Who is The Substantial Shareholder Exiting Boustead?

Last Friday, 9th March 2018, the share price of Boustead plunged to S$0.76. The Company took opportunity and purchased 2,220,400 shares by way of market acquisition as part of its share buy-back programme.  Today, the Company purchased a further 26,705,100 shares by way of market acquisition.

Today, Boustead Singapore said that a substantial shareholder has expressed his intention to make an exit. I am curious who this substantial shareholder is. From FY2017 annual report, the below shows the twenty largest shareholders of Boustead.

A quick google did not show any sudden bad news hitting Boustead. What a steal at S$0.76! At the point of writing this post, the share price of Boustead has recovered back up to S$0.80.

Profit Update After A Month of Mining Ethereum

I have been mining Ethereum for slightly more than a month since I built my own Ethereum mining rig in end January 2018 (Read more here: My Sweet Retirement Builds A Cryptocurrency Mining Rig).

Below shows the Ethereum I have sent to my Coinbase account from another the wallet that I received the mining profit. For your information, Coinbase does not accept mining profits directly. As such, you need to use another wallet to receive the profits such as MyEtherWallet.

As you can see, a full month of mining roughly works out to be S$497.76 of profit. Just to test out whether my Xfers Account is working, I cashed out S$11.95 on the 17th of February 2018. Coinbase has a flat charge of S$1.00 for selling and depositing the cash into Xfers. Read More

WeWork Leases Office Space From CapitaMall Trust and Frasers Commercial Trust

Recently, while I was flipping through the financial results presentation slides of two REITs, namely CapitalMall Trust and Frasers Commercial Trust, I came across this company called “WeWork” that seem to take up quite a substantial square feet of office space in these two REITs.

WeWork Singapore has committed to lease around 28,700 square feet of space at one of China Square Central’s heritage shophouse blocks. The company had leased 40,000 square feet of office space across two floors of Funan’s North Office Block, becoming Funan’s first office tenant.

Being curious, I looked up the term “WeWork”. This is what I found

WeWork is an American startup company founded in 2010 that provides shared workspace across various countries. Recently, they have acquired Singapore based company Spacemob.

Based on my findings, WeWork has a current valuation of US$20 billion. Wow! That sounds like a strong and robust tenant for both of these two REITs I am holding.