No. | Counters | No. of Shares | Market Price (SGD) | Total Value (SGD) based on market price | Allocation % |
1. | FraserCenter Point Trust | 30,000 | 2.01 | 60,300.00 | 21.0% |
2. | China Merchant Pacific | 47,000 | 0.98 | 46,060.00 | 16.0% |
3. | SembCorp Ind | 9,000 | 4.19 | 37,710.00 | 13.0% |
4. | Vicom | 6,000 | 6.30 | 37,800.00 | 13.0% |
5. | Ascott Reit | 15,000 | 1.29 | 19,350.00 | 7.0% |
6. | Mapletree Greater China Commercial Trust | 20,000 | 0.98 | 19,600.00 | 7.0% |
7. | FraserCommercial Trust | 11,000 | 1.42 | 15,620.00 | 6.0% |
8. | Neratel | 20,000 | 0.78 | 15,600.00 | 6.0% |
9. | ST Engineering | 4,000 | 3.37 | 13,480.00 | 5.0% |
10. | OUE Ltd | 5,000 | 2.03 | 10,150.00 | 4.0% |
11. | Stamford Land | 10,000 | 0.54 | 5,400.00 | 2.0% |
12. | King Wan | 5,000 | 0.30 | 1,500.00 | 1.0% |
Total SGD | 282,570.00 | 100.00% |
Before I began my first portfolio update for the new year, I have made some changes to the layout from the number of lots to the number of shares as SGX has changed the allocation recently to 100 shares. It's just less confusing if we now state them in number of shares.
There are just a couple of light activities in the first month of the new year as we have already seen some volatility in the market.
I have also added a couple more shares for China Merchant Pacific (CMP) when it pulled back slightly to $0.975. The thesis for buying the shares remain the same: Strong Cashflow, sufficient dividend payouts based on diluted earnings and positive contributions from the newly purchased jiurui expressway. I also like the fact that they previously did a private placement at $0.985 as one of the ways to fund the acquisition, which is a couple of percentage points higher than their market price back then. They could of course have issued them at a much lower price and dilute the shareholders more, but even at $0.985 there are takers easily. The bond convertibles are almost being redeemed at a faster interval now, so we can see a huge drop in finance expenses in the upcoming results. They are expected to retain at least the $0.0425 for their final dividend distributions paid in May.
The portfolio has increased slightly from the previous month of $279,780 to $282,570 this month. A few of the Reits have run up due to the impending results (and dividends) announcement so I am extremely looking forward to receiving the first dividend payments from next month. The estimated annual dividends from the portfolio is $14,668. Still slowly building up my arsenal of dividend payers.
Expenses have been tight, as expected and I am already looking forward to months with bounty dividend payouts to ease off the expenses. I have booked a quick trip to HK by the end of the month to settle some family issues so the expenses for this month will be rocket high again.
How is your portfolio doing for the month of Jan? Already adding into undervalued shares?
