Soon Heng Rojak

For those who lived and are living in Toa Payoh will know Soon Heng Rojak. Soon Heng was first located at Silver Stream Coffee Shop 银川, next to the existing Blk 175 Toa Payoh Lorong 2. The Coffee Shop was demolished due to the construction of HDB Hub in the late 1990s. Soon Heng Rojak was then moved to a corner coffee shop at Blk 177 Toa Payoh Central. It is currently located at the basement food court of HDB Hub. At any one time during its operating hours, it would have a patron line formed.

After many years of missing this rojak due to long queue, I have the opportunity to eat Soon Heng rojak today. Still as good although it was not prepared by the boss himself. The queue was about 20 minutes. It is good because of the fine sugar and the prawn paste. For the 'youtiao' (fritters), I remember that the boss would toast the 'youtiao' in a small oven to make it crispy. Now, the 'youtiao' was probably toasted (didn't see it done), but was not as crispy as before as time has lapsed when the rojak was mixed. Due to its popularity, all ingredients are prepared in bulk, from pineapple, peanut, 'youtiao', tao pok, jicama etc. It is still good. Many critics have said this is one of the best Chinese rojak in Singapore. It is currently available at $3, $4, $5 and $6 portion.

Buffett Purchased Apple

One of the greatest investment news this week is the purchase of Apple stock by Berkshire Hathaway, the investment vehicle of Mr Warren Buffett who is known to dislike technology stock. His aversion of technology companies had led to his avoidance of the technology stock bubble and subsequent crashed in the late 1990s and early 2000s.

It is known that Mr Buffett prefers down to earth companies, such as newspaper, insurance and manufacturing entities that produced great profits with proven track record. It is also important to note that Mr Buffett would have high confidence over the management of the companies before his purchase. Hence, many observers were surprised that he had spent US$1 billion to purchase Apple.

I had my own share of mistakes made in purchasing technology stock, aka Creative Technology. Please see http://e21s.blogspot.sg/2015/11/creative-technology.html

If Mr Buffett had purchased Apple stock 5 years ago, I would probably have understood him. However, currently, I am puzzled why he feels that the stock is under priced when most of its products had already reached maturity, ie iPhone, iPad, MacBook etc. The only recent product is iWatch. How would this create the growth engine for Apple? Not forgetting, Apple had competitions from Windows, Google and Samsung. Perhaps Mr Buffett had found new ways to valuate technology companies. Perhaps it was a decision not made by Mr Buffett himself, but by his successors.

Apple is now (17 May 16) trading at about US$94 . At the time of purchase, which was a few months back, it could be purchased at more than US$100. Lets see its performance over time.

Alfa Romeo Brera

Alfa Romeo Brera

I saw this nice Alfa Romeo Brera in grey colour and dark rims. The rear of the car is beautifully curved and distinctive. The curvature is in one continuous loop which is difficult for family car when space is a consideration. But this is a coupe, hence beauty is emphasized more than functionality. The rear lights are also matching with the curves.

The front of the car is however a disappointment. The car is beautifully curve at the rear, but there is a break in the design when the head lights of the car are straight and the front bumper edge is sharp. I think the flatness of the front panel is to match the Alfa Romeo grille. Not many people fancy the grille design as it looks like a skeleton nose with the head lights as the eyes.

Alfa Romeo Giulia (from Alfa Romeo USA)

It would have been better if the Brera front has a more rounded, curved bumper and head lights like the Alfa Romeo Giulia although I must say I still find the grille difficult to accept.

I would give the rear a 9 marks out of 10. But the front is probably 4 out of 10.

SIA - Disposal

On 7 Jun 13, I wrote that I had bought SIA equity. I finally sold the equity on 11 May 16, about 3 years of holding, for a profit of approximately S$1200. I sold it at a price of S$11.59/share. There was a price hike on 11 May 16 as a result of outstanding financial performance in the last quarter. In its last quarter, profit was $224.7 Million. Reason cited was lowered global fuel price.

However, just 2 days later, on 13 May 16, the price of SIA equity plunged to S$11.00. This was because of investors fear on the intense competition from middle east airliners, such as Etihad and Qatar Airways. Within a time span of 2 days, investors' sentiments could change from bullish to bearish.

This reinforces my view that local equities generally perform cyclically. It is important to be content with the gain and exit when there is sudden exuberant on the performance.

Will I be interested in SIA? Possibility, if the price is right. Currently, the global market sentiment is not overly bullish and China is in bear territory. Hence, equity prices are going to be softening.

SIA dividend is between 2% to 3% annually depending on the company performance and the purchased price. SIA had announced a final dividend of 35 cents per share which is higher than average. Expecting a jump in share price prior to its book closing date.