SRS - Closing status 17 April

Reduced Tee International 15 lots as part of usual portfolio re-balancing for $166 nett gain; total holding now at 45 lots.  Tee Intl soft financial results for 3Q2014; revenue -29.5% due to lower recognition of revenue and profit -ve 13% due to higher admin costs from the acquisition of Interlift Sales Pte Ltd.  It  proposed an issue of 2 warrants for every 5 shares issue (exercise price of S$0.25 per warrant)  to strengthen its capital base and support its expanding business activities.

Divested away Mapletree Logistics 2 lots in this week at small nett profit of $13 as part of usual portfolio re-balancing.  For its 3Q2014 financial results, NPI -0.2%; excluding the forex impact then NPI +4.0%.  Borrowing costs -23% due to lower average interest rates achieved and weaker JPY.  Impact of weaker JPY on distribution is mitigated by currency hedges.  95% of amount distributable is hedged into / derived in SGD.  100% of income stream from Japan has been hedged.  Amount distributable to unitholders +8% driven by enlarged portfolio, positive rental reversions and lower financing costs.  NAV as of end Dec'13 at $0.93 but Mr Market says it is worth $1.085 at the moment.  Aggregate leverage ratio 33.9%.  73% of total debt hedged into fixed rates.  Portfolio occupancy 98.4%.    

Divested away Mapletree Industrial 2 lots in this week under CPF portfolio as part of usual portfolio re-balancing for $53 nett gain.   Using previous quarter dividends rate, the expected Qtr 4 dividends will be at $50 (2 lots x $0.0251) so, l have already collected its Qtr 4 dividends in advance. In 2013, the payment date was on 4th June.  For its 3Q2014 financial results, NPI +12.0%.  81% of borrowings had been hedged through interest rate swaps and fixed rate borrowings.  Amount distributable to unitholders +12.0%.  NAV as of end Dec'13 at $1.11 but Mr Market says it is worth $1.425 at the moment.   Aggregate leverage ratio 36.3%.  As of end Dec'13, net current liabilities position due to the reclassification of long term borrowings which are maturing in Aug'14 and Sep'14 (for financial year 2015).  It has existing banking facilities available to refinance most of these borrowings and has also obtained in-principle agreement with certain banks to refinance these loans on a longer term basis.  Portfolio occupancy 92.5%.  It recently signed a sale and purchase agreement to acquire a four-storey light industrial building located at 2A Changi North Street 2 on a sale-and-leaseback arrangement; completion of acquisition expected in 2nd Quarter of 2014.  has signed an agreement with Hewlett-Packard Singapore to develop and lease a new build-to-suit facility (BTS) at its existing Telok Blangah Cluster.  The proposed redevelopment is slated for completion in the first half of 2017 and will be carried out in two phases.  It has sufficient financial capacity to fund the BTS Facility.  Assuming the BTS Facility is fully funded by debt, the aggregate leverage ratio is expected to increase progressively from 36.3% (as at 31 December 2013) to 41.0% upon completion of the BTS Facility.

Invested into CM Pacific 5 lots in this week under SRS portfolio as part of usual portfolio re-balancing.  Revenue for FY2013 +31% mainly due to the consolidation of contribution from Beilun Port Expressway, which was acquired in November 2012 and the revenue growth from
Yongtaiwen Expressway.   Profit was flat; the exceptional gain of HK$365.1 million recorded on disposal of Yu Yao joint ventures in 2012, offset by impairment loss adjustments amounting to HK$87.4 million upon remeasurement of the property development business classified as disposal group.  It maintains its free cash flow status. It declares higher final dividend of 4.25 cents per share.

Divested away CDL Hospitality Trusts 2 lots at a small nett profit of $25 in this week, as part of usual portoflio re-balancing.  For its 4Q13 results, net property income +2.5%; income available for distribution per unit +0.6%.  Income from acquisition growth in 2013 has mitigated the impact of the softer trading conditions experienced in Singapore.  Its healthy gearing puts it in good stead to capitalise on expansion opportunities as it continues to actively seek yield-accretive acquisition opportunities in the hospitality sector.  Orchard Hotel Shopping Arcade, currently under AEI will be rebranded as "Claymore Link"; incremental rental income to be more than S$2.0 million on an annualized basis.

