30 January 2018
Trades (30 Jan 2018)
QT Vascular sold 0.019
Genting Sing added 1.36/1.35
Keppel T&T bought 1.61/1.59, retracement of rising three method on the weekly chart
Ascendas Reit added 2.77/2.76
Riverstone bought 1.12/1.11
Genting Sing added 1.36/1.35
Keppel T&T bought 1.61/1.59, retracement of rising three method on the weekly chart
Ascendas Reit added 2.77/2.76
Riverstone bought 1.12/1.11
Labels: Live Trading Records
29 January 2018
Trades (29 Jan 2018)
Jumbo reduced 0.64 at a profit
CapitaCom Trust added 1.90
Genting Sing added 1.37/1.36
CapitaCom Trust added 1.90
Genting Sing added 1.37/1.36
Labels: Live Trading Records
Micro-Mechanics’ 1H18 Net Profit Grows 34.6% to S$9.1 million
Group net profit in 2Q18 increases 16.1% to S$3.9 million
Paying higher interim dividend of 4.0 cents per share on 13 February 2018
Sound balance sheet with cash of S$22.4 million and zero debt
Singapore, 27 January 2018 – Micro-Mechanics (Holdings) Ltd. (“Micro-Mechanics” or the “Group”), a
manufacturer of high precision tools and parts used in process-critical applications for the semiconductor
industry, has delivered a record first half net profit of S$9.1 million for the six months ended 31 December
2017 (“1H18”), up 34.6% from the same period a year ago.
The bottom line was driven by higher revenue, better gross profit margin and a continued tight rein on
expenses. The Group achieved its highest-ever first half revenue of S$33.3 million in 1H18, up 21.1% from
1H17. Gross profit margin in 1H18 also improved to 58.7% from 56.4% in 1H17.
For the second quarter ended 31 December 2017 (“2Q18”), the Group reported a 16.1% increase in net
profit to S$3.9 million on the back of revenue growth of 10.3% to S$15.6 million.
In line with Micro-Mechanics’ long-held practice of rewarding shareholders, the Group will be paying a
higher interim dividend of 4 cents per share (one-tier tax exempt) on 13 February 2018, compared to 3
cents per share a year ago.
CEO of Micro-Mechanics, Mr Chris Borch said, “The growth in the Group’s revenue and net profit in 1H18
reflected the strength of the semiconductor industry, our focus on customers and the value we create for
them, as well as our continual efforts to enhance manufacturing processes, productivity and cost structure.
This enabled the Group to deliver higher profit margins in spite of ongoing selling price and cost pressures.”
According to the Semiconductor Industry Association, world-wide chip sales rose 22.6% during the fivemonth
period from July to November 2017. The World Semiconductor Trade Statistics recently reported
that it expects worldwide chip sales to grow 20.6% to a record US$408.7 billion for 2017, and to increase by
another 7% in 2018.
“Current market forecasts point to an upward trajectory for global chip sales in 2018. We believe this
positive outlook is underpinned by the prevalence of semiconductors in our daily lives. However, we expect
to see continued price and cycle-time pressures as the chip industry is increasingly driven by price-sensitive
consumer applications. We will also need to manage challenges from rising costs and shortage of skilled
workers. As the Group grows, we plan to continue automating our operations, streamlining our processes
and using technology to leverage the know-how and skills of our people,” said Mr Borch.
As at 31 December 2017, Micro-Mechanics had a sound financial position with total assets of S$70.2
million, shareholders’ equity of S$57.2 million, cash and cash equivalents of S$22.4 million and zero debt.
Paying higher interim dividend of 4.0 cents per share on 13 February 2018
Sound balance sheet with cash of S$22.4 million and zero debt
Singapore, 27 January 2018 – Micro-Mechanics (Holdings) Ltd. (“Micro-Mechanics” or the “Group”), a
manufacturer of high precision tools and parts used in process-critical applications for the semiconductor
industry, has delivered a record first half net profit of S$9.1 million for the six months ended 31 December
2017 (“1H18”), up 34.6% from the same period a year ago.
The bottom line was driven by higher revenue, better gross profit margin and a continued tight rein on
expenses. The Group achieved its highest-ever first half revenue of S$33.3 million in 1H18, up 21.1% from
1H17. Gross profit margin in 1H18 also improved to 58.7% from 56.4% in 1H17.
For the second quarter ended 31 December 2017 (“2Q18”), the Group reported a 16.1% increase in net
profit to S$3.9 million on the back of revenue growth of 10.3% to S$15.6 million.
In line with Micro-Mechanics’ long-held practice of rewarding shareholders, the Group will be paying a
higher interim dividend of 4 cents per share (one-tier tax exempt) on 13 February 2018, compared to 3
cents per share a year ago.
CEO of Micro-Mechanics, Mr Chris Borch said, “The growth in the Group’s revenue and net profit in 1H18
reflected the strength of the semiconductor industry, our focus on customers and the value we create for
them, as well as our continual efforts to enhance manufacturing processes, productivity and cost structure.
This enabled the Group to deliver higher profit margins in spite of ongoing selling price and cost pressures.”
According to the Semiconductor Industry Association, world-wide chip sales rose 22.6% during the fivemonth
period from July to November 2017. The World Semiconductor Trade Statistics recently reported
that it expects worldwide chip sales to grow 20.6% to a record US$408.7 billion for 2017, and to increase by
another 7% in 2018.
“Current market forecasts point to an upward trajectory for global chip sales in 2018. We believe this
positive outlook is underpinned by the prevalence of semiconductors in our daily lives. However, we expect
to see continued price and cycle-time pressures as the chip industry is increasingly driven by price-sensitive
consumer applications. We will also need to manage challenges from rising costs and shortage of skilled
workers. As the Group grows, we plan to continue automating our operations, streamlining our processes
and using technology to leverage the know-how and skills of our people,” said Mr Borch.
As at 31 December 2017, Micro-Mechanics had a sound financial position with total assets of S$70.2
million, shareholders’ equity of S$57.2 million, cash and cash equivalents of S$22.4 million and zero debt.
Labels: Reference
28 January 2018
Charlie Munger: The trick is getting into better businesses
From Wenxuecity
We've really made the money out of high quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But when you analyze what happened, the big money's been made in the high quality businesses. And most of the other people who've made a lot of money have done so in high quality businesses.
Over the long term, it's hard for a stock to earn a much better return than the business which underlies it earns. If the business earns 6% on capital over 40 years and you hold it for that 40 years, you're not going to make much different than a 6% return—even if you originally buy it at a huge discount. Conversely, if a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you'll end up with a fine result.
So the trick is getting into better businesses. And that involves all of these advantages of scale that you could consider momentum effects.
How do you get into these great companies? One method is what I'd call the method of finding them small get 'em when they're little. For example, buy Wal-Mart when Sam Walton first goes public and so forth. And a lot of people try to do just that. And it's a very beguiling idea. If I were a young man, I might actually go into it.
But it doesn't work for Berkshire Hathaway anymore because we've got too much money. We can't find anything that fits our size parameter that way. Besides, we're set in our ways. But I regard finding them small as a perfectly intelligent approach for somebody to try with discipline. It's just not something that I've done.
