Eco Music Challenge : Vote for your Favourites!

Organised by the National Environment Agency, the contest inspires talented musicians to protect and care for the environment through music. 

Give your favourite song / singer some support by voting for them!

Show your support and vote! Details at:
http://sg.sharings.cc/AK71SG/share/neaecomusic

"Every small action contributes to reducing our energy footprint. Follow the 3Rs (Reduce, Reuse, Recycle) to bring down our overall energy use."

Marco Polo Marine: Employee Share Option Scheme.

One reason why I like Marco Polo Marine is the large stake which Mr. Lee Wan Tang has in the company. If insiders have a large stake, their interests are more likely to be aligned with those of minority shareholders'. Any action to hurt the interests of minority shareholders' will likely hurt their own.

I also like the fact that Mr. Lee Wan Tang's son, Mr. Sean Lee Yun Feng, who is also the CEO, and daughter were granted share options on 24 April 2013 with an exercise price of 41.5c. 30% of the share options are allowed to be exercised on the 1st anniversary of the date of grant, not earlier.

Anyway, it is unlikely that anyone would exercise the options now even if they could as the share price is currently quite a bit lower than 41.5c. By end April 2014, up to 30% of the options could be exercised if share price were to rise above 41.5c, I suppose.



Mr. Sean Lee

This tells me that there is an even greater incentive for Mr. Sean Lee Yun Feng to steer the company towards higher earnings in 2014 (which would likely result in a higher share price) if he were to benefit from these share options. If you think that this looks like a strong alignment of the management's interests with those of minority shareholders', I won't disagree with you.

All else being equal, favour companies in which management has a significant personal investment over companies run by people that benefit only from their salaries. Peter Lynch.
Read page 235, One Up On Wall Street.

Patience is sometimes the hardest part ... There is simply no way to know when a particular stock will appreciate, or if, in fact, it will.
From: http://singaporeanstocksinvestor.blogspot.sg/2013/02/little-book-of-value-investing.html

See:
Employee Share Option Scheme.

Related post:
Marco Polo Marine: It got cheaper.

Marco Polo Marine: A video.

See Marco Polo Marine's yard and some of their vessels in action.

Related post:
Marco Polo Marine: Will FY2013 better FY2012?

9M 2013 income from S-REITs and more.

Three more months to the end of the year. Lots of things have happened in the first 9 months of the year. I want to zoom in on the investment front and record some of my thoughts.

The strategy to be invested in S-REITs for income is still working. Of course, with the spectre of the Fed cutting back on QE and a possible increase in interest rates in the next 2 or 3 years, Mr. Market has turned cautious on leveraged investments like S-REITs. This is only natural. Unit prices of S-REITs have become more realistic as a result.

When Mr. Market is pessimistic, that is when we are likely to get good deals. As to what is a good deal, I am sure this is rather subjective. Every person would have a different idea of what is an acceptable margin of safety. Every person would have a different perception of a REIT's prospects.

Having built up a relatively large portfolio of S-REITs, I devoted more resources to investing in what I believe are undervalued stocks, something which I continue to do in 2013.

So, essentially, what I have done is to keep what has worked well for me thus far while expanding my investments in certain companies, recognising possibly more difficult times ahead for S-REITs. 

This is an approach that requires more work than simply getting passive income from S-REITs but the time when it was a no-brainer to buy and hold S-REITs probably ended sometime in the second half of 2012.

For 9M 2013, how much did I receive in passive income from S-REITs? 

$92,872.65

Full year 2013 income from S-REITs is most likely going to be lower compared to 2012 because I sold a significant portion of my investment in LMIR earlier this year and also because Saizen REIT distributes income half yearly (i.e. there is no income distribution in December from Saizen REIT).

Also, we might want to bear in mind that, although hedged, the weaker Indonesian Rupiah and Japanese Yen could result in lower income distributions in S$ terms for unit holders of these REITs in the year 2014.

With twice as much industrial space being scheduled for completion in 2014 and 2015 than any single year in the past decade, the possibility of stagnating or even a reduction in income for industrial S-REITs in future cannot be discounted. This is why looking at WALE (Weighted Average Lease Expiry) of industrial S-REITs is more important now.

Although I would have liked nothing better than to sit back and collect passive income regularly from S-REITs, doing very little else, I decided to move out of my comfort zone. For sure, there were bumps along the way but my efforts have generally been rewarding thus far. 

What did I do?

I increased my investments in stocks which are likely to be dependable passive income generators such as SPH and NeraTel. 

