2016 was a not a good year for investment. Hopefully 2017 is a better year.
My projected dividends for 2017 (based on current portfolio):
1. Starhub: $1,400?
2. SGX: $1,120
3. SPH: $1,080
4. AIMSAMPI Reit: $870
5. CMT: $645
6. Suntec Reit: $589
7. FCT: $552
8. OCBC: $517
9. SATS: $480
10. Keppel Corp: $480?
11. Starhill Global: $460
12. PLife Reit: $447
13. Keppel DC Reit: $430
14. UOB: $429
15. SPH Reit: $418
16. MCT: $392
17. SingTel: $383
18. CDL HTrust: $382
19. FCOT: $363
20. Keppel Infra Tr: $223
21. F L&I Tr: $198?
22. Cache Log Tr: $190
23. CapitaLand: $180
24. Sembcorp Ind: $180?
25. FCL: $154
26. FEHT: $122
27. SIA Engg: $120
28. ST Engg: $120
29. Accordia Golf Tr: $60
30. Saizen Reit (Sime Darby Reit?): ?
Total: ~$12,984
Avg/month: $1,082
Probably small increase to 2016 minus the special dividend contribution from Saizen Reit. Though, from
the modest $3k+ dividends in 2012 to the $12k+ in 2016, this
shows that this strategy is working for me.
The wish for the new year: Wishing everyone 明天会更好!
Friday, 30 December 2016
Tuesday, 27 December 2016
2016 Portfolio Review (Part 2): Foundation Stocks
2016
is another challenging year for investment. Many "marketquakes" starting with China market's failed circuit breaker implementation, the ever present oil price worry, the continuing terrorist threat, the surprising Brexit and Donald Trump victory, the rate hike in December and perhaps further hikes in 2017. Sometimes when you think you are moving a step forward, but actually you are forced taking two steps backward due
to strong headwinds.
My portfolio crossed two milestones in 2016. First, the 200K point was surpassed. Then, the special dividend from Saizen Reit gave a great turbocharge to my 2016 dividends and the 12K mark was exceeded for the first time in my investment journey.
My portfolio was set up using SGX, Starhub and SPH as foundation stocks, and Reits and other dividend stocks are supporting casts. SPH, Starhub and the Reits were all battered hard this year. Although the foundation stock trees grow deep roots over the years, it is time to review the continued relevance of them as foundation stocks.
1. SGX
Trading activities and volumes continue to languish despite reduction of lot size from 1,000 to 100 shares. Still waiting for an IPO blockbuster...
Chance of SGX failing as a company is minimal. My SGX tree already has very deep roots and I like the quarterly dividend payouts (like a REIT). I will add more SGX if it comes low enough.
2. Starhub
The company is facing stiff direct streaming competition on cable TV, mobile phone operations and uncertainties in market dilution after the 4th telco starts operation.
Starhub has long history in consistent dividend payments, but it remains uncertain whether dividend would be cut in 2017. However, the Starhub dividend is juicy, even factoring in a 10-20% cut. But I will not add onto my current position.
3. SPH
The continuing decline in SPH's core business earnings and its dividend payout is a concern. Though I do not think the old stalwart is about to die yet, I will not add onto my current position.
My foundation stocks have served their purpose in the build up of my portfolio, but I think it is time for change. So, I decided to revamp my holdings as such:
1. Keep SGX as my foundation stock.
2. Group Starhub, SPH, banks, KC/SCI, the two Enggs into in a STI-component group.
3. REIT group on selective reit counters.
4. Small portion for non-STI and non-REIT counters.
Let's see how it work out in 2017.
My portfolio crossed two milestones in 2016. First, the 200K point was surpassed. Then, the special dividend from Saizen Reit gave a great turbocharge to my 2016 dividends and the 12K mark was exceeded for the first time in my investment journey.
