07 May 2019

Quick update: Trading resumed



The previous withdrawal was due to incorrect SWIFT codes. Now that my broker has acknowledged, the error is rectified.

A new trading account with AxiTrader was set up and I have to say I am quite pleased with the overall experience.

I will do up a proper review to share my experience. Meanwhile, I am accumulating the trades so that I have sufficient results to show and share with you guys.

Meanwhile, if you would like to open a trading account with AxiTrader, I hope you would use my referral code below. with the referral code, it is a promo code where the trading fees will be lower. On top of that, Axitrader will also share a part of the brokerage revenue with me. This helps to contribute and fray part of the hosting costs for SGSAS.

I hope it is not too much to ask for. Thank you for your kind support



www.axitrader.com/?page=A000005&promocode=858200


22 April 2019

Quick update on our FX trades






Just a quick update for my followers.

In the process of changing my FX accounts (due to the split of partners), the money has been sent to the wrong bank. Emails have been sent to the broker and they are processing still.

We are waiting for the funds to come back to our account before we can proceed again.

Hope that we can start soon. It is a loss of income and time for us too.


11 April 2019

What does Hyflux tells us about the Singaporean investors?

Hyflux's distress may just be the beginning of a series of default risk situations.

The troubles of water treatment firm Hyflux signals more challenging times ahead for the larger Singapore dollar bond market as close to $4b (US$3b) of SGD corporate bonds are set to mature by the end of 2019 and the number is tipped to hit around $13.53b (US$10b) by 2020, according to estimates from S&P.

And these numbers are not plucked from the sky. It is from the article here: https://sbr.com.sg/financial-services/in-focus/hyflux-troubles-trickle-down-nearly-4b-corporate-bonds-mature-end-2019

Before reading further, please understand that this post is not going be discussing how one can recover back the invested money, or to garner monemtum to rally for a change in regulations or what nots. It is just going to be my observations and comments on the Singaporean investors' mentality, as well as the state of things for Hyflux.

For the uninitiated, it is important to know the company Hyflux. Taken from: https://en.wikipedia.org/wiki/Hyflux which summarised into some simple points:

  1. Hyflux Ltd (Hyflux), founded in 1989 by Ms Olivia Lum is a global environmental solutions[clarification needed] company listed on the Singapore Stock Exchange (SGX), and employs over 2,500 staff in the Asia Pacific, the Middle East, Africa and the Americas.
  2. The company was founded in 1989 by Ms Olivia Lum, Group CEO, President and Managing Director.
  3. In 2006, the company was given the 'Water Company of the Year' award, at the 'Global Water Awards', by the Global Water Intelligence, UK.
Given the nature of this company, and in the context of Singapore where water supply is a matter of national security, it is not very difficult to understand why many Singaporean investors plonk their life savings into Hyflux. Be it bonds or equities or even preferential shares of Hyflux, investing in any of the mentioned asset classes is deemed as invested into the company, Hyflux.

And for the records on water being the matter of national security, this can be cited from the link here: https://www.gov.sg/news/content/today-online-water-must-be-priced-fully-as-its-a-matter-of-national-security-says-masagos

With all these general understanding and explanations above, let's now focus on the investors. Of which, a majority are Singaporeans.

In Hyflux Ltd., there are 34,000 of these moms and pops, set to lose most – if not all – of the S$900 million ($665.5 million) they plonked down in the troubled Singaporean water and power firm’s preference and perpetual shares. This information is taken from: https://sg.finance.yahoo.com/news/dont-blame-singapore-investors-hyflux-loss-andy-mukherjee-023106678.html.

These invested shares, preferential or perpetual, yield about 6% plus. In the SG market, this is reasonable and fair. The current market rate of dividend yield is about 3 to 6%, so 6% pa is considered on the high side. Not to mention the investing intention, that is to buy and hold for dividends. As such, the price of the security does not fluctuate very much. In fact, there are no transacted volume on some days.

Starting from 2011, investors were happy. There were no qualms about it. As illustrated below, the dividends are smooth and stable. That is what investors like about, aint it?