I also hold long positions in stocks which I believe would benefit from the Chinese consumption story such as CapitaMalls Asia, PCRT and Wilmar. 

Any dividend from investing in these stocks and any gain from trading would go towards cushioning the possible decline in income from S-REITs in future.

Up to 15 September 2013, the total gain from trading this year amounts to: 

$188,625.13

It was fortuitous the way the China Minzhong saga turned out. It preserved my trading gains and grew it rather significantly at the same time. Apart from my long position in Wilmar, all other investments are in the black. 

So, what is my plan for the future? 

Nothing profound really. 

If prices were to decline much more, I hope I would be brave enough to buy more. If prices were to rise much more, I hope I would remember to sell some.

The grand scheme is to augment and not to replace my passive income portfolio. 

For sure, it doesn't mean that I think S-REITs are going the way of the Dodo. Indeed, they are still good investments for income at the right prices. For me, passive income from S-REITs will still be an important pillar in achieving financial freedom. This is unlikely to change in the foreseeable future.

Remember, this blog is not meant to instruct but if anyone finds it inspiring, I will be happy enough.

Related posts:
1. 2012 full year income from S-REITs.
2. Never lose money in real estate and S-REITs?
3. Do not love unless it is worth the loving.
4. Motivations and methods in investing.
5. Be cautious climbing the S-REIT tree.
6. Be comfortable with being invested.

How much do cheaper mass market cars really cost?

People always say how expensive it is to buy a car in Singapore. Fewer people talk about how expensive it is to maintain a car in Singapore.

With Category A COEs being protected from luxury makes very soon, some of us who are looking to buy smaller mass market cars are probably feeling a bit happier.

Cars with engine power output exceeding 97kW will be classified under Category B in COE bidding exercises starting February 2014.

The new categorisation criteria comes as LTA seeks to better delineate mass market cars from premium cars.

Imagine rich folks buying cars like BMW 116, Mercedes Benz C180 and even the Lotus Elise competing for Category A COEs with people buying a Mazda 2 like me! It just isn't fair! Well, it will soon become a thing of the past. Read article: here.

However, if you are thinking of buying a car, whether it is a need or a want, be prepared to spend a fair bit of money to keep your car running in good condition.

I just sent my car for servicing recently and this was how much it cost me:

To be fair, it was a major service as the half yearly maintenance bill usually hovers around the $300 mark.

For a 1.5 or 1.6 litre Japanese make, a $15k to $20k a year burn rate is about right, including depreciation (although some might argue that this is a non-cash item). Is it money well spent?

Read these?
1. Buy a Mercedes Benz.
2. Lease a car, don't buy.

Dried mangoes on special offer!

This is a special blog post for a special reader:

@ NTUC Fairprice

I like 7D mangoes but it is a bit pricey. I think it might have something to do with the re-sealable packaging. So, recently, I tried Joy mangoes. I found that they are just as good as the 7D mangoes and almost 14% cheaper!

Endrene, cepat!

Win a GUESS watch and a $200 voucher!

I like sharing good deals. I like it when we get a chance to win something too!

3 lucky winners will walk away with any GUESS watch they like. Also, sign up on the GUESS Watches mailing list and stand to win a GUESS Watches Voucher worth $200.

For all the details:
http://sg.sharings.cc/AK71SG/share/GUESSwatchcontest

Want a 140 years housing loan?

Authority showed that, at current pace of amortisation, it takes Swedish households 140 years on average to repay their home loans. Only 40% of borrowers with mortgages smaller than 75% of their property's value actually pay down their debt, according to the report.
(The Business Times, 12 Sep 2013.)

Wah! Like this also can?

If this were to be allowed in Singapore, property prices would shoot through the roof (and to the moon).

Related post:
Leverage up and buy real estate.

Tea with Mike: A fundamental analysis of SPH (Part 2).

Now, let’s talk about the recent move to spin off some properties to become SPH REIT. There was some very misleading info and I thought it might be a good idea to clear it here once and for all.

 

SPH has stated that NET gearing would fall to 9.3% from 40.6%.  That led some to think the interest cost might be lower now, and given such low gearing now, SPH could gear themselves up to 40% again without any new consequences to develop their malls.

First of all, I do not know how the management will utilize the proceeds, and whether they will pay down debts using the proceeds. But NET gearing fell simply because the cash level went up. Absolute debt remains the same and hence finance costs will remain the same.

