Unlike the past 3 months, I have taken relatively less actions in October.
1. Added more iFAST as I felt excited and confident of its future growth after reading through the past annual reports. See previous post on my thoughts about the company. It now occupies 5.4% of my portfolio with my average price at $0.935.
2. Added more Hock Lian Seng after learning more about the company through the past annual reports. With a strong order book and balance sheet, feel confident that it can maintain its 2.5 cents of dividend. That gives me a yield of 5.5% with my average price of $0.454.
3. Added more Frasers Centrepoint Trust after its stellar Q4 performance and price dipped to $2.17 from the recent high of $2.2+. Expect DPU and NAV to continue to grow next year now that AEI of Northpoint is almost completed. Assuming that DPU comes in at 12.2 c, it will provide a yield of 5.6% at $2.17. My average price is now $2.06 which is only slightly above its current NAV of $2.02.
4. Bought ULTA Beauty at USD196.85. Felt that it was way oversold from its recent high of USD300 in June, especially when it is growing at 20% to 25% for this financial year. Its current PE of 25-27 is much lower than its past 5 years average of 38.
5. Bought 800 Super at $1.21. After a closer look at its business, decided that there is still room for growth in the next few years especially with the Waste-to-Energy (WTE) coming into operation at the end of this year.
6. Sold CDLHT at $1.63, making a small gain of 2.7%. DPU after rights is lower and the outlook of the hospitality sector probably need another year or two for greater clarity. So decided to sell and use the proceed for other counters.
7. Sold OUEHT at $0.805, making a gain of 5.8%. Similar reason on hospitality sector. Decided not to wait for quarterly results in the coming week as I have made a small gain and am unsure how the DPU will be affected as there will be no more income support.
Showing posts with label cdlht. Show all posts
Showing posts with label cdlht. Show all posts
Wednesday, 25 October 2017
Monday, 28 August 2017
Buy and sell actions in August
Lots of action this month. Divested a few counters but bought quite a bit with the $$$ from divestment of Best World.
Out of Favour
Divested Kingsmen Creatives at the same price I bought. This is the turnaround story that is not working out yet. It reported a poor Q2 and I decided to wait for a clearer picture before re-entering again.
Divested half my stake in ISEC at 0.315. Tiny profit. Still an interesting outfit but its growth isn't exciting enough for it to occupy the middle of my portfolio. Hence decided to hold less and watch how the story unfolds.
Sold Capital Mall Trust at 2.10. It has risen more than 10% from my purchased price. Covered 2 years of dividend. Will recycle cash to other counters that offer higher dividend yield. Might re-enter when it offers a better yield.
Sold Mircro-mechanics at 1.41. Bought purely for its track record for dividend but its price has gone up to 7 years of dividend due to its good performance. Decided to divest it as its dividend yield dropped below 5%. Surprised me with a second rise of dividend this year and with a 8 cents dividend, yield gone up to 5.6%. On hind side, should have continued to hold on to it but actually felt pretty neutral about it. Probably am satisfied with the above expectation return from the counter.
Up the Dividend
Bought a lot more counters especially REIT to increase my annual dividend. Also, I like their outlook from next year onward.
Added Fraser Centrepoint Trust at 2.07. With the AEI of North Point completing this year, next year DPU should increase. Assuming a 12 cents DPU next year, it will translate to 5.8% yield and potential upside if DPU is even higher. Possible catalyst could be acquisition of Punggol Waterway Point.
Added Starhill Global Reit at 0.76. While Orchard office occupancy could still pose a problem, AEI at Plaze Arcade in Australia is expected to be completed in 20181Q. China property would have a more stable distribution with the completion of renovation by 20174Q. Expecting a minimal 4.8 cents DPU next year. This translates to a 6.3% yield.
Bought CDL Hospitality Trust at 1.575. I have bought and sold CDLHT a couple of times for the past 4 years. Win some, lose some and overall still negative. Betting on the improvement of its hotels in the next two years. Assuming a 10 cents DPU, dividend yield is approximately 6.3%.
Bought Mapletree Commercial Trust at 1.55. A retail and office reit which I have missed for the longest time. Its DPU has been increasing since its listing. Estimating a 9 cents DPU which will give a 5.8% yield.
Bought VICOM at 5.81 (cd) and 5.65 (xd). A subdue Q2 results but with immediate effect it is paying out at least 90% of its earning as dividend. It gives more certainty that the company can maintain its dividend for the next two to three years even when revenue dropped due to increasing de-registration of cars. From 2020/21 onwards, it should see an increase in its revenue and income again with more vehicles requiring checking.
Buying into the Sell-down
Quite a number of counters were sold down for the past month, for good or questionable reasons. The sell-down provided me an opportunity to buy some shares of the counter which I think could do well in the future.
