Exploring the Geographical Focus of Singapore's Major Banks: A Look at DBS, UOB, and OCBC

 DBS, UOB, and OCBC are major banks in Singapore that offer a range of financial services in various countries. Each bank has its unique strengths and areas of focus.

DBS is the largest bank in Singapore with a strong presence in Asia. It has operations in 18 countries and offers services in corporate and consumer banking, wealth management, and treasury and markets. DBS has a significant presence in Greater China, Southeast Asia, and South Asia. It has been expanding its presence in India and Indonesia in recent years.

UOB has a strong presence in Southeast Asia and China, with operations in 19 countries. It provides a range of financial services, including commercial and corporate banking, personal banking, wealth management, and insurance. UOB has a strong focus on serving small and medium-sized enterprises (SMEs) and has been expanding its operations in Vietnam, Thailand, and Indonesia. Recent business strategic moves suggest that UOB seems to be focusing more on the ASEAN region.

OCBC is a regional bank with a presence in 18 countries. It offers a range of financial services, including consumer banking, wealth management, and corporate banking. OCBC has a significant presence in Singapore, Malaysia, and Indonesia, and has been expanding its presence in China, Hong Kong, and Vietnam in recent years. OCBC Bank has a history of acquiring banks, and its acquisition of Chinese banks is part of its strategy to expand its presence in North Asia. To see OCBC recent OCBC FY2022 results. 

Despite their geographical focuses, all three banks have a significant presence in Singapore and the surrounding region. They are also involved in various initiatives, such as DBS's program for start-ups and OCBC Bank's acquisition strategy to expand its presence in North Asia.

SATS Rights Issue

Update 28th Mar 2023

Stan Weinstein
30-week Moving Average

chart created using trading view

Update : 9th Mar 2023

Expected date of allotment. issuance and crediting of Rights Shares: Wednesday. 29 March 2023 

Expected date of commencement of trading of Rights Shares: Wednesday, 29 March 2023 

Expected date for refund of unsuccessful applications (if made through CDP): 29 March 2023 

Update : 7th Mar 2023

based on some ground work, the rights are supposed to be credited into CDP account already - since yesterday

while using ATM (see how to subscribe for rights step-by-step) is a common choice before for subcribing the shares, it appear that investors will receive a letter soon with a QR Code for rights subscription with PayNow as a payment option - see picture below:

Valuation (Target Price)

Based on CGS-CIMB analyst view, here, in summary:

The target price for SATS was previously set at S$3.21 (WACC: 7.7%) using DCF analysis, assuming a rights issuance of 314 million shares at a discounted price of S$2.55 per share, which was 15% lower than the market price of S$3.00 at that time. However, the recent increase in the number of shares issued and a lower subscription price of S$2.20 has led to a revision of the DCF-based target price for SATS, which is now S$3.10.

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Update 3rd Mar 2023:

SATS rights subscription schedule:

Trading of Rights : 7th March 2023 - 15th March 2023

Subscription of Rights Shares:  7th March 2023 - 21st Mar 2023 (via ATM - generally)

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SATS Ltd. has announced a renounceable, underwritten rights issue to raise gross proceeds of approximately S$798.8 million to partially fund the acquisition of Worldwide Flight Services (WFS). The rights issue will be priced at S$2.20 per share, and SATS will issue 363.1 million new shares via the rights issue. The record date for the rights issuance is March 2, 2023,.

SATS will trade ex-rights on March 1, 2023. To be eligible to subscribe to the rights issue, investors must hold SATS shares by the record date of March 2, 2023.

Based on general estimates - details of the rights trading period and subscription deadline have yet to be disclosed, _expect the rights trading period to be between the second and third week of Mar 2023_ given the expected acquisition completion date. 

Subsciption time period of main shares using the rights have yet to be determined / announced as of now.

