Fu Yu - Slow & Steady

Fu Yu caught my attention while i was looking at the chart.
From TA perspective, Fu Yu definitely shows some positive momentum in going Northwards, somewhat since 10 years ago.

From financial perspective, in dec 2018, they maintained the group revenue of around $190+ mil for the past 3 years. While gross profit margin increases gradually.

The best part is they have zero debt.

Fraser Property

Recently Fraser Property caught my attention because of their NAV.

However, I also look out for, minimally:

1. Total Revenue
2. Net Debt to Equity Ratio

Their Total Revenue is quite promising. Growing YoY.

But the Net Debt to Equity Ratio is on the higher end compared to Capitaland.

Meanwhile Capitaland:

Would you buy Fraser Property?

Good buy?

Or Good bye?

Katrina Group - Food for Thought

Katrina Group

Facts:

• Founded in 1995
• Owned and operate 39 restaurants/cafe in Singapore, 1 in China
• Namely: SoPho, Honguo, Streats, Bali Thai, Muchos, Indobox, RENNthai, Hutong food and Bayang.

You might have seen some of the above restaurants in shopping malls.
Just like below.

Noticed the restaurants were rather empty most of the time.
Can they make money?

Taking a look at their latest Income Statement, the net profit dropped 72.9% compared a year ago.

Perhaps give it sometime to gain popularity?
I tried SoPho noodles before, not bad tho.

BreadTalk - One of the best bakery in town

During weekends when we shop in shopping malls, typically we dine-in, and buy bread for tomorrow breakfast.

We all heard of BreadTalk and Din Tai Fung, which are part of the BreadTalk Group business.

Look at the Din Tai Fung crowd.
Suntec outlet would be even more crazy.

So for the recent announcement on Feb 2019 by BreadTalk Group, these are some of the highlights:

• Total revenue increased by 1.7% yoy.
• Expanded its Din Tai Fung business into United Kingdom the first time.
• Deepened market penetration in Thailand.
• Strengthened presence in China.
• Re-entered markets like India, Indonesia and Malaysia with new strategic partners.

Starhub dividends reduced

Businesstimes posted that StarHub is slashing its dividends for 2019, while earnings for 2018 fell below street forecasts. The telco is switching from a fixed to a variable dividend policy from 2019, and will distribute at least 80 per cent of net profit each year. It intends to pay a quarterly cash dividend of at least 2.25 Singapore cents per share for the 2019 financial year, down from four cents per quarter in 2018.

I do have shares with Starhub, thinking whether to sell it off or to keep. No point holding for dividends since the amount is reducing.

Starhub Q4 Performance

The recent results for Starhub seems disappointing.

In short, below shows the FY19 Outlook.

Final Dividend of 4cents will be paid in May 2019.

I believe there is a need to be patient if you want to invest in Starhub.

-------------------------------------------------------------------------------------

Maybank KE retail Research on Starhub (15 Feb 2019)

• 4Q18 net profit slumped 61.8% to $19.8m, knocking FY18 earnings to $201.5 (-26.2%) or 8.7% below consensus forecast.
• Revenue for the quarter fell 9.8% to $619.5m as improvement in enterprise fixed (+12%) was eclipsed by weakness across mobile (-13.7%), Pay TV (-19.1%), broadband (-3.1%) and sale of equipment (-17.3%).
• Mobile post-paid ARPU slid to $41 (-10.9% y/y, -6.8% q/q), while that for pay-TV stabilised to $48 (-5.9% q/q, +2.1% q/q).
• Subscriber bases for both mobile both mobile (-5%) and pay-TV (-10.7%) continued to shrink.
• Service EBITDA margin narrowed 1.8ppt to 23.1% (3Q18: 28.8%), dragged by losses from Ensign and D’Crypt, higher provision for customer loyalty programmes, provision for leasing contract relating to migration of cable network and one-time accounting adjustments for handset sales.
• Guided for -2% to flat service revenue for FY19 and EBITDA margin of 26-28% amid intensifying competition with launch of contract-free SIM-only plans.
• Kept final DPS of 4¢, taking full-year payout to 16¢ (unch) but flagged a much reduced DPS of at least 9¢ for FY19, implying 4.7% yield.
• Remove StarHub from Market Insight Yield basket as dividend yield is no longer compelling amid a competitive operating landscape.