Overseas Education: Learning to earnings

Overseas Education Limited (OEL) is a pandemic recovery play. I bought shares after a friend told me about their big jump in school fees received in advance (“deferred revenue” for the software bros). OEL operates the Overseas Family School (OFS) in Singapore and educates the children of expatriates working in Singapore aged 2 to 18 …

HRnet 1H21 results: Still anti-fragile

HRnet reported great results for the first half of 2021. HRnet’s revenue, gross profit and net profit reached a record high in the first half of 2021 because of a big jump in flexible staffing and professional recruitment revenue. Source: HRnet 1H21 results presentation Here are the key points for HRnet’s 1H21 results: Revenue was …

HRNet: Almost antifragile

“Antifragile” as defined by Nassim Taleb refers to something which gets stronger during disorder. I think HRNet almost fits this description so I bought more HRNet shares after the company reported surprisingly resilient 2020 results. Healthy flexible staffing business resulted in revenue growing 2% and recurring net profit falling 4% during 2020 while operating cash …

Stock picking criteria

Choosing winners is hard. So I came up with a stock picking checklist based on my past mistakes to see if I can improve my stock picking skills. My strategy involves picking two categories of stocks: “Compounders” and “Deep value”. “Compounders” are stocks which can increase their earnings over the long term. Holding such stocks …

Selling Kingsmen

I have sold half my Kingsmen shares and may eventually sell the other half so I won't be including Kingsmen in my scorecard for consistency. Kingsmen reported fourth quarter 2019 results this week and the results suggest that my thesis was wrong for a few reasons. First, NERF did not drive revenue growth. I was …

TripAdvisor: Huge travel platform trading at 9% free cash flow yield

I normally don't write about US companies but TripAdvisor (TRIP) was too cheap to resist. TripAdvisor recently paid its first ever dividend, (USD3.50 special dividend) so there's a chance the company could pay dividends in the future. TripAdvisor is currently one of the bigger positions in my portfolio. TripAdvisor is a travel research platform which allows …

Kingsmen: NERF Marina Square

I wrote this note on InvestingNote last week. Pricing for the Nerf Marina Square attraction is out! My initial reactions: Average pricing $23 to $39 per entry Lower end is meant for off peak (Monday to Thursday sessions) and NERF groups who just need an obstacle course for their group games. Kingsmen is also catering …

Kingsmen: NERF matters

Kingsmen's plan to develop NERF attractions is one of the key reasons why I invested in this company so I wanted to share what I learned during the 2018 annual general meeting. The total investment in NERF Marina Square is expected to be around SGD5 million so Kingmen can survive the hit even  if this …

Kingsmen: Growing with the IRs

Kingsmen’s share price was up 7% this week on news involving a SGD9 billion expansion of the two integrated resorts (IRs) in Singapore. Universal Studios Singapore will be adding more attractions and Kingsmen should be well positioned to win some work as they have done SGD100 million of work on the existing theme park which …

Kingsmen: Keep calm and wait for Jewel

Azure Capital has noticed Kingsmen. Check out Terence Wong’s post on IN. 2019 will be a big year for Kingsmen. Kingsmen’s Retail and Interiors segment could get a boost from the opening of Jewel Changi Airport (280 shops and restaurants) in April 2019. This segment’s 2018 pretax earnings is already up 90% year on year …