Cory Diary : Equity and Dividend Report YTD

Ytd Dividend collected $56k which is significantly higher than previous year. Reason I will mention more below paragraphs. Dividends collected have crossed $542k incl. delist agt. $491k without. Sigh ! did not cross half a million. That's fine because with dividend strategy it will. Just a matter of time.

Bao Jiak !

This few weeks I have been focusing on driving dividend yields through better companies reporting such as Ascendas. This counter is interesting because I was averaging down as the market get beaten up such that I have significant excess in Ascendas shares. And when the market turned bull I start selling excess in small stages. Soon after the report is above my expectation so I kind of bought back some partially at higher level from my sell price. The mindset is the Ascendas after reporting gives me a better picture overall of the business which deserve larger allocation.

In-addition I have decided to do some foray into SGX USD Reits such as Primes and United Hampshire which have high yields. Most of this money comes from earlier Tesla allocation reduction and some cash injection. This help to boost the dividend further as they were obtained before Ex-dividends but should be balanced out by some capital loss short term in overall portfolio performance. Last year I did kind of reverse, selling shares before Ex-Dividend to lock-in capital gains. There is no right or wrong in trying to re-balance the portfolio to a low level of risk to manage Sleep.

Scoped some Cdg too as I thought the result is pretty good and the initial positioning helps to motivate me to explore further. This year I have been expanding my counters for wider diversification while reducing position such as Tesla to slightly lower which still in net gain position from cost basis.

Lastly, I decided to clear out Daiwa Log Tr from the Portfolio. Fundamentally the business is ok but the exchange rate is a pain. Further with no end in sight that the Japanese gov will change course so I thought is time to release the stock without much losses. There are still Elite and iReit which also face the same rate issue however their gov have not problem reining in inflation when needed imo.

As usual, please dyodd as in sharing my thoughts and not advise.

Lastly, join me in Telegram.

Cory

2022-0819

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Articles in this Blog is personal take and sharing purposes only. Reader should seek their own professional help when making financial decision and be responsible for their decision.

Cory Diary : Green SGS Bonds

Cut it short is 3% Fixed Return issue by Singapore government. If you notice is 50 years bond. This aren't Singapore Saving Bond (SSB ). A quick glance from Retailer perspective, this aren't attractive.

One of my main concern is with current situation. Inflation can go much higher and one will be locked into it. Well, SSB is around there 3% too BUT the Capital is protected by SG Gov if you decided to sell it before Maturity.

As I know SGS bonds can be traded on the secondary market – at DBS, OCBC, or UOB branches; or on SGX through securities brokers. The price of SGS bonds may rise or fall before maturity. In higher interest rate environment at low liquidity selling market traded bond could be bad.

With 50 years maturity, People in 40s and above may not see it alive to maturity.

Maybe for children ? Nope. I rather help them top-up in CPF ( Better Rates) and avoiding inheritance problems.

And with current CPF and SSB serving as a reserve and basic safety nets, putting more into low yield asset may not cut it and could be detrimental for retirement. 

Happy National Day

Cory

2022-0809

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Cory Diary : Ascendas 1H22 Report

Ascendas reported another set of strong results. A quick glance on below table.

10th Aug'22 is Ex-Dividend. At current trading price of $2.99 which translate to annualized yield of about 5.27%.

Adjusted NAV 2.31 (after div distribution) the premium is about 1.29 or 29% to NAV.

Debt Management

Summary as below which looks healthy.

Diversified

Ascendas has a diversified portfolio mitigating currency impact.

DPU

Initially I have concern on the quality of the DPU. But below table probably addressed it mostly by the Footnotes.

Can't ask more in this report. Diverse property, debt, dpu and premium are well covered. Is such Reits that always let me think twice on allocating my money to safer elsewhere for lesser returns.

This is a quick glance on the result but I have most of what I needed to look at.

Please DYODD.

Cory

2022-0803

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Cory Diary : Sheng Siong 1H 2022

Sheng Siong result is within expectation with Covid measures on decline. The China operation continues to be profitable. Other income is basically Government grants on reduction and Sheng Siong still managed to achieve stronger net profit.

Revenue decrease and that we probably assume Malls able to pull away from easing of Covid tension despite inflationary environment that Sheng Siong should benefits. Their report highlighted Q2 FY2020 as reference when Covid measures resulted elevated demands however Q2 FY2021 Revenue is still higher than Q2 FY2022. So something to monitor.

Nevertheless is still a pretty set of good result and maintain a place in my portfolio to counter Inflation and Recession.  Current dividend yield roughly 3.9%.

Cory

2022-0802

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Articles in this Blog is personal take and sharing purposes only. Reader should seek their own professional help when making financial decision and be responsible for their decision.