Portfolio walk since previous posting :-

+$8,331 Total Returns as of 11 April

+$257 Nett gains on sales of Tee Intl, Mapletree Logistics, Mapletree Industrial, CDL HTrust

+$259 Unrealised positions improved

+$8,847 Total Returns as of 17 April

previous posting :- SRS - Closing status 11 April

Remarks :- Profits locked in to-date $15,044 / year 2014 $2,442

CPF - Closing Status 17 April

Divested away Mapletree Logistics 2 lots in this week at break-even as part of usual portfolio re-balancing.  For its 3Q2014 financial results, NPI -0.2%; excluding the forex impact then NPI +4.0%.  Borrowing costs -23% due to lower average interest rates achieved and weaker JPY.  Impact of weaker JPY on distribution is mitigated by currency hedges.  95% of amount distributable is hedged into / derived in SGD.  100% of income stream from Japan has been hedged.  Amount distributable to unitholders +8% driven by enlarged portfolio, positive rental reversions and lower financing costs.  NAV as of end Dec'13 at $0.93 but Mr Market says it is worth $1.085 at the moment.  Aggregate leverage ratio 33.9%.  73% of total debt hedged into fixed rates.  Portfolio occupancy 98.4%.    

Divested away Mapletree Industrial 2 lots in this week under CPF portfolio as part of usual portfolio re-balancing for $52 nett gain.   Using previous quarter dividends rate, the expected Qtr 4 dividends will be at $50 (2 lots x $0.0251) so, l have already collected its Qtr 4 dividends in advance. In 2013, the payment date was on 4th June.  For its 3Q2014 financial results, NPI +12.0%.  81% of borrowings had been hedged through interest rate swaps and fixed rate borrowings.  Amount distributable to unitholders +12.0%.  NAV as of end Dec'13 at $1.11 but Mr Market says it is worth $1.425 at the moment.   Aggregate leverage ratio 36.3%.  As of end Dec'13, net current liabilities position due to the reclassification of long term borrowings which are maturing in Aug'14 and Sep'14 (for financial year 2015).  It has existing banking facilities available to refinance most of these borrowings and has also obtained in-principle agreement with certain banks to refinance these loans on a longer term basis.  Portfolio occupancy 92.5%.  It recently signed a sale and purchase agreement to acquire a four-storey light industrial building located at 2A Changi North Street 2 on a sale-and-leaseback arrangement; completion of acquisition expected in 2nd Quarter of 2014.  has signed an agreement with Hewlett-Packard Singapore to develop and lease a new build-to-suit facility (BTS) at its existing Telok Blangah Cluster.  The proposed redevelopment is slated for completion in the first half of 2017 and will be carried out in two phases.  It has sufficient financial capacity to fund the BTS Facility.  Assuming the BTS Facility is fully funded by debt, the aggregate leverage ratio is expected to increase progressively from 36.3% (as at 31 December 2013) to 41.0% upon completion of the BTS Facility.

Divested away Keppel Reit 3 lots in this week as part of usual portfolio re-balancing for $33 nett gain which is only 55% of the actual dividends declared (3 lots x $0.0197 x 55%).  In its recent 1Q2014 financial results and versus last year;  DPU stayed the same at 1.97 cents;  Property expenses  now stabilized at +4.3%;  NPI higher by 14.7% resulted from improved performance from Ocean Financial Centre and Prudential Tower, as well as the additional income from 8 Exhibition Street in Melbourne;  Profit +20.1% due to higher NPI, higher interest income, higher share of results of associates and jv, lower trust expenses and lower amortization expenses; but offset by lower rental support, higher borrowing costs and management fees as a results of the larger portfolio of assets under management.  As of end Qtr 1, its NAV was valued at $1.39 but Mr Market believes that it is worth much lesser with its Friday closing price at $1.24.  99.8% committed occupancy as at end Mar'14.  Approximately 3.1% of portfolio NLA due for renewal and 6.3% of portfolio NLA due for rent review in 2014.  Nearly 68% of the borrowings are at fixed interest rates.  In 1Q 2014, early refinancing of a further 33% and 16% of borrowings due in 2015 and 2016 respectively.   Aggregate leverage at 42.4%.

