Category: Fifth Person

Why you shouldn’t use the P/E ratio to value every stock

‘To a man with a hammer, everything looks like a nail.’ – Mark Twain We cannot use a single valuation method (the hammer) to determine the worth of every stock (the nail). Companies in different industries have their own unique set of characteristics. Using the same ruler to measure the performances of all companies out …

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7 things to know about Mapletree Logistics Trust’s $1.1 billion acquisition in China, Malaysia, and Vietnam

Mapletree Logistics Trust (MLT) is a REIT that owns a diversified portfolio of logistic properties located in Singapore and across the Asia-Pacific. As of 30 September 2020, the value of MLT’s assets under management (AUM) was S$9.0 billion. In October, MLT announced its intention to acquire the remaining 50% stakes in 15 logistics properties in …

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Tencent’s business model: How Tencent makes money

Founded in 1994, Tencent connects over one billion users through its communications and social platforms, namely Weixin and QQ. Since its founding, Tencent has found new income streams including high-performance advertising, gaming, digital content, and fintech services. As of 23 November 2020, Tencent’s market capitalisation stood at HK$5.6 trillion. In this article, I’ll summarise Tencent’s …

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8 things I learned from the 2020 AirAsia Group AGM

The International Air Transport Association described 2020 as the ‘worst year in the history of aviation’. Airlines are estimated to lose US$84.3 billion altogether this year as international borders close and countries lock down to curb the spread of COVID-19. In Malaysia, AirAsia Group was also not spared and hit the news headlines for not so …

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7 things I learned from the 2020 Starhill Global REIT AGM

Starhill Global REIT (SG REIT) is a retail/office REIT that owns 10 properties in Singapore, Malaysia, China, Japan, and Australia. Its largest assets are Wisma Atria and Ngee Ann City which are located along the prime Orchard Road shopping belt. As of 30 June 2020, SG REIT’s properties were valued at S$2.9 billion. SG REIT …

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6 things I learned from the 2020 QL Resources AGM

Listed in 2000 on Bursa Malaysia, QL Resources is an agri-food producer with operations across Malaysia, Indonesia, Vietnam, and China. It is involved in marine products manufacturing (MPM), integrated livestock farming (ILF), and palm oil activities. It is, however, more well-known for its FamilyMart convenience store chain in Malaysia although it is just a small …

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Interactive Brokers’ business model: How Interactive Brokers makes money

In September 2019, Interactive Brokers introduced IBKR Lite, a zero-commission trading platform. Other trading platforms like Charles Schwab, TD Ameritrade, E-Trade, and many others followed suit. But how does a brokerage business survive without commissions? What’s the catch here? In this article, we will analyze Interactive Brokers business model to find out more. Business model …

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5 things I learned from the 2020 LITRAK AGM

Lingkaran Trans Kota Holdings Berhad (LITRAK) operates and maintains two tolled highways — Lebuhraya Damansara-Puchong (LDP) and Western Kuala Lumpur Traffic Dispersal Scheme (SPRINT Highway — in Klang Valley. Highway concession businesses are not spared by the COVID-19 pandemic as we spend more time at home. As the concessions of these two highways will expire between …

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7 things I learned from the 2020 Lendlease Global Commercial REIT AGM

Lendlease Global Commercial REIT (LREIT) is a relatively new REIT that listed on the SGX in October 2019. At the moment, the REIT owns just two properties in its portfolio – 313@somerset, a prime mall in Singapore; and Sky Complex, a property comprising three grade-A office buildings in Milan, Italy. As of 30 June 2020, …

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5 things I learned from the 2020 Sunway REIT AGM and EGM

Sunway REIT is a diversified REIT with a focus on retail malls. It owns 17 assets from the retail, hotel, office, services, and industrial sectors in Klang Valley, Penang, and Perak. The majority of its assets are concentrated in Sunway City in Selangor. Its total property value stood at RM8.0 billion as of June 2020. …

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