Wednesday 31 January 2018

FYB-SG - Cashing out your Bitcoin (BTC) into SGD: Guide & Review

Thinking of cashing out your Bitcoin into SGD?
Alternative to Gemini? Yes, here you go.

Today, I will be doing a simple review of a local fiat-crypto exchange - FYB-SG.
I've actually created an account with FYB-SG some time ago, way before I've actually dipped my toes into the game of cryptocurrency. But I haven't been actually using this account till recently.

FYB-SG is a Singapore cryptocurrency exchange that have been operating since 2014. They have a really really simple platform, nothing much. No technical indicators, no funny pairs. Only Bitcoin (BTC).

For 2FA, you can use Google Authenticator for FYB-SG, simply click on 'Security' after registration and enable 2FA.

The price of Bitcoin does not differ too much from the big exchange in the market as well. It might even be slightly more after you've converted the price of BTC from USD to SGD due to the spreads.

It's actually pretty simple to navigate around and do simple transactions like depositing and withdrawing your fiat/crpyto.

Here's a simple guide for both people that are cashing in/out:
1. To those who would like to get into the crazy game, after you've created an account with them, click onto 'Deposit' as shown in the screenshot below:

Yes, you'll be able to deposit SGD instead of USD, hence it will save you pretty much on the shitty spreads. Do take note that it will take about 1 working day for your transaction to be reflected in FYB-SG.

To deposit SGD into your FYB-SG account, simply follow the instruction there which are pretty clear cut. The clear instructions to depositing via different banking platform is also shown when you scroll down.

2. To those that are planning to put some cash into your pocket after the exciting ride, scroll down after clicking on the 'Deposit'.

There will be a unique address that you can deposit your Bitcoin into from your wallet/exchange and also a QR code. Simply copy that address and paste it to whichever place you're withdrawing from and send. 

Next up, wait :)
Be patient. 
It's pretty fast, and requires only 3 block confirmation rather than some exchange that will require 12, 30 or so. 

After you've receive your BTC in your account, next you can proceed to sell them by clicking on 'Trade' that is just beside 'Deposit'. There you will be able to see the latest buy/sell price. You can choose to quantity to sell if not all of the BTC you hold in that account. 

The transaction fees is at 0.6% which I feel is very decent and not expensive.
I've personally tried by selling a small bit of Bitcoin for S$128.45 and I'm charged only $0.78 (0.6%)

 Following which, proceed to the 'Withdraw' Tab, there you will be able to withdraw the SGD after the sales of your Bitcoin to your Bank Account. Find your bank there and select your bank. Next, key in your account number and the amount to transfer.

You will be charge S$2 for withdrawal which I find it very cheap compared to the fees that are charged by Gemini (~S$20/withdrawal transaction).

Once again, you will need to wait patiently, which can take up to 2-3 working days to reach your bank :)

Tuesday 30 January 2018

Portfolio Update - Divestment of FCOT & SSB Allotment

It had been sometime since anything have happened to my equities portfolio.

Having that said, it's truly a pity that I have to write this today. In my first portfolio update of 2018, instead of the regular 'buy', it had turned into my first 'sell' transaction. I've divested 300 shares of FCOT at 1.46 today after it went into XD. 

Taking into the account of all the transaction fees, this divestment at 1.46 translates to a P/L of 8.29% or S$33.10 (without dividends) and 15.66% or S$62.53 (with dividends). This big increase you see here is due to the relatively small amount that I've placed into the investment. Nonetheless, this also serves as a good lesson learnt along the way.

FCOT announced it's 1Q18 results and had declared a 2.40 cents distribution for the period. Shares of FCOT had since went XD. With it's recent run, and at today's price of 1.46, the current price  translates to 94% of FCOT's book value at 1.55. Surely, it is still trading a small discount to it's NAV, however the sightings of several signs in the financial report had got me shaking my head.
FCOT's 1Q18 Financial Highlights

There have been a lower occupancy rates at ATP given the departure of HP and along with the weaker AUD, it had resulted in a 11% down in gross revenue year on year. NPI had also decreased significantly by 15% due to the given factors and DPU had shrink by 4%.