My portfolio was set up using SGX, Starhub and SPH as foundation stocks, and Reits and other dividend stocks are supporting casts. SPH, Starhub and the Reits were all battered hard this year. Although the foundation stock trees grow deep roots over the years, it is time to review the continued relevance of them as foundation stocks.
1. SGX
Trading activities and volumes continue to languish despite reduction of lot size from 1,000 to 100 shares. Still waiting for an IPO blockbuster...
Chance of SGX failing as a company is minimal. My SGX tree already has very deep roots and I like the quarterly dividend payouts (like a REIT). I will add more SGX if it comes low enough.
2. Starhub
The company is facing stiff direct streaming competition on cable TV, mobile phone operations and uncertainties in market dilution after the 4th telco starts operation.
Starhub has long history in consistent dividend payments, but it remains uncertain whether dividend would be cut in 2017. However, the Starhub dividend is juicy, even factoring in a 10-20% cut. But I will not add onto my current position.
3. SPH
The continuing decline in SPH's core business earnings and its dividend payout is a concern. Though I do not think the old stalwart is about to die yet, I will not add onto my current position.
My foundation stocks have served their purpose in the build up of my portfolio, but I think it is time for change. So, I decided to revamp my holdings as such:
1. Keep SGX as my foundation stock.
2. Group Starhub, SPH, banks, KC/SCI, the two Enggs into in a STI-component group.
3. REIT group on selective reit counters.
4. Small portion for non-STI and non-REIT counters.
Let's see how it work out in 2017.
Sunday, 25 December 2016
Planting more REIT trees for dividend fruits (II)
REITs counters are battered again in December after the news of the rate hike.
I have taken the opportunity to load more REITs into my portfolio. I have added FCT, FCOT, ParkwayLife Reit, MCT and SPH Reit. Looking to add A Reit and CCT too, if they could come down lower for me. Spoilt for choice as many REIT counters are looking real juicy.
I do not know whether this is a good time for REITs, but I am revamping my portfolio to increase the REIT counters weightage. Hope the move will let me harvest more dividend fruits in the future.
To prevent myself getting into a REIT quagmire, I am holding some reserves in the event of further REIT decline in 2017.
I have taken the opportunity to load more REITs into my portfolio. I have added FCT, FCOT, ParkwayLife Reit, MCT and SPH Reit. Looking to add A Reit and CCT too, if they could come down lower for me. Spoilt for choice as many REIT counters are looking real juicy.
I do not know whether this is a good time for REITs, but I am revamping my portfolio to increase the REIT counters weightage. Hope the move will let me harvest more dividend fruits in the future.
To prevent myself getting into a REIT quagmire, I am holding some reserves in the event of further REIT decline in 2017.
Saturday, 24 December 2016
2016 Portfolio Review (Part 1): Winners and Losers
Time flies and 2016 is ending soon. All my tradings are done and all dividends are collected. It is time to review my portfolio's winners and losers in 2016.
Top Dividend Contributors:
1. Saizen Reit (16.15%):
- The special dividend made Saizen Reit the first counter to attain freehold status in my portfolio.
2. Starhub (10.49%):
- Starhub would still be the top dividend contributor if not for the one season wonder Leicester City...oh Saizen Reit.
3. SGX (8.67%):
- SGX has dividend payout every quarter, almost like a REIT.
Dethroned: Starhub (2015).
In 2015, the top 3 dividend contributors accounted for 37% of my total dividends. In 2016, the top 3 dividend contributors accounted for just 35% of the total dividends. So, a bit of diversification.
Next, some Christmas fun and amusement.
Dividend Yield Winners (龙虎榜):
1. Saizen Reit (18.97%):
- This is actually the cash return or special dividend from Saizen Reit after it sold all its properties.
- Not a bad return after just a few months of holding Saizen Reit.
- Still waiting for details of its RTO...
2. Keppel Infra Trust (7.83%)
- Have been holding CitySpring since its IPO.
- Not a concern to me as its current price is higher than my breakeven price.
