Donation

Donation
Donation amount as little as $10. Please donate generously. To donate, click on the sggives logo.

Blog Archive

Sunday 30 March 2014

SRS - Closing status 28 March

Divested away GRP Ltd 75 lots in this week for $285 nett gain as part of usual portfolio re-balancing.  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.

Portfolio walk since previous posting :-

+$5,068 Total Returns as of 14 March 

+$285 Nett gain on sales of GRP

+$422 Unrealised positions improved

+$5,776 Total Returns as of 28 March

previous posting :- SRS - Closing status 14 March

Remarks :- Profits locked in to-date $13,735 / year 2014 $1,133

Cash - Closing Status 28 March

Divested away SingPost 5 lots in this week from my Cash portfolio for a nett gain of $65 as part of regular portfolio re-balancing.  In its 3Q2014 results, revenue +30.2%, Profit +0.7%.  Higher revenue because of contributions from acquisitions and growth in e-Commerce related activities across the business segments.  Total expenses +36.6% mainly attributable to the change in business model to a diversified group and growth in lower margin businesses.   It has been taking proactive measures to manage costs including the implementation of shared services and productivity improvements to achieve considerable savings and be more efficient, although rising manpower costs continue to be a challenge.  Finance expenses -43.0%  as it had repaid the $300 mil bond in Apr'13.  Its focus is on building end-to-end e-Commerce logistics solutions in the region - freight, warehousing & fulfillment, last mile delivery & returns and front-end web solutions.  Several other major customers have come on board to leverage its e-Commerce solutions including Canon, Philips and Toshiba.  It expects good growth potential in this space and is ready to tap the opportunities.  In a recent Standard & Poor's announcement, SingPost rating got lowered to 'A' from 'A+' on continuing business risks; and outlook Stable.  The stable (previously, negative) outlook reflects S&P's expectation that ongoing business transformation will prevent a material decline in SingPost's profitability over the next 12-24 months.

Divested away AIMS AMP Industrial Reit 1 lot in this week for $28 nett gain as part of usual portoflio re-balancing.  In its 3Q2014 financial results, NPI +26.6%; available distributable income +29.6%.  DPU +7.4%.  Its NAV as of end Dec'13 was at $1.5183 and its last done share price on this Friday is already at a discount at $1.36 (partly due to recent Rights Issue effect).  Portfolio occupancy rate at 98.2% as of end Dec'13.  Only 2.6% of NLA expiring in 2014.  Redevelopment of its Defu Lane 10 property on schedule and within budget and TOP is expected in May'14; expect income contribution in Sept 2014 quarter.   For the development of phase 2e and 3 of its Gul Way property which upon completion will likely resulting 8.17% NPI yield on cost. 

Reduced HPH Trust 2 lots in this week as part of usual portfolio re-balancing for $52 nett gain; total holding in it now at 4 lots.  Attractive valuation after recent share price correction.  In its 4Q2013 revenue -0.8% and profit -34.2% versus last year.   The average revenue per TEU for Hong Kong came in lower due to one-off concession granted to liners after industrial action in HIT port;  also came in lower for China due to adverse throughput mix of containers from liners.  Cost of services rendered +10.3% and Staff costs +12.5% due to RMB appreciation, inflationary pressure, higher container throughput and ACT's staff costs after the acquisition.  Its end of Dec'13 NAV at HKD 7.26 (approx. SGD 1.19); last done share price on this Friday at $0.835.  Growth in the US and Europe is a major factor in determining the total volume of containers handled by HPH Trust.  Consensus outlook for both is favourable in 2014.  Recently it has established a joint venture and strategic alliance with COSCO Ports (ACT) Limited (a subsidiary of COSCO Pacific Limited) and China Shipping Terminal Development (Hong Kong) Company Limited (a subsidiary of China Shipping  (Group) Company) respectively through their investments of 40% and 20% in HPH Trust’s wholly-owned subsidiary, Asia Container Terminals Holdings Limited, and their acquisition of corresponding proportions of existing loans owing to a subsidiary of HPH Trust by the ACT Holdings group for an aggregate consideration of HK$2,472,000,000 (equivalent to approximately S$403 million).  The JV Alliance, has resulted in a reduction of HPH Trust’s effective interests in ACT Holdings from 100% to 40.0%.  The establishment of the JV Alliance is an important and significant milestone achievement for both HPH Trust and the Hong Kong container port industry as a whole in that (i) not only does it yield a disposal gain of approximately HK$125 million (equivalent to approximately S$20 million) for HPH Trust, (ii) by securing this collaborative and strategically beneficial relationship with both COSCO Pacific and China Shipping, it allows all four berths located at the COSCO-HIT Terminals and the Asia Container Terminals to be operated as one contiguous 1,380 metre long berth, thereby enhancing Hong Kong’s position as a long term transshipment hub within the Pearl River Delta region compensating for the stagnant growth in South China’s transshipment and export volumes in 2013, (iii) servicing multiple mega vessels at this contiguous berth simultaneously is now possible, and (iv) the operational flexibility, efficiencies, synergies, competitiveness, and ultimately profitability of all relevant Hong Kong port operators are expected to be substantively bolstered. 