Fortunately enough that FCOT's management fees are paid in units rather than cash. Should FCOT's management decide to receive cash instead of units, the DPU will be badly bruised. With 2.40 cents in mind, this translates to an annualized dividend of 6.5% based on the latest price of 1.46, which is no longer attractive.

However, if it is based on my entry price at 1.295 earlier last year, the DPU is neither too attractive either at 7.4%. Considering if the DPU continues to fall, or the management deciding to take cash as management fees, the yield will be far less attractive. Revenues should be able to well recover when more areas in ATP are leased out.

With HPS leases expiring, and should they leave ATP, this event will vacated roughly 16.7% of ATP's NLA. With that in mind, the distribution will once again be impacted negatively.

On a side note, they have also went into the acquisition of 50% in Farnborough Business Park, UK. This deal is set at £175 million. A rough calculation based on the latest exchange rates (1-1.84) will mean that FCOT is acquiring this FBP at S$161.22 million.

Page 9 of 1Q18 Financial Statement
A quick look into their financial statement at the end of 31 December 2017, it shows that FCOT does not seem to have sufficient cash for the purchase which is said to be completed by end-January. This makes me wonder on how this acquisition will goes about. 

With a decent gearing at 34.8%, FCOT is able to take up loans easily for the acquisition. However with that in mind, the gearing will no longer be attractive anymore. Or perhaps, a rights issue might be coming?

Today, FCOT continues to have a relatively decent gearing at 34.8% while prices today, despite FCOT trading at a 5% discount to NAV, tells me that FCOT is no longer undervalued. With the uncertainties ahead and considerations, I decided to divest my shares of FCOT.

Assuming that HPS vacates from the premises, based on a simple envelope-back calculation of HP's total GRI of 11%. Stripping that off will impact it's DPU to shrink to 8.54 cents, which translates to a DPU yield of 5.85% based on today's price of 1.46.
This yield today at 5.85% is no longer attractive for FCOT considering the uncertainties ahead such as increased gearing, rights issue or even the vacating of other tenants and is also unable to compensate the risk for this investment.

As I've divested on XD, I will still be receiving $7.39 of dividends from FCOT on 1 March. As to the 8 balance script shares that I've subscribed previously, I guess, that shall be considered my 'legacy' positions in FCOT? Haha! Nonetheless, FCOT will be officially removed in my coming portfolio update.

FCOT's results presentation here.
FCOT's financial statement here.

On a side note, I've been successfully allocated with S$500 worth on SSB from the previous SSB exercise. (GX18020A). The SSB had been oversubscribed by S$172 million. Applicants who applied for $41,500 or higher would receive $41,000 or $41,500 based on the latest news from MAS.

Guess, for small birdies like me, nothing much. However, as mentioned earlier in my previous post, the purchase of SSB serves as a form of diversification as well as personally, I view that SSB is a really attractive and good platform for me to park my money in.

News on SSB oversubscribed can be found here.

Read: Singapore Saving Bonds (SSB) - 1.55%

Sunday 28 January 2018

19 Year Old Student receiving $403.41 angbao from Government?

It had been long since the last CPF post isn't it? It it especially strange when this post is coming from a 19-year-old kiddo.

While it is the time of the year again and many financial bloggers around have been blogging about CPF, I guess it's time to take a look at the angbao given by the government! 

A quick peep into my CPF portal while waiting for the pie chart letter, this is what I see from the interest segment..

Not that bad! I've received a $403.41 angbao from government! While I continue to work around, I did receive contributions for my work after my last couple of months. This had created a bigger amount than expected my latest CPF post. 

Take a look at the big part in the middle part (SA). That is right. The big chunk there is due to the additional interest received when I did the transfer from OA to SA earlier on. This event had created an additional 1.5% of interest than it is while it is still in the OA.  

The transfer from OA to SA is an irreversible act and to those who are contemplating to do so, here's a few thing that you will need to look out on. 

1. The 5% interest on SA only applies for the first 40k, subsequent amount will only get you 4%. While interest account will get you 3.5% for the first 20k. Subsequent amount will get you 2.5%.

2. As this action is irreversible, please do not do the transfer just because you want a higher interest IF you're looking to purchase a house soon, paying mortgage, insurance, investment or for your kids education. Be sure that there is sufficient funds in your OA when you do so. 