 Portfolio walk since previous posting :-

-$7,902 Total Returns as of 11 Apr

+$86 Nett gain on sales of Keppel Reit, Mapletree Industrial, Mapletree Logistics

+$1,298 Unrealised positions improved

-$6,517 Total Returns as of 17 Apr

previous journal :- CPF - Closing Status 11 Apr

Remarks :- Profits locked in to-date $1,226 / year 2014 $581

SRS - Closing status 11 April

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

$73.60 Mapletree Logistics
$50.20 Mapletree Industrial
$55.40 AIMS AMP Industrial
$202.50 Tee International
$330.40 Asian Pay TV
$157.20 Croesus Retail

Added Tee International 15 lots as part of usual portfolio re-balancing; total holding now at 60 lots.  Tee Intl soft financial results for 3Q2014; revenue -29.5% due to lower recognition of revenue and profit -ve 13% due to higher admin costs from the acquisition of Interlift Sales Pte Ltd.  It  proposed an issue of 2 warrants for every 5 shares issue (exercise price of S$0.25 per warrant)  to strengthen its capital base and support its expanding business activities.

Portfolio walk since previous posting :-

+$6,235 Total Returns as of 4 April

+$869 Dividends - AIMS AMP Industrial, Croesus, Asian Pay TV, Tee Intl, Mapletree Logistics, Mapletree Industrial

+$1,227 Unrealised positions improved

+$8,331 Total Returns as of 11 April

previous posting :- SRS - Closing status 4 April

Remarks :- Profits locked in to-date $14,787 / year 2014 $2,185

CPF - Closing Status 11 April

Received the CPF Investment statement from the bank in this week for March month. Have updated CPF portfolio with the correct charges incurred on both investments and divestments made.

Collected the following dividends in March month for my CPF portfolio :-

$135.00 Tee International
$55.40 AIMS AMP Industrial Reit
$50.20 Mapletree Industrial

Divested away Ascott Reit for a small nett gain of $12 as part of usual portfolio re-balancing in this week.  In its 4Q2013 financial results, revenue +11% mainly due to the additional contribution of S$8.3 million from the properties acquired in November 2012 and June 2013 and stronger performance from Belgium and France.  RevPAU -7% mainly due to weaker performance from Philippines and Japan (arising from depreciation of Japanese Yen) and relatively lower average daily rate from the newly acquired properties in China.  It made two yield accretive acquisitions recently; (1) serviced residence property in Dalian, China (2) rental housing property in Fukuoka, Japan.   In China, it currently owns seven serviced residences with more than 1,200 apartment units across Beijing, Guangzhou, Shanghai, Shenyang, Suzhou and Tianjin.  In Japan, it currently owns three serviced residences and 30 rental housing properties with about 1,900 apartment units across major cities including Tokyo, Fukuoka, Hiroshima, Kyoto, Saga, Sapporo and Sendai.

 Portfolio walk since previous posting :-

-$9,182 Total Returns as of 7 Mar

+$241 Dividends received : Mapletree Industrial, Tee Intl, AIMS AMP Industrial

+$12 Nett gain on sales of Ascott Reit

-$26 Realized transactions differences and Qtr 1 service charge per CPF Investment statement

+$1,053 Unrealised positions improved

-$7,902 Total Returns as of 11 Apr

previous journal :- CPF - Closing Status 7 Mar

Remarks :- Profits locked in to-date $1,139 / year 2014 $495

CPF - Closing Status 29 November

Invested into Mapletree Industrial 2 lots in this week under CPF portfolio.   For its 2Q2014 financial results, NPI +11.6% despite the exit of a major tenant.  81% of borrowings had been hedged through interest rate swaps and fixed rate borrowings.  Amount distributable to unitholders +9.7%.  NAV as of end Sep'13 at $1.11 but Mr Market says it is worth $1.35 at the moment.   Aggregate leverage ratio 36.2%.  As of end Sep'13, net current liabilities position due to the reclassification of long term borrowings which are maturing in Aug'14 and Sep'14 (for financial year 2015); which it has commenced discussions with banks to either extend or refinance these loans.  Portfolio occupancy 93.9%.

