portfolio update - may 2017

Dividend by month

1) singtel
2) fcot sgx capitacom lian beng starhillg fct sphreit cmt
3) spost  taisin lippo
4) roxy
5) fcot steng sgx  uob sph starhillg fct sphreit cmt cdg hcg lippo
6) tcil ocbc lkh
7) singpost
8) fcot singtel  plife  ocbc  capitacom starhillg sci steng fct singpost sphreit cmt lippo
9)  uob tcil cdg
10) sgx lian beng
11) fcot taisin sgx spost  starhillg fct cmt lippo
12) sph sats ksh


Remarks:


my comments:

Singtel. steady blue chip counter which gives dividend  in jan and august. august dividend maintained at 10.7c.

Comfortdelgro. a transport giant. distinct pattern of raising dividend. like singtel, cdg has also gone global. vesting in this would mean having interest in its transport business in different parts of the world. investing in this means indirectly investing in vicom and sbs. Not sure why the market is selling this counter down. if the earnings and dividends can be maintained, this sell down is uncalled for.

Singpost. we can see changes in top management taking place. its one proxy to invest in ecommerce and elogistics. just got to be patient on this one. it cannot go bust right?


Taisin.holding on to a small number of shares. most of it divested as it appears overvalued to me at this sort of price.


Roxy. barring unforeseen circumstances, it should be a winner in excess of 5 years. take a walk around marine parade area and one can see that the upcoming mrt is just literally in front of its hotel and roxy square assets.


lian beng. deeply undervalued. of course we wont expect it to trade at nav, but its discount to its nav and its low pe appears attractive. lots of hard asset backing and recurring income. its contract works will keep it busy and provide income till 2021. Another big venture announced lately in a hougang en bloc project.


low keng huat, another deeply undervalued counters. revamp of paya lebar area will give it a boost. slow and steady counter. won perumal site bid, this is in close proximity of farrer park mrt. it probably will hold the ground floor units for recurring income, as in the case of plsq.
Another steady ship. 4c dividend declared. nav up to 90c, cash plus deposits equals 1/4bil, so much of the company is actually cash.


tcil, each passing year represents an increasingly wide pb gap. lots of hard asset backing but no clue when would it be unlocked. more than 10 acres of freehold land in  singapore in its books. hk3.5b worth of japan equities. amongst its assets. dividend hk0.07 declared on eps 9c. more tan chong added from my dividends at around 2.40hkd, which is deemed very cheap. to buy a cheap stuff and still enjoy dividend cannot be a bad thing.


sph. fighting digital disruption. downside will be limited by its real estate and cash.


hotel grand central, which imo is a discount to its hard assets. if you trace it to its beginnings, you would have seen it growth in the number of hotels over the years. shareholder friendly is definitely a plus, as can be seen as a willingness to increase dividends when earnings permit. compare and contrast this with hotel royal. will get scrip.


banks. ocbc and uob, provide steady may and august/sept dividend. ocbc's 'hidden' 1b assets provides much comfort in holding it, while uob family conservatively run style provides safety. both has discernible dividend rising trend. getting scrip for uob


sgx. singapore as SEA financial hub now and in the future holds a lot of promise to this counter. 4x a year payout is definitely pleasing. current and historical average yield is a tad low though.


ksh. to me its overvalued. market is pricing it too high. it has lots of jv and its gao bei dian project will take years to happen and years before earnings happen and hence years before increase in dividends take place.


sats. 4th 5th terminal coming up should keep this company with lots of people to feed and things to manage.


sph reit. stable dividend churner.


frasers reits, starhill and parkway life. business as usual.

St E. One of my long term holdings. steady big ship cruising along. Another blue chip which has gone across the globe to usa.

lippo malls. high yield because of its geographical risk i suppose but adding this reduces my own risk to my current portfolio.



Overall,

nothing fanciful and nothing new: dividends received will be used to reinvest in the same counters and/or the counters which are about to pay dividends soon.

No further input is necessary. Portfolio creates the income every month and gets reinvested. One reinvestment move means one more continuous stream of income in the future.

Market up or down doesn't matter too much, in fact is not a bad thing after all. Dividends provided new cash flow as compounding and dollar cost average tool.



DON'T FORGET TO ASK YOURSELF THESE QUESTIONS:


1) WILL THIS COMPANY GO BUST IN 10 YEARS?
2) WILL THIS COMPANY STOP DIVIDENDS?
3) WILL THIS COMPANY STOP INCREASING DIVIDENDS OVER TIME?

