Why Parkway Life REIT

Portfolio 

Parkway Life REIT has 47 properties. Parkway Life REIT invests in income-producing real estate and real estate related assets that are used primarily for healthcare and healthcare-related purposes.

1. Singapore: Mount Elizabeth Hospital, Parkway East Hospital, Gleneagles Hospital
2. Japan: Majority Assets, too many to list :p
3. Malaysia, Kuala Lumpur: Gleneagles Intan Medical Centre, KL

Results for 3rd Quarter 2015

For the third quarter of 2015 (3Q 2015) on 5th November 2015 is positive. 

Distribution Per Unit (DPU) Increase from 2.90 cents to 3.36 cents as compared to same quarter last year a up of  15.6%. Which is good news for us uni-holders!

Finance & Debt

Finance: Net revenue and Net property income increased by 2.4%. Now the on-going increase of interest rates with the fed hike, and with majority of it's assets in Japan,  Parkway Life REIT has hedged its Japan net income for the next few years. 
Debt: As of Nov 2015, Parkway Life REIT  Gearing ratio remains at a healthy level of 35.8% and weighted average debt term to maturity stands at 3.7 years.

Conclusion

To be continued...

February In Review

Happy Lunar New Year the year of the Monkey!

Company	Portfolio (%)	Last Done	Unrealised Gain/Loss (%)
Lee Metal Holdings	11%	0.300	-4.12%
Parkway Life REITS	15%	2.330	4.85%
Cache Logistics Trust	12%	0.860	-8.75%
AIMS AMP Captial REIT	15%	1.320	-3.38%
Singpost	9%	1.450	6.76%
ST Engineering (SRS)	19%	2.780	2.41%
Singtel	1%	3.600	3.80%
ICBC (HKD)	8%	3.930	-2.35%
Super Group (CH)	5%	0.780	10.38%
Royal Dutch Shell B class	4%	44.350	-0.57%

The straits times index went up 60-70 points from 2550 a couple week ago and I am finally seeing some greens in my portfolio especially those i bought on the way down.

Singpost (SGX:S08)

Earlier this month before CNY, I did a quick trade. Bought 9000 Singpost shares sold 7000 intraday for a small ang pow and kept remaining 2000 in my portfolio not 52 week low but  good enough at $1.355. Will be preparing for cash dividends soon yay! 

Super Group (SGX:S10)

Over a cup of fragrance Owl coffee I commented to CH how rich and aromatic is was, CH mentioned that Owl Brand is owned by Super Group Ltd. This kept me up during the night readign through their businesses, success stories and I did a quick check on their financial figures

I came to a conclusion that Super seem to be a decent company with positive cash flow with conservative balance sheet. This is an ideal candidate for paying dividend of at current price of 70.5cents and DPU of 4cents is dividends of 4.4 % yield and P/E 17.5  with potential for future revenue growth.

Super has been experiencing a continuously selling down hitting the 52 week low of 68cents in Mid-Jan. Checking against past records it seem to be a good chance to accumulate more. While waiting for it to bottom out,I decided to scoop 2 lots at $0.705 to test out the theory of optimism.

MACD is heading towards the oversold territories so any further price weakness might be a good opportunity to accumulate with a target of 85cents 

Royal Dutch Shell B class (NYSE:RDS.B)

It wasn't easy cutting on dairy farm. Probably shortsighted of me I did not hold on longer but rolling to Royal Dutch Shell is not slug. with a 8% dividend consistently paid out since god knows when, with a DPU at USD 94cents/share . It seemed like a nice counter to buy at a 30% discount considering the depressed oil prices since 2014. 20 shares is nimble at a 8% premium and a good lesson how i did not have the balls to enter at USD39 share but I do foresee oil prices to hover at USD30/barrel for awhile. unless the Arabs agree to reduce output, prices are going to remain depressed!

January 2016 in review

Company	Portfolio (%)	Unrealised Gain/Loss (%)	Units	FY16 Collected Dividends
Lee Metal Holdings	11%	-4.12%	10,000	$0.00
Parkway Life REITS	11%	-2.50%	1,400	$47.18
Cache Logistics Trust	11%	-10.62%	3,200	$37.57
AIMS AMP Captial REIT	15%	-2.65%	3,100	$0.00
Sembcorp Industries Corp	7%	-20.95%	600	$0.00
StarHub (SRS)	21%	-12.18%	1,500	$0.00
Keppel Corp	0%	0.00%		$0.00
Dairy Farm International (USD)	7%	-6.44%	200	$0.00
ICBC (HKD)	3%	-11.71%	1,000	$0.00
Singtel	1.25%	0.06%	100	$81.60

Last minute add-ons for 2015

Company	Portfolio (%)
Lee Metal Holdings	10%
Singapore Telecom	16%
Cache Logistics Trust	9%
AIMS AMP Captial REIT	9%
Sembcorp Industries Corp	12%
StarHub (SRS)	18%
Keppel Corp	4%
Dairy Farm International (USD)	6%
Singpost	8%

Cache Logistics Trust recently when through a share dilution private placement price at 94cents was swift. The price drop was also swift causing it to bottom at 86cents. This I believe was for a warehouse acquisition in Australia that will help to bring a net income of 7.1% and WALE of 7.7years. 