Invested into Mapletree Logistics 2 lots in this week.  For its 2Q2014 financial results, NPI -1.3%; excluding the forex impact then NPI +3.4%.  Borrowing costs -27% due to lower average interest rates achieved and weaker JPY.  Impact of weaker JPY on distribution is mitigated by currency hedges.  Amount distributable to unitholders +7% driven by enlarged portfolio, positive rental reversions and lower financing costs.  NAV as of end Sep'13 at $0.93 but Mr Market says it is worth $1.05 at the moment.  Aggregate leverage ratio 34.4%.  74% of total debt hedged into fixed rates.  Portfolio occupancy 98.7%.    

l will know the exact investment costs and divestment proceeds when the bank send the CPF Investment statement to me after month end; which l will then make necessary update to the Total Returns.

Portfolio walk since previous posting :-

-$6,992 Total Returns as of 22 Nov

-$44  Unrealised positions worsened

-$7,036 Total Returns as of 29 Nov

previous journal :- CPF - Closing Status 22 Nov

SRS - Closing status 29 November

Invested into Mapletree Industrial 2 lots in this week under SRS portfolio.   For its 2Q2014 financial results, NPI +11.6% despite the exit of a major tenant.  81% of borrowings had been hedged through interest rate swaps and fixed rate borrowings.  Amount distributable to unitholders +9.7%.  NAV as of end Sep'13 at $1.11 but Mr Market says it is worth $1.35 at the moment.   Aggregate leverage ratio 36.2%.  As of end Sep'13, net current liabilities position due to the reclassification of long term borrowings which are maturing in Aug'14 and Sep'14 (for financial year 2015); which it has commenced discussions with banks to either extend or refinance these loans.  Portfolio occupancy 93.9%.

Invested into Mapletree Logistics 2 lots in this week.  For its 2Q2014 financial results, NPI -1.3%; excluding the forex impact then NPI +3.4%.  Borrowing costs -27% due to lower average interest rates achieved and weaker JPY.  Impact of weaker JPY on distribution is mitigated by currency hedges.  Amount distributable to unitholders +7% driven by enlarged portfolio, positive rental reversions and lower financing costs.  NAV as of end Sep'13 at $0.93 but Mr Market says it is worth $1.05 at the moment.  Aggregate leverage ratio 34.4%.  74% of total debt hedged into fixed rates.  Portfolio occupancy 98.7%.    

Reduced Asian Pay TV(APTT) 5 lots at $41 nett gain as part of usual portfolio re-balancing.  Total holding in it now at 8 lots under SRS portfolio.  Subscriber households have grown, average revenue per subscriber is constant, penetration rates have increased, all leading to growth in recently acquired Taiwan Broadband Communications (TBC) earnings.  Taiwan regulator already approved TBC expansion to greater Taichung which opens up opportunity to increase  household network coverage by up to 400,000.  NAV as of end Sep'13 at $0.91 and last done share price at discount of $0.78.  Interest rate swaps have been entered into, which fix a significant portion of the interest rate exposure from TBC's borrowings.  For growth in penetration rates, premium digital cable tv and broadband to increase as a result of up-selling and bundling strategies, increased set-top box penetration, greater availability of digital content, need for reliable internet access.  Network expansion through re-zoning is an opportunity for APTT.  Positive ongoing discussions with Taiwan tax authorities to resolve tax dispute.

Portfolio walk since previous posting :-

+$7,591 Total Returns as of 22 Nov

+$41 Gain on sales of Asian Pay TV

+$36 Unrealised positions improved

+$7,666 Total Returns as of 29 Nov

previous posting :- SRS - Closing status 22 Nov
 

SRS - Closing status 25 October

Increase my position in Asian Pay TV 5 lots in this week so l have total holding of 8 lots now under SRS portfolio.  At the moment, l can expect 11.0% dividend yield for my 8 lots holding in it.   Towards the final hours on this Friday's close, its share price got hammered down suddenly and this can only be the works of traders wanting to earn quick profits.  l have the intention to adding more of it to my holding if its share price weakens further, again.