Finding 'em big obviously is very hard because of the competition. So far, Berkshire's managed to do it. But can we continue to do it? What's the next Coca-Cola investment for us? Well, the answer to that is I don't know. I think it gets harder for us all the time....
And ideally and we've done a lot of this—you get into a great business which also has a great manager because management matters. For example, it's made a great difference to General Electric that Jack Welch came in instead of the guy who took over Westinghouse—a very great difference. So management matters, too.
And some of it is predictable. I do not think it takes a genius to understand that Jack Welch was a more insightful person and a better manager than his peers in other companies. Nor do I think it took tremendous genius to understand that Disney had basic momentums in place which are very powerful and that Eisner and Wells were very unusual managers.
So you do get an occasional opportunity to get into a wonderful business that's being run by a wonderful manager. And, of course, that's hog heaven day. If you don't load up when you get those opportunities, it's a big mistake.
Occasionally, you'll find a human being who's so talented that he can do things that ordinary skilled mortals can't. I would argue that Simon Marks—who was second generation in Marks & Spencer of England—was such a man. Patterson was such a man at National Cash Register. And Sam Walton was such a man.
These people do come along—and in many cases, they're not all that hard to identify. If they've got a reasonable hand—with the fanaticism and intelligence and so on that these people generally bring to the party—then management can matter much.
However, averaged out, betting on the quality of a business is better than betting on the quality of management. In other words, if you have to choose one, bet on the business momentum, not the brilliance of the manager.
But, very rarely, you find a manager who's so good that you're wise to follow him into what looks like a mediocre business.
We've really made the money out of high quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But when you analyze what happened, the big money's been made in the high quality businesses. And most of the other people who've made a lot of money have done so in high quality businesses.
Over the long term, it's hard for a stock to earn a much better return than the business which underlies it earns. If the business earns 6% on capital over 40 years and you hold it for that 40 years, you're not going to make much different than a 6% return—even if you originally buy it at a huge discount. Conversely, if a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you'll end up with a fine result.
So the trick is getting into better businesses. And that involves all of these advantages of scale that you could consider momentum effects.
How do you get into these great companies? One method is what I'd call the method of finding them small get 'em when they're little. For example, buy Wal-Mart when Sam Walton first goes public and so forth. And a lot of people try to do just that. And it's a very beguiling idea. If I were a young man, I might actually go into it.
But it doesn't work for Berkshire Hathaway anymore because we've got too much money. We can't find anything that fits our size parameter that way. Besides, we're set in our ways. But I regard finding them small as a perfectly intelligent approach for somebody to try with discipline. It's just not something that I've done.
Finding 'em big obviously is very hard because of the competition. So far, Berkshire's managed to do it. But can we continue to do it? What's the next Coca-Cola investment for us? Well, the answer to that is I don't know. I think it gets harder for us all the time....
And ideally and we've done a lot of this—you get into a great business which also has a great manager because management matters. For example, it's made a great difference to General Electric that Jack Welch came in instead of the guy who took over Westinghouse—a very great difference. So management matters, too.
And some of it is predictable. I do not think it takes a genius to understand that Jack Welch was a more insightful person and a better manager than his peers in other companies. Nor do I think it took tremendous genius to understand that Disney had basic momentums in place which are very powerful and that Eisner and Wells were very unusual managers.
So you do get an occasional opportunity to get into a wonderful business that's being run by a wonderful manager. And, of course, that's hog heaven day. If you don't load up when you get those opportunities, it's a big mistake.
Occasionally, you'll find a human being who's so talented that he can do things that ordinary skilled mortals can't. I would argue that Simon Marks—who was second generation in Marks & Spencer of England—was such a man. Patterson was such a man at National Cash Register. And Sam Walton was such a man.
These people do come along—and in many cases, they're not all that hard to identify. If they've got a reasonable hand—with the fanaticism and intelligence and so on that these people generally bring to the party—then management can matter much.
However, averaged out, betting on the quality of a business is better than betting on the quality of management. In other words, if you have to choose one, bet on the business momentum, not the brilliance of the manager.
But, very rarely, you find a manager who's so good that you're wise to follow him into what looks like a mediocre business.
Labels: Investment Quote
26 January 2018
PARKWAY LIFE REAL ESTATE INVESTMENT TRUST - Outlook
Commenting on the performance of 2017, Mr. Yong Yean Chau, Chief Executive Officer of
the Manager said: “Building on our strategies and network developed in the last 10 years, we
are pleased to deliver another sound set of results for Unitholders in 2017. In 1Q 2017, we
completed our 2nd Strategic Japan Asset Recycling Exercise and successfully rebalanced our
Japan portfolio with the acquisition of five better quality Japan properties. Maintaining a strong
focus in cultivating good Landlord-Lessee relationships, three more asset enhancement
initiatives were rolled out for our Japan portfolio in 2017, bringing the total to twelve to-date.
Throughout the year, proactive financial and capital management continues to work in unison
to enhance the stability of distributions to Unitholders. We enter our second decade with
confidence, with a healthy level of gearing and a lowered effective all-in cost of debt. With no
refinancing need till 2019, the weighted average debt to maturity had been lengthened to 3.1
years from 2.9 years7, with a well staggered debt maturity profile. Our interest cover ratio
stands healthy at 11.3 times with interest rate exposure largely hedged and the JPY net
income fully hedged till 1Q 2022.
Moving into the new financial year, our sound fundamentals continue to serve as the bulwark
as we stay watchful for growth opportunities for PLife REIT.”
The long-term outlook of the industry continues to be driven by favourable patient demographics and
demand for better quality healthcare and aged care services.
Parkway Life REIT’s enlarged portfolio of 49 high-quality healthcare and healthcare-related assets
places it in a good position to benefit from the resilient growth of the healthcare industry in the Asia
Pacific region.
In addition, Parkway Life REIT is supported by favourable rental lease structures, where at least 95%
of its Singapore and Japan portfolios have downside revenue protection and 62% of the total portfolio
is pegged to CPI-linked revision formulae, ensuring steady future rental growth whilst protecting
revenue stability amid uncertain market conditions.
the Manager said: “Building on our strategies and network developed in the last 10 years, we
are pleased to deliver another sound set of results for Unitholders in 2017. In 1Q 2017, we
completed our 2nd Strategic Japan Asset Recycling Exercise and successfully rebalanced our
Japan portfolio with the acquisition of five better quality Japan properties. Maintaining a strong
focus in cultivating good Landlord-Lessee relationships, three more asset enhancement
initiatives were rolled out for our Japan portfolio in 2017, bringing the total to twelve to-date.
Throughout the year, proactive financial and capital management continues to work in unison
to enhance the stability of distributions to Unitholders. We enter our second decade with
confidence, with a healthy level of gearing and a lowered effective all-in cost of debt. With no
refinancing need till 2019, the weighted average debt to maturity had been lengthened to 3.1
years from 2.9 years7, with a well staggered debt maturity profile. Our interest cover ratio
stands healthy at 11.3 times with interest rate exposure largely hedged and the JPY net
income fully hedged till 1Q 2022.