Also, it is very unlikely SPH will increase gearing further to fund the mall management business.  If they do increase gearing, and start using their cash, NET gearing is going to jump quite drastically.

So let’s assume, they simply use their proceeds for mall expansion, they will have a warchest of $760 million, and gearing will be back at 40%.

What can $760 million do?

Clementi Mall is valued at about $560 million. Well, it depends on which valuation report you take. So, the money can be used to buy or develop another mall of such a scale. If Clementi Mall is any guide, the potential mall would have an NPI of $31 million.

 

Seletar Mall has GLA of similar size to Clementi Mall. So, let’s assume they have the same NLA, and we take a 30% discount to the NPI, and that given the fact that Seletar Mall is  only 70% SPH owned, Seletar Mall will contribute $15 million. $15 million is hardly exciting but more than enough to offset the deterioration of revenue from the Classified section.

So, in conclusion, if you are looking for growth catalyst in SPH, and hence higher dividend yield, don’t get your hopes too high, but if you are worried that SPH might start going to the dogs soon, I think you worry too much.

Buying SPH will be buying into a stalwart, with a yield of between 5-6%, which is unlikely to see downward revision anytime soon, is not too bad a deal for me.

 

Read Part 1: here.

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

AK71: I agree with Mike in that SPH is a good investment for income and it is a stock I will be accumulating on weakness. If share price should retreat to $3.60 a share, a DPS of 21c to 24c would mean a dividend yield of some 5.83% to 6.67%. Pretty decent.

Peter Lynch classified stocks into 5 categories. "Stalwarts" are "big companies which are not likely to go out of business. The key issue is price, and the PER will tell you whether you are paying too much. If you plan to hold the stock forever, see how the company has fared during previous recessions and market drops." (Page 230 in "One Up On Wall Street".)

See also: SPH is a better investment than retail S-REITs.

Please spare the rapist.

Some people have no shame. Really.

The mother of one of the New Delhi gang rapists who will be sentenced on Friday has called for leniency to be shown to her 20-year-old son whom she said was led astray.

"The judge should give them a second chance to reform themselves. Even God gives every person a second chance," Devi said on Thursday afternoon.

Read: http://news.xin.msn.com/en/regional/spare-my-son-begs-mother-of-delhi-gang-rapist

What about the rape victim? Who gave her a chance?

Tea with Mike: A fundamental analysis of SPH (Part 1).

SPH is a media company and many believe it has a dying media business. However, in the short to medium term, I think we cannot be so sure to deliver such a verdict.

First, let us look at the table below.

Click to enlarge.

 

Advertisement revenue has some correlation with economic activity, and the number we look at here is the GDP.

 

Margin is also not declining in a straight line but is rather volatile, with better margin during boom years, as can be seen in 2010 and 2004.

But, what about the onslaught of digital platforms? Do they not have an impact on SPH? Well, the answer is  "no". Huh? Am I contradicting myself here?

Advertisement comes from three segments: Display, Classified and Magazine & Others.

As I have posted in a forum before, if we track the revenue of these segments from 2009 to the most recent quarter (i.e. the most recent trough to recovery), the weak 2008 Q4 to 2009 Q4, Classifieds and Recruits ads suffered the biggest drop as compared to Display. When the weak recovery started in 2010, total advertisement revenue was smaller than in 2012 and 2013 YTD, yet Classified's revenue was higher in 2010 than in 2012 and 2013 YTD.

Hence, declining business was due to the decline of the Classified segment, which included the Recruits segment. It makes sense too, if you want to buy a house, or look for a job, you may no longer turn to the newspaper Classified segment anymore as there are many websites offering such services.  However, if you are talking about M1 or other telcos, or the supermarkets trying to market their promotions, chances are they will still do it through the Display segment of the newspapers.

The "Display" sections will probably be around for a long time and might even grow from strength to strength due to Singapore's growing economic strength with a bigger domestic economy over time.

The "Classified" section revenue was 28% of 2012 Ad revenue, at 218 million and continues to shrink in 2013.

Now, to look at it from the perspective of whether SPH's other businesses can offset this shrinkage, a 5% annual deterioration is only $11 million which is about 1.3% of annual advertisement revenue and less than 0.5% of total revenue. I seriously do not think it would be a tall order to offset this.

Another concern is circulation figures, the circulation of printed papers have been in constant decline, 2012 figures was pumped up because they included digital subscriptions, which I feel resulted in double accounting as the print and digital version would likely overlap (i.e. people who subscribed to print would automatically be given digital accounts).