Divested away Mapletree Industrial 5 lots in this week by using the dividend declared as my exit selling price.  It goes XD on 28 Oct but for this week's divestment which was for a nett gain of $139 then this can be considered as collecting its dividends in advance which is 12% higher than the dividend declared ---> 5 lots x dividend rate $0.0247 x 112% = $139.   

Invested into Mapletree Greater China Commercial Trust 5 lots in this week.  Its current share price is already below its IPO price $0.93 but still above its post-IPO low of $0.83.   Based on my investment costs in it l can expect annual dividend yield of 6.0%.

Portfolio walk since previous posting :-

+$7,966 Total Returns as of 18 Oct

+$139 Gain on sales of Mapletree Industrial

+$85 Unrealised positions improved

+$8,190 Total Returns as of 25 Oct

previous posting :- SRS - Closing status 18 Oct

CPF - Closing Status 25 October

Divested away Mapletree Industrial 4 lots in this week by using the dividend declared as my exit selling price.  It goes XD on 28 Oct but for this week's divestment which was for a nett gain of $118 then this can be considered as collecting its dividends in advance which is 19% higher than the dividend declared ---> 4 lots x dividend rate $0.0247 x 119% = $118.  

l will know the exact investment costs and divestment proceeds when the bank send the CPF Investment statement to me after month end; which l will then make necessary update to the Total Returns.

Portfolio walk since previous posting :-

-$6,602 Total Returns as of 11 Oct

+$118 Gain on sales of Mapletree Industrial

+$613  Unrealised positions improved

-$5,871 Total Returns as of 25 Oct

previous journal :- CPF - Closing Status 11 Oct

Cash - Closing Status 25 October

Increase my position in Asian Pay TV 2 lots in this week so l have total holding of 23 lots now under Cash portfolio.  At the moment, l can expect 10.9% dividend yield for my 23 lots holding in it.   Towards the final hours on this Friday's close, its share price got hammered down suddenly and this can only be the works of traders wanting to earn quick profits.  l have the intention to adding more of it to my holding if its share price weakens further, again.

Made a $30 donation to Singapore Association of the Visually Handicapped in this week.

Reduced Suntec Reit 1 lot in this week by using the dividend declared as my exit selling price.  It goes XD on 30 Oct but for this week's divestment which was for a nett gain of $26 then this can be considered as collecting its dividends in advance which par to the dividend declared ---> 1 lot x dividend rate $0.02289 = $23.  

Added Mapletree Greater China Commercial Trust 5 lots in this week; bringing my total holding in it now at 9 lots.  Its current share price is already below its IPO price $0.93 but still above its post-IPO low of $0.83.   Based on my investment costs in it l can expect annual dividend yield of 5.9%.

Divested away Mapletree Industrial 2 lots in this week by using the dividend declared as my exit selling price.  It goes XD on 28 Oct but for this week's divestment which was for a nett gain of $51 then this can be considered as collecting its dividends in advance which par to the dividend declared ---> 2 lots x dividend rate $0.0247 = $49. 

Invested into Singapore Shipping Corp 3 lots.   It pays dividends only once in a year and have been quite stable at dividend rate of $0.01 since year 2009 which is 4.5% yield based on my invested costs in it. No Singapore finance company or bank can match such high a fixed deposit interest rate (of 4.5%) for a "fixed deposit" amount less than $1k.

Reduced Ascendas India Trust 3 lots so my total holding of it now back to 1 lot.  Achieved $50 nett gain from the divestment for a holding period of only two weeks.  It goes XD on 11 Nov and payment date is 28 Nov.   l am getting 25% lesser on the dividend amount but l am still okay with it ---> 3 lots x dividend rate $0.0224 x 75% = $50.  l can already use the proceeds for other investment opportunity instead of waiting for its dividend payment date on 28 Nov.

Portfolio walk since previous posting :-

+$4,080 Total Returns as of 18 October

-$30 Donation to Singapore Association of the Visually Handicapped

+$127 Gain on sales of Ascendas India Trust, Mapletree Industrial, Suntec Reit

+$399 Unrealised positions improved

+$4,577 Total Returns as of 25 October

Previous posting :-Cash - Closing Status 18 Oct

SRS - Closing status 18 October

Invested into Keppel Reit 2 lots under SRS portfolio in this week; just before it goes XD this coming Monday 21 October.  It reported a strong and steady performance for 3Q2013; Net Revenue +6.8%, Profit +20%.  No refinancing requirements over the next 24 months.  Strong portfolio occupancy of 99.4% as at 3Q2013.