First signs of trouble came on 21 May 2018. The shares as well as other asset classes belong to Hyflux are suspended. Hyflux applied for court supervision to reorganise liabilities and businesses the next day. The company's earnings had been hit from "prolonged weakness" in the local power market due to the Tuaspring project, the first integrated water and power project in Asia, making losses in 2017 and first quarter of 2018, as an oversupply of gas in the Singapore market caused depressed electricity prices.

This is typical what companies will do in the event of unsolvable trouble.

On March 30, 2019, people gather to listen to a speaker during a protest on Hyflux Ltd. debt restructuring plan in Singapore. Judging from the picture from https://sg.finance.yahoo.com/news/dont-blame-singapore-investors-hyflux-loss-andy-mukherjee-023106678.html, it is probably 300 people or so.

This rally is significant because it has illustrated clearly that investors are unable to stomach this loss. The suspension of a wonderful dividend yielding asset is a huge blow to investors' dream and expectations. They had failed to envision the worst case sceranio if the company ran into issues at that point of time before investing.

To be fair, the content of the protest cannot be found online. Likewise, there are no witten or spoken agenda of that protest. However, from the picture below of a banner with the word "Blood Suckers" sprawled across, it can be inferred that the affected investors are seeking every possible avenue to demand their money back. 




The investors in Singapore are too positive and simple when it comes to investing! Risk and return are both sides of the coin. No matter how you split the coin into a half, there will always be 2 faces to the coin. One cannot simply have great returns without great risks!



Using a crude analogy: investing, trading, speculating, fundamental investing, technical reading, whichever one calls it, it has a certain degree of risks and probability in it. From the past to the future and beyond, risk and return come hand in hand. Similar to a game of dice, the simple gambling game of guessing big or small, if the investor/trader/speculator has placed bets on a certain position, the participant cannot recall back the money or worse, urging others such as authorities to assist in recovering the lost bet. By doing so, it just being a bad loser.



Yet this actually happened in Hong Lim Park.



Do understand it is NOT the intention here to put salt in the wound and to mock and jeer of the monetary loss of investments in Hyflux. It is also not the intention here to be on the high horse acting smart, or worst, being a clairvoyant who is able to read and see the future congratulating those who did not invest in Hyflux. The observation here is on how extreme the investors are to the extent of urging authorities to assist in recovering their money back.



While it is right to attempt to recover the lost money, it has to be of the right and fair methods. Their demand that the Singapore government should step in has been a nonstarter, even after some of them even organized a rare protest at the city’s Speaker’s Corner to try to squeeze out a better deal. And that protest actually happened. It is unbelievable.



From the above illustration and actual incidents, it is clear that investors are still rather simple, straightforward and expected to be spoonfed. If they continue to be so, they will never improve and fail to plan for themselves properly.



And to make things worse, it will incur structural changes within the market to stem out such investors in future. More new regulations certainly sounds good. Alas, too many regulations stifle our market. Look at our SG market compared to all major markets now. How can we continue to maintain as financial hub still?



Losing money is upsetting and can never be a good experience. Yet being a bad loser creates a vicious cycle resulting in ignorance and greive for everyone around, like a drowning man dragging everyone down along.


Comments below.

09 April 2019

Closure of current FX account

It is unfortunate to announce that SGSAS has to change the FX account holder after operating for the past 6 months. As a result, all the opened positions are to be closed, resulting in lesser net profits.

Yet this is not an end in our FX trading plan, or worst, anything bad that has happened to our trades. We can assure you that this has nothing to do with the recent change. It is a dispute between our partners (the funder and investor), thus the account has to end at this current moment.

We are in the process of opening another account, and we take necessary steps to ensure a similar predicament will not happen again.

You may refer to our screenshots below to justify our claims. Overall, after ending all opened positions (which USD has strengthened, and is not in our favour of course ), the total net profit is 4%, drawdown 15% and interest expense total at S$75.

The total deposits and withdrawals will reflect the net absolute profits we will receive after terminating this particular account.

Thank you for your patience. We will keep you informed of the new account again.


