Sunday, July 10, 2016

"Jul 16" - SG Transactions & Portfolio Update"‏

No.
 Counters
No. of Shares
Market Price (SGD)
Total Value (SGD) based on market price
Allocation %
1.
Kingsmen
80,000
0.63
50,400.00
12.0%
2.
IReit Global
62,000
0.74
45,880.00
11.0%
3.
ST Engineering
13,000
3.18
41,340.00
10.0%
4.
UOL
6,000
5.57
33,420.00
8.0%
5.
CapitaCommercial Trust
15,000
1.51
22,650.00
5.0%
6.
HK Land*
1,500
8.36*
12,535.00
3.0%
7.
Ascott Reit
10,000
1.12
11,200.00
3.0%
8.
First Reit
8,000
1.27
10,160.00
2.0%
9.
OCBC
1,134
8.74
  9,911.00
2.0%
10.
Advancer Global Limited
8,000
0.22
  1,760.00
1.0%
11.
Warchest*
194,000.00
45.0%
Total SGD
433,256.00
100.00%

I will be providing an early update this month as I will be away on a week trip the week after next to Krabi and Bkk for several days. Next week is also quarterly reporting period so there will be some which I would like to cover hopefully.

There are a flurry of activities which I have made since the last monthly update.




The first is on the full divestment of FCT which I have blogged here in more detail. The main reason for the divestment is more towards the reason siding on the valuation than fundamental. At current price, I think there's a lot of hope for growth on their rental reversion which can be tricky with tenant sales getting lesser sluggish growth and the economy getting uncertain. I also brought up the point where I think the Reits will feel performance pressure these few quarters ahead when Northpoint will be undergoing AEI. I just feel that when it happens, there will be knee jerk reaction in the market which will point to a lower valuation. I can be terribly wrong on this of course and they continue their upward surge.

I have also made full divestment to Ho bee Land which I have also blogged here. For this, the divestment is siding towards more onto fundamental reason that the company will have to re-strategize following the Brexit event which will have some unintended consequence on how the company will be directing its strategy onward. The foreign exchange loss and pressure on its UK properties will be a tough one to swallow on their financial reporting which I think will be a pressure to their share price. I do think however with the stewardship of Mr. Chua they will ensure that the company turn this into an opportunity, but things could get tricky. Again, I could be very wrong on this and end up a lot poorer.

I have also made a divestment to Keppel DC Reit recently as I will be unwinding a few of my Reits which I think has reached fair valuation. 

On the GO offer for CMPH, I have also finally received the full funds so it is time to move on.

On the long front, I have recently bid for the Advancer Global IPO and was successfully allocated a small minor shares which I have added to the portfolio.




The portfolio has increased from the previous month of $426,343 to $433,256 this month (+1.6% month on month; +39.6% year on year). The Brexit event has been a rather surprising event in a way that most investors have benefited from it somehow.

The XIRR YTD return has edged ahead from last month to 13.6% this month due to the surprise performance following the Brexit event. The benchmark for STI has returned -1.9% this year to date. 

In terms of dividends, it will be a rather dry run this month as the companies are only starting to report their interim reporting which means dividends would come in again mostly in Aug/Sep.

The cash portion is something which has now increased significantly from 7% last month to 45% this month. I'll continue to find opportunities in the midst of these market uncertainties. But overall, I think it's a very good allocation percentage to take advantage of the market should something happens.

I hope the July month has done well for everyone.

How has Jul been for you so far?


18 comments:

  1. Wow, Kingsmen is now the biggest share in your portfolio. Let's hope it rise to expectations soon!

    ReplyDelete
    Replies
    1. Hi SR

      I doubt kingsmen will be able to rebound in the short term. I'd be more than happy if they can give out 3 cents dividends this year. But it wont be until 2018 probably until we've seen any potential rebound.

      Delete
  2. Replies
    1. Hi Cory

      Think you are around that as well right.

      Delete
  3. all that cash could be a drag for a while.

    ReplyDelete
    Replies
    1. Hi SMK

      At this point, I'd rather keep it safe than lose them. After all, I think I've done not bad with an equity return of over 13% so far, even if i remained fully in cash term the rest of the year.

      Delete
    2. yes very nice returns :)
      done very well.

      Delete
    3. i can't help it:
      no intentions to reallocate to other asset classes or geos?
      why not?

      Delete
    4. Hi SMK

      So far, i do not have any plans yet to reallocate into other asset classes but may consider switching into equities that are still undervalued. It's getting more difficult to find them as the market rises but usually I do find them pretty quickly. So i dont expect to hold a large amount of cash for an extended period of time :)

      Delete
  4. Updated:

    Sold Advancer at 44 cents after an unexpected debut. Valuation looks massive now and unless growth can substantiate, it probably wont be sustainable at this valuation.

    ReplyDelete
  5. 45% cash seems a lot, what if the STI crosses 3000 and continues going higher?

    ReplyDelete
    Replies
    1. I guess that's a happy problem. My 55% invested will get even larger :)

      Totally first world problem to me.

      Delete
    2. in that case wouldnt your portfolio underperform the sti etf?

      Delete
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