon

3.Low Effort & Time & Portfolio Monitoring

Growth Portfolio 

Growth investing aims to identify companies that have promising future growth potential,even if they have high valuation ratio

Metrics to screen for Growth Stocks 

Revenue Growth >15% for past 3 years 

Gross Margins > 25% for past 3 years

Price Upside from Analyst Consensus Estimates > 20%

Growth investing is most suitable for investors with the below characteristics 

1.High Risk Tolerance Level

2.Long Investment Horizon

3.Moderate Effort & Time for Portfolio Monitoring

Value Portfolio

Value investing focuses on buying companies for less than what they are worth (margin of safety),and then selling them when they approach their actual value (Intrinsic value)

Metrics to screen for undervalued Stocks

• Compounded Earnings Growth  > 10% for past 3 years
• Return Equity > 10% for past 1 year
• Net Debt to Equity < 1x
• Trailing P/E Ratio  < 15x

Value Investing is most suitable for investors with the below characteristics:

1.Moderate Risk Tolerance Level 

2.Moderate-Long Investment Horizon

3.Moderate & time for Portfolio Monitoring

Trend Following Portfolio 

Trend Following is a technical analysis approach that detect stocks in the initial stage of a trend and aims to ride on the trend for big profit

Metrics to screen for Trend Following Stocks

• RSI (n =20) > 50 FOR 1 day
• ADX Trend( N=20) above 25 for 1 day 
• Bullish ADX + DI  > -DI(N =20)
• Price >MA50 for 1 day 

Trend Following is most suitable for investors with the below characteristics:

1.High Risk Tolerance Level 

2.Short Investment Horizon 

3.High Effort & Time for Portfolio Monitoring

SGX Investor Resources

Be empowered by SGX's suite of investor resources.Designed and developed for all investments,from novices to professionals,we provide you the tools and technique to achieved informed investment decisions

Research- sgx.com/mygateway

Stay in touch with Singapore stock market with weekly curation of market news and investor education events

On-the-go- SGX Mobile App

Get first-hand news with live market updates on your customised watchlists through SGX Mobile App

Tool - sgx.com/stockfacts

Plug into SGX Stockfacts to access the stock fundamentals on all SGX-listed companies

Education - sgx.com/academy

Sharpen your investment acumen at SGX Academy with our team of professional trainers

That's basically sums up the brochure and the event,all in all a great convention to go full of like-minded people.Looking forward to the FSM invest EXPO 2020!

[Post 99] Trip To Invest Fair 2019!

17 AUGUST 2019 Saturday

171819 (Sat) Day One

Well, I haven't been to invest fair for ages(not since 2016 anyway, haha). So I thought, I will pop down to it this year.

This year invest fair is situated at Suntec conventional center, the last time I went was outside Ngee ann city, compare to that Suntec seem like a better choice

I did not take many pictures about the event areas(but I did took many brochures though)

Basically, this is what is did...

1. Walk around the whole exhibition 

2.Sign up for the LIM&TAN securities(why?: Because DBS no longer give company report)

3.Sign up for CIMB (Why?: Also for the company report)

4. Sign up for a SAXO account(why?: After researching, I deem it to be one of the best brokerages to buy US stock, oh I got an umbrella also as a free gift! who doesn't love a free gift?)

5. Listen to the stock pitch

Here are some pictures taken during the stock pitch from investingnote top member(Lim Guang sheng and lynlyn)

The stock that they are promoting is Singapore O&G(stock code:1D8)

As of 31 December 2018, the Group has a total of 14 medical specialist medical practitioners, across four business segment -O&G, Cancer-related, Dermatology, and Pediatricians, comprising :

-Six O&G Specialists 

-Three Cancer Specialists: One Gynae-Oncologist and two breasts and General Surgeons

-Two Dermatologists

-Three Pediatricians

SOG was listed on the Catalyst board of the Singapore Exchange Securities Trading limited

since 4 June 2015

Company Overview: OVERALL GROWTH

Business Strategy

Progressive approach

• Recruit more O&G Specialists to enlarge the core O&G segment of the group
• Build up patient load for Pediatrics segment 
• Increase the level of inter-clinic referrals through synergy awareness
• Continue to grow non O&G business segment to increase revenue and profit

Overseas strategy 

• Look out for overseas opportunities, especially in an area where are not just financial but also, the humanitarian and other ancillary perspectives 