Bought Dairy Farm at USD7.45. The company has announced a decent Q2 recently and turnaround seems to gathering speed with good progress in China. The price was beaten down by 2% to 3% in one of the trading day and I deem it as an opportunity to add some.
Bought InnoTek at 0.34. The stock is beaten down because it reported a poor Q2. However, 1H is still an improvement. While the remaining year might remain a challenge, effort has been put in by management to turn the company around. Initiated the position with the belief that the turnaround will come in 2018 or 2019.
Bought mm2 Asia at 0.475. The price has dropped sharply after its GV deal did not get through. Nevertheless, it reported a good 1Q results and I decided to take a punt on it.
Bought HKLand at USD 7.46. Read about its cheap P/B and good results. Hence, decided to take a stake when its price has dropped by about 5% from its recent high.
Bought UMS at 0.995. The price has dropped sharply after guidance of moderate performance in 2H. Nimble a bit as I believe it will maintain its dividend which is a tasty 6%.
Bought 800 Super at 1.12. The price has dropped after a poor Q3. The price weakened further just before it announced its full year results. Took the opportunity to re-enter the counter which I have divested at 1.26 in April.
Bought Singapore O&G at 0.44. The price has dropped sharply after its weak Q2 results. Took a punt on it as company is still profitable and should get better results moving forward.
US Market
Most of my purchase decision for the US markets come from the recommendation of MF subscription services. Unlike my local counters, I did not do as much homework on them. While I think that the valuations of the counters are high, I like their future stories hence my stake in them. All my purchases are small and will slowly wait for opportunity to accumulate more shares in the future.
Bought Vail Resort at USD210.51. Luxury ski resorts operator. It has been growing through acquisition and opportunities to grow is still available. Its plan to keep its resort busy all-year round is working out well with Epic Discovery activities coming on more than one location.
Bought Cognex at USD105. Machine-Vision systems are used all around the world. Growth expected to continue.
Bought Priceline at USD1870. Good Q2 results but market is spooked by its lower Q3 guidance. Taking this opportunity to have one bite on it.
Bought Intuitive Surgical at USD935. Intuitive Surgical have been growing for many years and its recurring income has increased. Decided to buy 2 shares to participate in its growth even though it has a high PE of 44x.
Out of Favour
Divested Kingsmen Creatives at the same price I bought. This is the turnaround story that is not working out yet. It reported a poor Q2 and I decided to wait for a clearer picture before re-entering again.
Divested half my stake in ISEC at 0.315. Tiny profit. Still an interesting outfit but its growth isn't exciting enough for it to occupy the middle of my portfolio. Hence decided to hold less and watch how the story unfolds.
Sold Capital Mall Trust at 2.10. It has risen more than 10% from my purchased price. Covered 2 years of dividend. Will recycle cash to other counters that offer higher dividend yield. Might re-enter when it offers a better yield.
Sold Mircro-mechanics at 1.41. Bought purely for its track record for dividend but its price has gone up to 7 years of dividend due to its good performance. Decided to divest it as its dividend yield dropped below 5%. Surprised me with a second rise of dividend this year and with a 8 cents dividend, yield gone up to 5.6%. On hind side, should have continued to hold on to it but actually felt pretty neutral about it. Probably am satisfied with the above expectation return from the counter.
Up the Dividend
Bought a lot more counters especially REIT to increase my annual dividend. Also, I like their outlook from next year onward.
Added Fraser Centrepoint Trust at 2.07. With the AEI of North Point completing this year, next year DPU should increase. Assuming a 12 cents DPU next year, it will translate to 5.8% yield and potential upside if DPU is even higher. Possible catalyst could be acquisition of Punggol Waterway Point.
Added Starhill Global Reit at 0.76. While Orchard office occupancy could still pose a problem, AEI at Plaze Arcade in Australia is expected to be completed in 20181Q. China property would have a more stable distribution with the completion of renovation by 20174Q. Expecting a minimal 4.8 cents DPU next year. This translates to a 6.3% yield.
Bought CDL Hospitality Trust at 1.575. I have bought and sold CDLHT a couple of times for the past 4 years. Win some, lose some and overall still negative. Betting on the improvement of its hotels in the next two years. Assuming a 10 cents DPU, dividend yield is approximately 6.3%.
Bought Mapletree Commercial Trust at 1.55. A retail and office reit which I have missed for the longest time. Its DPU has been increasing since its listing. Estimating a 9 cents DPU which will give a 5.8% yield.
Bought VICOM at 5.81 (cd) and 5.65 (xd). A subdue Q2 results but with immediate effect it is paying out at least 90% of its earning as dividend. It gives more certainty that the company can maintain its dividend for the next two to three years even when revenue dropped due to increasing de-registration of cars. From 2020/21 onwards, it should see an increase in its revenue and income again with more vehicles requiring checking.