Summary
  • +4.91%
  • Abs. Gain:+4.91%
  • Daily:0.03%
  • Monthly:0.92%
  • Drawdown:13.47%
  • Balance:S$0.00
  • Equity:(0%) S$0.00
  • Highest:(Mar 22) S$3457.58
  • Profit:S$136.16
  • Interest:-S$75.45
  • Deposits:S$2770.63
  • Withdrawals:S$2906.79
  • Updated:54 Minutes ago
  • Tracking





02 April 2019

Review of Bitcoin Broker: Tokenize Exchange

We have traded in equities, futures and FX too. This allows us to capture all possible market opportunities available, giving us the best returns in every possible circumstance.

Brokers for traditional asset classes as mentioned above are readily available online and offline. 

But what about those who are looking to trade Bitcoins and other crypto-currencies? And what's more, to look for a Singapore registered bitcoin broker and transact in SGD?






This is the company in Singapore that allows buying and selling of actual Bitcoins, as well as other crypto-currencies. No doubt there are other exchanges that allow trading of coins, but there is one problem: those are Derivatives Trades

What are derivative trades? By definition, the derivative of a function of a real variable measures the sensitivity to change of the function value with respect to a change in its argument. That also means that the coins that are purchased are not the actual coins to deposit and withdraw from. It is merely participating in the price changes with hopes of profiting.

Tokenize Exchange allows users to buy and sell actual coins. Once purchased, it allows withdrawal to other wallet addresses. There are different wallet addresses for different coins. Make sure it is the right coin to the right coin addresses for successful withdrawal. The screenshot as below:

Tokenize Wallets



The fees for Tokenize Exchange are extremely competitive as well. Rates are as low as 0.1% for Platinum users. And with the addition of using TKX as trading fees, fees for each execution are negligible. It cannot be $0 because there has to be a fee for the trading service rendered. 




Based on the example above, the purchase of S$650 worth of bitcoins costs only approximately S$0.32 cents! That is even cheaper than buying custody SG shares! Of course please note that I am a platinum user and I am using TKX (Tokenize own coin) to settle for the trading fees. In summary, I am enjoying a 50% discount off the regular fees.

Still assuming that if it is not a discount of 50% off, it is still a regular fee of S$0.70 per trade for a transaction of S$650. I really think it is competitive and effective for a Singapore company to be able to offer such rates. 


So where does Tokenize Exchange come from? 

This can be found in the description of its utility coin. 



In case the words are too small:

{

What is Tokenize Xchange (TKX)?

Tokenize Xchange is a fully integrated cryptocurrency exchange that offers both individuals and institutional investors a frictionless and un-sophisticated user experience. The platform will serve as not only a financial tool but also as an educational and communal instrument in proliferating the values and ideas that the blockchain has to offer. The TKX token can be used to pay transaction fees for any trades on the platform, doing so will allow for significant reductions in the fees.
The TKX token is an ERC20 token based on the Ethereum blockchain. 

Uses and Benefits

Tokenize Exchange is an all-in-one focal point that provides Digital Exchange, IEO Platforms, Merchant Solutions, Information, and Educational Resources.
Using an intelligent trading algorithm Tokenize Xchange offers competitive rates as well as a personalized customer experience. It's simple and user-friendly interface allows ease of use for both individuals and institutional investors.
On top of that users also enjoy regular perks and promotions.
}


Tokenize Exchange allows direct transfer of SGD from bank to bank. This avoids credit card and other transfer fees necessary for the trades. If there are any issues or delays, there is also a telegram support group for end users to reach out to the Support Team. Screenshot of the Tokenize telegram group.


Through the telegram group of Tokenize, I have seen the community grow from a mere hundred users to the current size of 12k users, spanning over the ASEAN region

For myself, I am an early adopter and I found this company by chance. I have been using Tokenize Exchange for almost 1 year plus. Given the numerous requests from my friends to ask for tips and suggestions, I post many ideas and work with many partners hand in hand to post and share on this personal website of mine. So I feel that it is time for me to do a post to share another tip of mine for friends who have been looking out for a local SG crypto broker.

On ending note, the fees are competitive and according to the market rates. The greatest winning point for me is that it is a locally registered company with the ability to transfer and transact in SGD via bank transfer. This is the best for me to interact and have a Singaporean company to handle my trade orders.