3. The earliest you will be able to access to the funds in SA is 55 year old (as of today). This policy might be subjected to changes along the year and the age to gain access to funds in SA might change. Should to policy timeframe change and raised in the future, you will need to wait longer for the funds inside to be utilized. 

The CPFIS-OA is also not to be left out as this money could be doing work for you when a market crash come and it could be used as an additional war-chest. 

I've mentioned in my earlier blog post that the OA to SA transfer is done as I clearly do not need to funds there in anytime soon for property. This is done to obtain a higher interest for my retirement which will come 35 years later (based on CPF's minimum age to access SA funds)

The SA now serve as a high yielding risk-free account for me and is doing the work now. For that transfer, I've received 1.5% higher interest or $67.76 in additional to the normal 3.5% interest. 

As the letter from CPF comes in due time, I shall take a deeper look into it and write more about this.

P.S: I did not receive any inheritance for my CPF funds and they're acquired through years of part time job. 


Friday 26 January 2018

Everyone is different - Investors Mindset

Every investor have their own belief and thesis towards each investment.
Every investor have different risk appetite and guidelines to evaluate an investment.

Just before anything. Do you know why you're investing for? 
Make sure it's not because your friend told you so. Your friend might be providing you with one of the answer towards your question. But I'm sure that's not the only one.

Let's go into the topic now shall we?
Do you know why prices goes up or down for the assets? This is due to people buying and selling. Simple isn't it? In every transaction out here, each buying order that is filled will mean that someone is selling. Those that are buying would have just entered the position while those that are selling have just exited the position.

When you exit your position, does it signify that your thesis have been met or this particular asset is currently over-valued? If so, congratulations. There is also another possibility that the price now has triggered your stop loss or that the current situation deviates too much away from your thesis. Now, this will be another situation that differs from the first. Take this as a lesson learnt.

How about your thesis and game-play? Is this an asset play, growth story or income play? You'll have to know this well before you initiate any position! Different people are keen in different play due to their circumstances and what they want from this investment. A good key towards this is diversification. Having a basket of investment filled for both growth and income will be able to tie you through the situation.

Wait. Just a moment. Are you having an adequate amount of cash position too in your war-chest? This funds here will be useful when Mr Market is undergoing a depression! With an appropriate amount of cash you'll be able to make good use of the situation like big market crashes and benefit from it when the market and economy recovers!

Now what is an adequate amount of cash position? Well. I do not know. This is truly up to one self to determine. Some are comfortable with 15% while some need 50%. To each it's own. But definitely to hold more when the market is getting over-valued.

Never forget to NOT over-invest yourself. Do you have sufficient emergency funds with you?
Ahh. Now we're back to the same question aren't we? What is sufficient? The answer for this is heavily dependent on your expenses. 6 months? 12 months? I don't know. Up to you to determine. Assuming you were to go for 6 months, one with higher expenses will definitely need more amount to tie them through than someone who has a lesser expenses.

But again. This funds here (emergency funds) are a fund that you will need in any time soon. And this funds will ONLY be used when you're facing a difficult situation. Not for occasions like a vacation or what.

What about your risk appetite? Some are more conservative, while some are more courageous. You do remember that in each 'investment' there is risk right? Now, your risk that you're taking will be compensated by the returns from each investment. A higher risk investment will reap you a greater return than the one that is safer. I'm sure.

Again, to be safe and yet you want to win? Get a basket filled with both conservative asset and higher risk investment. Diversification is the key remember? Diversification. Not Diworsification. Balance your portfolio evenly and ensure that they compromise of both asset. A higher allocation towards 'safer assets' will be able to provide you with some cushion when your risky investment.

Is investment really so difficult?
Buy and Hold - Who sold you that idea?
The traps in stock market
Transaction Cost - Are you a trader or an investor? 

Do you now know why you're investing for?
If so, what is your risk appetite and belief towards each investment? :)

Sunday 21 January 2018

Singapore Savings Bond (SSB) - 1.55% (Feb 2018)

I've been reading about bonds for sometime and in one of my previous post, I've mentioned that I will be establishing a separate new war-chest in my last portfolio update in an attempt to build up a sizable cash position. There is some balancing work that I have been doing this month and utilizing a small portion of the cash, I've decided to take up the SSB that is issued this month.

