Goodbye Ohm Energy. Hello Senoko Energy

With unfavorable market conditions caused by surging wholesale electricity price (This is caused by several factors – a significant rise in global spot liquefied natural gas (LNG) prices due to higher demand and lower production; higher-than-usual electricity demand domestically; and a reduction in the supply of piped natural gas from Indonesia), 3 electricity retailers have exited Singapore Open Electricity Market, and 1 have let go about 800 accounts. Unfortunately, the vendor I have signed my contract with is also hit by these market condition. In an email sent to me before the news broke, they announced they will be ceasing operation, with my account transferred back to SP Services on 20-Oct-21.

Well, it has been a good 3 years of journey with you.

Well, with such unfavorable market conditions, naturally, the plans available currently on market is not as good as before. With some research, I finally landed on Senoko Energy with their 2 years discount off tariff at 3%, mainly to take advantage of their current promotion of $60 bill rebate for any 2 years plan (Promo Code: TAKE60) and a referral bill rebate at $30. What I like about this company is that even for contract renewal, you can also apply their bill rebate promotion, which is rarely seen in other retailers.

Anyway, for others who are thinking of switching to Senoko Energy, here is my referral code for you to use to obtain a $30 rebate for you and for me!

Refer a friend to sign up for an electricity plan with Senoko Energy and both of you will earn a $30 bill rebate each to offset your electricity bill. The more successful referrals, the more you earn!

Use your referral code!

713E8QCU

3Q 2021 Investment Strategy Update

Q3 has been a rather busy quarter for me. New assignment, office shifting, tightening measures. All these have kept me well occupied, leaving no time to look at other opportunities for investment. For Singapore side, IPOs have also dried up, with no new mega companies coming on board. Singapore too have a roller coaster ride with COVID-19 control measures, with the affected industries (F&B, retails, medicals) also having a roller coaster ride with the changing government policies. Globally, with increasing vaccination rate, countries are slowly opening up, with Thailand being one of the first Asean country to begin accepting fully vaccinated tourists with no quarantine restriction from 01-Oct. With the easing control measures, previously battered tourist sector (airlines, hotels, entertainment) will stand to benefit the most.

DJI ended at 33843, a decrease of 659 points (-1.91%) compared to 2Q 2021. For Singapore, STI ended at 3086, a decrease of 44 points (-1.40%) compared to last quarter. There are not much changes for Q3. For me, the next 3 months will probably focus a little more effort looking at hotel counters (e.g: Mariott). Situation are improving, Marriott are looking at re-starting dividends and stock buyback somewhere next year. It might be time for me to cash out some of my equity on hand as the stock rises. For this quarter, not much actions except participating in the rights of reits as they continue their expansion strategy:

Transaction 1: Participated in IReit Global Rights in July.

Expansion into being landlords of 27 Decathlon retail buildings in France seems like a good defensive move due to the long lease sign up (6+4 years) and rental pegged to CPI, which typically rises 1% to 2% every year.

That is all for now. See you all in Q4 2021 update and thank you for reading thus far.