Wednesday, May 8, 2013

"May 13" - SG Transactions & Portfolio Update"



 Counters
No. of Lots
Average Price (SGD)
Total Value (SGD) based on average price
Market Price (SGD)
Total Value (SGD) based on market price
Total Dividends collected (SGD) since purchase
FraserCenter Point Trust
11
1.69
18,590.00
2.26
24,860.00
1,509.00
SPH
5
4.15
20,730.00
4.38
21,900.00
350.00
Boustead
13
1.15
15,020.00
1.40
18,200.00
140.00
SIA Engineering
3
4.12
12,360.00
5.29
15,870.00
210.00
First Reit
10
0.89
8,900.00
1.415
14,150.00
693.00
Ascott Reit
9
1.305
11,745.00
1.425
12,825.00
386.00
Neratel
20
0.46
9,200.00
0.625
12,500.00
1,200.00
SembCorp Ind
2
5.44
10,880.00
4.98
9,960.00
300.00
PLife Reit
3
1.85
5,550.00
2.76
8,280.00
556.00
Ascendas Hosp. Trust
7
0.89
6,250.00
0.995
6,965.00
319.00
Second Chance
17
0.43
7,210.00
0.42
7,140.00
456.00
CWT
4
1.43
5,730.00
1.765
7,060.00
120.00
STX OSV (Vard)
6
1.245
7,470.00
1.05
6,300.00
0.00
YZJ
6
0.95
5,680.00
0.90
5,400.00
300.00
ST Engineering
1
2.82
2,820.00
4.37
4,370.00
1,378.00
QAF
3
0.71
2,135.00
0.945
2,835.00
140.00
Noble
2
1.12
2,240.00
1.165
2,330.00
0.00
Total SGD
 
 
152,510.00
 
180,945.00
8,057.00

This month, I sold off my only telecom share, Singtel which I had at a very nice price of S$3.93. The share price has moved up nicely in tandem with the other telecom shares of Starhub and M1 which gave me the opportunity to sell it off at a good profit. I thought the way the price has moved up is overboard given its overseas earnings (especially Optus and Bharti) still a drag on Singtel overall performance.
 
I also took some profits off FCT after it went x-dividend and this is not the first time I'm doing this given its stellar performance year to date. FCT still remains my number one top holdings even after the sell.
 
My big purchase for the month is the accumulation of Boustead. With the purchase, I now own 13 lots of Boustead at an average price of S$1.15, which to me still boasts a margin of safety in my opinion. FY2013 performance so far has been phenomenal for Boustead. EPS for the 9 month period FY2013 alone has almost equaled EPS for the full year FY2012. With such a stellar performance this financial year, I am almost certain that Boustead will announce a dividend of at least 7 cents/share (5 cents to be announced shortly in its May results and another 2 cents in November). At its latest closing price of S$1.40, this translates to exactly 5% yield.
 
What I like about Boustead also is that it has a policy of buying back its shares, which is why you see the number of outstanding shares have been gradually lower every year. After all, we are talking about a company which boasts a huge pile of cash in its balance sheet.
 
Boustead has also recently divested its entire holdings in OM Holdings Limited, an integrated manganese mining company listed on the Aussie Exchange. The divestment is good for the company because this was a wall of worry amongst investors and Mr. Wong himself. In the recent interview, he even admitted that he can at times make a mistake. Having said that, Boustead recorded a divestment gain of S$5 Million which is huge and based on FRS reporting the gain should be recognised as "Other Operating Income" in FY 2014.
 
This has been a fantastic month in terms of dividend income for me. My portfolio is my way to freedom and I can see how the generation of cashflow through these dividend income streams have helped me in paying my expenses. Although these portfolio updates every month show the increase in the underlying value of the equities I am invested in, it is the rising income stream which is more important to me. With that said, my lovely dividend income stream this month includes:
 
FCT = S$324
SPH = S$350
First Reit = S$174
Neratel = S$800
Sembcorp = S$300
AHT = S$256
CWT = S$120
YZJ = S$300
ST Eng = S$138
QAF = S$120
Noble = S$40

Total = S$2,922

With many people advocating "Sell in May and go away", it is important to stay focus and ignore the noise. Instead of diverting your attention on such uncertainty, why don't you focus your attention more on the companies you are interested in?

Have a good week everyone :D

6 comments:

  1. Congrats B!

    Yes, it's better to keep our eyes on what matters than listening to the noise.

    I like your trimming of FCT and Singtel ;)

    ReplyDelete
    Replies
    1. Hi SMOL

      Thanks for stopping by.

      If I remember correctly I have read somewhere in your blog that you advocate once to ignore the noise of outside environment too. Hehehe :D

      Delete
  2. would like to get some opinions on Guthrie GTS...
    is it worth looking at its current price?

    ReplyDelete
    Replies
    1. Hi Anonymous

      Guthrie is a good company.

      If you look at its recent full year results for FY2012, it pales in comparison with FY2011. But that's because of a special one time divestment Guthrie did in 2011, which is why EPS for that year is exceptionally high. FY2012 EPS looks the more reasonable.

      Guthrie's property division has always been healthy, so there's not much to worry there. The main worry comes from its leisure division, with concerns over some of the hotel in Jakarta (Pullman Jakarta) due to refurbishment. But myself coming from Jakarta, I can tell you that there's nothing to worry much. Revenue from the leisure division is almost bound to do better next year.

      Guthrie dividend is not that bad at all. NAV is at 97 cents. But that's the thing about developer. NAV is always higher than the market price and it will take a lot of patience for it to unlock its value.

      Delete
  3. Impressive portfolio but somehow I think you invested in too many stocks. Diversification is not asset allocation. You might want to park some monies in precious metals. Just my thoughts. Overall, I think your portfolio is superb! Look forward to more updates from you. Especially your dividend streams.

    Regards,
    http://www.sgwebreviews.blogspot.com

    ReplyDelete
    Replies
    1. Hi GS

      I'm with you on this. I think my ideal allocation on stocks would be 15 individual companies or less and anything extra would be deemed as unnecessary diversification.

      I'm thinking on buying gold as a hedge but would not put too much focus on that. I am inclining towards more cash flow rather than anything so a big allocation on precious metals would not sufficiently give me that.

      Delete

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