As the cash that is sitting in the warchest are waiting to be deployed, placing them into the SSB allows me to get a higher interest than from the bank. Also, I take the SSB as a form of mini-diversification as well as an avenue to temporarily park my money before the funds here are being deployed.

In a brief summary, the SSB is suitable for you IF:
1. You have limited funds/insufficient funds for a FD.
2. Require flexibility in your funds
3. Looking for a safe place to park your money where you will have no capital loss

Hence, considering the factors, the SSB fits quite well into my criteria (especially point 1). Yes indeed, there are bank accounts that are offering really attractive interest like the UOB One, OCBC 360, CIMB FastSaver and even to the latest DBS Multiplier Account etc. However, these accounts comes with certain conditions to fulfill and unfortunately as a student, I'm not able to fulfill the most basic criteria, which is to have salary credited into that account. Thus explaining more onto why I'm looking to the SSB.

In time soon, when I'm conscripted, I would have another option available - POSB SAYE Account which is offering up to 2.25% interest. The POSB SAYE account is an account that catered towards the males which are serving the National Service. With your NS allowance credited into your savings account that is linked to POSB SAYE, and contributing to this POSB SAYE account, you will be eligible to the 2.25% interest. Nonetheless, as time are nearing, I will be writing more about this account.

Back to the SSB account, the interest offered is different every month. You may wish to refer to this website (link), to check out on their latest bond and the interest.

Here's the latest interest rate (for this month's bond: GX18020A)

You may also wish to refer to this link to find the historical rates for SSB here.

1.55% interest for the first year is indeed pretty attractive, tho any investment will probably be able to beat them in terms of dividend yield. However, the true shiny point is the risk-free and liquidity you can receive from them.

Hence, for now, with the above mentioned point, I've applied for the latest bond. I will also be writing more about it upon the result release.

Should you wish to hold longer, you will be able to receive a higher interest payment along the year with up to 2.75% upon maturity at the 10th year.

Here are some important dates for this bond for anyone who's interested to consider:
Issue Date: 1 Feb 2018
Maturity Date: 1 Feb 2028
Interest Payment: 1st interest payment date on 1 Aug 2018 and subsequently every 6 months on 1 Feb and 1 Aug every year.

Application Period: 
Opens: 6:00 pm, 2 Jan 2018
Closes: 9:00pm, 26 Jan 2018
Results: After 3:00pm, 29 Jan 2018

Image from SSB's site:

What is Singapore Saving Bonds?
Singapore Saving Bond (SSB) is a saving bond that is backed by the Singapore Government. The insurer here you're looking at is the Singapore Government, whom received the strongest credit rating of 'AAA' from the international credit agencies.

The minimum amount for the SSB starts at S$500.00 with a ceiling of S$50,000 per bond (Investment sum in multiple of S$500.00). You're also subjected to the maximum individual holding of SSB at S$100,000.

You'll be eligible to invest in the SSB so long you're 18 year old and above.

The really shiny point and thing that I like about SSB is the ability to get back your capital fully without capital losses along with the relatively small amount that you can put in, rather than the usual fixed deposit where you will need amount like S$20,000 and such. Aside this, you'd also be able to retrieve your capital at any month with no penalties.

Interest for the SSB will be paid every 6 months. At the start of each month, there will be a new saving bond issued each month. The maturity for which your SSB is up to 10 year. 

Right before buying the SSB, do ensure that you have a couple of things with you. 
- A bank account with POSB/DBS, OCBC or UOB.
- Individual CDP Account linked to any of your bank account through Direct Crediting Service (DCS)

So how can you start buying the SSB?
Apply through ATM/iBanking. Be sure to have your CDP account number with you when you're applying and there will be a transaction fee of S$2. Money will be directly deducted from your bank account upon buying the SSB.

The portal for application will open on 6pm from the 1st business day to 9pm on the 4th business day of each month and you might wish to refer to the calendar (here) for the dates.

Upon successful application, your SSB will be deposited into your CDP account and there will be a mail from CDP to inform you of successful allotment.

For more information, please visit SSB's website here.

Thursday 18 January 2018

Tokyo, Japan (Autumn 2017) - Part 1

Firstly, I would like to apologize. I'm really sorry as this post should be out initially before December. However, due to my tight schedule I did not manage to complete this post till today.

