Car rental: GetGo review

 

Ever since my most favorite Smove car rental company wind up in 2020, I had not rent a car till now.

Recently, I came across a car rental company named GetGo, due to its striking car decal spotted in many carparks (over 900+ locations) and on the roads. 

The WOW portion of GetGo

1. From registration to drive off within 20mins or less
• Yes, sounds insane but it is possible. All you need is download GetGo apps, register via Singpass and book your car 
2. No deposit if you register via Singpass
3. No documents to upload if you register via Singpass
4. No monthly membership fees
5. Pay per use
6. Many locations (over 900++ carparks)
7. Only require apps (Booking is contactless and available 24 x 7)
8. 5% of total rental cost for optional Collision Damage Waiver
9. You receive $5 credit if you sign up via my ref code (KQ67GPSU) or click here
10. You receive $6 credit if you help to top up their petrol from 1/4 tank to full tank
• No payment required for petrol top up at all Esso station as car equip with Esso card
11. FAQ & Live chat options available within apps
12. Simple apps UI interface
13. Community car
• You cannot book GetGo to drive Grab. 
• If you living in a good and social responsible community, the car condition should be good.

What can be improved:

1. Currently Getgo is a Point A to Point A rental services
• If they can return the car to diff location from collection, it will be awesome
2. It require bluetooth to "connect" to your car currently
• In order to lock your car or start/end your booking, you need to turn on your phone bluetooth. 
• Connecting to the car via bluetooth require around 5 secs

Signing up? :) :) :)

You receive $5 credit if you sign up via my ref code (KQ67GPSU) or click here

Related post:

1) Car Rental: Smove vs Tribecar (2018 Dec Edition) 

2) Life as a 1 week Uber driver during company forced leave (Part 1)

3) Life as a 1 week Uber driver during company forced leave (Part 2)

Added: Keppel DC Reit

 

Bought 17,500 shares of Keppel DC REIT at $2.28 on 20 Jan.

Reason for buying:

1) 52w low

Past 1 year, KDC share price is ugly (1 way down). 

In term of fundamental, I don't think there is much different except on 28 Apr, KDC announced that they will not be pure DC play anymore (Expansion of Investment Mandate).  

However, KDC had state that at least 90% of AUM will continue to be data centres.

This is similar to you would like to allocate max 10% of your portfolio to cryptocurrency.  Sounds fine and good with me.

2) Premium to NAV dropped to +85% as compare to +101.6% 3 months ago

3) >$2b potential DC asset from sponsor pipeline

This is important to ensure there will be growth in AUM & dividend payout.

4) M1 NetCo Bonds and Preference shares

I am not sure why some shareholders doesn't like this M1 opportunity. I think it is alot better than the Mapletree merger (My thoughts on MCT (Ketchup) x MNACT (Chili) = MPACT (Nacho cheese)).

M1 is the second largest mobile operator after Singtel. I am M1 customer (both mobile and fibre) for more than 10 years. 

I actually quite like this as it provide stable cashflow for KDC for next 15 years ($11m/yr) at 9.17%pa with NO operational management risks or capex obligations in the future.

In comparison:

• Invest in KDC, get 4+% dividend per annum (pa). 
• Top up money in CPF SA at 4%pa with lockup for XX years (depending on your age)
• Put in Singapore Saving Bond (SSB) for 10years only get average 1.64%pa

Aside from the cashflow, it is also DPU accretive and increase AUM. REITs nowadays are trying hard to enlarge their AUM.

5) Divestment

Aside from the acquisition, the ability in good divestment outcome is important too.

 

6) Lower than the Private Placement (PP) price of $2.522 in Aug 2021

7) Complement with Mapletree Industrial Trust (MIT) DC portfolio

I added MIT few days ago (link).

MIT have 49.4% of its DC AUM in North America and 3.5% in Singapore while KDC did not have any DC in America.

Related post:

1) Added: Mapletree Industrial Trust

2) My thoughts on MCT (Ketchup) x MNACT (Chili) = MPACT (Nacho cheese)

Frasers Centrepoint Trust (FCT) AGM 2022

 

Frasers Centrepoint Trust (FCT) held their AGM today at 10am and it ended at 10.47am.

Shareholders questions were answered before the actual AGM. You can view FCT responses Part 1 and Part 2.

I like this approach as this can allow unsatisfactory answer to be raised again (if any) during the live AGM. This also show confidence of FCT Management. 

There are less than 10 questions submitted during the live AGM session and below are the summary:

1) How will the interest rate hike impact FCT?

FCT debt are quite evenly spread out, thus will not have any huge impact to FCT in any particular year

2)   Is FCT looking to expand oversea?

FCT main focus now is still in Singapore. 

3) How do FCT ensure DPU grow year on year?

Via the Growth strategies slide the 3 engines

4) Hektar REIT Malaysia performance concern

FCT purchase Hektar REIT many years ago and have been enjoying some good payout for past few years. The performance concern is due to COVID and hopefully Malaysia retail will pick up soon.

5) Will SG GST hike affect DPU payout?

Should not have much effect as 54.4% of FCT portfolio are essential services. DPU payout largely depend on the rental collected.

There is not much surprise element in FCT AGM 2022.

Related post:

1) Added: Frasers Centrepoint Trust (Jan 2022)

2) Added: Frasers Centrepoint Trust (Sep 2021)

3) ComfortDelGro AGM 2021

4) First REIT AGM 2020

5) MM2 AGM 2019

6) Perennial AGM 2019