My Singapore Research Trip

21 Oct 2019

Dear Fellow Investor,

Singapore Research Trip

We visited Singapore last week and met the Phillip Securities research analysts to review our Singapore portfolios.  They could find no issues with the shares we are holding. We have focused on value shares/ REITS/banks and utilities  that pay dividends.

There is a marked slowdown in the Singapore retail sector. High end shops in Orchard Row are suffering as customer traffic has fallen  The clerks in the massive Takashima department store have sad looks on their faces as business is very slow. There were no lines to check out in the Kinakunia book shop.  Usually there are long lines to pay.

The only business on Orchard Row that was doing well was the Apple store. It was full of customers. These were paying customers as most of those walking out of the store had Apple shopping bags.  

On Saturday we attended the last meeting of Motley Fool Singapore.  They have provided excellent stock research for the last 7 years and their model portfolios have outperformed the SGX.

Davis Kho, the CEO of Motley  Fool in his farewell address made the case for cash becoming worthless over time and why we need to hold income producing assets.  This has always been our focus.

David Kuo who spent much of his life in  Hong Kong  explained why Hong Kong will return to normal and that the crises will pass.  China needs Hong Kong to remain a financial center with rule of law and HK dollar convertibility and will not bring in the PLA.  He mentioned that even with the riots the HKSE has not collapsed and has stabilized at current levels.

Singapore just lowered rates and the economy is stabilizing. Well located properties are attracting buyers.  Tourism is picking up but these tourists are careful spenders.  

On Sunday we visited the national museum and they have introduced many interactive exhibits including a nature show that takes you through a jungle, a rain forest and mountain scenery. The animals including sun bears, tapirs, and hornbills seem real.

Invest well and grow your wealth

Bill

Critter of the week is a mountain lion from the National Museum of Singapore