Portfolio walk since previous posting :-

+$2,360 Total Returns as of 21 March

+$145 Nett gain on sales of HPH Trust, AIMS AMP Ind Reit, SingPost

+$771 Unrealised positions improved

+$3,276 Total Returns as of 28 March

Previous posting :- Cash - Closing Status 21 Mar

Remarks :- Profits locked in to-date $12,954 / year 2014 $1,462

Sunday 23 March 2014

Cash - Closing Status 21 March

Invested into AIMS AMP Industrial Reit 1 lot in this week under Cash portfolio as part of usual portoflio re-balancing.  In its 3Q2014 financial results, NPI +26.6%; available distributable income +29.6%.  DPU +7.4%.  Its NAV as of end Dec'13 was at $1.5183 and its last done share price on this Friday is already at a discount at $1.31 (partly due to recent Rights Issue effect).  Portfolio occupancy rate at 98.2% as of end Dec'13.  Only 2.6% of NLA expiring in 2014.  Redevelopment of its Defu Lane 10 property on schedule and within budget and TOP is expected in May'14; expect income contribution in Sept 2014 quarter.   For the development of phase 2e and 3 of its Gul Way property which upon completion will likely resulting 8.17% NPI yield on cost. 

Added GRP Ltd 10 lots in this week as part of usual portfolio re-balancing; total holding in it now at 86 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.
Portfolio walk since previous posting :-

+$3,438 Total Returns as of 14 March

-$1,078 Unrealised positions worsened

+$2,360 Total Returns as of 21 March

Previous posting :- Cash - Closing Status 14 Mar

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


Sunday 16 March 2014

Cash - Closing Status 14 March

Donated $40 to 365 Cancer Prevention Society in this week. 

Received the following dividends in this week for my Cash portfolio :-
$10.00 Boardroom

Added GRP Ltd 46 lots in this week as part of usual portfolio re-balancing; total holding in it now at 76 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.
Portfolio walk since previous posting :-

+$4,278 Total Returns as of 7 March

-$40 Donation to 365 Cancer Prevention Society

+$10 Dividends collected from Boardroom 

-$811 Unrealised positions worsened

+$3,438 Total Returns as of 14 March

Previous posting :- Cash - Closing Status 7 Mar

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

SRS - Closing status 14 March


Added DBS Group 305 shares in this week under SRS portfolio as part of usual portfolio re-balancing; total holding in it now at 605 shares.  For its 3Q13 financial results and versus year ago :- Net interest income +6% because loans +19% but the impact was partially offset by lower loan spreads and yields on investment securitie; Non-interest income +11% because trade and transaction services, wealth management and treasury cross-selling contributed to the increase; Expenses +5% as staff and other operating costs were higher.  Net profit fwas flat as the increase in total income was offset by higher general and specific allowances, in line with faster loan growth. Non-performing loan rate at 1.2%.

Added GRP Ltd 25 lots in this week as part of usual portfolio re-balancing.  Total holding in it now at 75 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.

 Portfolio walk since previous posting :-

+$6,046 Total Returns as of 7 March 

-$977 Unrealised positions worsened

+$5,068 Total Returns as of 14 March

previous posting :- SRS - Closing status 7 March

Remarks :- Profits locked in to-date $13,450 / year 2014 $848

Thursday 13 March 2014

365 Cancer Prevention Society

Donated $40 to 365 Cancer Prevention Society today.



http://www.365cps.org.sg/


Introduction
365 Cancer Prevention Society (365CPS) is a society with approved Institution of Public Character (IPC) status, registered under Singapore’s National Council of Social Service.
 
Our mission is to serve the community through cancer prevention measures.  This is accomplished through health and nutrition education, promotion of healthy lifestyle and lymphatic detox exercise programs.  We also provide practical and emotional support and care for patients and their family members in their battle against cancer through residential and hospital visitations, counseling and therapy services.
As a non-profit organization, 365CPS depends on public donations to fund all its services and programs.


