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Saturday, 8 March 2014

Cash - Closing Status 7 March

Received the following dividends in this week for my Cash portfolio :-
$111.20 CDL Hospitality Trust
$39.40 Keppel Reit
$62.50 Singapore Post
$25.00 Frasers Centrepoint Trust
$18.40 Mapletree Logistics Trust

Added GRP Ltd 19 lots in this week as part of usual portfolio re-balancing; total holding in it now at 30 lots.  For its HY2014 financial results, revenue +5.7% with growth in all the three business divisions.  Strong demand in Hose & Marine and ramp up in orders from a middle east customer for its uPVC.   Administrative expenses -6.7%.  Profit 24.4%.  Free cash flow status at the moment.  Cannot understand reason(s) for not declaring any dividends with this set of good results.  The ex-President of REDAS, Mr Teo Tong How will be part of GRP's independent non-executive director and chairman of the board of directors.  Mr. Teo will add tremendous value to GRP due to his vast knowledge, experience and network in property development, and property investments.

Divested Croesus Retail Trust 1 lot in this week for $15 nett gain as part of usual portfolio re-balancing purpose.  It has 100% occupancy across all its four retail business properties in Japan.  Around 0.4% of leases are subjected for renewals in year 2014; and 25.7% of leases are for renewals in year 2015.  Each of the properties is strategically locate within its submarket, being directly connected via major transportation nodes.  63.4% of its gross rental income is derived from leases structured as fixed term leases, giving it greater flexibility to adjust rentals and tenant composition, or variable rent, allowing it to share any income upside with its tenants.  It has very high gearing of around 41.8% but at very cheap interest costs. It recently announced the completion of acquisition on two income-producing retail properties in Japan, namely Luz Omori and NIS Wave; which will increase DPU approximately from 7.01 Singapore cents to 7.41 Singapore cents.

 Portfolio walk since previous posting :-

+$3,748 Total Returns as of 28 February

+$257 Dividends from Keppel Reit, Mapletree Logistics, SingPost, FrasersCT, CDL HTrust

+$15 Nett gain on sales of Croesus

+$259 Unrealised positions improved

+$4,278 Total Returns as of 7 March

Previous posting :- Cash - Closing Status 28 Feb

Remarks :- Profits locked in to-date $12,839 / year 2014 $1,347

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