Are times really that bad these days?

recently i spoke to the man on the street, he said "gang kor", hang jeng si bei pai". In english, it means difficult and times are damn bad.

I ask him how come. He said everything going up. utility bills up, a cup of kopi at kopitiam also going up and seems like won't come down. his pay appears to be the only thing which stays. "how to survive?"

i think times are not good generally. the singapore economy is not doing well and the worst it are the normal man on the streets.

innovate upgrade...yeah sure..tell that to someone who has only secondary education earning 1.5kpm doing 2 different shift jobs with little time even to take a breather; and whatever income comes in, it rapidly goes out to pay handphone bills, utlity bills, transport, rental etc... how to innovate, upgrade..? u got to be kidding! As a result, most of them remain stuck, work like hell just to stay afloat.

but hey, on the other hand, you look around the streets in town, you see bentley, ferrari, benz bmw and lots of them there. these people do not seem too affected by the downturn.

I do hope the singapore economy will pick up and better times for more people in singapore.

Happy Vesak Day to all the people in Singapore!!!

portfolio update - april 2017

Dividend by month

1) singtel
2) fcot sgx capitacom lian beng starhillg fct sphreit cmt
3) spost  taisin
4) roxy
5) fcot steng sgx  uob sph starhillg fct sphreit cmt cdg hcg
6) tcil ocbc lkh
7) singpost
8) fcot singtel  plife  ocbc  capitacom starhillg sci steng fct singpost sphreit cmt
9)  uob tcil cdg
10) sgx lian beng
11) fcot taisin sgx spost  starhillg fct cmt
12) sph sats ksh


Remarks:


my comments:

counters which appear this month and say, 2 months ago are still the same counters. however, they might not be the same quantity.

Singtel. more added during the recent sell off, from profit taking in taisin and ksh.

Comfortdelgro. a transport giant. distinct pattern of raising dividend. like singtel, cdg has also gone global. vesting in this would mean having interest in its transport business in different parts of the world. investing in this means indirectly investing in vicom and sbs.

Singpost. in process of ecommerce/elogistic transformation. traditional mail expected to see gradual decline. contribution by singpost centre would come soon. give the counter some time. give the new ceo come time to transform this mail giant. needs to be patient with this counter. anyway, getting paid 4x a year while waiting is not a bad deal.

Taisin. profit taken. ard 45c. to me, this represents overvalue, from the yield and nav point of view.

Roxy. will go xd in april. slow and steady counter. deeply undervalued imo. barring unforeseen circumstances, it should be a winner in excess of 5 years. take a walk around marine parade area and one can see that the upcoming mrt is just literally in front of its hotel and roxy square assets. impressive 60m gain in 3 years from selling its australian asset. management appears very shrewd.


lian beng. deeply undervalued. of course we wont expect it to trade at nav, but its discount to its nav and its low pe appears attractive. lots of hard asset backing and recurring income. its contract works will keep it busy and provide income till 2021.


low keng huat, another deeply undervalued counters. revamp of paya lebar area will give it a boost. slow and steady counter. won perumal site bid, this is in close proximity of farrer park mrt. it probably will hold the ground floor units for recurring income, as in the case of plsq.
Another steady ship. 4c dividend declared. nav up to 90c, cash plus deposits equals 1/4bil, so much of the company is actually cash.


tcil, each passing year represents an increasingly wide pb gap. lots of hard asset backing but no clue when would it be unlocked. more than 10 acres of freehold land in  singapore in its books. hk3.5b worth of japan equities. amongst its assets. dividend hk0.07 declared on eps 9c.


sph. fighting digital disruption. selling its m1 stake will unlock lots of cash.


Hotel grand central. if you trace it to its beginnings, you would have seen it growth in the number of hotels over the years. shareholder friendly is definitely a plus, as can be seen as a willingness to increase dividends when earnings permit. compare and contrast this with hotel royal. will get scrip.


banks. ocbc and uob, provide steady may and august/sept dividend. ocbc's 'hidden' 1b assets provides much comfort in holding it, while uob family conservatively run style provides safety. both has discernible dividend rising trend. will get scrip for both.


sgx. singapore as SEA financial hub now and in the future holds a lot of promise to this counter. 4x a year payout is definitely pleasing. current and historical average yield is a tad low though. 5c dividend maintained.


ksh. imo overvalued from the dividend point of view.

sats. 4th 5th terminal coming up should keep this company with lots of people to feed and things to manage.


sph reit. steady properties in orchard road and clementi and low gearing.


frasers reits, starhill and parkway life. business as usual.