Reference:

SATS rights issue to fund WFS purchase

Post on SATS on 22nd Feb

OCBC FY2022 Results

image source: wikipedia

OCBC (Oversea-Chinese Banking Corporation) Bank has released their latest financial results this morning (24th Oct 2023). For FY2022, Oversea-Chinese Banking Corporation (OCBC) has achieved record earnings of $5.75 billion, marking an impressive 18% increase from the previous year; and are generally in-line with market expectations. OCBC dividend history as follows:

Dividend	Ex Date	Record Date	Payment Date	Details
DIVIDEND	2023-05-08	2023-05-09	2023-05-19	SGD 0.40
DIVIDEND	2022-08-12	2022-08-15	2022-08-25	SGD 0.28
DIVIDEND	2022-05-06	2022-05-09	2022-05-20	SGD 0.28
DIVIDEND	2021-08-13	2021-08-16	2021-08-26	SGD 0.25
DIVIDEND	2021-05-12	2021-05-14	2021-06-29	SGD 0.159

One of the significant takeaways from the announcement is the increase in the final dividend to 40 cents per share (making it a total of 80 cents for the full year), which is a 40% increase from the previous year's dividend. With the increase in the final dividend, the bank's dividend policy has also been made public. that OCBC intends to pay out 50% of its earnings as dividends, which is in line with DBS and UOB. This is a positive development for investors who are looking for attractive investment opportunities within the sphere of blue chip companies.

The increase in the final dividend and the new dividend policy are important developments for investors looking for stable dividends. OCBC's management has also stated that they do not expect to cut the dividend for the full year of 2022, which provides investors with added assurance that the bank is committed to maintaining a stable dividend payout.

With a 6.4% yield based on the last traded price, OCBC appears to be the cheapest among the three banks in terms of dividend yield and PB ratio. Investors can expect a dividend of approximately 80 cents in 2023 (vs 28 + 28 totaling 56 cents in 2022), assuming that there are no externalities that could lead to the regulators to limit their dividends. 

OCBC has a return on equity (ROE) of approximately 11%, making it one of the more leveraged banks to the Hong Kong and China market. The reopening of Hong Kong and China's economies could benefit OCBC as the bank has Wing Hang Bank and a few acquisitions in China. While UOB is more focused on the ASEAN markets, OCBC is better positioned in the North Asian markets, specifically China and Hong Kong. To know more about Singapore Banks geographical focus, go here.

                 Chart 1: OCBC Price-to-Book ratio from 2013 to current (2023) - chart created using TradingView

In conclusion, OCBC's latest financial results and dividend policy are a positive development for investors who are looking for stable dividends (barring unforeseen circumstances). With a dividend yield of 6.4% on the last traded price (in contrast to both DBS and UOB dividend of about 4.5%) and PE ratio of 8x, Price to Book ratio of 1.1, OCBC appears to be the cheapest among the three banks at this

 OCBC's management has stated that they do not expect to reduce the dividend unless such externalities occur. As such, OCBC could be an attractive investment opportunity for investors who are looking for stable dividends and exposure to North Asian markets.

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Chart Update: 7th Mar 2023

chart created using investing .com

Both DBS and OCBC staged a possible reversal - as indicated by first Heiken Ashi Candlestick as of this morning 7th Mar 2023 (11:25 am)

Heiken Ashi Candlestick

In this blog post, I would like to talk about Heiken Candlestick which is one of my favorite candlestick pattern technique to help me to stay in trend until the momentum slows and / or start to turn.

A recent example: SIA run up (about 5th Jan 2023 to 1st Feb 2023)

Chart 1: A recent example: SIA run up (about 5th Jan 2023 to 1st Feb 2023) of Trending - chart created using TradingView

Heiken Ashi candlesticks are a type of charting technique that can be used to identify trends in the financial markets. Heiken Ashi candles are like regular candles but are calculated differently. One can take a look at the actual formula here: Heikin-Ashi Chart - Wikipedia

Chart 2: Period of Trending - where Heiken Ashi helps one to stay in position (taking 2 consecutive HA candlesticks as exit signal - chart created using TradingView

One of the strengths of the Heiken Ashi candlestick is that it is good at keeping a trader in a trend. When the market is trending, the Heiken Ashi candlestick will show a series of green (bullish) or red (bearish) candles, depending on the direction of the trend. Since the Heiken Ashi candlestick takes into account the average price of the current period, it smooths out the price action and helps traders stay in a trend for longer periods.

