| No. |
STOCK NAME |
No.of SHARES |
PORTFOLIO% |
MARKET $ |
|
1
| SGX |
4,000
|
14.61
|
7.53
|
|
2
| Starhub |
6,700
|
10.76
|
3.31
|
|
3
| SPH |
5,000
|
9.85
|
4.06
|
|
4
| SATS |
3,000
|
5.97
|
4.10
|
|
5
| AIMS AMPI Reit |
6,800
|
4.60
|
1.395
|
|
6
| UOB |
500
|
4.51
|
18.60
|
|
7
| OCBC Bank |
1,015
|
4.32
|
8.77
|
|
|
8
| SingTel |
2,190
|
4.10
|
3.86
|
|
|
9
| CapitaMall Trust |
4,000
|
4.02
|
2.07
|
|
|
10
| Suntec Reit |
4,900
|
4.01
|
1.685
|
|
|
11
| Keppel Corp |
1,400
|
3.67
|
5.40
|
|
|
12
| FCT |
3,800
|
3.59
|
1.95
|
|
|
13
| Starhill Global |
8,000
|
3.03
|
0.78
|
|
|
14
| CapitaLand |
2,000
|
3.02
|
3.11
|
|
|
15
| SPH Reit |
5,800
|
2.69
|
0.955
|
|
|
16
| Sembcorp Ind |
1,800
|
2.52
|
2.89
|
|
|
17
| ParkwayLife Reit |
1,800
|
2.14
|
2.45
|
|
|
18
| CDL HTrust |
3,000
|
2.03
|
1.395
|
|
|
19
| Keppel DC Reit |
3,600
|
1.91
|
1.095
|
|
|
20
| SIA Engg |
1,000
|
1.84
|
3.79
|
|
|
21
| FCOT |
2,800
|
1.76
|
1.295
|
|
|
22
| Keppel InfraTr |
6,000
|
1.43
|
0.49
|
|
|
23
| ST Engg |
800
|
1.25
|
3.22
|
|
|
24
| FE HTrust |
2,800
|
0.90
|
0.665
|
|
|
25
| Cache Log Tr |
1,800
|
0.76
|
0.865
|
|
|
26
| MapletreeCom |
900
|
0.65
|
1.50
|
|
|
27
| Saizen Reit |
1,800
|
0.08
|
0.09
|
|
Movement in my portfolio in April:-
Sold:- HPH Trust (23.7% loss).
Bought:- FE HTrust, FCOT, AIMS AMPI Reit, Keppel Corp.
Dividends collected in April: $0
2016 avg dividends/month: $894.56 [181.9% up at this stage cf. 2015]
Boring process of building up my passive income portfolio brick-by-brick (bit-by-bit).
Comments:
1. Big fat "0" dividend in April. Well, a good rest in April for the dividend harvesting in May. Set to be a record dividend fruits harvest for me next month, as 17 of my 27 holdings are paying dividends in May.
2. Finally lost patient and abandoned the leaking submarine HPH Trust.
3. Current worst performing counter: Keppel Corp (26% unrealised loss). Probably will need to hold long term for this...
4. Made a small donation to a charity organization.
After the small bet and profit on Saizen Reit, I was very tempted to have another go for Ascendas Htrust, even utilising portion of the warchest.
As there were rumours of four to five potential buyers, it did look high chance that the acquisition deal would be successful.
However, after some consideration, I decided it is no-go for Ascendas Htrust.
1. There was absolutely no margin of safety on the price for Ascendas Htrust. When I bought Saizen Reit, it was more than 20 cents away from its NAV and gave approximately 20% margin of safety. But Ascendas Htrust was already trading above its NAV of 70 cents (more on its NAV later) and hence no margin of safety for me.