St E. One of my long term holdings. steady big ship cruising along. Another blue chip which has gone across the globe to usa. Lot of business deals recently.


9/5/2017
FORGOT to add: I added some lippo malls to divest away from singapore. to me lippo malls is something like frasers. yield is somewhat higher because of geographical risk but to me my risk is reduced because of its purchase.



Overall,

nothing fanciful and nothing new: dividends received will be used to reinvest in the same counters and/or the counters which are about to pay dividends soon.

No further input is necessary. Portfolio creates the income every month and gets reinvested. One reinvestment move means one more continuous stream of income in the future.

Market up or down doesn't matter too much, in fact is not a bad thing after all. Dividends provided new cash flow as compounding and dollar cost average tool.



DON'T FORGET TO ASK YOURSELF THESE QUESTIONS:


1) WILL THIS COMPANY GO BUST IN 10 YEARS?
2) WILL THIS COMPANY STOP DIVIDENDS?
3) WILL THIS COMPANY STOP INCREASING DIVIDENDS OVER TIME?

Is ksh overvalued at 70c?

out of own interest, i did additional research on ksh. normally, after the initial homework is done, i stay invested for long term.

looks like lots of buying is pushing ksh. its has gone beyond its nav of 67-68c.

however that was the nav of the last quarter, before the chinese new economic zone development was announced.

now that the news is out, land prices around that area has jump multiple fold, so much so that the authorities have to institute measures to curb speculation.

this report from nextinsight provides additional information.

https://www.nextinsight.com.sg/story-archive-mainmenu-60/939-2017/11425-ksh-holdings-our-initial-estimate-of-upside-from-gaobeidian-project

so the contribution from this project might potentially be $0.24-0.47, and the nav might potentially be bumped up to at least $0.90. I think the market thinks its not overvalued  at 70c. So it seems that $0.70 appears to be still undervalued by the buyers who might share the above view that each share is potentially worth much more.

for me, i am vested at a low price, so be it 0.55 or 0.70, its perfectly fine with me, so long as the dividends keep coming.

thanks sanye for your views.


Disclaimer:

I am no analyst nor accountant trained. The above blog is only for my own informative purpose. If you find it useful, please use it at your own discretion.

7/4/2017:

another day of ksh rising up...hit nearly 80c

yes, it is possible there are other reasons that people like ourselves are unaware of.
based on its rnav, it could still be undervalued at 75c.
however, i don't believe that the dividends could be raised to the same proportion as the rise in share price. for the plan to work out and translate to earnings and hence dividends, it will take years to happen.
being a dividend investor, my ksh yield is being suppressed to 4.5% based on last years dividend. even if this years dividend would be raised, most likely at this price, yield would still be below 5%. thus as much as i would like to hold the stock for long long, fundamentals based on dividends tell me otherwise. i divested part of it above 75c.

ksh lian beng incredible single day gain

incredible run up by ksh & lian beng, gaining 16% and 12% in a single day, respectively at the time of writing.

looks good and yes, it does feel good to have 2 counters in my portfolio gaining so much.

however i remain vested.

lian beng
- still remains deeply undervalued, book value is slightly more than $1, thus a gain of 12%, still makes it very undervalued.
- this counter has a pattern of increasing dividend. so its just a matter of price playing catching up with the book value and dividend. whether big boys are playing with it or not, doesnt matter. fundamentals will catch up with itself over time.

ksh
- still undervalued, albeit not as much as lian beng.
-another counter which has tendency to raise dividends blah blah... similar argument to above(just lazy to retype the above)

both with contribute
2, 8,10,12 months with dividends.

focus on cash flow (ie dividends) and portfolio will catch up with it.

cheers!


NB;

I called my broker earlier today and asked him whether he knew the reason for the jump. He told me some BB playing it.

Now, I realised that's not true. It because of ksh and lian beng stake in gaobeidian hebei which is in close proximity to the new economic zone announced by the chinese leader. And recent news reports states that tonnes of speculators are in that chinese state looking for properties to invest.

