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Marvel's The Avengers!

Thursday, May 3, 2012

I wanna watch this!




Marvel Studios presents “Marvel’s The Avengers”—the Super Hero team up of a lifetime, featuring iconic Marvel Super Heroes Iron Man, The Incredible Hulk, Thor, Captain America, Hawkeye and Black Widow.

When an unexpected enemy emerges that threatens global safety and security, Nick Fury, Director of the international peacekeeping agency known as S.H.I.E.L.D., finds himself in need of a team to pull the world back from the brink of disaster. Spanning the globe, a daring recruitment effort begins.

Starring Robert Downey Jr., Chris Evans, Mark Ruffalo, Chris Hemsworth, Scarlett Johansson, Jeremy Renner and Samuel L. Jackson, and directed by Joss Whedon, “Marvel’s The Avengers” is based on the ever-popular Marvel comic book series “The Avengers,” first published in 1963 and a comics institution ever since.


Prepare yourself for an exciting movie, packed with action and spectacular special effects, when “Marvel’s The Avengers” assemble in 1 May 2012!

Check out "Marvel's The Avengers" Official Facebook page and play
Marvel's The Avengers Online Game Slider Puzzle: here.

Win over S$30,000 worth of cash and prizes with BRAND’S®

Tuesday, May 1, 2012

The theme for BRAND’S® Essence of Chicken’s 2012 Campaign is “Stay Switched On, Stay Open to Opportunities” which is charmingly relatable to consumers who may not have been paying attention to the little clues that caused them to miss out on one of life’s opportunities no matter how small e.g. missing out on a parking space or a chance at a dream job.

BRAND’S® wants to reward its consumers for staying switched on and staying open to life’s opportunities!

From 16 April to 31 May 2012 the BRAND’S® “Stay Switched On, Stay Open To Opportunities” Campaign will give consumers exciting chances to win over S$30,000 worth of cash and attractive prizes just by spotting and sending in the 8-digit code on the promotion pack.



The BRAND’S® Essence of Chicken “Stay Switched On, Stay Open To Opportunities” 2012 Promotion Pack retails at S$18.95 (6 x 68ml bottles) at leading supermarkets, hypermarkets, personal care stores and major pharmacies and all general retailers.

Find out how you could be a winner too:
Stay Switched On, Stay Open To Opportunities!

LMIR: 1Q 2012 DPU 0.69c.

Monday, April 30, 2012

I remember saying that LMIR was too cheap to sell in December last year. It was trading at 36.5c a unit then.



I also remember saying that unitholders should be more patient after the rights issue because the REIT's DPU would bump up in time. The rather low DPU of 0.53c for 4Q 2011 would not be the norm. I estimated the norm to be a DPU of 0.815c per quarter or 3.26c per year. In fact, quarterly DPU could surprise on the upside in time.

LMIR announced a higher DPU for 1Q 2012 as expected but the quantum of 0.69c is lower than the 0.815c I estimated. Is the management taking too long to deliver the goods, post rights issue?

I have, of course, questioned the quality of the management a few times before and readers who have been following my blog from its inception would remember some scathing remarks I had made in the past.

Whatever the negativities, LMIR, with its very low gearing level of 9.2% and interest cover ratio of 13.3x, would take a fool of epic proportion to sink. Therefore, it remains, in my opinion a bullet proof REIT with plenty of room to grow.

What is worth highlighting is that any further growth is likely to be funded 100% by debt and, thus, DPU would grow, everything else remaining equal.

For anyone investing for income with a good dose of patience, investing in LMIR could be a very rewarding decision. So, is it a good time to buy into LMIR now?

Well, at last Friday's close of 42.5c, the annualised distribution yield, using 1Q 2012's DPU of 0.69c, is 6.49%. This is not attractive enough for me to add to my long position.

Assuming that the REIT would, over the course of 2012, deliver a DPU of 3.26c as per my estimates, the distribution yield would be 7.67% at the same unit price of 42.5c. This is definitely more attractive but it would mean investors must be more optimistic and place more confidence in the management to deliver. This is a judgement call.

Investors could consider adding if price should weaken to offer distribution yields upwards of 8% for a bigger margin of safety. Is this to be based on annualising 1Q 2012's DPU or the DPU I estimated, post rights? That's your call.

Related posts:
1. LMIR: Too cheap to sell.
2. LMIR: 4Q 2011 results.

See press release: here.


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