About ITP

We believe that investing in stocks can be both rewarding and fun for an individual investor. Our confidence comes from the many years of investing and we are happy to share our investing philosophy along with some tools to start you on your journey. NIGEL CHEW • SENIOR PARTNER

ThaiBev – A Regional Beverage Giant in the Making

T hai Beverage Public Ltd listed on the SGX in May 2006 and had a low corporate profile until its audacious bid for Fraser & Neave Ltd (F&N) in 2012. ThaiBev caused a stir when it along with TCC Assets, privately acquired 22% of Fraser & Neave and 8% of Asia Pacific Breweries Ltd (APB) [...]

2018-05-13T00:14:33-08:00May 2nd, 2018|Consumer Discretionary, Food and Beverage|0 Comments

ComfortDelGro’s Prospects Bright as Singapore Operations Shine!

ComfortDelGro Corporation Ltd is one of the largest land-transport companies in the world, and a constituent of the Straits Times Index (STI). For 2016, it had revenues of S$4.05 billion and profits of S$317 million. ComfortDelGro operates in seven countries but Singapore remains its biggest market accounting for almost 60% of its profits. Viewed by [...]

2018-07-14T02:44:06-08:00March 21st, 2018|Consumer Discretionary, Technology, Transportation|0 Comments

IHH’s Gleneagles: Riding the Healthcare Wave into China

IIHH Healthcare Bhd is the world’s second-largest healthcare provider by market capitalization. They are dual-listed on the SGX and the Bursa. IHH Healthcare has three operating units: Parkway Pantai, which owns 32% of ParkwayLife REIT; Achibadem Holdings, which is 60% owned by IHH; and IMU Health. As of 2016, Parkway Pantai accounted for 62% of [...]

2018-03-02T22:33:35-08:00December 11th, 2017|Healthcare, Hospitality|1 Comment

ComfortDelgro and the Evolving Taxi Business in Singapore

Taxi business in Singapore has in short order gone from the lucky-if-you-can-find-one to a pay-and-we-will-find-one model.      Author's note: This article was first published in 17 July 2017. Subsequent updates to the article did not alter the original. In this new model, Uber and Grab woo commuters with promotions galore to gain [...]

2018-08-12T03:06:52-08:00December 2nd, 2017|Transportation|1 Comment

Keppel T&T – a new beginning?

Keppel T&T comprises of two operating business units: Logistics and Data Centres. The two are a study in contrasts! As of 2015, the Logistics Division accounted for 70% of annual revenue and 5% of profits, while the Data Centre Division accounted for 30% of annual revenue and 70% of profits. This lopsided figure is in [...]

2018-11-23T22:38:35-08:00December 1st, 2017|Logistics, Transportation|0 Comments

Sarine Technologies – An Opportune Moment to Invest.

Sarine Technologies is headquartered in Israel and listed on SGX in 2005. They supply precision technology products used to evaluate measure and grade diamonds. The diamond industry refers to mining and extraction as upstream; cutting and polishing as midstream; and retail as downstream. Sarine is currently focused on the midstream where their [...]

2018-07-08T01:58:19-08:00October 17th, 2017|Technology|0 Comments

Far East Orchard Ltd. Growing its Footprint in Europe

Far East Orchard Ltd is a member of Far East Organization. Formerly known as Orchard Parade Holdings Ltd, the company was renamed Far East Orchard Ltd in 2012. Since then the company has morphed from a low-key, local hotel-operator to an international hospitality operator and owner, with a diversified real-estate portfolio comprising serviced apartments, medical [...]

2018-03-04T06:44:09-08:00September 8th, 2017|Hospitality, Property Development|0 Comments

SBS Transit Ltd: Profits to Surge with Opening of Downtown Line

SBS Transit is a household name that touches millions of lives every day through their extensive bus and rail operations. In recent years their profits have been tepid, but the period ahead promise to bring sizzle to the bottom-line. First a quick look at the changes in policy introduced to improve public [...]

2018-01-22T06:08:00-08:00July 15th, 2017|Transportation|1 Comment

Delfi Limited: JV with Orion and Yuraku for Chocolate Confectionery to Boost Profits.

Delfi Limited (formerly Petra Foods Limited) manufactures, markets and distributes chocolate confectionery in its core markets of Indonesia, Philippines and Malaysia. Delfi’s revenue for 2016 was U$402 million, split between Own Brands (U$262 m) and Agency Brands (U$139 m), of which Indonesia contributed 72%, while Philippines and Malaysia contributed about 12% each. Profit margins at [...]

2017-11-26T01:35:51-08:00May 2nd, 2017|Food and Beverage, Medium Term|0 Comments

Hong Leong Asia Ltd: Yuchai’s Strong Performance the Only Bright Spark

Hong Leong Asia Ltd., is an industrial conglomerate comprising Diesel Engines (Yuchai), Building Materials (Tasek Cement), Consumer Goods (Xinfei), Air-Conditioning (Airwell) and Packaging (Rex). Of these Yuchai S$150 m,  and Tasek S$ 34 m are profitable; while  Xinfei (S$128 m), Airwell (S$11 m) and Rex (S$6 m) are in the red. Interestingly Xinfei, Airwell and [...]

2017-10-01T03:14:57-08:00April 20th, 2017|Multi-Industry, Transportation, Turnaround|0 Comments