INVESTMENT THESIS

Singapore O&G ability to future market growth, based on the well-established track record on Primary and Secondary healthcare for Women and Children create an optimistic investment that has been undervalued in the market 

Recommendation :Buy FY 2019,Current Price $0.395, Price target: $0.50 (26.6%)

(Some of you may be curious and check, as of now Singapore O&G is $0.29 Date:25/11/2019, this is within expectation as after the stock pitch I went up to them and ask whether the O&G stock price will drop due to Singapore recession, they did confirm it, so don't blast them for their inaccurate information)

Risk

• Company is dependent on its continued ability to retain its key management personnel and specialist medical practitioners 

• Singapore O&G is exposed to risks in respect of outbreaks especially Zika virus 

CATALYSTS 

• Growing number of cancer-related problems for women 
• Singapore's healthcare system has gained international recognition for its efficiency and coverage with all citizens and permanent residents enjoying coverage by Medishield Life for basic medical coverage

INDUSTRY ANALYSIS 

OVERALL HEALTHCARE 

• Healthcare is a recession-proof industry. The below data point to a probable recession in Singapore.Defensive stock amid economic uncertainty for 2020
• Asia's overall healthcare spending is projected to surge to US$2.27t by 2026 from the US $1.69t in 2017, driven by higher healthcare cost, the rising incidence of chronic diseases, a burgeoning middle class and an overall shift in the age  

Porter' FIVE FORCES ANALYSIS

New Entrants(Low-Medium)

• High startup costs and the industry is extremely capital intensive and need medical specialists to run create barrier to entry to this healthcare industry in Singapore

Substitutes(Low)

• The primary substitute is the government hospital. People come to private healthcare for better performance and service hence threat is low

Supplier Bargaining(MEDIUM-HIGH)

• Medical specialists, healthcare staff, and medical equipment are needed to support Singapore's O&G healthcare services. Specialists with experience are hard to be replaced

Buyer Bargaining (MEDIUM)

• Demand for women and children private healthcare service is increasing and patients visit Singapore O&G for their healthcare service 

Industry Rivalry  (MEDIUM)

• Compete solely based on reputation and good service to maintain market share and stay afloat

Industry analysis

Strengths

• A leading group of specialist medical practitioners, with a long and established track record in the Obstetrics and Gynecology
• The balance sheet remains healthy with cash and cash equivalents at $25.1 million as at 31 March 2019 compared to $21.5 million as of 31 December 2018. The group has no borrowings as at 31 March 2019

Weakness 

• Operationally, expenses were higher in Q1 2019 compared to Q1 2028 due to a 21.5% increase in consumables and medical supplies used in procedures by all segments 
• Smaller market cap compared to peers 

Opportunity

• A growing number of cancer-related problem for women
• Singapore healthcare system has gained international recognition for its efficiency and coverage with all citizens and permanent residents applying for coverage by Medishield Life for basic medical coverage

Threats

• Dermatology segment registered s$0.3 million decline in revenue from Q1 2018 due to an increasingly competitive landscape for this segment 
• Private players were left to fight the remaining 22-23% of the market, the tertiary healthcare market in Singapore is monopolized by public hospital which snapped up 77.8% of admission in 2018

Industry analysis

Weakness analysis

There is some weakness in the Dermatology segment, however, but we are confident that the company  has the ability to strengthen with the growth in anti-aging business as reported by some key players as reflected by table(Unfortunately, my picture wasn't clear enough)

Overall Growth

• In 2018, despite a 1.3% decline in total live-births to 39.115 from 39.615 in 2017, Singaproe O&G segment registered 108 more birth in FY 2018, bringing the total number of babies delivered in FY 2018 to 1,824 as compared to 1,716 in FY 2017

• With the growing demand for O&G services, Singapore O&G plans to further increase their specialist in FY 2019, which is a growing pie for this company to tap on 

• In Singapore, statistics have shown that cancer cases have been rising and breast cancer is top cancer affecting women. Our highly-trained cancer-related specialist provides an extensive range of breast care services, both medical and surgical to treat diseases of the breast and also educate our patient and their families to conduct regular self-examinations for early detection. In FY 2018, our cancer-related segment accounts for 15.3% of the group total revenue(Once again, apologize for poor photo taking)

Will continue at the next Post!