This is one day we can get vested in the benefits of the new economic zone without leaving our shores.

portfolio update - march 2017

Dividend by month

1) singtel
2) fcot sgx capitacom lian beng starhillg fct sphreit cmt
3) spost  taisin
4) roxy
5) fcot steng sgx  uob sph starhillg fct sphreit cmt cdg hcg
6) tcil ocbc lkh
7) singpost
8) fcot singtel  plife  ocbc  capitacom starhillg sci steng fct singpost sphreit cmt
9)  uob tcil cdg
10) sgx lian beng
11) fcot taisin sgx spost  starhillg fct cmt
12) sph sats ksh


Remarks:


my comments:

Singtel. steady blue chip counter which gives dividend  in jan and august. cannot go too wrong buying this counter and holding it for long. soon it should raise dividend again.

Comfortdelgro. a transport giant. distinct pattern of raising dividend. like singtel, cdg has also gone global. vesting in this would mean having interest in its transport business in different parts of the world. investing in this means indirectly investing in vicom and sbs.

Singpost. in process of ecommerce/elogistic transformation. traditional mail expected to see gradual decline. contribution by singpost centre would come soon. give the counter some time. give the new ceo come time to transform this mail giant. needs to be patient with this counter. anyway, getting paid 4x a year while waiting is not a bad deal.


Taisin. some media talking up this counter, ahead of what its fundamentals can support. be careful when others are greedy. Would expect the upcoming nav to inch to about 40c.


Roxy. will go xd in april. slow and steady counter. deeply undervalued imo. barring unforeseen circumstances, it should be a winner in excess of 5 years. take a walk around marine parade area and one can see that the upcoming mrt is just literally in front of its hotel and roxy square assets. wonderful!


lian beng. deeply undervalued. of course we wont expect it to trade at nav, but its discount to its nav and its low pe appears attractive. lots of hard asset backing and recurring income. its contract works will keep it busy and provide income till 2021. i wouldnt be surprised if it increases its dividend this october.


low keng huat, another deeply undervalued counters. revamp of paya lebar area will give it a boost. slow and steady counter. won perumal site bid, this is in close proximity of farrer park mrt. it probably will hold the ground floor units for recurring income, as in the case of plsq.
Another steady ship. 4c dividend declared. nav up to 90c, cash plus deposits equals 1/4bil, so much of the company is actually cash.


tcil, each passing year represents an increasingly wide pb gap. lots of hard asset backing but no clue when would it be unlocked. more than 10 acres of freehold land in  singapore in its books. hk3.5b worth of japan equities. amongst its assets. dividend hk0.07 declared on eps 9c.


sph. fighting digital disruption. selling its m1 stake will unlock lots of cash.


added hotel grand central, which imo is a discount to its hard assets. if you trace it to its beginnings, you would have seen it growth in the number of hotels over the years. shareholder friendly is definitely a plus, as can be seen as a willingness to increase dividends when earnings permit. compare and contrast this with hotel royal. will get scrip.


banks. ocbc and uob, provide steady may and august/sept dividend. ocbc's 'hidden' 1b assets provides much comfort in holding it, while uob family conservatively run style provides safety. both has discernible dividend rising trend. will get scrip for both.


sgx. singapore as SEA financial hub now and in the future holds a lot of promise to this counter. 4x a year payout is definitely pleasing. current and historical average yield is a tad low though. lets see whether it will increase payout this year or next


ksh. recent nus works will keep it busy. seems like nus prefers it work with it. lots of buildings in nus are aging. possibly of more projects coming.


sats. 4th 5th terminal coming up should keep this company with lots of people to feed and things to manage.


sph reit. one month passed since i last updated, means one month closer to seletar mall injection. counter shows a slight uptrend. ?good news


frasers reits, starhill and parkway life. business as usual.

St E. One of my long term holdings. steady big ship cruising along. Another blue chip which has gone across the globe to usa.

april and may will be busy months, as lots of companies are paying their dividends in these months as well as lots of them organising their agm. will see if i can attend squeeze my time to attend any.




Overall,

nothing fanciful and nothing new: dividends received will be used to reinvest in the same counters and/or the counters which are about to pay dividends soon.

No further input is necessary. Portfolio creates the income every month and gets reinvested. One reinvestment move means one more continuous stream of income in the future.

Market up or down doesn't matter too much, in fact is not a bad thing after all. Dividends provided new cash flow as compounding and dollar cost average tool.



