Lone wolf investor

(Directors in good spirits) 10 things you need to know about Haw Par Corporation AGM held on 25 April 2023. 1.) The AGM was held physically for the first time in 3 years after Covid at the Grand Ballroom, Plaza Parkroyal Hotel. 2.) I estimated there were at least 150 shareholders in attendance which is quite impressive given there are only 222m outstanding shares unfortunately the Chairman, Dr. Wee was absent for the AGM on the advice of the doctor. 3.) No food is available after the meeting, a big disappointment for those annual general “makaners”. Although there is no food, shareholders were given a goodie bag that comprise Tiger balm, Mosquito repellent patch and Tiger Balm Plaster. (Great for stomach pain, mosquito bite and back pain) 4.) The company was asked about its expansion plan. Going to Africa which Tiger balm doesn’t have a foothold is a possibility given the huge market for Tiger Balm products. CEO mentioning about the need to build up distribution network before thing ca

Liu Kang Singapore 1911-2004 On Guard, Ipoh circa 1940s Gift of the Artist’s Family Collection of National Gallery Singapore    Market Summary 17-23 Apr 2023 🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸 - Republicans will propose to either lift federal borrowing limit by US$1.5 trillion or suspend debt ceiling until Mar 2024  - US unprecedented rules limiting investments in China are expected later this mth   - US inflation still too high, Fed will act to lower it: Fed’s Williams Bank of NY + Fed likely to hike rates 1 more time and then hold steady: Bostic; Atlanta Fed Reverse  - Yellen warned any effort to decouple the economies of US and China would be disastrous for both countries and destabilising for the world  - US house speaker McCarthy called for spending caps to raise US debt ceiling  + Biden plans to slash planet-warming pollution from power plants  + Robert Kennedy Jr officially announced he will run for president of US next year  + US 10-year and 2-year Treasury yield reached heights not seen

  AGM is the best time for asking questions. It is the only time of the year for the shareholders to put their board of directors and CEO to the test with some questions, some difficult one can throw them off course. It is also the only time of the year to make your board of directors and ceo work for their money. Haha. Here are my questions to Haw Par Corporation. Sometime I might just throw them a hard one to spice up the AGM. Management replies are in green.  1.)  There is an outstanding borrowing of $28.5m, why is there a need to borrow given the strong financial status of the Company and the high interest cost environment? Management made a strategic decision to partially hedge the foreign currency exposure of the long term investments that were purchased in 2022 and the foreign currency denominated borrowing of S$28.5m is used to achieve this objective. 2.) Are there plans to redevelop those properties which are underperforming? Save for our office building in Kuala Lumpur, the G

  (Edward Boustead, The founder of Boustead & Co in 1828 which the current company took its name from) This is my update report on Boustead Projects, now under Boustead Singapore. First and foremost, Just to set the tone for my discussion, Boustead Singapore is a decent company. I have invested in Boustead Singapore or Boustead Projects periodically during my career as a broker or as a retailer investor after I left the industry 9 years ago. First the background, my latest involvement in Boustead Singapore came from selling Boustead Projects shares for Boustead Singapore shares amid the takeover offer for Boustead Projects so as to continue my investment journey with Boustead Projects via Boustead Singapore. Confusing? Please read my previous blog . I am back this month to discuss an important document which was released to the shareholders of Boustead Projects in conjunction with the takeover offer. If the offeror spent million to have the offer document written, I am pretty sure

 Lee Wen Singapore 1957-2019 Splash circa 2003 Collection of Singapore Art Museum  Market Summary 10-16 Apr 2023 🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸 + US inflation rose 0.1% in Mar and 5% from a year ago, lowest level since May 2021  - US retail sales down 1% in Mar from Feb, sharper decline then 0.2% fall in Feb   + Fed unlikely to raise interest rates in Jun: Goldman Sachs  - US public debt will continue to rise in coming years amid increased govt borrowing: IMF  - US debt-to-GDP ratio projected to be 122.2% this year, expected to rise further to 136.2% of GDP in 2028 - US banks may tighten lending further and negate need for more rate hikes: Yellen   - US regulator called for greater scrutiny of hedge funds after govt bond turmoil last mth  - Dollar headed for longest stretch of weekly losses in almost 3 years  - JPMorgan, Wells Fargo and BoA have lost US$521bn in deposits over past year, drop reach US$61bn inQ1: banking analysts + US crude oil inventories rose by 600,000 barrels to 470.5m + J

I am surprised the current May issue SSBs still retain a yield of more than 3%. We might be seeing the last of the 3% SSBs reflecting a potential pivoting by the Fed on rate hiking cycle in May. The yield for next month SSBs is likely to be much lower as SGS 10 years bond yield is struggling to hold onto 2.7%. The current issue is characterised by a flat yield curve for the next 7 years at 3.03%, follow by a slight uptick in yield towards the till end of the bond. The close of application is on the 25th April. Good luck to those applying. God bless.  Please follow us on telegram for the latest update on Lone Wolf investor by clicking on the link below  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 independent investigations before acting on inf

  (The colourful HDB blocks give Circuit Road estate a distinctive look) Today Lone Wolf is exploring Circuit Road Hawker Centre. A bit of history on Circuit Road, the road got its name from the road that circle around the HDB blocks which was built in the 60s to house victims of the deadly Bukit Ho Swee fire that wiped out the whole estate in 1961 which left 16,000 homeless.   (The longest Hawker Centre in Singapore stretching more than 100m) I find the estate alluring as it retains the old charm of early HDB living. The elongated hawker centre stretching more than 100m must be the longest hawker centre in Singapore. The hawker centre is a short walk from Mattar MRT Station along DTL. I managed to find a few delicious gems in the hawker centre.  Ghim Guan Fried Oyster(#01-60) One can always get a sense of the popularity of this Fried Oysters by the endless decks of eggs stacking up high in front of the stall. The Fried Oyster is one of the nicer one I had recently. The Oysters are big