However, one of the weaknesses of the Heiken Ashi candlestick is that it is not suitable for sideways markets. In a sideways market, the Heiken Ashi candlestick will produce a series of alternating green and red candles, which can be misleading and confusing for traders. The Heiken Ashi candlestick is designed to identify trends, and it may not be effective in identifying sideways markets.

Traders who use Heiken Ashi candlesticks must be aware of its strengths and weaknesses. They should use other technical indicators to confirm the signals generated by the Heiken Ashi candlestick. For example, traders can use moving averages or trend lines to confirm the direction of the trend. They should also be aware of the current market conditions and adjust their trading strategies accordingly.

In conclusion, The Heiken Ashi candlestick is effective for identifying trends and maintaining them for longer periods. However, it's unsuitable for sideways markets, so traders should use complementary indicators. They should be aware of its pros and cons and adjust their strategies accordingly.

SATS Rights Issue - 22nd Feb 2023

image source: wikimedia.org

22nd Feb 2023: SATS, a Singapore-based ground handling and in-flight catering service provider, plans to raise S$798.8 million by issuing 363.1 million new shares at S$2.20 apiece via a rights issue. The new shares will represent 32% of the existing share capital of the company. The rights issue will be on the basis of 323 rights shares for every 1,000 shares held by shareholders on the record date (2nd Mar 2023).

According to a statement by the company, the net proceeds from the rights issue will be used to partially fund the WFS acquisition.

Reference:

The Business Times: SATS to issue 363.1 million new shares at S$2.20 apiece via S$798.8m rights issue 

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A subsequent update (28th Feb 2023) on SATS rights ex date / trading dates and subscription

Keppel Corp - distribution of SembMarine shares

Update: 23rd Feb 2023

Ex-Entiltlement of 1:19.1 SembCorp Marine shares

Based on 22nd Feb 2023 SembCorp Marine transacted price of about 0.135 (note: Sembcorp Marine has been added to the MSCI Singapore Free Index (SIMSCI INDEX) at the close on 1 March which explains the price reversal upwards from the day before, post Keppel Corp announcement of in-specie distribution), the entitlement value works out to be 19.1 x 0.135 which works out to be approximately $2.58 .

This, versus the live KeppelCorp price correction of $1.80 as of 11:40 am today vs the theoretical amount of $2.58 seems reasonable - considering that the KepCorp holders will receive 19,100 shares for every 1,000 shares of Keppel Corp. However, not unexpectedly, some Keppel Corp holders might not want to keep SembMar shares - and it was sold down from opening price of about 0.135 to current price of 0.126-0.127 (as of 11.45 am)

Chronicles of events

Keppel Corp declared on February 16, 2023, that for every share held, shareholders would receive 19.1 SembCorp Marine (Sembmarine) shares. The distribution of these shares was approved by the Singapore Exchange Securities Trading Limited (SGX-ST) on February 22, 2023.

On February 16, 2023, Sembcorp Marine shareholders voted in favor of the merger with Keppel O&M, with over 95% of the votes in favor. The news of this announcement was made public on February 17, 2023, following the proposal of the combination between the two companies back in October 2022.

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Keppel Corporation has announced a distribution of 19,100 SembMarine shares for every 1,000 Keppel shares based on Straits Times’ news release 17th Feb 2023, Friday. 

The terms of the deal, which were first announced in April, were subsequently changed in October to make it more enticing to Sembmarine shareholders, who would now receive a slightly bigger 46 percent share in the new company compared to the prior arrangement's 44 percent. Keppel will obtain the remaining 54%, of which it will keep 5% and give its shareholders a distribution of 49% of the expanded Sembmarine share base.

Keppel Corporation and Sembcorp Marine have been involved in a merger, which was aimed to create a premier global player in offshore renewables, new energy, and cleaner OM solutions. The proposed merger between Keppel Offshore Marine (KOM) and Sembcorp Marine (SMM) was designed to enhance the competitiveness of the new company, as it focused on new orders in the renewables space. 