Invested into Mapletree Industrial 5 lots under SRS portfolio for this week.  In its previous 1Q2014 results, it reported higher distributable income which was higher by 9% versus year ago because of higher rental rates secured across all its property segments and achieving higher occupancies.  I am expecting the same good results for its 2Q2014 results to be released this coming Tuesday on 22nd October.  Based on my investment costs in it l will be getting dividend yield 7.0% per year. 

Portfolio walk since previous posting :-

+$8,524 Total Returns as of 11 Oct

-$558 Unrealised positions worsened

+$7,966 Total Returns as of 18 Oct

previous posting :- SRS - Closing status 11 Oct

CPF - Closing Status 11 October

Received the CPF Investment statement from the bank in this week for September month. Have updated CPF portfolio with the correct charges incurred on both investments and divestments made in September month.

Re-invested into Mapletree Industrial 4 lots in this week under CPF portfolio after having divested it all away in September.   It completed development of the build-to-suit for Kulicke & Soffa corporate headquarters in Serangoon North Avenue 5 this October month for a 10-year lease terms.  Its 2Q2014 results will be released on 22 October and it is likely to report a higher rental rates secured across all its property segments and achieving higher occupancies which is similar to previous quarter achievement.

Re-invested into Cache Logistics Trust 10 lots in this week under CPF portfolio after having divested it all away in July.  Good results back in 2Q2013. DPU grew by 8.4% even though unit base got increased after its recent private placement in Mar'13. No logistics warehouse (properties) renewal risk in 2013 as all expiring leases have been renewed. Next leases renewal happening in year 2014 is for a small gross floor area of 6%. I am expecting same good results for 3Q2013 to be released on 23 October and at the same time furnish information of increased investments in China logistics warehouse properties.

Invested into Tee International 5 lots in this week before it went XD on 9 October.  It has been paying an increasing dividend every year.  Dividend rate for 2013 at $0.0315 which translates to a yield of 9.3% on the last closing price this week of $0.34 (year 2012 : dividend rate $0.0235, yield 6.9%; year 2011 : dividend rate $0.0225, yield 6.6%; year 2010 : dividend rate $0.022, yield 6.5%; year 2009 : dividend rate $0.012, yield 3.5%). 

Portfolio walk since previous posting :-

-$6,660 Total Returns as of 4 Oct

-$26 Realized transactions differences per CPF Investment statement from bank

+$84  Unrealised positions improved

-$6,602 Total Returns as of 11 Oct

previous journal :- CPF - Closing Status 4 Oct

Cash - Closing Status 4 October

Divested  UMS 20 lots in this week for a nett gain of $246 using the exit selling price based on the expected dividend amount.  It goes XD on 8th October and dividend payment date is on 29 October.  For 20 lots, dividend amount would have been at $200 = 20 lots x dividend rate $0.01.  The $246 nett gain is higher than the expected dividend amount of $200 and l have added the proceeds back into my war chest.  Also, l have already collected its dividends in advance.

Added Cache Logistics 1 lot in this week under Cash portfolio bringing my total holding in it at 5 lots now.  Good results for 2Q2013.  DPU grew by 8.4% even though unit base got increased after its recent private placement in Mar'13.  No logistics warehouse (properties) renewal risk in 2013 as all expiring leases have been renewed.  Next leases renewal happening in year 2014 is for a small gross floor area of 6%.  I am expecting same good results for 3Q2013 to be released on 23 October and at the same time furnish information of increased investments in China logistics warehouse properties.

Added Mapletree Industrial 1 lot under Cash portfolio for this week so l have total holding of 2 lots of it now.  In its previous 1Q2014 results, it reported higher distributable income which was higher by 9% versus year ago because of higher rental rates secured across all its property segments and achieving higher occupancies.  I am expecting the same good results for its 2Q2014 results to be released on 22nd October.  Based on my investment costs in it l will be getting dividend yield 7.0% per year.

