Hi everyone! It has been a long time (about slightly more than a month)! We just came back from Canada recently and it was so pretty!
Keep a lookout for CZM's travel posts! They will take a while though because we are still pretty busy with our house renovation (there were some complications/miscommunication between the ID and carpenter -.-) and planning for our next trip (RTW). You can read more about the RTW trip here - Quick Update - Too Busy to Blog.
Our portfolio increase by 0.20% to a new high $421,644 - $7,939.82 of capital injection and $7,093.64 of capital loss. 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"Cash Flow" is the amount of money being injected/withdrawn from the portfolio (buying stocks = +ve cash flow while selling stocks and collecting dividends = -ve cash flow)
SOLD
None
BOUGHT
- HKEX:3988 - Bank of China (10,000 units) @ HK$3.00
- HKEX:939 - CCB (10,000 units) @ HK$5.68
We decided to take a look at Hong Kong after months of rioting and started with the Hang Seng Index components. Similar to Singapore, there is no dividend withholding tax in Hong Kong (as corrected by both Evilbdboi and maru in the comments - there is a 10% withholding tax on H shares), so we filter by looking at companies >5% dividend yield that will be sustainable. Soon we were left with a few big names and interestingly, we realized the valuation of the banks was more attractive as compared to Singapore's banks (lower PB, higher yield, etc.).
As you can see, the payout ratio is at a low 30%+. Comparing other metrics, CCB's and BOC's non-performing loan is at 4.4% and 5.1% vs DBS at 6.9%.
We eliminated HSBC because their payout ratio was much higher. Anyway, these are H shares (China stocks listed in Hong Kong) and when you compare it with the A shares (listed in either the Shanghai or Shenzhen stock exchanges), it seems to be "discounted/cheaper" too. You can read more about it here - Investopedia - H-Shares vs. A-Shares: What's the Difference?
Dividends
The total dividends collected this month is $3,033.52 (shiok!). The breakdown is as follows:
StashAway
Capital: $22,250.00
Current: $24,776.00
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
- Portfolio - April 2019 - $400,263
- Portfolio - May 2019 - $392,934
- Portfolio - June 2019 - $415,611
- Portfolio - July 2019 - $420,798
- Portfolio - August 2019 - $421,644
Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)
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| We flew to the USA on Cathay Pacific First Class due to the error fare |
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| Visited the Lincoln Memorial in Washington DC |
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| Niagara Falls from the Canada side |
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We rented a campervan to travel around
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| Moraine Lake in Banff National Park (Our favorite!) |
Keep a lookout for CZM's travel posts! They will take a while though because we are still pretty busy with our house renovation (there were some complications/miscommunication between the ID and carpenter -.-) and planning for our next trip (RTW). You can read more about the RTW trip here - Quick Update - Too Busy to Blog.
Our portfolio increase by 0.20% to a new high $421,644 - $7,939.82 of capital injection and $7,093.64 of capital loss. 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)
SOLD
None
BOUGHT
- HKEX:3988 - Bank of China (10,000 units) @ HK$3.00
- HKEX:939 - CCB (10,000 units) @ HK$5.68
We decided to take a look at Hong Kong after months of rioting and started with the Hang Seng Index components. Similar to Singapore, there is no dividend withholding tax in Hong Kong (as corrected by both Evilbdboi and maru in the comments - there is a 10% withholding tax on H shares), so we filter by looking at companies >5% dividend yield that will be sustainable. Soon we were left with a few big names and interestingly, we realized the valuation of the banks was more attractive as compared to Singapore's banks (lower PB, higher yield, etc.).
As you can see, the payout ratio is at a low 30%+. Comparing other metrics, CCB's and BOC's non-performing loan is at 4.4% and 5.1% vs DBS at 6.9%.
We eliminated HSBC because their payout ratio was much higher. Anyway, these are H shares (China stocks listed in Hong Kong) and when you compare it with the A shares (listed in either the Shanghai or Shenzhen stock exchanges), it seems to be "discounted/cheaper" too. You can read more about it here - Investopedia - H-Shares vs. A-Shares: What's the Difference?
Dividends
The total dividends collected this month is $3,033.52 (shiok!). The breakdown is as follows:
| Company | Symbol | ExDate | Shares | Total |
| APAC Realty Limited | CLN | 28-Aug-19 | 12,000 | $90.00 |
| City Developments Limited | C09 | 23-Aug-19 | 700 | $84.00 |
| Wilmar International Limited | F34 | 21-Aug-19 | 2,000 | $60.00 |
| Raffles Medical Group Ltd | BSL | 19-Aug-19 | 14,000 | $70.00 |
| First Real Estate Investment Trust | AW9U | 14-Aug-19 | 11,009 | $236.67 |
| Sheng Siong Group Ltd | OV8 | 14-Aug-19 | 18,000 | $315.00 |
| Parkway Life Real Estate Investment Trust | C2PU | 7-Aug-19 | 2,000 | $65.40 |
| Frasers Logistics & Industrial Trust | BUOU | 6-Aug-19 | 10,200 | $249.90 |
| Far East Hospitality Trust - Stapled Units | Q5T | 6-Aug-19 | 10,316 | $93.87 |
| Ascott Residence Trust | A68U | 6-Aug-19 | 11,000 | $377.40 |
| Starhill Global Real Estate Investment Trust | P40U | 6-Aug-19 | 12,000 | $132.00 |
| Mapletree North Asia Commercial Trust | RW0U | 5-Aug-19 | 5,000 | $97.49 |
| SPDR STI ETF | ES3 | 5-Aug-19 | 13,000 | $831.99 |
| DBS Group Holdings Ltd | D05 | 5-Aug-19 | 800 | $240.00 |
| Suntec Real Estate Investment Trust | T82U | 2-Aug-19 | 5,000 | $78.25 |
| Mapletree Commercial Trust | N2IU | 1-Aug-19 | 500 | $11.55 |
Total dividends collected for 2019: $15,580.56
Average dividends per month for 2019: $1,947.57
Average dividends per month for 2019: $1,947.57
StashAway
 |
| KPO |
 |
| CZM |
Capital: $22,250.00
Current: $24,776.00
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
- Portfolio - April 2019 - $400,263
- Portfolio - May 2019 - $392,934
- Portfolio - June 2019 - $415,611
- Portfolio - July 2019 - $420,798
- Portfolio - August 2019 - $421,644
Do like any of the following for the latest update/post!
1. FB Page - KPO and CZM
2. Twitter - KPO and CZM
3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)
there is 10% for HSCEI component if I am not wrong BOC is one of them
ReplyDeleteHi Evilbdboi,
DeleteAre you referring to dividend withholding tax??
Posted to quickly, did not see EvilDboi wrote the same thing. Here is an article in the south china morning post explaining the tax: https://www.scmp.com/article/972570/hk-holders-h-shares-pay-10pc-dividend-tax
DeleteOh my, we didn't know that. Thanks for pointing it out! I have updated the article on the 10% withholding tax for H shares.
DeleteHi KPO! When will portfolio for September be released? Looking forward to it.
ReplyDeleteHi Unknown,
DeleteI am working on the September update now but will only schedule it to be published tomorrow. Glad to hear that!
Dividends from your bank of China holdings will be subject to 10% tax. This tax is levied by China on HK listed mainland companies. Div yield still attractive though.
ReplyDeleteHi maru,
DeleteYes, still attractive. lol. I did a quick calculation. Even with a 10% withholding tax, assuming constant dividend, the yield on cost for both CCB and BOC will be around 6%.