Moreover, Sembcorp Marine has recently received shareholders' approval (over 95%) to merge with Keppel Corps offshore and marine unit.

See ST’s announcement for more details:

Keppel announces distribution of 19,100 SembMarine shares for every 1,000 Keppel shares

Brief Notes on Delfi Limited

Delfi Limited is a Singapore-based company engaged in the manufacture and distribution of chocolate confectionery products, as well as an investment holding company. It was established in 1984 as Petra Foods Pte Ltd. by John Chuang and his brothers. The company is known for its notable chocolate brands, such as Van Houten, Delfi, SilverQueen, Ceres, Goya, and Knick. 

Its chocolate confectionery products are marketed and distributed in Indonesia, the Philippines, Malaysia, Singapore, and internationally.

Delfi Limited is listed on the Mainboard of the Singapore Exchange with the stock code SGX: P34. The company's financial statements and dividend announcements for the full year ended December 31, 2022, were released on January 30th, 2023.

Back in 2012, Petra Foods entered into an agreement with Barry Callebaut where the latter would acquire the cocoa ingredient business of the former for Delfi to focus on the chocolate confectionary business.

Delfi Limited's manufacturing and distribution reach covers over 17 countries, including Hong Kong, Australia, Thailand, and China. The company's subsidiaries manufacture and distribute branded consumer products, in addition to chocolate confectionery products.

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Chart Update : 9th Mar 2023

Chart 1: Delfi Chart Update 9th Mar 2023

The Volatility Contraction Pattern

Mark Minervini is a well-known stock trader and author who has developed a number of strategies for identifying potential winning trades in the stock market. One of his strategies is known as the "Volatility Contraction Pattern," or VCP for short.

The VCP is a technical analysis pattern that identifies stocks that have undergone a period of high volatility, followed by a period of lower volatility as the stock price consolidates. According to Minervini, this pattern can be a strong indicator of an impending price breakout and can help traders identify potential buying opportunities.

chart created using trading view

Chart 1 - An Example of Volatility Contraction Pattern in 2 Different Stages (Vis Dynamics as of 17th Feb 2023) - chart created using Trading View 

To identify the VCP, Minervini looks for stocks that have experienced a sharp price rise followed by a period of price consolidation. During the consolidation period, the stock's price range narrows and trading volume typically declines. This indicates that the stock is in a period of lower volatility, which is often followed by a strong price move in one direction or the other.

Minervini emphasizes the importance of paying attention to the stock's overall price trend and momentum when looking for VCP patterns. He advises traders to look for stocks that have strong uptrends and are in a position to continue rising after the period of consolidation ends.

source: twitter acct @GrowthofWealth

figure 1: Variation of VCP pattern

While the VCP is not a foolproof trading strategy, it has been successful for Minervini and many of his followers. However, as with any trading strategy, it is important to do your own research and analysis to determine whether a particular stock is a good fit for your portfolio.

Drawing from my personal experience, it's clear that combining VCP analysis with a thorough examination of the fundamentals will increase your chances of achieving success in trading / investing. While this has been mentioned before, it's worth reiterating that the overall market conditions also play a crucial role in determining success. It may seem like an obvious point, but it's worth emphasizing how important it is to pay attention to the broader market trends and factors when making trading decisions. By keeping these factors in mind, you can increase your odds of success and achieve your trading goals.

In conclusion, the Volatility Contraction Pattern (VCP) is a technical analysis pattern developed by Mark Minervini that can help traders identify potential buying opportunities in stocks that have undergone a period of high volatility followed by a period of lower volatility and consolidation. However, it is important to exercise caution and do your own analysis to determine whether a particular stock is a good fit for your portfolio.

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footnote: 

The Ascending Triangle Chart Pattern

chart created using trading view

Chart 2: Food Empire Chart from Aug 2020 to Apr 2021 making a recovery post Covid19 correction in Mar 2020 period

Upon examining VCP, it is difficult not to draw a comparison to the Ascending Triangle Chart pattern. These two patterns share similarities, such as the reduction of volatilities towards the end of their formation, just prior to a breakout.