2. I am also skeptical of the sudden re-valuation of Ascendas Htrust's NAV to 84 cents after news of the possible sales. There is no addition to Ascendas Htrust's portfolio and the market conditions also deteriorated rather than improved for the past year. To me, this is like when I pay for an item at a store, but the store owner tells me that I have to pay more that what is displayed on the price tag, without giving me valid reason. I think potential buyers would also be evaluating their purchase based on 70 cents, rather than 84 cents.
3. Saizen Reit is unique and one-of-a-kind Reit, but there are other hospitality reits around. Moreover, apart from Ascendas Htrust, all other hospitality reits are trading below their NAVs.
As such, I think there is no upside but plenty of downside if buying into Ascendas Htrust for the acquisition bet.
The takeaway from this is that one success does not lead to another success, even in more or less similar circumstances.
Really need DYODD.
| No. |
STOCK NAME |
No.of SHARES |
PORTFOLIO% |
MARKET $ |
|
1
| SGX |
4,000
|
15.49
|
7.95
|
|
2
| Starhub |
6,700
|
10.93
|
3.35
|
|
3
| SPH |
5,000
|
9.74
|
4.00
|
|
4
| SATS |
3,000
|
5.77
|
3.95
|
|
5
| UOB |
500
|
4.60
|
18.87
|
|
6
| OCBC Bank |
1,015
|
4.37
|
8.84
|
|
7
| SingTel |
2,190
|
4.08
|
3.82
|
|
|
8
| CapitaMall Trust |
4,000
|
4.07
|
2.09
|
|
|
9
| Suntec Reit |
4,900
|
4.00
|
1.675
|
|
|
10
| AIMS AMPI Reit |
5,900
|
3.84
|
1.335
|
|
|
11
| FCT |
3,800
|
3.70
|
2.00
|
|
|
12
| Keppel Corp |
1,200
|
3.41
|
5.83
|
|
|
13
| Starhill Global |
8,000
|
3.04
|
0.78
|
|
|
14
| CapitaLand |
2,000
|
2.99
|
3.07
|
|
|
15
| SPH Reit |
5,800
|
2.73
|
0.965
|
|
|
16
| Sembcorp Ind |
1,800
|
2.65
|
3.02
|
|
|
17
| ParkwayLife Reit |
1,800
|
2.10
|
2.39
|
|
|
18
| CDL HTrust |
3,000
|
1.92
|
1.315
|
|
|
19
| Keppel DC Reit |
3,600
|
1.86
|
1.06
|
|
|
20
| SIA Engg |
1,000
|
1.75
|
3.60
|
|
|
21
| Keppel InfraTr |
6,000
|
1.45
|
0.495
|
|
|
22
| ST Engg |
800
|
1.26
|
3.23
|
|
|
23
| FCOT |
1,900
|
1.20
|
1.30
|
|
|
24
| HPH Trust |
3,000
|
1.04
|
0.50
|
|
|
25
| Cache Log Tr |
1,800
|
0.74
|
0.845
|
|
|
26
| MapletreeCom |
900
|
0.62
|
1.41
|
|
|
27
| FE HTrust |
1,900
|
0.58
|
0.63
|
|
|
28
| Saizen Reit |
1,800
|
0.08
|
0.09
|
|
Movement in my portfolio in March:-
Sold:- Boustead (2.1% loss).
Bought:- Cache Log Tr, FCT, UOB, Keppel Corp.
Dividends collected in March: $2,260.06
2016 avg dividends/month: $1,192.74 [181.9% up at this stage cf. 2015]
Boring process of building up my passive income portfolio brick-by-brick (bit-by-bit).
Comments:
1. Special dividend payout from Saizen Reit gave a great turbocharge to March's dividends. With Saizen Reit's special dividend, March gained a one-time admission to the 2K Club (current members: May and August). Well, once a while, need some good spice up along our investment journey.
2. Not bad for more than 15% gain for Saizen Reit since its purchase in Oct 2015. What about Ascendas HTrust now? Hmm...
3. Current worst performing counter: Keppel Corp (23.4% unrealised loss)
4. Next is the very dry month of April...