DON'T FORGET TO ASK YOURSELF THESE QUESTIONS:


1) WILL THIS COMPANY GO BUST IN 10 YEARS?
2) WILL THIS COMPANY STOP DIVIDENDS?
3) WILL THIS COMPANY STOP INCREASING DIVIDENDS OVER TIME?

February 2017 update

Dividend by month

1) singtel
2) fcot sgx capitacom lian beng starhillg fct sphreit cmt
3) spost  taisin
4) roxy
5) fcot steng sgx  uob sph starhillg fct sphreit cmt cdg
6) tcil ocbc lkh
7) singpost
8) fcot singtel  plife  ocbc  capitacom starhillg sci steng fct singpost sphreit cmt
9)  uob tcil cdg
10) sgx lian beng ngi
11) fcot taisin sgx spost  starhillg fct cmt
12) sph sats ksh


Remarks:



portfolio auto-building in progress :

my comments:

Bought comfortdelgro. trading at 240plus CD is quite an ok price for me.

Lum Chang exited. Dividend cut from $0.0075 to $0.003 is unacceptable to me for a small cap 100m+ company. already seeing a "maintenance"of 2c per year for some many years is becoming an eye sore. why doesn't the dividend gets increased? is the company not making more money over time? share price going up despite XD is because of own buying. Its something like Starhub 5x4c per year for so many years, being unable to increase dividends in this case is simply because they are not earning more and more over time. Whatever the case, its not a good thing.

Singpost is a bit different sort of creature. It a blue chip which has existed for well over a century. It has made a lot of investments, but hard and soft types. Making one bad one out of so many investments is sometimes inevitable, and as a result of it, suffers a dividend cut. The new CEO has work to do anyway. Should this be a small cap, this would mean exit. However there are clear positives in this case, eg singpost centre revenue, improvement of ecommerce and elogistics aspect. personally, I would hold on. Still bullish on this counter in mid to long term.

*forgot to write this earlier :
Metro exited above 110. upside limited. imo special dividends unlikely. its because of the special dividends expectation that drove price up. normal dividends of 4-6c would still be expected.

No surpises to tai sin, just that media has increased its coverage on this counter and hence its bullish run up. Won't unload my stake. Singpost and taisin add to my march dividends.
As can be seen, even after XD, price did not come down, suggesting market already pricing in future gains.


Similarly, roxy results came in as expected as well as dividends...maybe a little bit disappointed cos its a bit less than last year...but we all know ppty sector not doing so well. personally, am bullish on this counter in the mid-long range of at least 5 years. the thomson east coast line will be up in 2023 and roxy mercury hotel is right smack beside it. and the management focus mainly on non leasehold properties, adding to the attractiveness of this counter. barring unforeseen circumstances, this counter should be a winner in time to come.

lian beng. deeply undervalued. of course we wont expect it to trade at nav, but its discount to its nav and its low pe appears attractive. its contract works will keep it busy and provide income till 2021. i wouldnt be surprised if it increases its dividend this october. I think this counter will be a winner in time to come.

low keng huat, another deeply undervalued counters. revamp of paya lebar area will give it a boost. slow and steady counter

tcil, each passing year represents an increasingly wide pb gap. lots of hard asset backing but no clue when would it be unlocked.

noel gifts. i am rather pessimistic about this counter. balmoral ppty stake has been unlocked earlier. government large gift purchase failed to create catalysts to encourage more business. recent announcement informed that company might even make a loss this calender year. should this be true, dividend cut might happen ie 1.5c to 1c or even skipped! moreoever its only a small cap of around 25m. all this are red flags for me.

sph ; price seems stable ard 345-350 plus minus, with digital transformation taking place

Overall,

nothing fanciful and nothing new: dividends received will be used to reinvest in the same counters as well as the counters which are about to pay dividends soon.

No further input is necessary. Portfolio creates the income every month and gets reinvested. One reinvestment move means one more continuous stream of income in the future.

Market up or down doesn't matter too much, in fact is not a bad thing after all. Dividends provided new cash flow as compounding and dollar cost average tool.


DON'T FORGET TO ASK YOURSELF THESE QUESTIONS:


1) WILL THIS COMPANY GO BUST IN 10 YEARS?
2) WILL THIS COMPANY STOP DIVIDENDS?
3) WILL THIS COMPANY STOP INCREASING DIVIDENDS OVER TIME?