Portfolio walk since previous posting :-

+$4,191 Total Returns as of 27 Sept

+$246 Gain on sales of UMS

-$763 Unrealised positions worsened

+$3,674 Total Returns as of 4 October

Previous posting :-Cash - Closing Status 27 Sep

CPF - Closing Status 20 September

Divested all of my holding in Mapletree Industrial 6 lots in this week under CPF portfolio for a $106 nett gain.  In its previous 1Q2014 results, it reported higher distributable income which was higher by 9% versus year ago because of higher rental rates secured across all its property segments and achieving higher occupancies. Will re-invest into it when its share price weakens.

l will know the exact investment costs and divestment proceeds when the bank send the CPF Investment statement to me after month end; which l will then make necessary update to the Total Returns.

Portfolio walk since previous posting :-

-$9,045 Total Returns as of 6 Sept

+$106 Gain on sales of Mapletree Industrial

+$2,514  Unrealised positions improved

-$6,425 Total Returns as of 20 Sept

previous journal :- CPF - Closing Status 6 Sept

Cash - Closing Status 30 August

Divested away AIMS AMP Industrial Reit 1 lot in this week under Cash portfolio for a $28 nett gain after 1 week of investment into it.  Assuming that its next dividend rate same as last year at $0.025 and payment date around 20 Dec so the $28 nett gain was slightly higher than the expected dividend amount  ---> 1 lot x dividend rate $0.025 x 1.11 times.  And l have already collected the dividends in advance by almost four months and also l can re-use the proceeds for other investment opportunity.

Added Ascott Reit 1 lot in this week.  So my total holding in it now at 2 lots.   Based on my investment costs in it l can expect a 6.9% dividend yield if l am really stuck with my investment in it.

Donated $25 to Equal Ark in this week

My investment increased in Far East Hospitality Trust 1 lot so l have total holding of 7 lots now.  Based on my investment cost in it l can expect 6.0% (based on run rate) of annual dividend from it.  This Trust is all-Singapore based hotels and serviced residences so it will be interesting to see how well it can withstand the ongoing adverse micro and macro events locally and globally.


Re-invested into First Reit 1 lot in this week under Cash portfolio after having divested it away in the previous week with nett gain higher than the forecasted dividend payment in Nov'13.  I did the same for this week.  I have divested my 1 lot holding in the same week for $25 nett gain versus expected dividend payment in Nov'13 of $17 (1 lot x dividend rate $0.0168).  So l have collected its dividend in advance by three months and at a higher amount too.  It is very important to set an exit selling price and l have attained peace of mind with my stock investment.

Invested into K-Green Trust 1 lot in this week and it comes with an annual dividend yield of 7.7% based on my investment costs in it.  Its current businesses have been locally based so far.  Having gut feeling that it will spread its wings to Asia Pacific and Europe soon.  It will be confirmed once there is new  company incorporation.

Received the following dividends in this week for my Cash portfolio :-
$40.81 Ascott Reit
$42.94 Cache Logistics
$108.20 CDL Hospitality Trusts
$39.40 Keppel Reit
$112.45 Suntec Reit

It must have been hasty move when l have invested into KrisEnergy 2 lots in this week without further verifying on its potential dividend payout;  which l later found out that they do not have intention to pay any dividend.  l was lucky to have been able to divest it away for a $38 nett gain.  I am not into trading or speculation and also not so keen with growth stock so l am depending on reasonably good dividend stock.

Added Mapletree Industrial 1 lot under Cash portfolio for this week so l have total holding of 2 lots of it now.  In its recent 1Q2014 results, it reported higher distributable income which was higher by 9% versus year ago because of higher rental rates secured across all its property segments and achieving higher occupancies.  Based on my investment costs in it l will be getting dividend yield 7.1% per year.

Invested into OUE HTrust 1 lot.  Using dividend rate $0.0477 ( for 9 months financial) from its IPO prospectus and based on my investment costs in it so l can expect annual dividend yield of promising an annual dividend yield of 7.4%.  First dividend payment will happen some time March 2014.  l am eyeing an advance dividend from it, probably using a few round of investments and divestments.

