KrisEnergy 42-for-100 rights issue:

KrisEnergy has called for cash. The company will issue 42 rights share for every 100 existing share at an issue price of SGD 0.385, representing a discount of 13.5% to its closing price when the announcement was made.

I can use my existing cash reserves to subscribe to the rights issue. I am entitled to 8,400 rights shares based on my current shareholding. But I am also in the red with my average purchase price 10 cents lower than the current market price. This would mean that should I subscribe to my entitlement, I would be putting in more capital at a time where markets are generally skittish, if not heading for the inevitable slump. At the same time, the oil and gas market looks with weak, with a recovery at least 1-2 years out. Russian bear.

Notwithstanding my vested interest, generally, I would not subscribe to rights issue because companies that do call for cash, tend to underperform the market, even after adjusting for dilution. I have only participated in one rights issue, that of GMG Global, and am still waiting for my super-sized returns after many years.

Having said that, I am very likely to subscribe to the rights issue because the alternative would mean either dilution or taking a hit by selling my shares. I will update on any future action.

Stitches off.

Just more than 2 weeks after the operations, the sutures were removed. What's left is a thin red line and red dots resembling staple marks. 

Going into week 3 of post-op, my left shoulder feels much more mobile and I am able to put on clothes and wash my hair with greater ease. There is a patch of skin below the operation site that feels "dead" because some of the nerves were damaged during the surgery to put the titanium plate in. I was warned about this. 

Meanwhile, the only exercises that I have been doing is weightless bicep curls, pendulum swings as well as running my hand up against a wall to ensure the shoulder retains its range of motion (ROM). However, I dare not lift my left arm straight over my head from the side (like you would in a jumping jack) because it would mean moving my entire left collar bone in a manner it has not been able to do for the last 9 months.

One plate and six screws later

The Mount E orthopaedic specialist told me that based on the latest x-rays (above), I was suffering from a clavicle (collar bone) non-union – the bones have not united. There was some callus (pre-bone material) formation but the two pieces of bone were still mobile after more than 6 months. This was opposed to the malunion I was informed much earlier, where the bones were united but not in a proper alignment. The specialist told me that plate and screws were in order. 

 The preliminary costing estimates given for my planning was slightly more than SGD 20k (!). The locking plates and screws (seen in the x-ray above) were to be made of titanium and I would have a synthetic bone implanted onto the fracture site to help healing. Based on checks with various sources, this was twice the amount you pay at a public hospital (the equipment would also be different), although I have been advised against going to a public hospital if possible. I frantically checks with my company and personal insurance. Not all the expenses relating to the surgery would be covered by my insurance. At the back of my head, it felt like a big blow to my wallet and financial planning.

Fast forward one month after my encounter with private specialist, I was admitted during lunch time to Parkway East Hospital for the operation. Everything was getting too real. The specialist ran through the operation and the possible complications – infection of the operation site, non-union and numbness surrounding the operation site. I proceeded for financial counselling and then I was shown my bed and my parameters were tested. I was asked about my medical history and if I knew what operation I was going for and what time it was. I was told to change into a gown and before I knew it, I was in the waiting room. I was again asked the same set of questions but this time by a different team of nurses. Upon confirmation, I was pushed in the operating theatre.

200,000 page views

Close to five years after setting up this blog, I finally managed to hit the 200,000 page views levels. While not all page views may be unique, I do feel a slight sense of satisfaction. In terms of Adsense revenue, I think it has amounted to only SGD 300-400 and that is definitely an aspect I should improve upon.

Thank you all for closely following my blog! If you could, please share my blog with your friends through facebook or even whatsapp!

It has been a learning journey the whole while. Initially, there was the ChannelNewsAsia Forum where I could share my posts but that was closed down during one of Singapore's general elections. Now, most of the traffic is directed wholly by the Singapore Investment Blogger page.

The top two posts with the most page views surprised me because they were not investment related. In top spot was the post on my Taiwan trip: http://sgxstockpicker.blogspot.sg/2013/06/my-taiwan-trip-june-1-9.html and this was followed by the post on my kick scooter: http://sgxstockpicker.blogspot.sg/2014/01/bought-new-oxelo-town-7-kick-scooter.html. Both these posts are relatively new and showed me the importance of writing on topics that could reach a bigger audience as opposed to the narrow investing community. 

Once, thank you very much for reading this blog. May you have a great investment journey ahead!

An injury to the body and wallet

I mentioned fleetingly in earlier posts that I had picked up an injury. I broke my collar bone in September 2014 in a football game. I tried to jump over my incoming goalkeeper but my trailing leg caught his. As a result, I fell into the synthetic turf like how a cyclist would, having been flung his bike and into the ground. 

Not realising what had happened, I slowly dragged myself out of the field. I thought I might have dislocated my shoulder and so I tried to rotate my left arm. That was a wrong move. The broken ends of my collar bone (as I would find out later) rubbed each other resulting in a sharp pain that caused me to vomit and almost blackout. I laid on the sidelines for a long while before packing up my kit and making my way to the hospital.

I decided against getting an ambulance since I was not bleeding and still conscious. However, hailing a cab was very difficult. I was half naked and could not call-book a cab. This was made more trying when other people "stole" my cab, not realising I was in a great deal of discomfort. When I did get into the cab, I told the driver to send me to TTSH A&E. He had suggested that I go CGH, since it was closer to where I was. However, I told him to go TTSH as it was closer to where I live.