Services provided by the Society

PATIENT CARE SERVICES
Are you or is anyone in your family a cancer sufferer? Let 365 Cancer Prevention Society (CPS) offer you a helping hand and walk with you (or your loved ones) through the fierce battles of cancer! 365 CPS has a group of caring patient care officers and volunteers, including our cancer survivors who have fought through the tough battles. Our cancer survivors are more than willing to share their personal experiences and support you as you walk through your journey. Together with our volunteers, 365 CPS patient care officers pay frequent visits to our patients at home, hospitals, hospices and call regularly for an up-to-date understanding of our patients’ condition. During such visits and calls, we hope to provide emotional support, counseling and share necessary health advice such as making adjustments to diets, food and exercises to our patients and family members as they combat the battle victoriously.
EMOTIONAL/SPIRITUAL COUNSELLING
There are many reasons why people have cancer. Emotional factors play an important role. Are you aware of this? An unhealthy emotional state does not only cause cancer, it also impedes a person’s recovery. If you were in a depressed or low emotional state, you are welcome to make an appointment with us to walk with you and assist you.

HEALTHY HAPPY TOUR
The treatment of cancer requires a long period of adjustment. For our cancer fighting friends who have long lived in a bustling city, what they need is not just some miracle medicine but the relaxation of their whole body and mind. Healthy happy tour is where our cancer-fighters gather together to enjoy fun and relaxing activities, it is a place where one regains self acceptance, build meaningful friendships in supporting each other throughout the journey of battling cancers. Our Society organizes a tour once every three months for our cancer fighters and those of you who are healthy to go outdoors or any natural sightseeing spots which helps to refresh our minds and body through joyful activities.
AID STATION
Fighting cancer is a lengthy war that entails a lot of toing and froing. It is not just our body, mind and heart that has to fight against the illness, our cancer sufferer friends have also faces many problems that arise in their daily lives.
On the one hand, there is the effect of the loss of income from one’s job with the onset of one’s illness. On the other hand, there is very high medical and treatment costs and added expenditure incurred for nutritious foods during treatment and recovery. Without financial aid especially for low income patients, it is easy for patient to lose hope or give up on him/herself due to financial difficulties and high expenses.

With the current resources that we have, financial aid is given to low income families to help cancer fighting patients in their basic needs such as food, transport, utilities etc. This is to reduce their financial burden as much as possible and encourage patients & family members to keep battling towards recovery. We look forward to greater assistance given to our cancer fighters in the future and it is our hope that with this little that we give, it will bring to our cancer fighters warmth in the road ahead.
LYMPHATIC DETOX EXERCISE AND DETOX DANCE
Apart from the arteries and the veins, the lymphatic system is the third circulatory system in a human body. It has the role of being the collection depot of the toxins in a human body. It is also the largest transportation system of the wastes in the human body and the immune system to prevent illnesses. The lymphatic detox exercise includes the detox exercise and the detox dance. The aim is to help rid the body of toxins that have long accummulated in the lymphatic system and to regain physical health. 365 Cancer Prevention Society Lymphatic Exercise is currently organized islandwide in different parts of Singapore. If you are interested, kindly contact us.

LOVE LUNCH
The love lunch is a healthy and warm gathering. This is held every last Saturday of each month between 10 am and 1 pm. We gather together to enjoy healthy and delicious foods, exchange information about combating cancer and share details about our daily lives. At the same time, the Society also arranges for professional conventionally trained doctors, Chinese traditional medical practitioners, and nutritionists to share information on health issues. This benefits all the attendees and provides a platform to offer each other encouragement and support.
NUTRITION ASSISTANCE
As is well known, chemotherapy is a common course employed by doctors in dealing with various cancers. However, the chemotherapy process does not kill only cancer cells. It also damages many normal cells and tissues and harms the body’s circulatory and immune system. Many cancer sufferer friends may appear to improve temporarily but then their condition will worsen again. Thus, at the same time that the treatment is proceeding, the cancer is still spreading. There is also an increased risk of complications occuring. The Society’s nutrition advice service will teach you, with wisdom, to use natural fruits and vegetables to recover your health. We do not just teach methods in preparing healthy delicious foods, we also, depending on the actual circumstances of the particular cancer sufferer friend, take healthy nutritious foods from our recipes and deliver them, free of charge, to the bedside of that cancer sufferer friend.