Ascending Triangle chart pattern is a bullish continuation pattern that typically forms during an uptrend. In this pattern, the stock's price will reach a resistance level multiple times, but each time it will fail to break through. Meanwhile, the stock's lows will be gradually rising, forming a trendline. These trendlines and resistance levels form a triangle shape on a chart, with the resistance level forming the horizontal line and the trendline forming the diagonal line. Once the stock finally breaks through the resistance level, it is expected to continue its upward trend.

What Munger Might Tell His 20 Year Old Self

image source: wikimedia common

Charlie Munger, who is a business partner and close friend of Warren Buffett. is a man of wisdom and experience, having built a successful career as an investor and businessman. Munger is 99 years old now and would have a lot of insights to share with his younger self. 

Here are a few things that Charlie Munger might say to his 20-year-old self.

First and foremost, he would probably emphasize the importance of education. Munger has been a lifelong learner himself and believes that the best investment one can make is in oneself. He would advise his younger self to study a broad range of subjects and develop a multidisciplinary approach to problem-solving.

Another lesson that Munger might share with his younger self is the importance of patience. Munger is known for his long-term investment approach, which has yielded great returns over time. He would encourage his younger self to take a similar approach in all areas of life, understanding that success often requires a long-term commitment.

Munger would also likely to advise his younger self to be open-minded and embrace new ideas. He has often spoken about the importance of avoiding the trap of confirmation bias and seeking out diverse perspectives. This would be especially relevant for a 20-year-old, as Munger believes that it's important to continually learn and grow throughout one's life. 

Lastly, Munger would stress the importance of ethical behavior. Throughout his career, Munger has been a strong advocate for doing what is right, even when it's not easy. He would encourage his younger self to always act with integrity, even if it means making difficult choices. 

In conclusion, if Charlie Munger could speak to his 20-year-old self, he would offer a wealth of valuable advice. From the importance of education and patience to the need for open-mindedness and ethical behavior, Munger's insights are relevant to anyone past, present and future, who are looking to achieve success and fulfillment in their lives.

More than 95% of Sembmarine shareholders approve Keppel O&M merger

On February 16th, 2023, it was reported that more than 95% of the shareholders of Sembcorp Marine (Sembmarine) approved the proposed merger with Keppel Offshore & Marine (Keppel O&M) during an extraordinary general meeting. The merger is expected to create a stronger entity that can better compete in the global market.

The merger between Sembmarine and Keppel O&M was first announced in August 2022, and the two companies signed a non-binding agreement to combine their businesses in November 2022. The merger would create the world's largest offshore and marine engineering group, with a combined order book of approximately SGD 14.5 billion.

The proposed merger has been supported by the boards of both Sembmarine and Keppel O&M, as well as the Singapore government, which is a significant shareholder in both companies. The merger is also expected to result in cost savings and operational efficiencies.

While more than 95% of Sembmarine shareholders approved the merger, the deal is still subject to regulatory and other approvals, including from the Competition and Consumer Commission of Singapore. The companies aim to complete the merger by the end of 2023.

Proposed Merger of ESR-reit and Ara Logos Logistics Trust By Way of a Trust Scheme of Arrangement

The proposed S$1.4 billion merger, which will be effected by way of a trust scheme of arrangement, will see ESR-REIT acquiring all of Ara Logos Trust's units in exchange for a combination of cash and new units [1].

One of the main concerns is the potential conflict of interest that may arise from both REITs having overlapping mandates in terms of asset pipeline, tenants, and operational network, as well as financial resources, given they have the same sponsor. This may cause competition for new assets and financial resources from the group [2].

However, some analysts see more merits from the REITs merging than on a standalone basis [3]. The backstop, which gives certainty to the issuer and acts as a form of insurance to unitholders, is another factor that may alleviate concerns regarding the merger.

[1] BT Explains: What you need to know about the ALog Trust-ESR-Reit merger

REITS vs Stapled Trust

Real estate investment is a popular way for investors to diversify their portfolios and generate passive income. Two common ways to invest in real estate are through Real Estate Investment Trusts (REITs) and Stapled Trusts. While both of these investment vehicles offer exposure to the real estate market, they differ in several key ways.