Moving into the new financial year, our sound fundamentals continue to serve as the bulwark
as we stay watchful for growth opportunities for PLife REIT.”
The long-term outlook of the industry continues to be driven by favourable patient demographics and
demand for better quality healthcare and aged care services.
Parkway Life REIT’s enlarged portfolio of 49 high-quality healthcare and healthcare-related assets
places it in a good position to benefit from the resilient growth of the healthcare industry in the Asia
Pacific region.
In addition, Parkway Life REIT is supported by favourable rental lease structures, where at least 95%
of its Singapore and Japan portfolios have downside revenue protection and 62% of the total portfolio
is pegged to CPI-linked revision formulae, ensuring steady future rental growth whilst protecting
revenue stability amid uncertain market conditions.
Labels: Reference
CDL HOSPITALITY TRUSTS - Outlook
Total visitor arrivals to Singapore grew 5.8% year-on-year (“yoy”) to 14.5 million for year-to-date (“YTD”) October
2017, mainly due to an increase in arrivals from China and India.
. The Singapore Tourism Board (“STB”) continues
to position Singapore as a leading MICE destination and newly secured flagship events being featured in 2018
include Industrial Transformation Asia Pacific, the Asia Pacific edition of a HANNOVER MESSE event on industrial
technology
, and Money20/20, the Asia Pacific edition of the world’s largest FinTech event3
. In 2018, Singapore is
also the ASEAN chairman, where Singapore will host several meetings and events involving foreign delegates
across the year, including the 32nd and 33rd ASEAN Summit4
.
In 2018, the pace of growth of the Singapore economy is projected to remain firm and global growth to pick up
marginally5
. The macro-economic backdrop is expected to be a supportive demand driver for the Singapore
hospitality market6
.
The net supply for hotel inventory in Singapore is estimated to increase by 7697
rooms in 2018, representing approximately 1.2% of existing room stock. While the supply growth tapers off from 2018, room rates are likely to
remain competitive in the near term as new hotels opened in 2017 seek to build their base. For the first 24 days of January 2018, RevPAR for the Singapore Hotels decreased by 5.5% as compared to the same period last year.
In New Zealand, international visitor arrivals increased 7.0% yoy to a record 2.9 million for YTD October 2017,
reflecting the steady growth momentum in the tourism market.
Tourism demand in Japan continues to be healthy with visitor arrivals increasing 19.3% yoy to 28.7 million for the
year 2017 . However, competition in Tokyo’s economy hotel market arising from increases in new supply and
minpaku (peer-to-peer accommodation) may moderate growth in room rates in the near term10.
In the Maldives, the increase in new rooms supply, which has intensified price competition amongst resorts, coupled
with the decline in visitor arrivals from China, continue to affect trading conditions. Forward demand growth is
supported by increased flight capacity from destinations including Europe, Southeast Asia and the Middle East11.
In the United Kingdom, visitor arrivals increased 5.5% yoy to 33.3 million for YTD October 201712. Total arrivals are
expected to grow 6.2% in 2017 and a further 4.4% in 2018, although Brexit and Sterling pound-related uncertainties
may weigh on overall demand.
The Eurozone continues to record economic growth and the positive economic environment has led to
strengthening business optimism in Germany14. In Munich, total international visitor arrivals increased 12.9% yoy for
YTD October 201715. While there is an increase in new rooms supply in the city in the near term, the strong pipeline
of trade shows over the next two years16 will provide support for the Munich hospitality market.
CDLHT continuously executes its proactive asset management strategy where opportunities are evaluated
periodically to recycle capital for better returns, unlock underlying asset values and enhance its assets.
In Singapore, the renovation of the restaurant in Orchard Hotel, Hua Ting, was completed and it has opened in
December 2017. In order to capture the demand from MICE events in the first four months of 2018, refurbishment
works for the guest rooms in the Orchard wing of the Orchard Hotel, is being rescheduled to May 2018, together
with planned works for a significant portion of the public areas. While the hotel will face some disruption in the short
term, the completed refurbishment exercise will improve overall guest experience and augment the competitiveness
of the asset to be positioned for the recovery in the Singapore hotel sector. CDLHT will continuously explore asset
enhancement opportunities for the Singapore Hotels.
In the Maldives, refurbishment of 28 land villas is being planned in the third quarter of 2018 for Angsana Velavaru.
For CDLHT’s other Maldives resort, Dhevanafushi Maldives Luxury Resort, extensive asset enhancement plans are
being finalised and will culminate in a full re-branding exercise in late 2018. This transition process to a “Raffles”
resort, under the iconic collection of Raffles Hotels and Resorts, will lead to sub-optimal revenue contribution until
the exercise is completed.
In Australia, CDLHT successfully completed the divestment of Mercure Brisbane and Ibis Brisbane in January 2018,
for an attractive exit yield and a premium over the original purchase price and latest independent valuation. The
Managers of CDLHT intend to utilise the proceeds from the divestment mainly to repay existing borrowings, which
will further strengthen CDLHT’s balance sheet. Part of the gains will also be used to make distributions to stapled
securityholders in FY 2018.
With ample debt headroom and a robust balance sheet, CDLHT will continue to actively pursue suitable
acquisitions to diversify and augment its income streams.
2017, mainly due to an increase in arrivals from China and India.
. The Singapore Tourism Board (“STB”) continues
to position Singapore as a leading MICE destination and newly secured flagship events being featured in 2018
include Industrial Transformation Asia Pacific, the Asia Pacific edition of a HANNOVER MESSE event on industrial
technology
, and Money20/20, the Asia Pacific edition of the world’s largest FinTech event3
. In 2018, Singapore is
also the ASEAN chairman, where Singapore will host several meetings and events involving foreign delegates
across the year, including the 32nd and 33rd ASEAN Summit4
.
In 2018, the pace of growth of the Singapore economy is projected to remain firm and global growth to pick up
marginally5
. The macro-economic backdrop is expected to be a supportive demand driver for the Singapore
hospitality market6
.
The net supply for hotel inventory in Singapore is estimated to increase by 7697
rooms in 2018, representing approximately 1.2% of existing room stock. While the supply growth tapers off from 2018, room rates are likely to
remain competitive in the near term as new hotels opened in 2017 seek to build their base. For the first 24 days of January 2018, RevPAR for the Singapore Hotels decreased by 5.5% as compared to the same period last year.
In New Zealand, international visitor arrivals increased 7.0% yoy to a record 2.9 million for YTD October 2017,
reflecting the steady growth momentum in the tourism market.
Tourism demand in Japan continues to be healthy with visitor arrivals increasing 19.3% yoy to 28.7 million for the
year 2017 . However, competition in Tokyo’s economy hotel market arising from increases in new supply and
minpaku (peer-to-peer accommodation) may moderate growth in room rates in the near term10.
In the Maldives, the increase in new rooms supply, which has intensified price competition amongst resorts, coupled
with the decline in visitor arrivals from China, continue to affect trading conditions. Forward demand growth is
supported by increased flight capacity from destinations including Europe, Southeast Asia and the Middle East11.
