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Sunday, 23 June 2013

SRS - Closing status 21 June

In this week for my SRS portfolio, l have invested into AIMS AMP Industrial Reit 6 lots.  In the same week l have decided to reduce my holding in it by half to 3 lots currently.  This divestment was at a nett gain of $120.  If l am stuck with my investment for the remaining 3 lots then l can still expect an annual dividend of 6.6% based on my investment costs in it.

Divested UMS 25 lots at a nett gain of $164.  This is because l was not unsure whether the stock will continue to drift lower so l have decided to divest it all away as l was already in profit position.  The $164 nett gain is 66% of its dividend XD on 9 July which l think is still good considering that my investment duration in it was only for one week.  Its share price did not go lower much so l have re-invested into UMS 5 lots in the same week. Selling pressure will likely to come in next week as investors did not have much time to react when its share price ended Friday at its 52 weeks high at $0.525.

CDL Hospitality Trusts share price has been dropping for quite some time now and at one time on Friday, it was at its 52 weeks low of $1.70.  I have invested into CDL Hospitality Trusts 1 lot in this week but not at its lowest share price level in this week. Will the current haze situation affect its revenue?  Possibly yes, when it reports its 2nd quarter results ending 30 June but l think it will be minimal as 15% of its hotel businesses are in Australia and New Zealand and the haze situation happens for only 2-3 weeks duration.  If l am ever stuck with my investment in it l will have no regrets as l will consider it a good problem to have due to its reasonably good dividend yield of around 6.3% based on my investment costs in it. 

Invested into Mapletree Logistics 1 lot.  This logistics reit company has its well diversified customer-mix businesses in Singapore, Japan, Malaysia, Hong Kong, China, Vietnam and South Korea.  There is greater stability and resilience because there is no reliance on any single industry or customer.  Based on my investment costs in it l can expect an annual dividend yield 6.2%.

Invested into K1 Ventures 10 lots this week under SRS portfolio.  K1 is into a wide range of investments across diverse industry sectors - 50% in transportation leasing and 50% in Investments (mainly Education, Oil and Gas exploration, Financial Services, Automative Retail, Diversified funds).  There are many well known brand names under Education such as Busy Bees, Learning Vision, Learning Horizon, Pat's School House, The Children's House, Canadian International School of Singapore, Brighton Montessori, K12 Inc.  In its recently published annual report it said :- ".... It was concluded that shareholders were best served by not seeking additional capital and instead focus on the management of the current investment portfolio with the view to maximise shareholder value, and to distribute excess cash as investments are monetised. ....".  There are many powerful names in its board of directors namely Choo Chiau Beng (from Keppel Group), Lee Suan Yew (from Haw Par Group), Teo Soon Hoe (from Keppel Group), Yong Pung How (former Chief Justice of Singapore), Neo Boon Siong (from OCBC, Keppel T&T). At annual dividend rate of $0.015 (interim dividend $0.01 + assumed final dividend $0.005) then l can expect annual dividend yield of 9.0% based on my investment costs for 10 lots.

The share price of Frasers Centrepoint Trust (FrasersCT) looks quite attractive now.  Its share price started correcting lower since early May'13.  For this week, l have invested into FrasersCT 1 lot and if l am stuck with this investment then l can still expect an annual dividend yield 5.3% which is much better than bank deposit rate.

Also invested into Mapletree Commercial Trust 1 lot in this week at a share price which has a dividend yield 5.4% just in case l am stuck with this investment.  Distributable income is likely sustainable at 2012 rate or even higher with the completion of Mapletree Anson acquisition in early Feb'13. 

This week for my SRS portfolio l have invested into Kingsmen Creatives 3 lots.  Its revenue for 1str quarter results was lower than in 2012 but its gross profit margin at 30.7% was above 2012 full year (25%) and 1Q2012 (27.2%) so it is playing its sales mix well here which contributed positively to its profit.  Profit was also higher because of dividend income from other investment income in 1Q2013; not sure whether this is a one-time item?   Its associated companies also contributed positively to its profit.

Portfolio walk since previous posting :-

+$6,313 Total Returns as of 14 June

+$285 Gain on sales of UMS and AIMS AMP Reit

+$1 Unrealised positions improved

+$6,599 Total Returns as of 21 June

previous posting :- SRS - Closing status 14 June

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