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(30-03-2021, 09:31 PM)karlmarx Wrote: (29-03-2021, 09:16 AM)weijian Wrote: By the way, welcome back Karlmarx.
Thank you Weijian.
I hope to write more but good ideas are just so hard to come by. And the world is moving much faster than I can comprehend. I think VB needs more new blood to write about tech stocks and the like.
Suddenly, this reminds me of the WallStraits days.
VB discussion board is missing Curtis, D.O.G and many others who used to write so many thoughtful and reflective pieces.
Haiyah, the nostalgia...
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(30-03-2021, 09:20 PM)karlmarx Wrote: Sometimes you make money when your reasoning is correct/sound, but sometimes you don't.
Sometimes you also make money when your reasoning is incorrect/unsound, but also sometimes you don't.
Welcome back karlmarx !
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(31-03-2021, 01:23 PM)jaco Wrote: (30-03-2021, 09:20 PM)karlmarx Wrote: Sometimes you make money when your reasoning is correct/sound, but sometimes you don't.
Sometimes you also make money when your reasoning is incorrect/unsound, but also sometimes you don't.
Welcome back karlmarx !
Thank you Jaco.
Yes, that's the idea I was trying to put across.
Because value investing involves a long gestation period, it is hard to tell if an investor truly has the midas touch, or is really just blessed with 'dumb luck.'
Talking heads and social media gurus of varying popularity emerge from time to time. But few can truly stand the test of time. Possibly because their initial success was just 'dumb luck.' Recall WB's national coin flipping contest analogy.
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31-03-2021, 08:13 PM
(This post was last modified: 31-03-2021, 08:13 PM by karlmarx.)
(31-03-2021, 10:46 AM)ongweehiang Wrote: Suddenly, this reminds me of the WallStraits days.
VB discussion board is missing Curtis, D.O.G and many others who used to write so many thoughtful and reflective pieces.
Haiyah, the nostalgia...
There are very many smart people around, some are still very active like ghchua, but most don't share very often. Because really, there's nothing in it for them. So I'm thankful that at least we have had such generous people (in the past).
The new generation of investors post their analyses on their blogs, or websites like seekingalpha, where they can monetise their content. Some of the blogs covering local stocks are quite decent, but they generally don't add much research value/insight if you are already well-acquainted with the stocks, and do your own research/analysis.
Hopefully VB will have more generous writers in time to come!
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27-04-2021, 02:51 PM
(This post was last modified: 27-04-2021, 02:52 PM by weijian.)
For Straco, I thought the most interesting portion is the amount of cash (and its ability to leverage up) it has, and how it is going to use them.
Will it be used for acquisitions? OR for them to continue to buy back shares (on the cheap) and then issue it to their own family?
Looking at the manner of the acquisition in the previous years (ie. Spore Flyer), we are probably well versed in how conservative the chairman is - some credible asset that is distressed and able to immediately accrete to cashflow by making minor changes.
I would argue that the biggest optionality for Straco is really how it uses its cash to grow its topline.
RESPONSE TO QUESTIONS FROM SIAS AND SUBSTANTIAL AND RELEVANT QUESTIONS RECEIVED FROM SHAREHOLDERS FOR THE ANNUAL GENERAL MEETING TO BE HELD ON 27 APRIL 2021
Were there opportunities to acquire other assets on an opportunistic basis?
The company continues to be proactive in its growth strategy in seeking earning accretive projects that offer exceptional
value with strong potential and limited risks. We have considered a few, but none were assessed to be worth pursuing further.
https://links.sgx.com/FileOpen/Straco-AG...eID=662546
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15-05-2021, 09:54 AM
Straco @ 31 Mar 2021
Rev S$8m (vs 3m)
GP S$19k (vs -3m)
Net Loss S$0.5m (vs 3.3m)
unlike 1Q2020 where the Group’s operations faced varying periods of closure due to the COVID-19 pandemic, no disruptions were experienced, albeit operating at reduced capacity this year.
Despite the first quarter losses, the Group’s financial position remains strong with net cash holdings of $156.9 million as at 31 March 2021. The Group will continue with its prudent cash management practices and will be well placed to ride out this challenging period.
The Group will continue with the various cost cutting and cost containment measures while at the same time take cognizance of the need to look after the well-being and welfare of its workforce. As the global COVID-19 situation remains uncertain, the Group will continue to monitor and assess the impact on its operations.
https://links.sgx.com/FileOpen/Straco-Bu...eID=666416
Gratitude.
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(27-04-2021, 02:51 PM)weijian Wrote: For Straco, I thought the most interesting portion is the amount of cash (and its ability to leverage up) it has, and how it is going to use them.
Will it be used for acquisitions? OR for them to continue to buy back shares (on the cheap) and then issue it to their own family?
Looking at the manner of the acquisition in the previous years (ie. Spore Flyer), we are probably well versed in how conservative the chairman is - some credible asset that is distressed and able to immediately accrete to cashflow by making minor changes.
I would argue that the biggest optionality for Straco is really how it uses its cash to grow its topline.
RESPONSE TO QUESTIONS FROM SIAS AND SUBSTANTIAL AND RELEVANT QUESTIONS RECEIVED FROM SHAREHOLDERS FOR THE ANNUAL GENERAL MEETING TO BE HELD ON 27 APRIL 2021
Were there opportunities to acquire other assets on an opportunistic basis?
The company continues to be proactive in its growth strategy in seeking earning accretive projects that offer exceptional
value with strong potential and limited risks. We have considered a few, but none were assessed to be worth pursuing further.
https://links.sgx.com/FileOpen/Straco-AG...eID=662546
The amount of shares they can buyback is very limited due to SGX restriction on float size.
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15-08-2021, 10:44 AM
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The recovery looks impressive initially, until I realize that 10m of the other income comes from insurance payout which is not recurring.
"Taking away the arbitration award and exchange gains recorded, profit before tax for this period would have been approximately $3.09 million."
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29-08-2021, 07:28 PM
(This post was last modified: 29-08-2021, 07:28 PM by weijian.)
Straco's flagship attraction, SOA has been on a downward path before Covid-19. Unless, there are 2nd order effects from the impact of Covid-19 that benefits SOA's business landscape and proposition (which I do not know of, and should have been clear by now if there was any), or else my suspect is that SOA's performance (and hence Straco) will not recover to pre-Covid 19 levels
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