REITs are investment vehicles that own and operate income-producing real estate properties, such as office buildings, shopping centers, and apartments. They are required to distribute at least 90% of their taxable income to their shareholders as dividends and are taxed as pass-through entities. This means that they are exempt from federal income tax at the corporate level and their income is only taxed at the individual level. REITs can be publicly traded on stock exchanges or privately held.

On the other hand, Stapled Trusts are a type of investment vehicle that combines the ownership of real estate assets with the ownership of the management company. This structure is achieved by stapling together the shares of a REIT with the shares of the management company. The management company then provides services to the REIT, such as property management and leasing, and earns fees from the REIT. The income generated from the REIT is then distributed to the shareholders in the form of dividends.

One of the main differences between REITs and Stapled Trusts lies in their legal structure. REITs are separate legal entities from their management companies and are owned by the shareholders of the REIT. The management company of a REIT is typically hired by the board of directors of the REIT to provide management services. On the other hand, Stapled Trusts combine the ownership of the assets with the ownership of the management company. This structure allows the management company to have a more direct influence on the operations and performance of the real estate assets.

Another key difference between REITs and Stapled Trusts is the scope of their investment strategy. REITs are required to invest at least 75% of their assets in real estate, while the remaining 25% can be invested in other assets, such as cash and securities. This restriction means that REITs are more focused on real estate investments and have a narrower investment scope. In contrast, Stapled Trusts have a broader investment scope and can invest in a wider range of real estate assets and other securities.

Stapled Trusts also tend to be more diversified than REITs. REITs typically specialize in one particular type of real estate asset, such as office buildings or shopping centers. In contrast, Stapled Trusts can invest in a variety of real estate assets and can also pursue other business ventures. This diversification can help reduce the risk of investment losses.

While both REITs and Stapled Trusts are required to distribute a significant portion of their income as dividends to their shareholders, the way in which they do so can be different. REITs are required to distribute at least 90% of their taxable income to their shareholders as dividends, while Stapled Trusts may have more flexibility in their dividend distributions.

Ultimately, the choice between investing in REITs or Stapled Trusts will depend on the individual's investment goals, risk appetite, and understanding of the different structures and investment strategies. It is important for investors to conduct their due diligence and research the investment opportunities available in the market before making any investment decisions.

In conclusion, both REITs and Stapled Trusts offer investors exposure to the real estate market, but they differ in several key ways. REITs have a narrower investment scope and a simpler corporate structure, while Stapled Trusts have a broader investment scope and a more complex corporate structure. As with any investment, it is important for investors to do their research and understand the risks and rewards before investing in either of these groups of instruments.

Boustead Singapore General Offer for Boustead Project

 image source: wikipedia

22nd Feb 2023 Update:

Boustead Singapore has made a revised offer of 95 cents to acquire Boustead Projects, which is a 5 cents improvement from its original offer of 90 cents. 

However, the new offer still falls 4 cents short of Boustead Projects' last traded price of 99 cents as at the close of 21st Feb 2023. 

The revised offer is considered final, said Boustead Singapore, unless a competitive situation arises. 

SIAS president David Gerald has called on Boustead Singapore to increase its offer to a level closer to Boustead Project's book value, according to some analysts estimates, Boustead Project RNAV is pegged at about SGD1.80.

16th Feb 2023 Update:

Securities Investors Association (Singapore) (SIAS) had previously engaged with Boustead Singapore Limited, and as of 16th February 2023, SIAS is urging the company to improve its privatisation offer for its subsidiary, Boustead Projects.

Boustead Singapore has launched a voluntary unconditional offer to privatise and delist Boustead Projects from the Mainboard of SGX-ST, offering 90 cents per share; the parent company intend to focus on rebuilding its business as a private limited company. However, SIAS has raised concerns about the offer, and is urging Boustead Singapore to improve the offer made to shareholders of Boustead Projects.

It is worth noting that Boustead Projects has established a private business trust, Boustead Industrial Fund, in Singapore, to manage certain investments in logistics, business parks, and industrial properties, and achieve a stable flow of recurring income and capital growth for its unitholders. Boustead Projects is expected to record a disposal gain from its initial injection of properties into Boustead Industrial Fund.