Buying into the Sell-down
Quite a number of counters were sold down for the past month, for good or questionable reasons. The sell-down provided me an opportunity to buy some shares of the counter which I think could do well in the future.
Bought Dairy Farm at USD7.45. The company has announced a decent Q2 recently and turnaround seems to gathering speed with good progress in China. The price was beaten down by 2% to 3% in one of the trading day and I deem it as an opportunity to add some.
Bought InnoTek at 0.34. The stock is beaten down because it reported a poor Q2. However, 1H is still an improvement. While the remaining year might remain a challenge, effort has been put in by management to turn the company around. Initiated the position with the belief that the turnaround will come in 2018 or 2019.
Bought mm2 Asia at 0.475. The price has dropped sharply after its GV deal did not get through. Nevertheless, it reported a good 1Q results and I decided to take a punt on it.
Bought HKLand at USD 7.46. Read about its cheap P/B and good results. Hence, decided to take a stake when its price has dropped by about 5% from its recent high.
Bought UMS at 0.995. The price has dropped sharply after guidance of moderate performance in 2H. Nimble a bit as I believe it will maintain its dividend which is a tasty 6%.
Bought 800 Super at 1.12. The price has dropped after a poor Q3. The price weakened further just before it announced its full year results. Took the opportunity to re-enter the counter which I have divested at 1.26 in April.
Bought Singapore O&G at 0.44. The price has dropped sharply after its weak Q2 results. Took a punt on it as company is still profitable and should get better results moving forward.
US Market
Most of my purchase decision for the US markets come from the recommendation of MF subscription services. Unlike my local counters, I did not do as much homework on them. While I think that the valuations of the counters are high, I like their future stories hence my stake in them. All my purchases are small and will slowly wait for opportunity to accumulate more shares in the future.
Bought Vail Resort at USD210.51. Luxury ski resorts operator. It has been growing through acquisition and opportunities to grow is still available. Its plan to keep its resort busy all-year round is working out well with Epic Discovery activities coming on more than one location.
Bought Cognex at USD105. Machine-Vision systems are used all around the world. Growth expected to continue.
Bought Priceline at USD1870. Good Q2 results but market is spooked by its lower Q3 guidance. Taking this opportunity to have one bite on it.
Bought Intuitive Surgical at USD935. Intuitive Surgical have been growing for many years and its recurring income has increased. Decided to buy 2 shares to participate in its growth even though it has a high PE of 44x.
Sunday, 12 February 2017
January and February Portfolio
It has been a busy past 6 weeks. Things are finally looking to settle a bit and it's time to continue to keep in touch with my thinking and reflection on my investment.
It has been a good start to the year for the market and my portfolio also benefitted from it. Year to date, it has returned 12.8%. Woohoo, I hit my target in less than two months. So would I achieve another 40% return this year? I hope so but you never know. Who knows? The market might just turn south any time. So continue to monitor the company's performance and invest/divest at the right time for the long term.
I have divested the following for the first one and a half month to increase my cash buffer and to reduce my REIT exposure.
It has been a good start to the year for the market and my portfolio also benefitted from it. Year to date, it has returned 12.8%. Woohoo, I hit my target in less than two months. So would I achieve another 40% return this year? I hope so but you never know. Who knows? The market might just turn south any time. So continue to monitor the company's performance and invest/divest at the right time for the long term.
I have divested the following for the first one and a half month to increase my cash buffer and to reduce my REIT exposure.
- Best World: Partial sold as it has rose more than 50% within a month. It continue to be in my top 5 stocks holding.
- Thai Beverages: Among the few counters that I punted, I am just more excited about the rest.
- Raffles Medical Group: Partial sold to reduce my exposure. Remain my top stock in terms of initial capital outlay.
- CDLHT: To reduce my REIT exposure to within 30%.
- Starhill Global: To reduce my exposure to retail reit. And currently I favour neighbourhood reit more.
I have added the following positions.
- Valuetronics: Increased my stake slightly for its dividend.
- UMS: Bought a small stake after reading its plan to divest its customer base and attracted by its consistent dividend.
- Micro-mechanics: Increased my stake after it announced its good improvement in its latest quarter. Attractive dividend and potential of further growth.
- Dutech: Took a very small stake after reading Thumbtack Investor's detailed analysis
- Sing Medical: Took a very small stake as I perceived that the new management will continue to improve the group's performance
- Fraser Logistics and Industrial Trust: Took a very small stake after reading about it on The Edge and Dividend Warrior's analysis.
After the above actions, my top 5 holdings in terms of initial capital outlay are:
- RMG @ average price of $1.48
- Plife Reit @ average price of $2.32
- Straco @ average price of $0.84
- BWL @ average price of $0.60
- FCT @ average price of $2.01
Thursday, 3 November 2016
Portfolio October 2016
The following adjustments are made to my portfolio in October.