 

So, if circulation keeps falling, wouldn’t Display advertisement revenue be affected too? My personal opinion is that as long as there is no drastic fall in circulation, Display segment revenue will be more affected by economic activity than by circulation, simply because SPH is a monopoly (and we might want to remember that they have a stake in Today too) and there are no credible alternatives.

 

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

In Part 2, Mike will talk about SPH REIT and what it means for SPH: Continue reading here.

Sabana REIT: Panic selling at $1.055 a unit.

Sabana REIT announced a private placement of 40,000,000 units at $1.00 each.

See announcement: here.

This will increase the number of units in issue by 6.2%. Everything remaining equal, it would dilute the DPU by about 5.84%. However, everything will not remain equal since the money raised will go towards the purchase of a new property, 508 Chai Chee Lane, which will bump up DPU. So, the reduction in DPU from the placement is ameliorated.

See announcement: here.

The fall in unit price earlier this morning to a low of $1.055 which was a decline of some 6.3% from yesterday's closing price of $1.125 was overdone.

Indeed, if expectations of positive rental reversions are realised by November 2013, at current prices (of under $1.10 a unit), Sabana REIT looks like a pretty good investment for income. We might be counting the chicks before they are hatched, of course.

Related post:
Sabana REIT: 2Q 2013 DPU 2.4c.

$2.00 breakfast and $1.00 dinner.

It has been a while since I bought vegetarian bee hoon for breakfast as I usually have oatmeal from home.

$2.00 for a big packet of bee hoon with vegetables and tofu. Extravagant compared to my usual oatmeal but I should pamper myself once in a while, right? Yummy!

Here is a photo of my simple and delicious dinner:

$1.00 is just an estimate. Half the price of my breakfast and I got lots of vitamin E from the Kiwifruit too. Eating less at night these days. Well, I try to anyway.

Related posts:
1. Low budget dinner.
2. Sunday brunch.
3. Have an extra $1,200 a year.

Tea with Solace: Valuation, PER and Value Trap (Part 2).

In order to study sustainability of earning, I have learned to identify the economic moats of company. Successful growth companies should still be profitable in the years ahead.

Recommended Reading:

The Five Rules for Successful Stock Investing, Chapter 3

To study the qualities of earning, I tend to look at whether a company is well managed with growth prospect. I sometimes refer to Philip A. Fisher 15 investments points as guide. I check whether a company has worthwhile profit margin? Does the management have the determination to continue to develop products or processes that will still further increase total sales potentials?

Recommended Reading:

Common Stocks and Uncommon Profit, “Fifteen Points to look for in a Common Stock”


I look for a stock that has a higher earning yield compare to a lower one. Businesses that return a high return of capital are better than businesses that earn a low return on capital.

Points taken from

The Little Book That Beats the Markets

Making sure that a company is in good financial health without excessive bad debts is another thing I pay close attention to.

Recommended Reading:

The Little Book of Value Investing, Chapter 11 -14

 

Finally, if analyzing individual company is really too challenging and tiring. We can just try to buy the whole basket of stocks that track the index. Exploring the idea of investing in index fund can also be rewarding in the long term.


Recommended Reading:
The Little Book of Common Sense Investing

 

Learning to identify truly undervalued companies with good fundamentals while avoiding value traps is truly a skill that will take time to master. This is a huge topic which can be further discussed in the future.

Read Part 1: here.

Read other guest blogs by Solace:
Tea with Solace.

Tea with Solace: Valuation, PER and Value Trap (Part 1).

This guest blog by Solace is very helpful to any new investor looking for some pointers and I also feel that it is useful to investors who might be in need of some defragmenting regardless of the number of years they have been investing in the stock market. I know I need this from time to time.

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



From: http://singaporeanstocksinvestor.blogspot.sg/2013/08/how-to-be-one-up-on-wall-street.html

Once, a relative who had 30 years of stock market experience told me that we need to distinguish between a growth company and a growth stock.

 Many times, growth companies are not growth stocks because the hype of expected growth had already been reflected in the share price. Growth stocks are stocks whose prices are likely to increase because their values or business fundamentals are unappreciated. We should try to look for growth stocks not growth companies.

A very popular valuation ratio is price to earnings (P/E Ratio). The easiest way to use P/E ratio is to compare it against a benchmark, such as

 

1) Stock P/E to the average P/E of the entire market,

 

2) compare against another company in the same industry,

 

3) compare the same company at a different point in time, company’s Historical P/E.