- May probably average down
3. AIMSAMPI Capital Industrial Reit (7.54%)
- Current price is less than my average price but higher than my breakeven price.
- Not too much concern to me as it is less than 5% of my portfolio.
- May probably average down.
Dethroned: Boustead (2015).
Dividend Yield Losers (老鼠榜):
1. Mapletree Com Tr (1.90%):
- MCT got first place because I added the bulk of MCT in 2016 Q4 and missed most of the dividend payouts for the year.
2. ParkwayLife Reit (2.66%):
- Same situation as MCT.
3. Capitaland (3.02%):
- Sleeping giant. I am still waiting for it to wake up to its potential and hoping its dividend could increase.
Dethroned: Capitaland (2015).
A return gain or loss will only be realised when I sell. The current unrealised return winners and losers:
Unrealised Return Winners (英雄榜):
1. SGX (79.5% gain):
- This is one of my foundation stocks and will remain for keep.
- SGX retains the trophy for this category.
2. SATS (71.7% gain):
- Will stay for dividends and growth.
3. Capitaland Mall Trust (29.6% gain):
- I loaded more CMT in the weaken Reit market.
- Will stay for dividends.
Unrealised Return Losers (狗熊榜):
The three musketeers from STI Index:
1. SIA Engg (21.2% loss)
- Price continues to decline to a 5-years low.
- Still pondering whether to add more or not?
2. Sembcorp Industries (15.8% loss)
- Probably could recover some loss after next dividend payout.
3. Keppel Corp (14.8% loss)
- The worst is over for Keppel Corp?
- May probably average down.
Dethroned: Keppel Corp (2015).
Wishing everyone a Merry Christmas and a Prosperous 2017.
Top Dividend Contributors:
1. Saizen Reit (16.15%):
- The special dividend made Saizen Reit the first counter to attain freehold status in my portfolio.
2. Starhub (10.49%):
- Starhub would still be the top dividend contributor if not for the one season wonder Leicester City...oh Saizen Reit.
3. SGX (8.67%):
- SGX has dividend payout every quarter, almost like a REIT.
Dethroned: Starhub (2015).
In 2015, the top 3 dividend contributors accounted for 37% of my total dividends. In 2016, the top 3 dividend contributors accounted for just 35% of the total dividends. So, a bit of diversification.
Next, some Christmas fun and amusement.
Dividend Yield Winners (龙虎榜):
1. Saizen Reit (18.97%):
- This is actually the cash return or special dividend from Saizen Reit after it sold all its properties.
- Not a bad return after just a few months of holding Saizen Reit.
- Still waiting for details of its RTO...
2. Keppel Infra Trust (7.83%)
- Have been holding CitySpring since its IPO.
- Not a concern to me as its current price is higher than my breakeven price.
- May probably average down
3. AIMSAMPI Capital Industrial Reit (7.54%)
- Current price is less than my average price but higher than my breakeven price.
- Not too much concern to me as it is less than 5% of my portfolio.
- May probably average down.
Dethroned: Boustead (2015).
Dividend Yield Losers (老鼠榜):
1. Mapletree Com Tr (1.90%):
- MCT got first place because I added the bulk of MCT in 2016 Q4 and missed most of the dividend payouts for the year.
2. ParkwayLife Reit (2.66%):
- Same situation as MCT.
3. Capitaland (3.02%):
- Sleeping giant. I am still waiting for it to wake up to its potential and hoping its dividend could increase.
Dethroned: Capitaland (2015).
A return gain or loss will only be realised when I sell. The current unrealised return winners and losers:
Unrealised Return Winners (英雄榜):
1. SGX (79.5% gain):
- This is one of my foundation stocks and will remain for keep.
- SGX retains the trophy for this category.
2. SATS (71.7% gain):
- Will stay for dividends and growth.
3. Capitaland Mall Trust (29.6% gain):
- I loaded more CMT in the weaken Reit market.
- Will stay for dividends.