Welcome to another episode of Travel with the Devil. Today, I'll be writing about my trip to Tokyo earlier in November - Tokyo, the capital city of Japan. The most popular metropolitan area in the world!

This trip to Tokyo will be broken down into 2 parts. Do stay around to look out for the part 2 that's coming in soon!

I've shared previously, as much as this is a finance blog which I will be writing mainly about finance related issue, there will also be a segment about my sideline interest - which is to travel. Being granted the opportunity earlier this year to visit Japan (link here) for my attachment program, today I will be writing about a visit to Tokyo. Thinking back, I do have a couple of regrets as I have insufficient time in Tokyo to visit the other places like Mount Fuji and being dressed in a local Japanese costume. But well, I shall leave it for my next trip! It's another pity that I had missed out on many photo for the food eaten. Guess it's my tummy first before the camera!


Tokyo is indeed a really busy city and has a very complex transportation system. Take a look at their MRT map! 

Image result for tokyo mrt map

Very complicated isn't it? To be honest. It's not really that complicated. Just remember the line you're getting on and look carefully at their trains. They have trains that are express-bound and will skip certain stations. Do look out for such words - 特急列車 before boarding. These are the express trains which will skip stations.

And in some of their trains, they will cross over to another line. Meaning to say that, if you're on board the blue line for example, they will actually cross over to the red line after a certain station. Hence, do remember to keep a look out before boarding the train to see where it is heading to!

Aside that, the transportation around Tokyo in their subway are pretty expensive and can easily cost 490 Yen = S$ 5.88/ trip! For tourist around, you may wish to buy the Tokyo Subway Ticket. They have it in 3 different types - 24 hour, 48 hour and 72 hour type. Upon tapping into the first station, the clock will start and for the following 72 hour you will enjoy unlimited train rides before the pass expires. The 24h, 48h and 72h pass cost 800, 1200 and 1500 yen respectively. And yes, I've bought the 72 hour ticket.

You'll be able to buy these tickets from a travel agency, hotels or from airport.

For Haneda Airport,  proceed to Information Desk 5 at B1 floor of Haneda Airport Domestic Termial 2. They're open from 06:00AM to 10:00PM. For more information, you may wish to visit the site here.

Tokyo Subway Ticket

Time for some activities!

Day 1. Tokyo Skytree & Asakusa, Sensoji:
Tokyo Skytree is a broadcasting, observation tower which stands at 634m, the second tallest structure in the world.  

You can access to this place via Oshiage Station on the Tokyo Metro via Keisei Line (KS45), Toei Asakusa Line (A20) or Hanozomon Line (Z14). Right after alighting, there will be directions that will lead you to the Tokyo Skytree. Alternatively you can also proceed to Tokyo Skytree Station via Tobu Skytree Line (TS03).

There's also a shopping center right below which includes stores like Line Store, Disney Store, Daiso and musuems such as the World Beer Musuem where you can get to buy beer all across the world as well as dine in the beer musuem restaurant to get yourself drunk. There's also several F&B establishments right below the Skytree.

View of Tokyo Skytree from below
World Beer Musuem
Happy Hour at 1,500 Yen (S$18) for 60mins of free flow drinks

To get onto the observation deck, you will need to proceed to L4 and exit through the glass door and enter into the place shown above. Inside, you will be able to find the ticketing counter that sells the ticket for the lift to the observation deck which cost 2060Yen (around S$24.89) for an adult ticket.

Right after, you purchase your ticket, you will be able to see a lift right ahead of you. There will be some staff there which you will pass your ticket to and brings you to the lift.

On the observation deck, you will be able to have a panoramic view of the city and the river. You can also choose to top up a little money and head to the upper observatory deck, which is 5m below the upper platform. I was reading earlier before heading up that you might get a view of Mount Fuji if you're lucky when the sky is clear. I was not able to see Mount Fuji tho. There's also a glass floor where you will be able to view downwards.
View of City - The buildings all look so tiny!