HEALTH EDUCATION
Learning is an on-going never-ending process. The concept of life-long learning is gaining more widespread endorsement. Apart from teaching how to combat cancer, the Society also places emphasis on the prevention of cancer. Thus, the Society organizes health seminars and courses every year to spread our message of health and to provide an excellent opportunity for life-long learning.
Having perused the various services provided by the Society, if you have any questions or wish to participate, you are welcome to contact us. For inquiry, please call +65 6337 3368.


http://www.365cps.org.sg/index.php/events

http://www.365cps.org.sg/index.php/volunteering

http://www.365cps.org.sg/index.php/donation

Sunday 9 March 2014

SRS - Closing status 7 March

Received the SRS statement from the bank in this week for Feb month which showed the following dividends collected for my SRS portfolio :-

$45.30 Soilbuild Biz Reit
$65.70 Sabana Reit
$39.40 Keppel Reit
$222.40 CDL Hospitality Trust
$42.74 Cache Logistics Trust

Invested into DBS Group 300 shares in this week under SRS portfolio.  For its 3Q13 financial results and versus year ago :- Net interest income +6% because loans +19% but the impact was partially offset by lower loan spreads and yields on investment securitie; Non-interest income +11% because trade and transaction services, wealth management and treasury cross-selling contributed to the increase; Expenses +5% as staff and other operating costs were higher.  Net profit fwas flat as the increase in total income was offset by higher general and specific allowances, in line with faster loan growth. Non-performing loan rate at 1.2%.

Invested into GRP Ltd 78 lots in this week but reduced it by 28 lots within the same week for $37 nett gain; as part of usual portfolio re-balancing.  Total holding in it now at 50 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.


Portfolio walk since previous posting :-

+$6,242 Total Returns as of 28 Feb

+$416 Dividends from Cache Log, Sabana Reit, CDL HTrust, Keppel Reit, Soilbuild Biz Reit

+$37 Nett gain on sales of GRP
  
-$648 Unrealised positions worsened

+$6,046 Total Returns as of 7 Mar

previous posting :- SRS - Closing status 28 Feb

Remarks :- Profits locked in to-date $13,450 / year 2014 $848

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

CPF - Closing Status 7 Mar

Received the CPF Investment statement from the bank in this week for (Jan) and Feb month.

Collected the following dividends in February month for my CPF portfolio :-
$73.96 Ascott Reit 
$59.10 Keppel Reit
$36.80 Mapletree Logistics Trust
$42.74 Cache Logistics Trust

Portfolio walk since previous posting :-

-$9,008 Total Returns as of 28 Feb

+$213 Dividends received : Ascott Reit, Cache Logistics, Mapletree Logistics, Keppel Reit

-$386 Unrealised positions worsened

-$9,182 Total Returns as of 7 Mar

previous journal :- CPF - Closing Status 28 Feb

Remarks :- Profits locked in to-date $913 / year 2014 $268

Tuesday 4 March 2014

I told you so ...

Once l said, the fat bear is coming

No joy as all we have now are bad tidings

Right time now to sell or right time to buy?

Days, weeks, months gone by

Still no sign of fat bear

My coffer will soon go bare

You guys can still laugh out loud

One day soon, you will wail out loud

Then l will say "limpeh kali kong" or "l told you so ..."

Sunday 2 March 2014

Cash - Closing Status 28 February

Received the following dividends in this week for my Cash portfolio :-
$36.98 Ascott Reit 
$46.90 K-Green Trust
$102.48 Suntec Reit
$42.74 Cache Logistics Trust

Divested away Singapore Shipping Corp (SSC) 1 lot in this week for $19 nett gain as part of usual portfolio re-balancing.   For its 3Q2014 financial results, revenue +69.9%, profit +28.4%.  The newly acquired agency and logistics business helped to reduce revenue shortfall in ship owning and management.  Ship-owning reported a lower Q3 net profit owing to the offhire of a vessel for drydocking.  The lower depreciation rate for two vessels (in drydocking) and contributions from the newly acquired agency and logistics businesses more than made up for the shortfall in profits.  Lower net cash from operating activities because of lower income from ship-owning; but this was partially offset by contributions from agency and logistics businesses.  Ship-owning’s operating results are expected to be better in 4Q2014 and the next financial year as no downtime for drydocking is expected. The delivery of a 6,500-unit pure car and truck carrier for long-term charter to a blue chip operator is on schedule.  The sale of its car carrier "MV Singa Ace" was completed on 14 Feb'14 and the gain on disposal of approximately USD 0.9 million is highly likely to be accounted for in 4Q2014.  MV Singa Ace is 30 years old and its class survey and statutory certificates will expire on 20 February 2014.