Unrealised Return Losers (狗熊榜):
The three musketeers from STI Index:
1. SIA Engg (21.2% loss)
- Price continues to decline to a 5-years low.
- Still pondering whether to add more or not?
2. Sembcorp Industries (15.8% loss)
- Probably could recover some loss after next dividend payout.
3. Keppel Corp (14.8% loss)
- The worst is over for Keppel Corp?
- May probably average down.
Dethroned: Keppel Corp (2015).
Wishing everyone a Merry Christmas and a Prosperous 2017.
Saturday, 17 December 2016
REIT History: AIMSAMP Capital Industrial Reit
AIMSAMP Capital Industrial Reit is the 2nd largest of my REIT counters. I dug out history of the Reit from the Internet and I am particularly interested on its placements and rights issues in the past.
Apr 2007:
- IPO at $1.20 as Macarthurcook Industrial Reit, with 12 properties in the initial portfolio
- End 2007: 15 properties. Unit price: $0.97
(20% decline from IPO price)
2008:
- Increased number of properties since IPO to 21
- Global Financial Crisis
- End 2008: 21 properties. Unit price: $0.22
(Perhaps expanding too aggressively, MI Reit faced escalating debt issues compounded by GFC. Crashed 82% from IPO price just one year ago)
2009:
- Cambridge Industrial Trust sought to take over control of MI Reit. The move blocked by MAS because of potential conflict of interest issues
- Recapitalisation of MI Reit with Private Placement at $0.28
- 2 for 1 Rights at $0.159
- MI Reit acquired by AIMS Financial Group and AMP Capital
- Name changed to AIMSAMP Capital Industrial Reit
- End 2009: 22 properties. Unit price: $0.19
2010:
- 7 for 20 Rights at $0.155
- End 2010: 27 properties. Unit price: $0.21
2011:
- Private Placement at $0.1976
- Private Placement at $0.205
- 5 to 1 unit consolidation
- End 2011: 26 properties. Unit price: $0.91
(Not very clear whether one or two private placements?)
2012:
- End 2012: 25 properties. Unit price $1.44
2013:
- Private Placement at $1.60
- End 2013: 25 properties. Unit price $1.38
(My maiden purchase into the Reit at $1.70. Attracted by the high yield, I went in too high and the counter was in the red by year end)
2014:
- 7 for 40 Rights at $1.08
- Acquired Optus Centre in Australia
- End 2014: 26 properties. Unit price $1.42
(I took up the rights and subscripted to extra units)
2015:
- End 2015: 26 properties. Unit price $1.38
2016:
- Current price (16/12): $1.27
(The unit price has come down below $1.30 after the rate hike)
Quite a checkered history for this Reit. As I did not follow MI Reit in its early days, the early history may not be complete or accurate. Someone in the know please correct my error(s).
If I was in Singapore at MI Reit's IPO, most likely I would buy into MI Reit then. Don't really know if can breakeven now if I got in at IPO? I have quite a few toxic IPOs over the years, e.g., CitySpring (now Keppel Infra Tr), Yellow Pages, HPH Trust and Rickmers.
I like AIMSAMP Capital Industrial Reit for its high yield and its "off-sync" dividend payment months (3-6-9-12) to the common 2-5-8-11 for other REITS.
I have a high risk appetite and tolerance and AIMSAMPI Reit is part of my higher risk holdings. Hope this is a phoenix rising from the ashes.