View of the river

Glass Floor

Asakusa  (浅草) & Senso-ji:
Right after you've finished with the Tokyo Skytree, you might wish to drop by Asakusa which is just 10 mins away in walking distance. Right at Asakusa, there is many many restaurants around, so fear not when you get hungry. Also, the famous Senso-ji, a buddist temple is situated there as well. Senso-ji is the top 10 temples in Japan. Hence, be sure to drop by and pay a visit to the beautiful temple.

I've dropped by Asakusa shortly after my trip to the Tokyo Skytree. Senso-ji is next after my meal at Asakusa an indeed, Senso-ji is extremely beautiful in the night.

As you're walking over from Tokyo Skytree, you will be passing by this bridge (Azumabashi)
which was originally built in 1774 at the site of ferry landing.

Carry on walking straight. And soon you'll see a traffic light. Go straight and in minutes, you will be seeing Senso-ji on your right. And yes, looking back, you can see the Tokyo Skytree.

Unfortunately, when I was there, the shops outside Senso-ji (Nakamise-dori) is already closed. Hence, if you want to catch the shop open, remember to visit Senso-ji earlier! I was there at 5pm, and yes. The sky is looking like 9pm in Singapore.

You may wish to also try this out, the Mikuji みくじ. A random fortune slip whereby you shake the metal tin and obtain the stick with a number. Locate your number of the drawer and retreive your fortune slip. If you receive a good one, congratulations. Not to be sad if you receive a bad one, just tie it to the side :) Remember to drop a small donation of 100 Yen before you start shaking!!

Mikuji - Fortune slips

Oh yea, shortly after. I went opposite and went over for a "All you can eat" Shabu-shabu.
Nothing beats having a delicious steamboat after your day right?
There's several different courses available and I picked the one that cost 2,600 Yen which is about S$31. You'll be able to enjoy 100 minutes of eat all you can. For the other packages like the 3,600 Yen, you'd be able to enjoy the beef tongue course and 4,600 Yen for Japanese Beef and Pork course.

Time for my meal :)

Day 2: Akihabara
Lunch - Ippudo Ramen, Ueno Hirokoji (link here)
Address: 〒110-0005 東京都台東区上野3-17-5
They're opened till late in the night and closes only at 2am on Mon-Thu/Sun and 3am on Fri-Sat
Familiar name isn't it? Yes. It's delicious. And you should try to original one in Japan.

Next, Akihabara is a famous district for video games, anime, manga, computer goods and electronic products. There's also numerous maid cafes around the area, and I'd say it's really interesting to get one checked out.

Surpringly, arcade and video games is still very well supported there.
As I'm someone that is pretty into electronics, I've spent a good day in Akihabara visiting most of their electronic stores. Oh yea, this is how it looks like in the maid cafe (sub cosplay restaurant).
The waitresses are all dressed in maid costumes and would literally kneel down in front of you to take your order. Also, upon entering the restaurant, they would be saying 'Welcome home, master!' in Japanese to welcome you. It's a really strange yet interesting and expensive experience I've got there. On a side note, there will be many 'maids' that are out to get you (particularly male) to patronize their restaurants.

Do remember to have some fun in their arcades there! There's tons of different claw machine there and video games available and you'll be surprise to see that people across all ages are spending alot of time there! There's also many many different arcades there or entertainment complex.

Ohyea, you can get to Akihabara via the JR station or Tokyo Metro via the Hibiya Line (H15)
AKB48 Cafe - Japanese Idol Girl Group cafe

Day 3: Shibuya
Another shopping paradise here, and you can literally spend most of your time here if you're a shopping lover. Aside that, there's also many drugs stores, a big book store and concept stores around.

If you're there for awhile you might have noticed that there are some that are dressed in Mario Kart in a cart driving around the area. Yes!! I'm actually one.

You may want to drop by their site MariCar to learn more about that (link here).

Be reminded that you'll need your IDP (International Driving Permit) in order to join in for the fun! You'll be leaded by an instructor that will bring you around the route.

There's several route available to different timing. For me, I've chose the H-S Route which lasts around an hour. In this route, you will visit several places like Harajuku, Shibuya Crossing, Omotesando before returning to the shop.

Upon passing by Shibuya crossing, you will probably feel like Johnny Depp with every pair of camera and eyes shining on you.

Part 2 can be found here - Tokyo, Japan (Autumn 2017) - Part 2

Read: Tokyo at night, where to go? What to do?