In the United Kingdom, visitor arrivals increased 5.5% yoy to 33.3 million for YTD October 201712. Total arrivals are
expected to grow 6.2% in 2017 and a further 4.4% in 2018, although Brexit and Sterling pound-related uncertainties
may weigh on overall demand.
The Eurozone continues to record economic growth and the positive economic environment has led to
strengthening business optimism in Germany14. In Munich, total international visitor arrivals increased 12.9% yoy for
YTD October 201715. While there is an increase in new rooms supply in the city in the near term, the strong pipeline
of trade shows over the next two years16 will provide support for the Munich hospitality market.
CDLHT continuously executes its proactive asset management strategy where opportunities are evaluated
periodically to recycle capital for better returns, unlock underlying asset values and enhance its assets.
In Singapore, the renovation of the restaurant in Orchard Hotel, Hua Ting, was completed and it has opened in
December 2017. In order to capture the demand from MICE events in the first four months of 2018, refurbishment
works for the guest rooms in the Orchard wing of the Orchard Hotel, is being rescheduled to May 2018, together
with planned works for a significant portion of the public areas. While the hotel will face some disruption in the short
term, the completed refurbishment exercise will improve overall guest experience and augment the competitiveness
of the asset to be positioned for the recovery in the Singapore hotel sector. CDLHT will continuously explore asset
enhancement opportunities for the Singapore Hotels.
In the Maldives, refurbishment of 28 land villas is being planned in the third quarter of 2018 for Angsana Velavaru.
For CDLHT’s other Maldives resort, Dhevanafushi Maldives Luxury Resort, extensive asset enhancement plans are
being finalised and will culminate in a full re-branding exercise in late 2018. This transition process to a “Raffles”
resort, under the iconic collection of Raffles Hotels and Resorts, will lead to sub-optimal revenue contribution until
the exercise is completed.
In Australia, CDLHT successfully completed the divestment of Mercure Brisbane and Ibis Brisbane in January 2018,
for an attractive exit yield and a premium over the original purchase price and latest independent valuation. The
Managers of CDLHT intend to utilise the proceeds from the divestment mainly to repay existing borrowings, which
will further strengthen CDLHT’s balance sheet. Part of the gains will also be used to make distributions to stapled
securityholders in FY 2018.
With ample debt headroom and a robust balance sheet, CDLHT will continue to actively pursue suitable
acquisitions to diversify and augment its income streams.
Labels: Reference
Ascendas Reit - Outlook for FY17/18
In Singapore, island-wide vacancy rate of industrial properties remained at about 11% as at
31 December 2017. Ascendas Reit’s Singapore occupancy rate fell by 1.3% from 90.1% in
the previous quarter due to the increasing supply and stronger competition for quality
tenants.
Year-to-date, three properties in Singapore have been divested for total proceeds of S$60.8
million. This is in line with the Manager’s proactive asset management strategy to redeploy
capital and optimise returns for Unitholders.
In Australia, two suburban offices at 100 and 108 Wickham Street in Brisbane were
separately acquired. This helps to diversify Ascendas Reit’s portfolio geographically and
improves earnings stability from its long leases and quality tenants. The Australia portfolio
currently comprises 31 properties with a total value of S$1.5 billion.
The Singapore economy grew by 3.5% y-on-y in 2017 and is forecast to grow by 1.5% to
3.5% in 2018. The growth is supported by the manufacturing sector as well as externally oriented
sectors such as wholesale trade, transportation & storage and finance & insurance
(source: Ministry of Trade and Industry).
Consensus GDP growth forecast for Australia in 2017 and 2018 is 2.3% and 2.8%
respectively (source: Bloomberg). Non-mining business investment continues to support
growth as Australia transitions away from commodity investment.
There is a general consensus that the global economic outlook has generally improved.
However, downside risks include geopolitical tensions and a potential increase in trade
protectionist policies.
Ascendas Reit’s performance for FY17/18 is expected to remain stable.
31 December 2017. Ascendas Reit’s Singapore occupancy rate fell by 1.3% from 90.1% in
the previous quarter due to the increasing supply and stronger competition for quality
tenants.
Year-to-date, three properties in Singapore have been divested for total proceeds of S$60.8
million. This is in line with the Manager’s proactive asset management strategy to redeploy
capital and optimise returns for Unitholders.
In Australia, two suburban offices at 100 and 108 Wickham Street in Brisbane were
separately acquired. This helps to diversify Ascendas Reit’s portfolio geographically and
improves earnings stability from its long leases and quality tenants. The Australia portfolio
currently comprises 31 properties with a total value of S$1.5 billion.
The Singapore economy grew by 3.5% y-on-y in 2017 and is forecast to grow by 1.5% to
3.5% in 2018. The growth is supported by the manufacturing sector as well as externally oriented
sectors such as wholesale trade, transportation & storage and finance & insurance
(source: Ministry of Trade and Industry).
Consensus GDP growth forecast for Australia in 2017 and 2018 is 2.3% and 2.8%
respectively (source: Bloomberg). Non-mining business investment continues to support
growth as Australia transitions away from commodity investment.
There is a general consensus that the global economic outlook has generally improved.
However, downside risks include geopolitical tensions and a potential increase in trade
protectionist policies.
Ascendas Reit’s performance for FY17/18 is expected to remain stable.
Labels: Reference
Trades (26 Jan 2018)
Jumbo reduced 0.62/0.63 at a profit
CapitaCom Trust added 1.90
Frasers L&I Tr added 1.15
Keppel Reit bought 1.27, retracement of weekly candlestick rising three methods
CapitaCom Trust added 1.90
Frasers L&I Tr added 1.15
Keppel Reit bought 1.27, retracement of weekly candlestick rising three methods
Labels: Live Trading Records
25 January 2018
Trades (25 Jan 2018)
Straits Trading sold remainder at 2.38 at a profit
Jumbo Reduced 0.61
CapitaCom Trust added 1.90
Frasers Com Tr bought 1.50, retracement of weekly candlestick rising three methods
Genting Sing added 1.36
US: AVGO - BROADCOM LTD stopped out at 252 at a minor loss
Jumbo Reduced 0.61
CapitaCom Trust added 1.90
Frasers Com Tr bought 1.50, retracement of weekly candlestick rising three methods
Genting Sing added 1.36
US: AVGO - BROADCOM LTD stopped out at 252 at a minor loss
Labels: Live Trading Records
CAPITALAND COMMERCIAL TRUST
Commentary on the competitive conditions of the industry in which the group operates and any known
factors or events that may affect the group in the next reporting period and the next 12 months
The Trust achieved higher distributable income despite a challenging Singapore office market in 2017. CCT’s
distributable income grew by 7.4% to S$288.9 million, up from S$269.0 million in the previous year. The year-onyear
increase was due to stronger performance from CapitaGreen, a S$4.4 million top up for the loss of distributable
income arising from the divestments of One George Street (50.0% interest) and Wilkie Edge and a S$8.0 million taxexempt
income distribution.
The Trust embarked on another successful cycle of portfolio reconstitution in 2017 by unlocking value with the
divestments of Wilkie Edge and a 50.0% interest in One George Street at exit yields of 3.4% and 3.2% respectively
and redeploying divestment proceeds to the acquisition of Asia Square tower 2 (“AST2”), a higher yielding asset, as
well as the redevelopment of Golden Shoe Car Park.