1. Added a small stake of Old Chang Kee for its dividend and possible growth in 2 to 3 years with the completion of its new factories.
2. Added a small stake of FJ Benjamin for a turnaround story. The group is placed on SGX watchlist for 3 consecutive years of pre-tax loss. It has completed its re-structuring that started in 2013/2014. Recently clinches distributor right of CASIO watch in Indonesia and Marc Jacobs.
2. Added a small stake of FJ Benjamin for a turnaround story. The group is placed on SGX watchlist for 3 consecutive years of pre-tax loss. It has completed its re-structuring that started in 2013/2014. Recently clinches distributor right of CASIO watch in Indonesia and Marc Jacobs.
3. Re-entered CDLHT which I sold at $1.495 in July. Feels that the current price of $1.335 provides a good yield during the current downturn and believes it will do well when the increase in hotel rooms stabilize after 2018.
4. Increased my stake in ISOTeam after reading throught its latest AR. Confident of its contiued growth in the next few years. Also, reclassifed it from punt to growth.
5. Divested my holdings Capital Retail China Trust to reduce my exposure to REIT which I would capped now at around 30% instead of the original plan of 40%.
6. Divested SIA Engineering due to poor Q2 results and no special dividend declared from its divestment of HAESL.
Current dividend yield (based on purchase price) is 4.4%.
REIT (31.2%)
Parkway Life REIT
Starhill Global REIT
Fraser Centrepoint Trust
CDL Hospitality REIT
CDL Hospitality REIT
Dividend Stocks (29.8%)
Straco
ST Engineering
Valuetronics
QAF
MicromechanicsOld Chang Kee
For Growth and Punting (34.2%)
Growth Stocks (30.6%)
Best World
Raffles Medical
ISO Team
ISO Team
Punt (3.6%)
Food Empire
FJ Benjamin
Thursday, 28 July 2016
Portfolio July 2016
I have made some adjustments to my portfolio in July. I decided to reduce my exposure to REIT, so divested CDLHT and reduced SG REIT. This leads to a drop in my dividend which led to the purchase of QAF and increase stake of Valuetronics.
I also added back some Best World when its price dropped form $1.5+ to $1.3+ recently. Finally, I initiated a position on ISOTeam after reading positive reports about it and quite like its performance over the past few years.
With all the adjustment, the current dividend yield decreases to 4.2%.
For Income (55.6%)
REIT (31.7%)
Dividend Stocks (23.9%)
SIA Engineering
QAF
For Growth and Punting (38.6%)
Punt (2.5%)
I also added back some Best World when its price dropped form $1.5+ to $1.3+ recently. Finally, I initiated a position on ISOTeam after reading positive reports about it and quite like its performance over the past few years.
With all the adjustment, the current dividend yield decreases to 4.2%.
For Income (55.6%)
REIT (31.7%)
Parkway Life REIT
Starhill Global REIT
Capital Retail China Trust
Fraser Centrepoint Trust
Dividend Stocks (23.9%)
ST Engineering
Valuetronics
Vicom
SGXVicom
SIA Engineering
QAF
For Growth and Punting (38.6%)
Growth Stocks (36.1%)
Straco
Best World
Raffles Medical
Food Empire
Food Empire
Punt (2.5%)
ISOTeam
Sunday, 5 June 2016
Portfolio June 2016
With all the actions over the past half a year, this is my current portfolio. Hopefully, there will be less actions in the second half of the year.
The current dividend yield of my portfolio is 4.8%.
For Income (57.1%)
REIT (39.8%)
Dividend Stocks (17.3%)
For Growth and Punting (39.3%)
Punt (8.1%)
The current dividend yield of my portfolio is 4.8%.
For Income (57.1%)
REIT (39.8%)
Parkway Life REIT
Starhill Global REIT
Capital Retail China Trust
CDL Hospitality Trust
Fraser Centrepoint Trust
Fraser Centrepoint Trust
Dividend Stocks (17.3%)
SGX
ST Engineering
Vicom
For Growth and Punting (39.3%)
Growth Stocks (31.2%)
Straco
Best World
Raffles Medical
Food Empire
Food Empire
Punt (8.1%)
Valuetronics
Sunningdale Tech
Cityneon
Sunningdale Tech
Cityneon
Based on the above, I was reminded that I am drawn to businesses that are linked to health, retail and service sectors. Exceptions are the dividend stocks in which my perception of the companies' ability to sustain its dividend seems to be more important. Of course, I have two stocks Valuetronics and Sunningdale tech in the manufacturing sector. Classified under punt as I have yet to spend too much time to understand their business even though both have positive reports and pay regular dividend.
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