Friday, April 30, 2010

PreOffer Announcement: Sim Siang Choon (594)

References: SGX - SIM SIANG CHOON

Company Info:
Sim Siang Choon Ltd is a Singapore-based investment holding business engaged in the provision of management services to its subsidiaries. The Establishment operates in 3 segments: bathroom, which comprises sanitary ware, shower screens, taps and hand showers, baths and spas, vanity tops, bathroom cabinets and bathroom accessories; kitchen and others, which comprises kitchen cabinet systems, kitchen sinks and appliances product, and assignment which includes results from supply of sanitary wares to construction contracts. The Company operates in Singapore. The Establishment’s wholly owned subsidiary is Sim Siang Choon Hardware (S) Pte Ltd, which is engaged in dealing of all kinds of sanitary hardware, appliances, accessories and fixtures for use in bathroom, toilets and kitchens.



Offer Price
$0.11

The offer price is almost half of the current price, meaning a huge discount. Not sure why though.

Thursday, April 29, 2010

Bought 170 lots of Texchem @ 0.13

I managed to get Texchem @ 0.13, probably can be patient with 0.125 instead. Regardless, I prefer to get it quick and reduce my time needed to observe the market. With this buying, I will need not do anything unless anything unexpected occurred.

Weekly soccer betting with Martingale system #15

This week's bet
The next $100 monthly fund @ 14th May.

$94 Fund Carryover

$80, SCHLK 04 vs W BREMEN, Home 2.05
$80, (not enough fund)
$160, (not enough fund)
$160, (not enough fund)

$14 Fund Left (from $400 invested)

References:

  1. Singapore Pools odds

Wednesday, April 28, 2010

Pre-Conditional Cash Offer: LOW KENG HUAT (F1E)


References: SGX Offer Document

Company Info:

Low Keng Huat (Singapore) Limited is a Singapore-based company. The principal activities of the Company consist of general building contractors and investment holding. It operates in four segments: construction, property development, hotels and investments. Operations in construction comprise building and engineering work. Development refers to property development. Operations in hotels comprise owning and operating of hotels. Investments refer to investment in properties and shares in quoted and unquoted equities. In addition, the Company owns deluxe hotels in Perth (Australia) and Ho Chi Minh City (Vietnam) under the in-house brand Duxton Hotel. Its other hospitality related business is food and beverage business in Singapore. Amongst its investment portfolio are investment properties in Singapore, Malaysia and China.

Offer Price
$0.465

Note that the offer is pre-conditional. The conditional are mostly just the permission from regulatory bodies and shareholders. The timeline is expected to satisify the conditions on or about 23 July 2010. There isn't any premium since the offer is the same price as the last transacted price.

Friday, April 23, 2010

Weekly soccer betting with Martingale system #14

Getting closer to finishing all the positions for assessing the ROI. A quick calculation makes me wonder if I miscalculated somewhere because the possible return is better than I expect.

The worst case is you run out of capital to fund the bets and you kept losing bets. It can happen since bets double each time you lose and grows exponentially. With the current largest bet position of $160, another 3 wrong bets will result in $160 * 2 * 2 *2 = $1,280 which is 12 times the $100 monthly fund.

The best case is all bets are correct from this stage. Very unlikely. If the odds represent probability it is the probably of tossing 4 heads in a row. 0.5 * 0.5 * 0.5 * 0.5 = 0.0625 or 6.25%. If it does happen, the final result should be fund available + bets positions remaining = 6 + 168 + 40 + 40 + 160 + 160 = $574 over the $400 invested. Something must be wrong but I delay the review till the positions are fully closed.

This week's bet


The next $100 monthly fund @ 14th May. Betting on the smaller $40 positions instead of 1 $160 just for fun. Even if the 2 bets lost, there can at least be 1 more bet at least next month.

$ 6 Fund Carryover
$168 Winnings from Last Week

$40, ETOILE FC vs SAF FC, Away 2.05
$40, MAINZ vs E FRANKFURT, Home 2.05
$160, (not enough fund)
$160, (not enough fund)
$94 Fund Left (from $400 invested)

References:

  1. Singapore Pools odds

Saturday, April 17, 2010

1 USD = 1.34017 SGD

1 USD = 1.34017 SGD

That is the rate Paypal is currently giving me for exchanging for $100+ USD dollar. I don't dabble with forex but a quick google "1 usd to sgd" gives me 1.37260069 which is around 2.4% higher. Should be fair given I see somewhere the fee for forex in Paypal is 2.5%.

An alternative to letting Paypal gets the 2.5% profit is to direct sell to others in need of Paypal USD fund in exchange for fund transfer to my local bank account. Saw people posting that in some local forums.

http://forums.hardwarezone.com.sg/showthread.php?t=2613282

His rates seem to imply it should be possible to sell the balance this way. Will definitely consider this option.

US$1 to US$19 -------- 1.40
US$20 to US$49 -------- 1.39
US$50 to US$99 -------- 1.385
US$100 to US$499 -------- 1.38
US$500 to US$999 -------- 1.375
US$1000 & above -------- 1.37

Friday, April 16, 2010

China Life cash out

Got the $17,800 from China Life delisting, earning $739.92 since I bought it in 26th January. Gross return is 4.34%, annualized return is 19.79%. However it is still worse than the return if I invested in the STI ETF which is around 34.00% annualized.

Been thinking about ASA group which is around $0.020 from the $0.055 which I bought. It is probably due to the highly possible delisting since it does not meet SGX conditions to keep its listing status.

I was thinking whether to sell it when it was $0.06 - $0.065 but decide to keep it since it still haven't show its potential. I only saw it drops to $0.02 pretty late but I did saw it on the newspaper. I think one saying "Cut Losses and Let Profits Run" makes me feel that the decision not to sell is correct. However, I lack a way to cut losses since I see it drops only quite late because I don't track the market often.

My final thoughts is what to do if the company has to delist. I should sell it since there might not be any way to recover the money if it delisted. But, I am still hesitant and still wish to hold on to it. Probably decide only when it really get to that situation.

My idea now is whether there is an opportunity to profit from shorting these watchlist companies when their 3-year limit are up. I will still keep buying delisting companies since I don't need to track or spend time on the market. There is still a risk that the auditors didn't do a good job and there isn't sufficient proof that the company can pay the cash offer as stated.

Weekly soccer betting with Martingale system #13

New funding, with the next $100 monthly fund @ 14th May. The goal is still to close this as soon as possible and assess the ROI.

This week's bet


$ 6 Fund Carryover
$100 Monthly Funding

$20, CAGLIARI vs PALERMO, Away 2.1
$40, STUTTGART vs LEVERKUSEN, Home 2.1
$40, FREIBURG vs NBERG, Home 2.1
$40, (not enough fund)
$160, (not enough fund)
$160, (not enough fund)

$6 Fund Left (from $400 invested)

References:

  1. Singapore Pools odds

Friday, April 2, 2010

Weekly soccer betting with Martingale system #12

No funding, will get next $100 monthly fund @ 16th April

This week's bet


$ 6 Fund Carryover

$20, (not enough fund)
$40, (not enough fund)
$40, (not enough fund)
$40, (not enough fund)
$160, (not enough fund)
$160, (not enough fund)

$6 Fund Left (from $300 invested)

References:

  1. Singapore Pools odds