$$$ KPO and CZM $$$: Portfolio - March 2019

Wednesday, April 3, 2019

Portfolio - March 2019

We have hit a new high/milestone this month with a portfolio of $400k! Technically, we can sell off all our shares now, pay for our 4 room BTO and we will be debt free. lol. Of course not, we will never do that and I have blogged about it previously - Chiong Housing Loan or Take It Slow?

Our portfolio increase by 5.38% to $400,263 - $1,469.57 of capital withdrawal and $21,919.17 of capital gain. The one in blue is the StashAway portfolio, green is SGX and the total is in black.

If you prefer to look at numbers, this is the raw data used to generate the above bar graph. These numbers are as of the last day of the month.

"Cash Flow" is the amount of money being injected/withdrawn from the portfolio (buying stocks = +ve cash flow while selling stocks and collecting dividends = -ve cash flow)

- APAC Realty (8,000 units) @ $0.665
- QAF (3,000 units) @ $0.755
- Hong Fok (16,500 units) @ $0.940

We purchased 8,000 units of APAC Realty @ $0.57 last month and blogged about its risks. I set a trailing stop loss as the price went higher and higher and eventually, the stop loss was triggered. This gave us a 16.67% return or $760 profit. We are still holding on to the remaining 12,000 units that had a much higher entry price of $0.86 for dividends.

I have given up on QAF after looking at its latest financial results and decided to sell it after ~2 years.

Their earnings/profit has decreased by >50% and although QAF continues to pay out the same amount of dividends for FY 2018 (note that the payout ratio is 351%?!), it is not going to be sustainable... Once QAF cut their dividends and the price will tumble/react accordingly too which is something I would like to avoid. We lost -$1,559.73 in total and that translates an annualized return of -23.3%.

Hong Fok started running up in the last few weeks way before the new URA draft masterplan was announced. We noticed it and decided to set trailing stop loss as well which eventually triggered a day after it hits $1. Fundamentally, PB = 0.33 and PE = 3.32, Hong Fok still looks extremely undervalued. Having said that, I don't believe Hong Fok will ever reach PB 1 and its dividend yield of ~1+% is just not aligned with our long term goal. We made a profit of $4,988.25 in total which is an annualized return of 12.4%.

- Pacific Century (14,000 units) @ $0.445
- Mapletree Commercial Trust (500 units) @ $1.810
- Frasers Commercial Trust (7,500 units) @ $1.460
- Suntec REIT (5,000 units) @ $1.970
- First REIT (3,900 units) @ $0.990
- Far East HTrust (160 units - DRIP) @ $0.632

We initiated a pretty speculative small position Pacific Century (~1.5% of our portfolio) after reading this report by stockresearchasia.com - Pacific Century Regional Developments (PCRD) rewards shareholders' patience with bumper dividends of 8.7 cts. Ideally, we should be getting 6-8% dividend yield per year until it gets privatised.

Our initial plan/strategy to invest in a REIT ETF on a monthly basis was no longer valid (read this - Lion-Phillip S-REIT ETF - High Cost and Low Yield) and the money had to be redeployed somewhere. With the office rental recovering/growing, we bought the above commercial REITs to "ride" the wave.

First REIT has fallen from grace due to many uncertainties in its sponsor/parent company, Lippo Karawaci. It used to trade at around 5-6% dividend yield but is trading close to 9% dividend yield now. I will not go into the details but this is definitely quite risky.

No dividends for this month :(

Total dividends collected for 2019: $2,467.84
Average dividends per month for 2019: $822.61



Capital: $18,000.00
Current: $18,810.99

You might be interested in previous months update too:
Portfolio Performance in 2018 - $354,145
Portfolio - January 2019 - $376,381
Portfolio - February 2019 - $379,814
- Portfolio - March 2019 - $400,263

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  1. Hello KPO! I'm considering switching brokerage platforms and saw that you are using one that allows a trailing stop loss. Which platform is this? Or do you implement it manually (with insane discipline :D)?

    - John

    1. Hi John,

      Apology on the late response and sorry to disappoint but I set it manually on a daily basis. Hahaha. That is only for stocks I am trading/planning to exit. No stop loss for the rest of my portfolio.