On 13 July 2017, the Manager had announced the formation of a joint venture between CCT (45.0% interest),
CapitaLand Singapore Limited (45.0% interest), a wholly owned subsidiary of CapitaLand Limited, and Mitsubishi
Estate Co., Ltd (10.0% interest), to redevelop Golden Shoe Car Park into an integrated development comprising
Grade A office, ancillary retail, serviced residence and food centre with a gross floor area of approximately one
million square feet. The redevelopment of Golden Shoe Car Park is expected to be completed in the first half of
2021 and will further strengthen CCT’s lead as the largest commercial landlord in Singapore’s Central Business
District by net lettable area.
On 1 November 2017, CCT completed the acquisition of AST2. The acquisition was funded by divestment proceeds,
bank borrowings and a S$700.0 million rights issue that was over-subscribed by 1.8 times. The Manager
appreciates the support from unitholders on the rights issue. The committed occupancy of AST2 was 90.5% as at
end December 2017. CCT will continue to proactively lease the balance space to enhance income.
CCT’s S$175.0 million convertible bonds were fully converted into 122.7 million CCT units before its maturity date of
12 September 2017 at the conversion price of S$1.4265 per unit. The Trust has a healthy balance sheet with an
aggregate leverage of 37.3% (well below the regulatory limit of 45.0%) and an average cost of debt of 2.6% as at 31
December 2017. About 80% of the Trust’s borrowings are pegged at fixed rates, which offer greater certainty of
interest expense in a rising interest rate environment. The Manager continues to adopt a proactive capital
management strategy to optimise the average term to maturity and cost of borrowings. For the S$1.12 billion bridge
facility obtained for the acquisition of Asia Square Tower 2 due in 2019, CCT has obtained S$600 million in
unsecured bank loans to refinance it ahead of its maturity. The Trust awaits the right opportunity and timing to
refinance the remaining S$520.0 million.
Outlook for 2018
Based on data from CBRE Pte. Ltd., Singapore’s Core CBD and Grade A occupancy rates in 4Q 2017 were 93.8%,
with the Grade A occupancy rate tracking an uptick of 2.2% from 91.6% in 3Q 2017. Average monthly rent for
Grade A offices rose to S$9.40 per square foot in 4Q 2017, an increase of 3.3% year-on-year. Market rents are
expected to rise in light of limited new office supply in the next few years and reported high pre-commitment levels of
recently completed and upcoming office buildings in the CBD. Lower net property income is expected in FY 2018 at
some CCT properties given the flow through from negative rent reversions of leases committed in 2017 into 2018
and that rents of leases expiring in 2018 are higher than current market rent. However, CCT will leverage on rising
market rents to close the gap between signing and committed rents.
factors or events that may affect the group in the next reporting period and the next 12 months
The Trust achieved higher distributable income despite a challenging Singapore office market in 2017. CCT’s
distributable income grew by 7.4% to S$288.9 million, up from S$269.0 million in the previous year. The year-onyear
increase was due to stronger performance from CapitaGreen, a S$4.4 million top up for the loss of distributable
income arising from the divestments of One George Street (50.0% interest) and Wilkie Edge and a S$8.0 million taxexempt
income distribution.
The Trust embarked on another successful cycle of portfolio reconstitution in 2017 by unlocking value with the
divestments of Wilkie Edge and a 50.0% interest in One George Street at exit yields of 3.4% and 3.2% respectively
and redeploying divestment proceeds to the acquisition of Asia Square tower 2 (“AST2”), a higher yielding asset, as
well as the redevelopment of Golden Shoe Car Park.
On 13 July 2017, the Manager had announced the formation of a joint venture between CCT (45.0% interest),
CapitaLand Singapore Limited (45.0% interest), a wholly owned subsidiary of CapitaLand Limited, and Mitsubishi
Estate Co., Ltd (10.0% interest), to redevelop Golden Shoe Car Park into an integrated development comprising
Grade A office, ancillary retail, serviced residence and food centre with a gross floor area of approximately one
million square feet. The redevelopment of Golden Shoe Car Park is expected to be completed in the first half of
2021 and will further strengthen CCT’s lead as the largest commercial landlord in Singapore’s Central Business
District by net lettable area.
On 1 November 2017, CCT completed the acquisition of AST2. The acquisition was funded by divestment proceeds,
bank borrowings and a S$700.0 million rights issue that was over-subscribed by 1.8 times. The Manager
appreciates the support from unitholders on the rights issue. The committed occupancy of AST2 was 90.5% as at
end December 2017. CCT will continue to proactively lease the balance space to enhance income.
CCT’s S$175.0 million convertible bonds were fully converted into 122.7 million CCT units before its maturity date of
12 September 2017 at the conversion price of S$1.4265 per unit. The Trust has a healthy balance sheet with an
aggregate leverage of 37.3% (well below the regulatory limit of 45.0%) and an average cost of debt of 2.6% as at 31
December 2017. About 80% of the Trust’s borrowings are pegged at fixed rates, which offer greater certainty of
interest expense in a rising interest rate environment. The Manager continues to adopt a proactive capital
management strategy to optimise the average term to maturity and cost of borrowings. For the S$1.12 billion bridge
facility obtained for the acquisition of Asia Square Tower 2 due in 2019, CCT has obtained S$600 million in
unsecured bank loans to refinance it ahead of its maturity. The Trust awaits the right opportunity and timing to
refinance the remaining S$520.0 million.
Outlook for 2018
Based on data from CBRE Pte. Ltd., Singapore’s Core CBD and Grade A occupancy rates in 4Q 2017 were 93.8%,
with the Grade A occupancy rate tracking an uptick of 2.2% from 91.6% in 3Q 2017. Average monthly rent for
Grade A offices rose to S$9.40 per square foot in 4Q 2017, an increase of 3.3% year-on-year. Market rents are
expected to rise in light of limited new office supply in the next few years and reported high pre-commitment levels of
recently completed and upcoming office buildings in the CBD. Lower net property income is expected in FY 2018 at
some CCT properties given the flow through from negative rent reversions of leases committed in 2017 into 2018
and that rents of leases expiring in 2018 are higher than current market rent. However, CCT will leverage on rising
market rents to close the gap between signing and committed rents.