Currently, MAS (Monetary Authority of Singapore) does not regulate Bitcoin or cryptocurrencies, hence there is no need for Tokenize Exchange to be registered as well. 

Hope that gives a concise view of Tokenize Exchange. 

If you decided to give it a try, I will be appreciative of you to use my referral link here. This gives you and I 5TKX each. We can use it to offset out trading fees.

Thank you for reading and happy trading!

31 March 2019

DBS upgrade Jumbo to BUY with higher target price S$0.50

Jumbo: One of our holding in the investing portfolio just got an upgrade by DBS recently. 
With better prospect of improved profitability in Singapore, and store restructuring, higher franchise revenue to drive higher operating earnings.


Stock consequently also saw a spike in volume, hopefully the interest is sustainable as price continues to move up. In our opinion, we think earnings and negative sentiments for the stock has bottomed, and Jumbo is one of the rare "exportable" Singapore brands that has a strong bankable franchise with good cashflow and a solid balance sheet




25 March 2019

Here's How A Beginner Can Start Stock Investing Confidently...



Hi, my name is Chris Susanto, founder of Re-ThinkWealth.com.

With partnerships with SGSAS, I bring this short message to You.

Early this year, I refined and updated my signature exclusive 1 to 1 course offering at The Re-ThinkWealth Online Academy.

The course is called The VIM Club.

It teaches complete beginners -- in the most effective way possible (Exclusive 1:1 Mentorship) -- value investing and options selling, two strategies many stock investors have used to make lots of money.

Keen to find out even more? Click here to claim Your FREE Trial NOW! (Limited slots for this season).

New Author from Re-ThinkWealth.sg!

We have invited Chris from Re-thinkwealth.sg to be our guest blogger recently. This will help to establish both parties to be a hub for sharing and educating, sharing our passion in both trading and investing.

Should you have any feedback, or suggestions that you can bring to SGSAS, please feel free to write to us. This blog is created for everyone and we seek to improve and expand our resources for your benefits.


13 March 2019

QNS: How to Sell 496 ST Engineering shares?




QNS: I have 496 shares for ST Engineering and is trying to sell all shares. I tried the online portal but the system is saying that "Reject reason: The quantity is not in multiples of board lot size. Please re-enter your order."




ANS: The board size is in multiples of 100 shares. Thus for 496 shares, you will have to sell 400 shares at the main board, and 96 shares in the odd lot market. The trade execution sequence (main market first or not) does not matter.

Also, the prices in the main and odd lot market might differ a little due to liquidity.

Be sure to sell the correct quantity of shares. Hope that helps.

27 February 2019

Changes in the investing portfolio

1) Taking profit on half the position of sunningdale, after a 31% rally (including dividends)
2) Getting out flat on Singmedical- although valuation remains attractive, but change in major shareholder puts clout of uncertainty - how shareholder friendly will they be? Will they insert any thing dilutive to the company?
3) Continue to hold HongKong Land and Hock Lian Seng. 
4) Rotate capital from Singmedical to Jumbo- buy 100,000 shares at 0.415. One of the most iconic brands representing Singapore, with potential to expand internationally on a wide scale. Already did that with franchises, but waiting for income to start showing, with costs digestion in the initial stages. Plans for new store openings in Singapore are also highly positive, given Singapore's market is the most profitable for them per store. Have already opened 1 new Jumbo store in ion.
- Jumbo also has gd net cash position, good cashflow generation, dividend yield of about 3%.
- Floor formed as prices supported by daily share buybacks, and hopefully a recovery in earnings will propel the stock up (1Q19 profits up 15%)

26 February 2019

Update on investing portfolio- Yay!

Update on investing portfolio

It has been a roller coaster 2018- but was pleasantly  surprised by the performance when last checked back in- so buying and putting it away does work after 1 year :)
We returned 4.7% (since we started in 14 Dec 17) vs FSSTI (-0.9% after accounting for dividends)

Of note, we were in the money for 3 out of our 4 positions (sadly, Hock Lian Seng pulled us down by quite a fair bit)

We will looking to update our portfolio soon, after the weekends, after we have some time to evaluate some new ideas and current positions. Happy investing and trading ahead!



