Lone wolf investor

  (Source: Thai Beverage PCL presentation slide) After having a quick look at the results. It was a mixed bag. There are a couple of positive and negatives from my observation. Negatives 1.) The biggest negative is the fall in profit for the spirit business which is the biggest segment of Thai Beverage business due to the weak economy. 2.) On hindsight, the share swap last year was slightly more advantageous for TCC given the better profit momentum in Fraser Property Ltd compared to the flat earnings’ growth of F&N. The merit of a valuation uplift as a pure f&b for Thai Beverage from the share swap has failed to materialise so far. Thai Bev is still trading close to 2 standard deviation below its average valuation. Positives 1.) The beer business is showing signs of improvement with profit and margin expansion. The lower raw material costs have helped improve margin. Lower input cost is likely to continue for at least a few quarters. 2.) The improvement to beer unit’s profi...

  (Source: MAS) There was an ever slight uptick, 0.02%, in yield for Dec issued SSBs. First year yield of 1.35% is higher than most savings accounts. The current SSBs is suitable for someone who requires access to liquidity within the next 6 to 12 months. It is poor returns to hold the SSBs for 10 years. The current 10-year yield barely beats inflation, a poor storage for money. The closing date for the current SSBs fall on the 25th Nov 2025@9pm. God Bless. Please consider following us on telegram for the latest update on Lone Wolf investor by clicking on the link below. No form filling, no payment required, no collection of data, no data mining, no hard selling, no obligation.  https://t.me/joinchat/oCgkD3sQFRMzMWM1 Disclaimers   All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make indepe...

  (Image credit: Fu Yu Corporation) The below article is for educational purposes only. Kindly refrain from taking any action. It shouldn’t constitute as an investment advice. Please read the disclaimer . I have taken an initial interest in the company. As most people who know me, I don’t quite like manufacturing companies, but the profitable trade in Valuetronic previously whipped up my appetite for more investment in manufacturing stocks. The company is struggling with boardroom issues. What is attractive to me is the net cash in its balance sheet. They have 6.4c in cash, which represents 64% of the current market cap. The company is also trading at a 43% discount to book value.  There are signs the company is turning around. The losses this year are mainly attributed to one-off charges. They are profitable without those one-off expenses. This year one-off expenses amounted to $8.1m. There is likely to be another $2m contingency payment to the ex-CEO if he won his lawsuits a...

  (Contents) The Price of Being Fair -The FairPrice Group Story by Sue-Ann Chia and Peh Shing Huei mentioned FairPrice Group was founded more than 50 years ago in 1973 to combat runaway inflation. The other mission was to attract more members to join the NTUC union with discounts for its affiliated businesses and services.  Our visionary Prime Minister, Lee Kwan Yew, had envisaged FairPrice, formerly known as NTUC Welcome, to moderate the cost of living in the 70s when the oil crisis struck, pushing basic staples and other necessities like rice and sugar to beyond what the masses could afford. In the 70s, Singapore is nothing like what we know now. The majority of the population are living close to the poverty line.  The mission is simple. FairPrice will source for cheaper rice and sugar far and wide by cutting away the middleman. It had an immediate impact on clamping down on widespread profiteering. Private grocers have to lower their price to meet the competition from...

  The below article is for educational purposes only. Kindly refrain from taking any action. It shouldn’t constitute as an investment advice. Please read the disclaimer . The headline looks good with a 22% growth in net profit in 3Q, but there is always a but somewhere. The extraordinary gain from the disposal of a depot in Victoria helped do the heavy lifting. If you stripped out the gain, operating earnings were flat in Q3. I have decided to sell the shares. The results failed to meet expectations. The $870m acquisitions over the past 2 years did very little to bring in the desired boost to CDG’s profit. The balance sheet is more leveraged compare to 2024. Gearing is now just under 20% from last year’s net cash position. My suspicion that Addison Lee and A2B underperformed in 3Q even though individual units performance were not disclosed in the Q3 update. I wish the good people at CDG all the best. LWF made 2c, enough to cover brokerage fees and some lunches. LWF doesn’t hold CDG...

  The below article is for educational purpose only. Kindly refrain from taking any action. It shouldn’t constitute as an investment advice. Please read the disclaimer . In the name of transparency, I declare of having a position in Thai Beverage PCL at current price as at today. I am still trying to size my position. After the run up in Wilmar and Genting SP which are part of the group of trio underperforming the STI Index. I am unwilling to let Thai Beverage slip away from my fingers since I have been following the stock very closely. The alcohol ban seems to have little impact on the stock price. The stock is trading within the tight range of 46-48c. Please don’t follow. My position can reversed as fast as I bought it. God Bless. Please consider following us on telegram for the latest update on Lone Wolf investor by clicking on the link below. No form filling, no payment required, no collection of data, no data mining, no hard selling, no obligation.  https://t.me/joinchat/...

  The confusion surrounding Thailand ban on alcohol sales during 2pm to 5pm is causing uncertainty to business operators in the F&B and tourism sector. I suspect this might just be a passing issue, but I can’t ignore the effect on alcohol consumption in the short term. It is a law that scored an own goal to Thailand already sluggish economy, marked by falling tourist numbers. More details at the end of the month portfolio update. Brokerage fees will be accounted at the end of month returns. God Bless. *My deeper worry is for retailer and f&b to shorten the sales hour by another 1 or 2 hours before 2pm which effective cuts the selling hours by up to 5 hours. The law is directed at individuals which are subjected to USD $300 fines if caught breaking the rule. Retailers and drinkers of alcohol are likely to be more cautious so as not to break the law of selling or drinking within the restricted hours. The previous law focused more on the sales side of things, with consumers la...

  (The art deco frontage of the shophouse) (Very well thought mission statement) For the past few weeks, I have been meeting friends for breakfasts and lunches at Temasek Shophouse. Temasek Shophouse is owned by Temasek Trust which is the philanthropic arm of our sovereign wealth fund. The impact hub gathers change makers in the area of social enterprises and social services. It provides a space for strengthening relationships, fostering collaborations and catalysing solutions for a positive impact on social development.  (The main hall) Upon stepping into the building, I feel special walking into the space. It was all peaceful and quiet in the morning. It is an oasis in the heart of Orchard. The newly renovated building maintains the old charm. What the architect did was to install modern amenities. There is a huge hall, great for hosting events. (Event space for lease) Guests can order a coffee from Foreword to enjoy the space at their own time. Tables and chairs are availab...