Labels: Reference
24 January 2018
Trades (24 Jan 2018)
CapitaLand stopped out at 3.81 at a profit
weekly
Straits Trading reduced 2.38 at a profit
Ley Choon sold 0.046 at a profit
weekly
Hotel Grand sold 1.47 at a profit
weekly
Broadway Ind sold 0.131
weekly
Genting Sing reduced 1.37/1.38/1.39 at a profit
CapitaCom Trust added 1.91/1.90
weekly
Straits Trading reduced 2.38 at a profit
Ley Choon sold 0.046 at a profit
weekly
Hotel Grand sold 1.47 at a profit
weekly
Broadway Ind sold 0.131
weekly
Genting Sing reduced 1.37/1.38/1.39 at a profit
CapitaCom Trust added 1.91/1.90
Labels: Live Trading Records
23 January 2018
Trades (23 Jan 2018)
Wing Tai sold 2.40 at a profit
Straits Trading reduced 2.38 at a profit
Jadason^ sold 0.084 at a loss
CapitaCom Trust added 1.92/1.91/1.90
CapitaMall Trust added 2.05
Ascendas Reit added 2.75
Perennial Hldgs added 0.875
Straits Trading reduced 2.38 at a profit
Jadason^ sold 0.084 at a loss
CapitaCom Trust added 1.92/1.91/1.90
CapitaMall Trust added 2.05
Ascendas Reit added 2.75
Perennial Hldgs added 0.875
Labels: Live Trading Records
22 January 2018
Trades (22 Jan 2018)
Frencken sold 0.60 at a profit
SingPost sold 1.29 at a profit
Best World added 1.32
SingPost sold 1.29 at a profit
Best World added 1.32
Labels: Live Trading Records
19 January 2018
Singapore, Malaysia ink bilateral agreement to build Rapid Transit System Link by 2024
From Business Times
When the Johor Baru-Singapore Rapid Transit System Link opens in 2024, commuters will be able to hop on a train every four to eight minutes.
PUBLISHEDJAN 16, 2018, 12:20 PM SGTUPDATEDJAN 17, 2018, 12:16 AM
FACEBOOK340TWITTEREMAIL
Royston SimAssistant Political Editor
SINGAPORE - Singapore and Malaysia have inked a legally binding bilateral agreement to build a cross-border MRT line that will let commuters travel seamlessly between Woodlands North and Johor Baru.
The signing at the Istana on Tuesday (Jan 16) is a concrete step towards the building of the 4km Rapid Transit System (RTS) Link, which is set to open by Dec 31, 2024. Construction is expected to begin next year.
This is the second bilateral agreement between both countries in two years, following a deal in 2016 to build a 350km high-speed rail line between Kuala Lumpur and Singapore.
Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Razak witnessed the signing of the bilateral agreement by Coordinating Minister for Infrastructure Khaw Boon Wan, who is also Transport Minister, and Malaysia's Minister in the Prime Minister's Department Abdul Rahman Dahlan.
The Rapid Transit System Link will be run by a joint venture formed by rail operators SMRT and Prasarana Malaysia, for the first concession period of 30 years.
The link is expected to reduce congestion at border crossings between Singapore and Malaysia.
When the RTS Link begins service, commuters can hop on a train every eight minutes on average. Trains will eventually arrive every four minutes on average during peak periods.
Prime Minister Lee Hsien Loong and Malaysian counterpart Najib Razak shaking hands following a joint press conference during the annual Leaders’ Retreat on Jan 16. ST PHOTO: ONG WEE JIN
The line will start with five trains, and gradually have a total fleet of seven trains.
Up to 10,000 passengers an hour can travel in each direction between Johor's Bukit Chagar terminus station and the Singapore terminus in Woodlands North, where it will join the upcoming Thomson-East Coast Line (TEL).
Commuters will be able to transfer from the Rapid Transit System station to the Thomson-East Coast Line concourse via an underground link, without needing to exit the station.
Related Story
7 things to know about the upcoming Johor Baru-Singapore Rapid Transit System Link
Like the high-speed rail line, the Rapid Transit System Link - which will cross the Strait of Johor via a 25m-high bridge - will have a joint customs, immigration and quarantine facility at both terminus stations.
This means international-bound travellers will need to clear customs and immigration only once, when departing from the respective countries.
Taking into account the Johor Sultan’s earlier reservations about the project, the new link’s tracks will cross the Strait of Johor in a straight line rather than curving over water, making a bend over land in Malaysia instead.
In August last year, Sultan Ibrahim Sultan Iskandar had said that the idea for a curved bridge was impractical, unsustainable and potentially costly. He also said such a design would disrupt the Johor Baru city skyline, and agreed in November to the construction of a straight elevated bridge for the rail line instead.
It remains unclear if the rail link will be entirely above ground, and the authorities here are studying the need to acquire land in Singapore for the project.
The daily shuttle train service from Woodlands to Johor Baru will stop operating within six months of the link's opening.
The rail link project was announced in May 2010, with the completion date initially set for 2018.
In 2015, Malaysia chose Bukit Chagar as the main terminal station for the line, which will use the same rail systems and rolling stock as the 31-station TEL. The TEL will open in phases from 2019 to 2024.
Ahead of the retreat, the two prime ministers officially opened the 30-storey Marina One in Marina Bay district on Monday (Jan 15) evening.
Duo, a mixed-use development in the nearby Ophir-Rochor district, was lit up to mark its official opening too.
The developments are the outcome of a historic pact between Singapore and Malaysia in 2010 and reflect the turn in the ties between the two neighbours after a 20-year impasse.
During the deadlock, they wrangled over plots of railway land in Singapore that Malaysia had previously controlled.
Eventually, in return for the three plots and another three plots in Bukit Timah, Singapore offered four parcels of land in Marina South and two parcels of land in Ophir-Rochor for development.
When the Johor Baru-Singapore Rapid Transit System Link opens in 2024, commuters will be able to hop on a train every four to eight minutes.
PUBLISHEDJAN 16, 2018, 12:20 PM SGTUPDATEDJAN 17, 2018, 12:16 AM
FACEBOOK340TWITTEREMAIL
Royston SimAssistant Political Editor
SINGAPORE - Singapore and Malaysia have inked a legally binding bilateral agreement to build a cross-border MRT line that will let commuters travel seamlessly between Woodlands North and Johor Baru.
The signing at the Istana on Tuesday (Jan 16) is a concrete step towards the building of the 4km Rapid Transit System (RTS) Link, which is set to open by Dec 31, 2024. Construction is expected to begin next year.
This is the second bilateral agreement between both countries in two years, following a deal in 2016 to build a 350km high-speed rail line between Kuala Lumpur and Singapore.
Prime Minister Lee Hsien Loong and Malaysian Prime Minister Najib Razak witnessed the signing of the bilateral agreement by Coordinating Minister for Infrastructure Khaw Boon Wan, who is also Transport Minister, and Malaysia's Minister in the Prime Minister's Department Abdul Rahman Dahlan.
The Rapid Transit System Link will be run by a joint venture formed by rail operators SMRT and Prasarana Malaysia, for the first concession period of 30 years.
The link is expected to reduce congestion at border crossings between Singapore and Malaysia.
When the RTS Link begins service, commuters can hop on a train every eight minutes on average. Trains will eventually arrive every four minutes on average during peak periods.
Prime Minister Lee Hsien Loong and Malaysian counterpart Najib Razak shaking hands following a joint press conference during the annual Leaders’ Retreat on Jan 16. ST PHOTO: ONG WEE JIN
The line will start with five trains, and gradually have a total fleet of seven trains.
Up to 10,000 passengers an hour can travel in each direction between Johor's Bukit Chagar terminus station and the Singapore terminus in Woodlands North, where it will join the upcoming Thomson-East Coast Line (TEL).
Commuters will be able to transfer from the Rapid Transit System station to the Thomson-East Coast Line concourse via an underground link, without needing to exit the station.