To diversify further, for this week under Cash portfolio l have invested into Perennial China Retail Trust 2 lots.  If l hold it for long term then l can expect 7.5% dividend yield per year based on my investment costs in it.

I am not sure whether it was a risky decision when l have invested into Sabana Reit 1 lot in this week.  At the moment there is no new development yet on the four master leases expiring in Nov'13.  I am hoping that it will not materially affecting my expectation of 8.2% dividend yield per year based on my investment costs in it.     

Allocated a small investment funds into Sin Ghee Huat 2 lots in this week.  My total holding in it now at 3 lots.  It reported poorer results versus year ago recently but l will not be worrying so much of it.  Its business served five segments :- marine and shipbuilding, oil and gas and petrochemicals, building and construction, machining and processing, and trading and others so there will always be opportunities out there for it.  I am eyeing an advance dividends from it as l have already set an exit selling price for it.

Portfolio walk since previous posting :-

+$206 Total Returns as of 23 Aug

+$90 Gain on sales of First Reit, KrisEnergy, AIMS AMP

+$344 Dividends collected from Ascott Reit, Cache Logistics, CDL HTrust, Keppel Reit. Suntec Reit

-$25 Donation to Equal Ark

-$561 Unrealised positions worsened

+$54 Total Returns as of 30 Aug

Previous posting :-Cash - Closing Status 23 Aug

CPF - Closing Status 23 August

For my CPF portfolio this week l have invested into Mapletree Industrial 3 lots.  It pays reasonably good annual dividend of 7.1% based on my investment costs in it so l am okay to be stucked with this investment.

Portfolio walk since previous posting :-

-$7,554 Total Returns as of 16 Aug

-$1,095 Unrealised positions worsened

-$8,648 Total Returns as of 23 Aug

previous journal :- CPF - Closing Status 16 Aug

Cash - Closing Status 16 August

For my Cash portfolio this week l have invested into Mapletree Industrial 1 lot.  It pays reasonably good dividend of 6.9% based on my investment costs in it so l am okay to be stucked with this investment.

 
Portfolio walk since previous posting :-

+$2,800 Total Returns as of 7 Aug

-$909 Unrealised positions worsened

+$1,891 Total Returns as of 16 Aug

Previous posting :-Cash - Closing Status 7 Aug

Cash - Closing Status 9 Mar

No other transactions this week except dividends received in the mail on Cache, SingPost, Sabana Reit, First Reit, Starhill and Mapletree Industrial.

Portfolio walk since previous posting :-

$790 Total Returns as of 2 Mar 

+$314 Dividends from Cache, SingPost, Sabana Reit, First Reit, Starhill and Mapletree Industrial

-$155 Unrealised positions worsened

$949 Total Returns as of 9 Mar


previous posting :- Cash - Closing Status 2 Mar

Cash - Closing Status 17 Feb

For this week under the Cash portfolio :-

Bought SingPost 10 lots, M1 3 lots, STX OSV 3 lots
Sold Starhill Reit 6 lots, Mapletree Industrial 2 lots, STX OSV 3 lots, Nam Lee 11 lots and First Reit 3 lots.

Sold Starhill Reit, Mapletree Industrial and First Reit as these have gone ex-dividend and l can get back the invested funds at break even price; for reinvestment use.  The dividends on these stocks will be in the mail to me on 29 February.

The ex-dividend date on Nam Lee is not known yet so, l am selling all the 11 lots now for a small profit and am hoping to buy into it again at lower price so that it is easier to achieve the exit selling price set.

The strength on STX OSV surprises me as l initially thought that it would Not be able to reach the exit selling price target based on the proposed dividend payout rate which l have worked it out.  This is the risk premium reward for braver investors but for a normal retail investor like myself, it's okay not to pursue it further into uncharted territory. 

Portfolio walk since previous posting :-

$1,198 Total Returns as of 10 Feb 

$175 Gain on sales of Starhill Reit, Mapletree Industrial, STX OSV, Nam Lee, First Reit

-$225 Unrealised positions worsened

$1,147 Total Returns as of 17 Feb

previous posting:- Cash - Closing Status 10 Feb