22 February 2019

Market Crash? What To Do?

Worries over intensifying trade war could return to the forefront as China rolls out new tariffs on meat, fruit and other US imports totaling 128 products, retaliation against US taxes on steel and aluminum. 

The market has been in a whipsaw manner. Though I think there should be a short rally again towards mid-year after all this is settled. GDP worldwide are improving and technology is helping to shape a different economy. An economy that is more efficient and faster than before.

Given the current market, for the bold, it is a very good chance for trading in and out.

And for the bold and smart ones who want to do leveraging, you may refer to the table below. It allows both longs and shorts, and some on a leveraged ratio. 

The best part is, it is available via the usual simple stocks account.

Please check with your broker for more information. 

On a side note, please know that broker is your friend and a person who is trading too. So it's all about sharing to educate and share. No need to insist or demand information because you have 'paid trading fees' to the broker. Even if you have paid 1% trading fees, it still does not warrant for such. (probably another post on that another time)

Attached for your convenience. :)


Symbol
ETF Name
Asset Class
Total Assets ($MM)
YTD
Avg Volume
Previous Closing Price
1-Day Change
Overall Rating
TQQQProShares UltraPro QQQEquity$3,358.843.75%6,206,140$143.925.54%
SSOProShares Ultra S&P 500Equity$2,271.05-3.47%2,996,590$105.482.77%
FASDirexion Daily Financial Bull 3X SharesEquity$1,946.66-5.83%2,247,311$64.283.59%
FLGECredit Suisse FI Large Cap Growth Enhanced ETNEquity$1,819.422.11%19,669$232.903.64%
QLDProShares Ultra QQQEquity$1,597.523.91%2,172,761$76.203.67%
FIYYBarclays ETN+ FI Enhanced Global High Yield ETNs Series BEquity$1,498.22N/AN/A$96.751.91%
UPROProShares UltraPro S&P 500Equity$1,403.47-6.66%2,485,877$130.734.23%
FBGXUBS AG FI Enhanced Large Cap Growth ETNEquity$1,390.851.94%4,466$231.602.76%
NUGTDirexion Daily Gold Miners Bull 3X SharesEquity$1,312.69-22.82%6,882,964$24.403.96%
FIHDUBS AG FI Enhanced Global High Yield ETNEquity$1,189.01-6.03%28,673$161.712.88%
SPXLDirexion Daily S&P 500 Bull 3X SharesEquity$1,089.28-6.86%5,931,999$41.294.16%
UYGProShares Ultra FinancialsEquity$906.27-3.63%67,234$123.162.42%
SDSProShares UltraShort S&P 500Equity$836.19-0.03%7,448,039$40.96-2.78%
TNADirexion Daily Small Cap Bull 3X SharesEquity$786.01-4.17%3,747,963$67.342.97%
JNUGDirexion Daily Junior Gold Miners Index Bull 3x SharesEquity$757.83-23.65%12,953,634$13.563.75%
SOXLDirexion Daily Semiconductor Bull 3x SharesEquity$741.1010.82%768,203$152.826.47%
UDOWProShares UltraPro Dow30Equity$605.89-9.94%1,597,216$84.784.05%
TECLDirexion Daily Technology Bull 3X SharesEquity$590.101.99%310,569$114.405.66%
FIEEUBS AG FI Enhanced Europe 50 ETNEquity$564.88-6.76%5,766$165.401.25%
SQQQProShares UltraPro Short QQQEquity$457.86-14.61%14,786,807$18.33-5.32%
LABUDirexion Daily S&P Biotech Bull 3x SharesEquity$449.792.00%1,243,863$79.412.41%
SPXUProShares UltraPro Short S&P 500Equity$448.68-1.53%14,763,021$11.17-4.20%
FFEUBarclays ETN+ FI Enhanced Europe 50 ETN Series CEquity$448.35N/AN/A$99.001.61%
DDMProShares Ultra Dow30Equity$440.24-5.54%507,531$124.642.85%
ERXDirexion Daily Energy Bull 3X SharesEquity$421.92-21.27%2,493,111$27.506.34%