Apr 2007:
- IPO at $1.20 as Macarthurcook Industrial Reit, with 12 properties in the initial portfolio
- End 2007: 15 properties. Unit price: $0.97
(20% decline from IPO price)
2008:
- Increased number of properties since IPO to 21
- Global Financial Crisis
- End 2008: 21 properties. Unit price: $0.22
(Perhaps expanding too aggressively, MI Reit faced escalating debt issues compounded by GFC. Crashed 82% from IPO price just one year ago)
2009:
- Cambridge Industrial Trust sought to take over control of MI Reit. The move blocked by MAS because of potential conflict of interest issues
- Recapitalisation of MI Reit with Private Placement at $0.28
- 2 for 1 Rights at $0.159
- MI Reit acquired by AIMS Financial Group and AMP Capital
- Name changed to AIMSAMP Capital Industrial Reit
- End 2009: 22 properties. Unit price: $0.19
2010:
- 7 for 20 Rights at $0.155
- End 2010: 27 properties. Unit price: $0.21
2011:
- Private Placement at $0.1976
- Private Placement at $0.205
- 5 to 1 unit consolidation
- End 2011: 26 properties. Unit price: $0.91
(Not very clear whether one or two private placements?)
2012:
- End 2012: 25 properties. Unit price $1.44
2013:
- Private Placement at $1.60
- End 2013: 25 properties. Unit price $1.38
(My maiden purchase into the Reit at $1.70. Attracted by the high yield, I went in too high and the counter was in the red by year end)
2014:
- 7 for 40 Rights at $1.08
- Acquired Optus Centre in Australia
- End 2014: 26 properties. Unit price $1.42
(I took up the rights and subscripted to extra units)
2015:
- End 2015: 26 properties. Unit price $1.38
2016:
- Current price (16/12): $1.27
(The unit price has come down below $1.30 after the rate hike)
Quite a checkered history for this Reit. As I did not follow MI Reit in its early days, the early history may not be complete or accurate. Someone in the know please correct my error(s).
If I was in Singapore at MI Reit's IPO, most likely I would buy into MI Reit then. Don't really know if can breakeven now if I got in at IPO? I have quite a few toxic IPOs over the years, e.g., CitySpring (now Keppel Infra Tr), Yellow Pages, HPH Trust and Rickmers.
I like AIMSAMP Capital Industrial Reit for its high yield and its "off-sync" dividend payment months (3-6-9-12) to the common 2-5-8-11 for other REITS.
I have a high risk appetite and tolerance and AIMSAMPI Reit is part of my higher risk holdings. Hope this is a phoenix rising from the ashes.
Thursday, 1 December 2016
My Stock Portfolio @ end Nov 2016
| No. | STOCK NAME | No.of SHARES | PORTFOLIO% | MARKET $ | |
|---|---|---|---|---|---|
| SGX | |||||
| SPH | |||||
| Starhub | |||||
| SATS | |||||
| OCBC Bank | |||||
| UOB | |||||
| CapitaMall Trust | |||||
| AIMS AMPI Reit | |||||
| Suntec Reit | |||||
| Keppel Corp | |||||
| SingTel | |||||
| Keppel DC Reit | |||||
| FCT | |||||
| Starhill Global Reit | |||||
| ParkwayLife Reit | |||||
| SPH Reit | |||||
| CapitaLand | |||||
| Mapletree Com Tr | |||||
| CDL HTrust | |||||
| Sembcorp Indust | |||||
| Frasers Com Tr | |||||
| SIA Engg | |||||
| Keppel InfraTr | |||||
| FCL | |||||
| ST Engg | |||||
| Cache Log Tr | |||||
| Frasers L&I Tr | |||||
| FE HTrust | |||||
| Accordia Golf Tr | |||||
| Saizen Reit | |||||
Sold:- Nil
Bought:- KDC Reit (rights), AA Reit, CMT, MCT, CDLHT, ParkwayLife Reit, FLT.
Dividends collected in Nov: $1,434.11
2016 avg dividends/month: $1,076.60 [45.8% up at this stage cf. 2015]
Boring process of building up my passive income portfolio brick-by-brick (bit-by-bit).
Comments:
1. REIT trees planting month in November. Took the opportunity to increase some of my REITs counters for future dividend fruits. Looking forward to maybe another opportunity in December.
2. STI has closed above 2,900 at end November. Who said the market would crash after Trump's victory?
3. Current worst performing counter: Sembcorp Indust (20.2% unrealised loss). Pondering whether to average down but found the REITs to be more tasty.
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