In the past, SIAS has posed questions to Boustead Singapore and has recognized the company for being transparent and for sustainability efforts.

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A general offer was made by Boustead Singapore to purchase all of the outstanding shares of Boustead Projects for S$0.90 each. The offer represents a premium of almost 7.8% over the most recent share price traded as of February 3. 

Boustead Projects' revalued NAV is estimated by the brokerage to be $1.79, or almost twice the offer price. 

Analysts predict an 11.5% EPS accretion for FY24F if the deal closes, and are optimistic about the deal. The proposed acquisition, according to Boustead Singapore, would free it from the additional responsibilities associated with being a listed company on the Mainboard of the SGX-ST, allowing it to concentrate on rebuilding its operations, including Boustead Project's Engineering and Construction business, as a private limited company.

Brief notes on Jumbo Seafood

image source: https://www.jumbogroup.sg/

Jumbo Seafood is a Singapore-based restaurant chain that specializes in fresh seafood. A group of friends founded Jumbo Seafood in 1987, and it has subsequently spread to other Southeast Asian nations. East Coast Seafood Centre is one of the several physical locations for Jumbo Seafood Singapore. Other locations include Upper Circular Road, Merchant Road, Orchard Turn, and Dempsey Road. The regional reach of Jumbo Seafood has also increased to include cities like Shanghai, Beijing, Taipei, and Ho Chi Minh City with the latest entry into Cambodia in a news announcement dated 23rd Dec 2022[1].

They provide an a la carte menu with items including mocha pork ribs, seafood fried rice, and beancurd cooked with a variety of seafood. It is a well-known and respected restaurant chain with loyal customers.

A central kitchen was established in 2008 to perform research and development in order to attain consistency in food quality (and via R&D) which is located in Kaki Bukit, allowing the Group to streamline work procedures.

This aided the business in coming up with and implementing a wider variety of culinary innovations to fulfill the shifting needs of its customers and quite importanting, towards its franchasing and expansion efforts.

Over the years, Jumbo Seafood has won a number of major culinary and service awards. These include, the Ctrip Food Award 2016 - Singapore Choice: JUMBO Seafood (Dempsey Hill)] and the Singapore Tatler's Best of Singapore 2018 - Excellent Service Award 2018, TripAdvisor Certificate of Excellence 2017, among others. [2]

[1] Jumbo opens first franchised seafood outlet in Cambodia

[2] Jumbo Seafood Story

MM2 Asia Update: Feb 2023

mm2 Asia Ltd. is a film and television content production company based in Singapore. The company operates through two segments: Core Business, which includes the production, distribution, and sponsorship of content, and Post Production, which includes audio post-production and equipment rental services. In addition, mm2 Asia is one of the key cinema operators in Malaysia and Singapore, owning and operating mmCineplexes and Cathay Cineplexes. In recent news, the company has announced a proposed renounceable underwritten rights issue to raise net proceeds of about SGD 52.2 million for the payment of the medium-term note due on April 27, 2021, and for general working capital and operations. The company has faced challenges due to the Covid-19 pandemic, which impacted all its businesses, but its share price has been stable over the past three months and hovering between 0.042 and 0.046 as of 14th Feb 2023

References: [1] https://www.forbes.com/companies/mm2-asia/ [2] https://sginvestors.io/sgx/stock/1b0-mm2-asia/analyst-report [3] https://www.marketscreener.com/quote/stock/MM2-ASIA-LTD-18892419/news/Mm2-Asia-FY2022-Annual-Report-40976633/ [5] https://simplywall.st/stocks/sg/media/sgx-1b0/mm2-asia-shares [6] https://www.businesstimes.com.sg/companies-markets/hot-stock-mm2-asia-tumbles-308-after-news-of-potential-investor-proposed-rights [7] https://www.smallcapasia.com/mm2-asia-stock-is-it-a-hidden-gem-now/ [8] https://www.tradingview.com/symbols/SGX-1B0/financials-overview/