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Are You Comparing Apple With Apple?

Are You Comparing Apple With Apple? This week, education group Auston said that its profits were overstated because it had capitalised instead of expensed up-front fees payment to certain universities.

This is the second franchise company whose accounting practices were called into question. Today, we’ll discuss the impact of capitalising versus expensing on a company’s balance sheet, income and cash flow statements, and its accounting ratios. We’ll also try to compare the accounting policies of a few Singapore companies with franchises....
 

Sector Overview: Healthcare

Sector Overview: Healthcare STI performs to my expectations as it heads towards 3,040 (my eventual technical measured target price which I mentioned previously). What’s next?...
 

30 years from now: how much your lifestyle will cost in 2047

30 years from now: how much your lifestyle will cost in 2047 Property investments have long been favoured in Asian cultures, and Singapore is no different. The appeal is as much psychological as it is financial: you can stand inside a house you own, but you can’t see a stock or bond (well, not unless you bother to get the certificate). But take away this appeal, and what’s left in terms of real numbers?...
 

4 reasons why property may not be the best asset for retirement

4 reasons why property may not be the best asset for retirement Property investments have long been favoured in Asian cultures, and Singapore is no different. The appeal is as much psychological as it is financial: you can stand inside a house you own, but you can’t see a stock or bond (well, not unless you bother to get the certificate). But take away this appeal, and what’s left in terms of real numbers?...
 

Federal Reserve Rate Hike – Should I Refinance to Fixed Rates?

Federal Reserve Rate Hike – Should I Refinance to Fixed Rates? The Federal Reserve will meet again on the 13-14th June 2017. The latest May 2017 labour statistics show unemployment at 4.4%. This is the lowest ever since 2008....
 

Ernest’s market opinion

Ernest’s market opinion Below is my personal opinion on the market. As previously mentioned to my clients, I aim to reduce my percentage invested in stocks (currently around 130% invested), especially the non-performing stocks, with no immediate near term catalysts. I am cautious on the market in the next 1-2 months because...
 

12 things I learned from Parkway Life REIT’s 2017 AGM

12 things I learned from Parkway Life REIT’s 2017 AGM Parkway Life REIT (PLife REIT; SGX: C2PU) has been in our portfolio for a number of years now and has given us solid capital gains and a consistent dividend yield since. This isn’t a surprise as PLife REIT enjoys a stable 15 + 15-year master lease with Parkway Hospitals in Singapore with an annual rental escalation that increases at the inflation rate + 1%. This has translated into steady distributions for PLife REIT and a distribution per unit (DPU) growth of 91.8% since its IPO. At the time of writing, PLife REIT’s current distribution yield is around 4.79%....