Related Story
7 things to know about the upcoming Johor Baru-Singapore Rapid Transit System Link
Like the high-speed rail line, the Rapid Transit System Link - which will cross the Strait of Johor via a 25m-high bridge - will have a joint customs, immigration and quarantine facility at both terminus stations.
This means international-bound travellers will need to clear customs and immigration only once, when departing from the respective countries.
Taking into account the Johor Sultan’s earlier reservations about the project, the new link’s tracks will cross the Strait of Johor in a straight line rather than curving over water, making a bend over land in Malaysia instead.
In August last year, Sultan Ibrahim Sultan Iskandar had said that the idea for a curved bridge was impractical, unsustainable and potentially costly. He also said such a design would disrupt the Johor Baru city skyline, and agreed in November to the construction of a straight elevated bridge for the rail line instead.
It remains unclear if the rail link will be entirely above ground, and the authorities here are studying the need to acquire land in Singapore for the project.
The daily shuttle train service from Woodlands to Johor Baru will stop operating within six months of the link's opening.
The rail link project was announced in May 2010, with the completion date initially set for 2018.
In 2015, Malaysia chose Bukit Chagar as the main terminal station for the line, which will use the same rail systems and rolling stock as the 31-station TEL. The TEL will open in phases from 2019 to 2024.
Ahead of the retreat, the two prime ministers officially opened the 30-storey Marina One in Marina Bay district on Monday (Jan 15) evening.
Duo, a mixed-use development in the nearby Ophir-Rochor district, was lit up to mark its official opening too.
The developments are the outcome of a historic pact between Singapore and Malaysia in 2010 and reflect the turn in the ties between the two neighbours after a 20-year impasse.
During the deadlock, they wrangled over plots of railway land in Singapore that Malaysia had previously controlled.
Eventually, in return for the three plots and another three plots in Bukit Timah, Singapore offered four parcels of land in Marina South and two parcels of land in Ophir-Rochor for development.
Labels: Reference
Do I need to pay GST on the bag I bought overseas? 8 things you need to know
From Business Times
This story was first published on Jan 14, 2016, and updated on Jan 19, 2018
SINGAPORE - A 25-year-old woman was arrested at Changi Airport on Jan 12 after she failed to declare the branded items she had bought overseas for goods and services tax (GST) payment.
Officers checked her luggage when she tried to exit through the Customs Green Channel without declaring the items, which were worth more than $11,000.
The Singaporean woman had arrived on a flight from Paris with at least two handbags, several wallets and a belt.
Travellers, including Singaporeans returning from overseas, will have to pay GST on the value of the goods that exceeds the GST relief.
GST for goods valued below $150 is not applicable for travellers who are out of Singapore for less than 48 hours. For those who are away for more than 48 hours, GST is exempt for goods valued up to $600.
Still unsure about when you need to pay GST and how much to pay? Here are the answers to some commonly asked questions:
1. WHY DO SINGAPOREANS HAVE TO PAY GST ON THEIR PURCHASES OVERSEAS?
GST is a tax on local consumption. All goods brought into Singapore are subject to 7 per cent GST regardless of whether they are imported through commercial shipments or hand-carried by travellers for their own personal use.
Such goods include new articles, souvenirs, gifts and food preparations purchased overseas and meant for the traveller's personal use.
The policy of GST imposed on goods brought into Singapore has been in force since April 1, 1994,when GST was first implemented in Singapore.
Singapore's GST (known in some countries as Value Added Tax) on imports is consistent in all countries with GST or Value Added Tax systems.
There is no GST relief for liquor, tobacco products, petroleum and goods imported for commercial purposes.
2. IF THE ITEM WAS RECEIVED AS A GIFT, HOW IS THE TAX CALCULATED SINCE THERE WILL BE NO RECEIPT?
If the receipts are not available, the value of the goods will be assessed based on the values of identical or similar goods when computing the GST payable.
3. HOW MANY PEOPLE HAVE BEEN CAUGHT NOT DECLARING TAXABLE GOODS IN THE PAST YEARS?
In 2012 and 2013, there were 179 and 398 cases respectively where warnings or composition sums were issued.
ST_20160114_AUAPP14_1986998.jpg
Travellers arriving in Singapore (left). Those who use the Customs@SG app (above) can exit the checkpoint through the Customs Green Channel without having to stop to declare and pay the duty/GST for the goods at the Customs Tax Payment Office.
Related Story
New Customs app makes paying duties, GST easier
4. WHAT HAPPENS IF A TRAVELLER IS CAUGHT FOR NOT DECLARING GOODS PURCHASED ABROAD?
Travellers who are stopped at the checkpoints for not declaring goods purchased abroad with values exceeding their GST relief quantum will be referred to Singapore Customs. The GST due is collected from the travellers, with an advisory to pay GST for goods exceeding their GST relief.
Moreover, failure to declare the value of your purchases is an offence under the Customs Act and the GST Act. Offenders may be prosecuted in court, fined up to $10,000 and jailed for up to three years.
5. IF A TRAVELLER BUYS A BAG FROM A DUTY-FREE SHOP IN CHANGI AIRPORT WHILE LEAVING SINGAPORE, WILL HE/SHE BE TAXED ON THE BAG UPON ARRIVAL BACK TO THE COUNTRY?
The newly purchased bag is subject to GST if it exceeds the traveller's GST relief amount.
6. IS THE ITEM STILL SUBJECT TO GST IF THE TRAVELLER REMOVES THE PRICE TAG/PACKAGING AND USES THE ITEM BOUGHT OVERSEAS IMMEDIATELY?
These items are considered as new articles and are subject to GST if the traveller's GST relief amount is exceeded when the new items are brought into Singapore.
7. DO TRAVELLERS STILL HAVE TO PAY GST IF THEY HAVE ALREADY PAID SALES TAX FOR AN ITEM OVERSEAS AND DID NOT CLAIM TAX REBATE?
GST is applicable for items imported into Singapore regardless of whether foreign sales tax was paid for the items overseas as the items will be consumed in Singapore.
8. ARE GOODS SHIPPED BACK SEPARATELY (FROM SAME TRIP) ALSO SUBJECT TO GST?
For goods imported by post, a GST relief amount of up to $400 per shipment is granted. Where the value of the shipment exceeds $400, GST is payable on the total value of the shipment.
This story was first published on Jan 14, 2016, and updated on Jan 19, 2018
SINGAPORE - A 25-year-old woman was arrested at Changi Airport on Jan 12 after she failed to declare the branded items she had bought overseas for goods and services tax (GST) payment.
Officers checked her luggage when she tried to exit through the Customs Green Channel without declaring the items, which were worth more than $11,000.
The Singaporean woman had arrived on a flight from Paris with at least two handbags, several wallets and a belt.
Travellers, including Singaporeans returning from overseas, will have to pay GST on the value of the goods that exceeds the GST relief.
GST for goods valued below $150 is not applicable for travellers who are out of Singapore for less than 48 hours. For those who are away for more than 48 hours, GST is exempt for goods valued up to $600.
Still unsure about when you need to pay GST and how much to pay? Here are the answers to some commonly asked questions:
1. WHY DO SINGAPOREANS HAVE TO PAY GST ON THEIR PURCHASES OVERSEAS?
GST is a tax on local consumption. All goods brought into Singapore are subject to 7 per cent GST regardless of whether they are imported through commercial shipments or hand-carried by travellers for their own personal use.
