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Old Chang Kee: Curry Times.

Wednesday, April 23, 2014

I have always wanted to try the Fried Laksa and the Ngo Hiang in Curry Times by Old Chang Kee. However, each time I walked past the outlet in Westgate, I would see a long queue and I really dislike waiting in queues. So, I would walk away.

Today, I got to Westgate a bit earlier in the evening and the restaurant was only half filled. I didn't have to queue. Lucky!

I didn't have to wait too long for them to serve me my orders. Thumbs up!

Fried Laksa:

Ngo Hiang:

Yummy! I like!

As I was tucking in, a queue formed outside the restaurant. Wow! That improved my appetite! Old Chang Kee is doing well!

Photo taken after I left the restaurant. It was about 6.45pm.

You know how we get mints from some restaurants after dinner? At Curry Times, we get some nice old fashioned biscuits. I really like the ones similar in size to 5 cent coins with the little coloured sugar tops. Diners get to help themselves to a cupful when they pay at the cashier!

See the big jar of colourful biscuits?
Click on the photo and see if they bring back memories.

I will have to bring my mom next time. I think she will like the Chendol.

Related post:
Old Chang Kee: Lessons from Mr. Han.

InvestX Congress 2014: AK's first public appearance.

Tuesday, April 22, 2014

By now, many probably know that I have agreed to be a guest speaker at a one day investment education event that is happening on 14 June 2014 (Saturday) in Suntec City. It is an event that is organised by a bunch of friends who formed a company called "The Fifth Person".

These same friends organised an event which I blogged about earlier and a guest blogger, Solace, did a review of it. I think it is safe to say that Solace was impressed. Well, the event on 14 June 2014 will likely be more impressive.

I know my friends managed to get a couple of industry professionals to be guest speakers as well. So, apart from what you see in the marketing material, you are likely to get some bonuses on the day of the event.

Price of ticket? $99 per person. However, early birds pay $79 per person. This special offer is good till 21 May 2014.

Now, I know that probably quite a few readers will want to go to the event because I am going to be a guest speaker. If that is your motivation for going to the event, please consider not going. Why? The reason is quite simple.

I won't be saying anything you have not heard me said in my blog for the last 4 and a half years. I would be surprised if you have not grown tired of me repeating myself once every so often.

I will, however, tell you why you should go to the event.

You should go to the event to listen to Victor Chng and Rusmin Ang, two brilliant young minds. Those stocks listed in the marketing material are not just stocks that they picked out to show how well we could have done on hindsight. They actually invested in those stocks after doing thorough due diligence earlier on and if you were to listen to them, you would be impressed and, more importantly, enlightened.

You should go to the event to listen to industry professionals. I cannot reveal too much at this point but I think it will be a fun and rewarding experience no matter your level of accomplishment as an investor. Ok, to be fair, I feel that if you are already a very accomplished investor, you might find the event dull at times (mostly during AK's segment).

Finally, you want to go to the event to help raise funds for charity. Yes, a meaningful percentage of the proceeds will go to a charity. My friends know that I have a soft spot for Singapore Children Society and I hope that the donation will go to the charity of my choice. (I am being sneaky because the recipient has not been decided yet. Hey, guys! I win!)

I believe that this is going to be a value for money event. So, if you have the time and $79 to spare, block the 14th of June and reserve your place. It is not a big event like the one I blogged about earlier this year in Kallang Theatre which sat 1,200 people. For this event, there are only 400 seats available. So, if you decide that you want to attend, don't wait too long to get your ticket.

Get your early bird ticket at: InvestX Congress 2014.

Now, I will have to decide on a disguise.

P.S. Supporting this event could indirectly raise the profile of Suntec City Convention Centre which could benefit Suntec REIT. This could benefit the writer who has been a Suntec REIT shareholder since 2009. OK, now, you have been warned.

Related post:
Tea with Solace: A review.

AIMS AMP Capital Industrial REIT: $1.425.

Monday, April 21, 2014

There is no accounting for Mr. Market's behaviour and the recent strength in the unit price of AIMS AMP Capital Industrial REIT is, to me, inexplicable.

At a pre-rights unit price of $1.415, the REIT was trading at a discount to NAV which was at $1.52 per unit. Post rights, however, the NAV is closer to $1.29 a unit. So, the recent high of $1.43 is actually a 10.85% premium to NAV.

Of course, with the funds raised from the rights issue not being used for yield accretive purposes, I also expect a 15% dilution to DPU in the near term. Not very supportive of a higher unit price, wouldn't you say? Eventually, DPU should recover but probably not to the pre-rights level and not in a jiffy.

Having given due consideration to all the above reasons, I decided to reduce the size of my long position in the REIT which is now larger after the recent rights issue. How big was the divestment? Not a big one but a rather small 14% or so. Who knows? Unit price could go higher.

The units divested are those I bought in late 2009 and mid 2010. Time really flies.

I estimate the return on investment, including income distributions over the years, to be about 17% to 18% per annum.

With this divestment, I have taken back the money I used to participate in the recent rights issue (at $1.08 per rights unit) and a bit more. A bit more? With a theoretical ex-rights price (TERP) of $1.365 then, it means that my partial divestment has a nice little capital gain to boot.

After this, my war chest will be beefed up but, everything else remaining equal, my passive income from S-REITs this year will be lower. I will have to wait patiently for opportunities.

Post recent rights issue, NAV/unit should be about $1.45. A thousand apologies. My brain no good. Thanks to Louis and Capricon for the nudge. So, it means that at $1.43, there is still a 1.5% discount to NAV.

Related posts:
AIMS AMP Capital Industrial REIT: Rights.
AIMS AMP Capital Industrial REIT: Good price?

Save money by having restaurant quality ramen at home!

Saturday, April 19, 2014

This blog post is dedicated to a kindred spirit, SMOL.

I love eating Japanese style ramen. A bowl with hot soup is to die for.

However, it is not cheap to have a bowl of Japanese style ramen in Singapore and I am sure a huge portion of what we pay goes to rents and salaries. This is especially obvious when I found that I could have 4 bowls of restaurant quality ramen for only $3.85. Yes, not 1 but 4 bowls!

They come in packs of 4. There are 2 flavours. I prefer this one.

Recently, I bought more because there was a special offer in NTUC Fairprice. $3.35 per pack of 4.

Here is AK in action:

I tried this flavour for dinner recently.

Cook for 4 minutes, stirring often. Then, turn off the fire and add seasoning. Mix well.

Restaurant quality ramen at less than $1 a bowl. Really, really good!

If you are thinking of going out for a bowl of good quality ramen at Ajisen Ramen, for example, think again.

Think of how much money you could save by cooking at home. The taste of this instant ramen is really authentic and the money you save is very real too.

If you like ramen but have always hated instant noodles, this will change your mind. I am sure.

Oishi and in more ways than one too!

Related posts:
1. Korean noodles for lunch.
2. AK brand cup ramen!

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