My Sweet Retirement Receives GrabPay Physical Mastercard

As shared last year, I have signed up for the GrabPay Mastercard. Besides the virtual card within the GrabPay application, they actually offered a physical card. I have used the card a few times for online purchases just to earn reward points. The reward catalogue still needs some improvement as I couldn’t find anything attractive to redeem using my Grab Reward points. After a long wait, I have finally received the GrabPay Physical Mastercard in my mailbox today. It comes in a green card sleeve.

Here are some benefits that I read about the GrabPay Mastercard

  • No membership fees.
  • Use Singapore GrabPay balance to pay for Grab rides throughout Southeast Asia without incurring transaction and FX fees.
  • Earn grab reward points when you pay using the GrabPay Mastercard.
  • Able to use Grab for online purchases although I read about certain sites have disabled the support for usage of GrabPay Mastercard.

As shown in the photo below, the shiny silver card looks simply cool! If you are wondering how to identify the card belongs to you since there are no details printed on the front, your name is printed at the back of the Mastercard.

There is actually a QR code printed on the sleeve when you remove the GrabPay Mastercard. Below shows the instructions to activate the GrabPay Mastercard.

Have you gotten yours?

Screening For Dividend Stocks Using Yahoo Finance Stock Screener

Previously, I have reviewed on FSMOne stock screener and Stocks Café Stock Screener which is the one that I am using currently. There is no right or wrong on which stock screener that you choose. I have chose Stocks Café stock screener because that is one that I am comfortable with and since I have a paid subscription, I might as well make full use of it. Of course, the best part of Stocks Café stock screener is that it will automatically email you the results daily (depending on the frequency that you set).

Recently, a reader has contacted me twice to review the yahoo finance free stock screener. I am familiar with the old Yahoo Finance stock screener but not aware that they have since redesign the page to include a new free stock screener that at a glance looks sleek and clean.

I have used the following criteria to screen for dividend stocks. You can read more about my criteria selection in my post on Screening For Dividend Stocks Using The FSMOne Stock Screener.

Not sure if it is due to my web browser (Edge), but for each criteria that I tried to set, the browser keeps freezing. You have to wait for a while and the page will “unfreeze”. This is most likely due to the heavy usage of scripts to render the page on the fly. The estimated results counter on the right gets updated real time when you change any criteria so you know how many companies fulfil the criteria that you set.

You may have noticed that the currency selected is in USD. I could not find a way to change it to SGD even though I have selected Singapore as the region.

Upon clicking on Find Stocks, the results are displayed below on the same page. Yahoo offers two views for the results, list and Heatmap view. In list view, I was surprised that there is no indication of dividend yield even though it is one of the criteria that I have set above. The only column that allows sorting is by Market Capitalization. Do you buy stocks only based on Market Capitalization?

I like the feature whereby the results offer a 52-week range that lets you know roughly where the current price is nearer to.

In Heatmap view, this is basically based on Market Capitalization. Well, I am not so familiar on how to interpret heat maps. Here is a screenshot that I shall let you decipher yourself.

Given the lack of dividend yield information in the screened results and the inability to sort by dividend yield, I still prefer Stocks Café stock screener.

Singtel 3QFY20 Net Profit Fell 24% – Should You Buy?

Singtel had released its 3QFY20 financial results on 13 February 2020. The financial results are not so rosey, with operating revenue declining 5% to S$4.38 billion due to lower equipment sales, weak business sentiment and spending, continued price erosion in carriage services and heightened market competition.

Net Profit After Tax was down by 24% to S$627 million due mainly to the weakness in the enterprise business, the impact of the final settlement of a gain on the Airtel Africa pre-IPO investment and lower exceptional gains.

(S$ Mil)
(S$ Mil)
% Change
Operating Revenue 4,378.3 4,626.1 (5%)
Net Profit After Tax 627.2 822.8 (24%)

As shared previously, 48% of Singtel’s net profit comes from its regional associates.

I am glad that Profit Before Tax from its Regional Associates increased 15% to S$393 million. This was driven by strong data growth across all markets. Airtel’s losses narrowed, on the back of strong 4G customer growth, customer upgrades and price increases in India. Its African operations also saw growth momentum in carriage and mobile money services. The stronger operating performances mitigated higher costs and depreciation from its network expansion.


Singtel’s Net Debt stood at S$12.4 billion. Net debt gearing ratio stood at 31.7%.

Free Cash Flow

Free cash flow for the nine months was up 8% at S$2.74 billion.

Current Dividend Yield

If Singtel maintains the dividend pay out of 17.5 cents, based on the current share price of S$3.17, this translates to a current dividend yield of 5.52% which I deemed attractive given most REITs current yield have fallen to slightly above 5%.

If Singtel is to cut its dividend pay out to 15.8 cents (based on year 2012), the current dividend yield will be 4.98%.

Note: Singtel has a dividend policy to maintain pay out of 17.5 cents until March 2020.

Potential Catalyst

A joint application with consortium partner, Grab, for a digital full bank licence in Singapore has also been submitted in December 2019. The license will allow them to lend monies to companies. Singtel and Grab will know if their application has been approved by mid 2020.