Such goods include new articles, souvenirs, gifts and food preparations purchased overseas and meant for the traveller's personal use.
The policy of GST imposed on goods brought into Singapore has been in force since April 1, 1994,when GST was first implemented in Singapore.
Singapore's GST (known in some countries as Value Added Tax) on imports is consistent in all countries with GST or Value Added Tax systems.
There is no GST relief for liquor, tobacco products, petroleum and goods imported for commercial purposes.
2. IF THE ITEM WAS RECEIVED AS A GIFT, HOW IS THE TAX CALCULATED SINCE THERE WILL BE NO RECEIPT?
If the receipts are not available, the value of the goods will be assessed based on the values of identical or similar goods when computing the GST payable.
3. HOW MANY PEOPLE HAVE BEEN CAUGHT NOT DECLARING TAXABLE GOODS IN THE PAST YEARS?
In 2012 and 2013, there were 179 and 398 cases respectively where warnings or composition sums were issued.
ST_20160114_AUAPP14_1986998.jpg
Travellers arriving in Singapore (left). Those who use the Customs@SG app (above) can exit the checkpoint through the Customs Green Channel without having to stop to declare and pay the duty/GST for the goods at the Customs Tax Payment Office.
Related Story
New Customs app makes paying duties, GST easier
4. WHAT HAPPENS IF A TRAVELLER IS CAUGHT FOR NOT DECLARING GOODS PURCHASED ABROAD?
Travellers who are stopped at the checkpoints for not declaring goods purchased abroad with values exceeding their GST relief quantum will be referred to Singapore Customs. The GST due is collected from the travellers, with an advisory to pay GST for goods exceeding their GST relief.
Moreover, failure to declare the value of your purchases is an offence under the Customs Act and the GST Act. Offenders may be prosecuted in court, fined up to $10,000 and jailed for up to three years.
5. IF A TRAVELLER BUYS A BAG FROM A DUTY-FREE SHOP IN CHANGI AIRPORT WHILE LEAVING SINGAPORE, WILL HE/SHE BE TAXED ON THE BAG UPON ARRIVAL BACK TO THE COUNTRY?
The newly purchased bag is subject to GST if it exceeds the traveller's GST relief amount.
6. IS THE ITEM STILL SUBJECT TO GST IF THE TRAVELLER REMOVES THE PRICE TAG/PACKAGING AND USES THE ITEM BOUGHT OVERSEAS IMMEDIATELY?
These items are considered as new articles and are subject to GST if the traveller's GST relief amount is exceeded when the new items are brought into Singapore.
7. DO TRAVELLERS STILL HAVE TO PAY GST IF THEY HAVE ALREADY PAID SALES TAX FOR AN ITEM OVERSEAS AND DID NOT CLAIM TAX REBATE?
GST is applicable for items imported into Singapore regardless of whether foreign sales tax was paid for the items overseas as the items will be consumed in Singapore.
8. ARE GOODS SHIPPED BACK SEPARATELY (FROM SAME TRIP) ALSO SUBJECT TO GST?
For goods imported by post, a GST relief amount of up to $400 per shipment is granted. Where the value of the shipment exceeds $400, GST is payable on the total value of the shipment.
Labels: Reference
Trades (19 Jan 2018)
Jumbo reduced 0.61
Sheng Siong sold 0.95 on a par
CapitaMall Trust added 2.04
CapitaCom Trust added 1.91
Ascendas Reit added 2.75
Frasers L&I Tr added 1.14
Perennial Hldgs added 0.88/0.875
Rowsley added 0.126
Yongnam added 0.34
Best World added 1.32
Alliance Mineral added 0.41/0.405
Bumitama Agri added 0.745
Sheng Siong sold 0.95 on a par
CapitaMall Trust added 2.04
CapitaCom Trust added 1.91
Ascendas Reit added 2.75
Frasers L&I Tr added 1.14
Perennial Hldgs added 0.88/0.875
Rowsley added 0.126
Yongnam added 0.34
Best World added 1.32
Alliance Mineral added 0.41/0.405
Bumitama Agri added 0.745
Labels: Live Trading Records
18 January 2018
Trades (18 Jan 2018)
CityDev stopped out remainder at 13.26 at a profit
Frasers Cpt reduced 2.23 at a profit
Far East HTrust sold 0.735 at a profit
SingHoldings added 0.445
CapitaMall Trust added 2.04/2.03
CapitaCom Trust added 1.93/1.92/1.91/1.90
Frasers L&I Tr added 1.14
Perennial Hldgs added 0.88
Yongnam added 0.34
800 Super added 1.20
Bumitama Agri added 0.75
Best World added 1.34
Hong Leong Fin added 2.73
KimHeng Offshore bought 0.097
Hyflux added 0.38
US: AMGN - AMGEN INC stopped out at 185.80 at a profit
US: D - DOMINION ENERGY INC stopped out at 74.65 at 1R loss
US: SYMC - SYMANTEC CORP stopped out at 27.04 at 1R loss
Frasers Cpt reduced 2.23 at a profit
Far East HTrust sold 0.735 at a profit
SingHoldings added 0.445
CapitaMall Trust added 2.04/2.03
CapitaCom Trust added 1.93/1.92/1.91/1.90
Frasers L&I Tr added 1.14
Perennial Hldgs added 0.88
Yongnam added 0.34
800 Super added 1.20
Bumitama Agri added 0.75
Best World added 1.34
Hong Leong Fin added 2.73
KimHeng Offshore bought 0.097
Hyflux added 0.38
US: AMGN - AMGEN INC stopped out at 185.80 at a profit
US: D - DOMINION ENERGY INC stopped out at 74.65 at 1R loss
US: SYMC - SYMANTEC CORP stopped out at 27.04 at 1R loss
Labels: Live Trading Records
Trades (17 Jan 2018)
SGX sold 7.76 at a profit
Riverstone sold 1.10 at a profit
SingMedical sold 0.60 at a profit
CapitaMall Trust added 2.04
ParkwayLife Reit added 2.93
Hock Lian Seng added 0.51
Lum Chang added 0.375
Yongnam added 0.345
Rowsley added 0.127
Best World added 1.34
Hong Leong Fin added 2.75
Sunright added 0.88
ThaiBev bought 0.925
US: USB - US Bancorp stopped out at 56.50 at a profit
US: SCHW - Schwab (Charles) Corp stopped out at 54.56 at a profit
Riverstone sold 1.10 at a profit
SingMedical sold 0.60 at a profit
CapitaMall Trust added 2.04
ParkwayLife Reit added 2.93
Hock Lian Seng added 0.51
Lum Chang added 0.375
Yongnam added 0.345
Rowsley added 0.127
Best World added 1.34
Hong Leong Fin added 2.75
Sunright added 0.88
ThaiBev bought 0.925
US: USB - US Bancorp stopped out at 56.50 at a profit
US: SCHW - Schwab (Charles) Corp stopped out at 54.56 at a profit
Labels: Live Trading Records