Some of my friends think that P/E of more than 20 is considered overvalued and P/E of less than 12 is considered undervalued. If only life were so simple.

When looking at P/E, we need to open our eyes and see whether the E makes sense.

The most common way to calculate the PE ratio is to use price divided by a company's reported earnings per share over the last 12 months. This is known as the trailing twelve month (ttm) PE ratio, or the historical PE ratio.

What happens if the company sold its asset or business in the last quarter? It is going to have a very big E, and results in a lower P/E. The stock may suddenly look cheap, but in reality based on operating earnings, the stock isn’t that cheap!

Some investors prefer to look forward and project next year's earnings. This is known as forward P/E. Very often, estimates of future earnings by professional analyst are too optimistic. If enough investors believe in the wrong projection, a bubble will develop. An earnings disappointment will result in a steep price drop!

Some stocks trade at low P/E for a reason. When we are looking at stocks that seem very cheap, we need to look deeper. They could be value traps, in that the stock price would go lower as the company continues to have problems in their operations.

So when we look at stocks that are cheaply price, it is important to look at the quality of earnings and the sustainability of the earning. We have to make sure underlying business is sound before buying into low P/E stocks.

And how are we going to make sure the company fundamentals are sound? Based on my current limited knowledge, I will do a short sharing on some of the points going through my head whenever I try to look at stock that appears cheap.

Continue in Part 2: Here.

Buffettology: Hard cover at US$9.98 a copy.

If you missed out the last time, 5 copies just became available at US$9.98 a copy.

Free shipping worldwide.

Follow the link to the special deal in this blog post:
Good deal on "Buffettology" (hardcover)

Inflation hits dental fees.

I spent $87.50 this evening at the dental clinic. Scaling and polishing. Ouch! Yes, painful. Don't misunderstand. I meant the bill.

I remember my last visit cost me about $60.00 only. Well, maybe a bit more. OK, to be fair, that was about two years ago. OK, to be more accurate, maybe it was a bit more than two years.

Still, takai des ne.

They would advise me to visit once every six months. When I was younger, I did that but I cannot remember when I stopped and, now, I would visit once every two or three years. I am terrible. I know.

However, I really take care of my teeth very well. I brush properly twice a day. You would be surprised how many people don't know how to brush their teeth properly. I only use Colgate Total toothpaste. I floss. I use Listerine mouth gargle.

Although it is more than two years since my last visit, the dentist gave my teeth a clean bill of health. No decay and not too dirty either. Just had some stains in places I could not reach normally.

Not smoking and not drinking coffee probably helped as well. Another reason to give up smoking and Starbucks coffee for those of you who are addicted. Hint, hint, nudge, nudge, wink, wink.

After thinking a bit more, I guess it is OK to pay S$87.50 since I saved $240.00 by not seeing the dentist every six months in the last two years, assuming that the price was still $60.00 per visit.

Reminder to myself:
Try to see the dentist at least once a year.

Related posts:
1. Inflation: What to do?
2. Inflation hits fried bee hoon.
3. Inflation is not going away.

Old Chang Kee: Lessons from Mr. Han.

Added on 12 April 2017:

OLD CHANG KEE DI INDONESIA
-----------
I enjoyed an article on Old Chang Kee today in The Business Times.

Mr. Han Keen Juan acquired Old Chang Kee in 1986. He tried blending cultures and introduced croissants but these did not take off. 

Apparently, it was the norm to hold a curry puff and eat it on the go but people preferred to eat French pastry sitting down! It also created some customer confusion as to what Old Chang Kee represented.

To me, Old Chang Kee is the King of Asian finger food in Singapore. Their menu has expanded to include, for example, XL size fishballs which they call "footballs" and you have to trust me when I say they are delicious especially with the special chilli sauce made just for them!

Some of my other favourites are spring roll, yam cake, carrot cake and fried chicken wings (Sedap!). For sure, I cannot go without at least one of their signature curry puffs every once in a while.

The success that is Old Chang Kee today is very much about keeping to a theme that is familiar to Singaporeans. It is about sticking to a formula which has worked well for years.

Similarly, it could be a good idea for us to stick to what we know best when we are investing in the stock market. 

If we were to expand our investment portfolio, it could make sense to look at industries we are familiar with or industries which are related to what we are familiar with. 

If a strategy works well for us and is reliably replicable, why not stick to it?