Re-invested into Soilbuild Reit 1 lot in this week as part of usual portfolio re-balancing.  Its 4Q2013 financial results has exceeded the forecast set out in its IPO prospectus, with most of the key drivers to the result performing better than expectation.  Revenue, property expenses and finance costs all recorded positive variances and contributed to an overall outperformance on the distributable income line.  Its share price as of this Friday was at $0.76 and is currently below its NAV as of end Dec'13 of $0.80.  Earliest debt maturity is in year 2015, are equally spread out over three years (2015-2017).  It received a BBB- investment grade credit rating from Standard & Poor’s on Jan 22, and the management plans to raise its long term gearing target to between 35% and 40% from its current gearing of 29.3%, giving it an additional $75 million to $80 million in debt headroom for acquisitions. It plans to acquire industrial properties in Woodlands within FY2014.  Occupancy rate 99.9%.   17% of its net lettable area is due for renewal in 2014 and about 47% of that has been pre-committed, with the rest under negotiations.

Divested away K-Green Trust 2 lots in this week at break-even as part of usual portfolio re-balancing.  For its 4Q2013 financial results revenue -5.7% versus last year; profit -1.4%.  It is quite a defensive stock as all three assets in its portfolio have long-term concession agreements with NEA and PUB.   Senoko Trust and Tuas DBOO Trust derive most of their income from capacity payments, which offer a stable source of income with little correlation to economic or demographic fluctuations.  Ulu Pandan Tust's income is derived in equal parts from availability payments and from NEWater output payments.   Its current businesses have been locally based so far and probably likely to stay the same in the next financial year.  Let's see.

Increased HPH Trust 1 lot in this week as part of usual portfolio re-balancing; total holding in it now at 6 lots.  Attractive valuation after recent share price correction.  In its 4Q2013 revenue -0.8% and profit -34.2% versus last year.   The average revenue per TEU for Hong Kong came in lower due to one-off concession granted to liners after industrial action in HIT port;  also came in lower for China due to adverse throughput mix of containers from liners.  Cost of services rendered +10.3% and Staff costs +12.5% due to RMB appreciation, inflationary pressure, higher container throughput and ACT's staff costs after the acquisition.  Its share price dropped to a 52 weeks low at $0.755 on 11 Dec'13; its end of Dec'13 NAV at HKD 7.26 (approx. SGD 1.19); last done share price on this Friday at $0.795.  Growth in the US and Europe is a major factor in determining the total volume of containers handled by HPH Trust.  Consensus outlook for both is favourable in 2014.

Reduced GRP Ltd 20 lots in this week for $99 nett gain as part of usual portfolio re-balancing; total holding in it now at 11 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.

Divested Croesus Retail Trust 1 lot in this week for a small $5 nett gain but have decided to re-invest into it 1 lot within the same week; 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 intention to acquire  two income-producing retail properties in Japan, namely Luz Omori and NIS Wave which upon completion will increase DPU approximately from 7.01 Singapore cents to 7.41 Singapore cents.
Portfolio walk since previous posting :-

+$2,940 Total Returns as of 21 February

+$229 Dividends from Ascott Reit, Cache Logistics, K-Green Trust, Suntec Reit

+$123 Nett gain on sales of Sp Ship, Croesus, GRP

+$456 Unrealised positions improved

+$3,748 Total Returns as of 28 February

Previous posting :- Cash - Closing Status 21 Feb

Remarks :- Profits locked in to-date $12,567 / year 2014 $1,075

Saturday 1 March 2014

SRS - Closing status 28 February

In my srs portfolio l have existing counter on AIMS AMP Industrial Reit 2 lots and and hence l am given AIMSAMPI Reit Rights of 0.350 lot.  In this week l have sold away my 'nil paid' AIMSAMPI Reit Rights 0.350 lot for a nett proceed of $60.
Portfolio walk since previous posting :-

+$6,007 Total Returns as of 21 Feb

+$60 Nett gain on sales of AIMSAMPI Reit rights
  
+$175 Unrealised positions improved

+$6,242 Total Returns as of 28 Feb

previous posting :- SRS - Closing status 21 Feb

Remarks :- Profits locked in to-date $12,998 / year 2014 $396

CPF - Closing Status 28 Feb

In my cpf portfolio l have existing counter on AIMS AMP Industrial Reit 2 lots and and hence l am given AIMSAMPI Reit Rights of 0.350 lot.  In this week l have sold away my 'nil paid' AIMSAMPI Reit Rights 0.350 lot for a nett proceed of $56.

Portfolio walk since previous posting :-

-$7,135 Total Returns as of 2013 Dec 31

+$56 Nett gain from sales of AIMSAMPI Reit rights

-$1,929 Unrealised positions worsened

-$9,008 Total Returns as of 28 Feb

previous journal :- CPF - Closing Status 31 Dec

Remarks :- Profits locked in to-date $700 / year 2014 $56

BrainyQuote

The Motley Fool

NextInsight

PropertyGuru

SGX News

Hellenic Shipping News

Singapore Law

Business Google News

Business Times