I was initially upset because it was not open to unitholders. However, looking back, I think this is a good calculated decision by the the management. They were wanted to complete the acquirement swiftly, a private placement is the way to go with lesser parties involved comapred to the  long process through unitholders!  As long as its value added I suppose its okay!

Cache was one of the REITS i first bought. Price have drop almost 20% at 94cents since i last bought. Hence,  assuming it has bottom out at 86cents, I  decided averaging at 88cents. It still higher than 94 cents private placement but at least its in a better position.

As i learn about dilution of shares, I learnt that this acquisition will positively add on to  cache future returns and what better chance to average down.  The past few days have seen cache rising prices quite well supported raising steadily. It closed at S$0.915 today.  I might still  like to add some more but will have to wait for the right time seeing the slow stochastic has reached 79%. I think it might still climb up till 94cents before correction.

Singapore post stole the limelight last year when Alibaba bought 20% stake in Singpost with it's shares soaring above S$2.  Singpost has been paying constant dividends 3.8% (0.068.yr @ S$1.77) and the switch of focus from traditional post to e-commence is a sign of changing with times with the support of Jack Ma and his team at Alibaba plus the exponential increase of people shopping from Taobao, it is inevitable that Singpost is heading the right direction.

Two Weeks ago(10 December 2015), CEO Dr Wolfgang Baier the man whom revamp singpost business resigned. Not much is reveal on the suddenly resignation but insiders are lamenting on the differences of views with the board of directors. I cautioned a friend on falling knives when he mentioned he was queuing at S$1.705. A day later, Singpost dropped to S$1.660. Seeing strong support over the next 1-2 days, I thought it be good to nibbled some at S$1.665. I was even bullish it was going to turn the corner as it reached S$1.68. 

24 December 2015, the reversal happened when news broke that there will be an external corporate governance probe seeing the price drop 3% to $1.61(lowest in 18months)

Seems like those shouting for $1.50 is becoming a reality. Should I average down abit more or save up in my war chest or just cut .

http://www.businesstimes.com.sg/companies-markets/singpost-tumbles-on-upcoming-corporate-governance-probe

I also average down slightly on Starhub at S$3.58 to S$3.84 when I topped up my SRS account.  I wanted to make sure i do not average down too much with my limited funds. Starhub as a company is highly leverage(we will talk about it next time). I am still in 2 minds if i want to cut my losses or let them roll.

My 6 months Journey Today

Company	Units	Portfolio (%)	FY15 Collected Dividends
Lee Metal Holdings	10,000	12.79%	$80.00
Singapore Telecom	1,200	20.50%	$0.00
Cache Logistics Trust	2,500	10.08%	$42.80
AIMS AMP Captial REIT	2,100	11.78%	$47.60
Sembcorp Industries Corp	500	8.03%	$25.00
StarHub (SRS)	1,000	16.10%	$100.00
Keppel Corp	200	5.50%	$0.00
Dairy Farm International (USD)	200	7.67%	$0.00
NOL	1,500	7.57%	$0.00

Nothing much has changed except the dip in share prices bought  pre 24 August 2015. Dividends collected $335 with a 5.14% Dividend Yield. 

Reflecting back, one of the biggest mistakes was hastily to open a position on Singtel once i saw a dip. As  you can see it makes up a bulk, 20% of my portfolio together with Sembcrop and Starhub. I am looking to wait for the STI index to drop to 2750 range and start accumulating. 

Dairy farm, which I thought I got at good value at $6.59 isnot so good value short term afterall. It took another dip to USD 5.79 but rebound back to USD 5.90 today. As much as I  like to add 300 more shares, I need money for my current renovation for my new BTO. I shall save my bullets. 

Keppel Corp and Sembcorp Industrial is not all rosy. Which one should I add my position too? Sembcorp Ind is now trading almost 15% below NAV and Keppel offers good Dividend yield with its more diversify portfolio.

Lets talk about NOL, being a newbie I am, I was drawn into the hoo ha.. that NOL was going to get sold and at a premium rumors were $1.80 some were screaming for $3 but today we know its $1.30. Now I was so fixated I could make a quick over the weekend. I jumped in and waited the the news announced. $1.30 thats not too bad. no fish, shrimp also okay. But what I didnt know was there are pre-conditions before the deal goes through and that is scheduled till June 2016. When means my  money is tied up till then. for a 5-6% upside and a 30% downside should the deal doesn't go through.

We can sell our shares in the open market but having bought it at the market peak, tranlates to losing money. Hence, I have no choice but to hold on. Lucky for me I wasn't too greedy to contra/leverage/spurge too much in this speculation. 

The discussion on Payscale in Google

Bock says managers at any company should ask, “How many people would you trade for your very best performer? If the number is more than five, you’re probably underpaying your best person. And if it’s more than ten, you’re almost certainly underpaying.”

Link

Small Positions in the November rain

Oh it's raining in November.The rain helps to masked  tears from the falling Market on my recent trades. A big lesson learnt because I lost twice the amount of my annual dividends from my portfolio by Contra In/Out Trade on NOL and Yuuzoo through speculation. Lesson Learnt: Don't kaypoh finger itchy.

On lighter note, I averaged down on AIMS AMP Capital REIT by a little but wasn't able to do so on Cache Logistics Trust before it started climbing up. Well, perhaps the feds hike in December will push prices drop abit for me to increase my positions