Mr. Han also ventured into the dining arena by starting a small kiosk that sold authentic Hainanese dishes. It became a hit! He quickly opened another outlet without first ensuring that the kitchens could maintain the quality of the food. Diners were disappointed and the business folded within four months.

Old Chang Kee's mobile kitchen!

This holds a precious lesson for investors at large too. Don't be too hasty to take the plunge. Make sure we have a strong foundation and the necessary resources before we try growing our investments.

If our portfolio size is beyond what is the optimum (and this is probably a subjective notion), we could be increasing the probability of something nasty happening along the way. Shudder at the thought.

Related post:
Old Chang Kee: Almost 70c a share.

Luck plays a part in investing.

I would readily admit anytime that luck plays a part in investing and I would also find a businessman who admits some of his success is due to luck to be more believable.

If someone claims that his success is due to his foresight and never luck, good for him but forgive me if I say I do not believe him. 

I am sure we have come across people like this in our lives. 

They are full of confidence and think that they can do no wrong.





Some might find such confidence attractive and gravitate towards such personalities. 

It is quite natural. 

Mind you, I am not saying that it is wrong to do so. 

There must be some reasons other than luck which have contributed to the success these personalities enjoy. 

So, there must be lessons we could learn from them.





The important thing is not to surrender our cognitive abilities and be swept away by emotions. 

They are as human as all of us although some might want us to think otherwise.

The Chinese have a saying:

谋事在人成事在天






People could make plans and put them in motion but whether the plans succeed or not depends on the heavens.





Related post:
Motivations and methods in investing.

Is AK71 going to stop blogging?

In the last one week, I have not blogged about investing in stocks. In fact, I have not done any substantial blogging at all. Quite suddenly, I found my energy level to be quite low. It is almost as if I am running on empty now.

I decided to spend more time doing things for myself and that is exactly what I have been doing. I cannot say that I have been doing anything progressive but I think I have been doing things which I was doing a lot more of in the past, things which I enjoyed but have neglected since I started blogging.

In a few replies to readers, I revealed that I want to spend some time thinking about my blogging efforts and the direction which my blog should take in future. Honestly, I haven't been spending much time thinking about it. However, the time I did spend thinking about the matter did not yield any clear direction. Perhaps, I shouldn't think too much and time would tell me what to do eventually.

In a reply to a reader, I said that "I might not stop blogging but I think I will be powering down. Feeling somewhat drained." Having said that, I have conflicting feelings within me as to how I should be blogging henceforth and, indeed, whether I should continue blogging. I cannot help but question if my blogs have done more harm than good.

I have shared freely my thoughts on many things in ASSI. Through it all, I injected my personal beliefs which included pragmatism, integrity and compassion. Certain events in the recent past have shown me that perhaps what I have done is insufficient and that despite my best intentions, things went wrong. When a reader asked me what happened to me recently, I said "self-doubt" happened.

ASSI is something I have spent a lot of time on in the last (almost) 4 years. It is hard to give up. However, too much of a good thing is often bad. So, "moderation" is probably the key here.

This has been one of the hardest blogs I have ever penned as I struggled with my thoughts and feelings. Although the blog is not very long, it took me more than an hour to compose. I almost gave up but I know I must do the right thing and to keep readers guessing is not right by me.

I am not disappearing but we should not be surprised if I don't blog as much as I used to before. Indeed, do not be surprised if I do not blog the way I used to or about some of the things I used to either. Nothing is set in stone, of course. I will be keeping my options open.

Win $100 worth of shopping vouchers!

Watch "Buying a House" videos and take part in a quiz by 16 September 2013. You could win $100 worth of shopping vouchers in the process too.

Watch the videos here: Buying a House.

This blog post is part of ASSI's voluntary community service to help raise awareness on personal financial planning. Yeah!

Related post:
Buying a piece of real estate within your means.

Unscrupulous and rude person from Prudential.

My sister told me she had a cold call from Prudential.

When she heard the caller was from Prudential, she replied that she already has an agent from the company. The caller asked for the name of her agent and went on to say how some agents do not provide good service etc. When my sister told her that she is happy with her agent, the caller just slammed down the phone on her.

I have been told by quite a few people before that Prudential agents have no qualms about pouching clients belonging to fellow agents. It seems that there is some truth in this.

I told my sister that she should have asked for the person's name. Anyway, her phone has Caller ID and she has noted down the phone number of the caller. I wonder if she should report this to Prudential or would it be a waste of time?

Related post:
A bad experience in a local bank.