Portfolio - February 2021

Time flies. Baby Ong will be 3 months old soon and we will be sending her to an infant care end of the month :'( as CZM's maternity leave will be ending in early April. Our initial plan was to send her to My First Skool which is very near our house but it seems that they are already full. In the end, we decided to send her to Josiah Montessori which is near our workplace. After going for a few infant care tours, it seems that their curriculum is one of the better ones (e.g. they teach basic sign language so that the baby can communicate with the parents even before learning how to speak) and the Teacher-Child Ratio is 1:3 as compared to ECDA guideline of 1:5. The only con is $$$.

The registration fees are crazy - $535 (non-refundable) + $990 deposit. Fortunately, they have reduced the deposit required and gave a 15% discount on the monthly fees (probably due to COVID-19). Even so, after the ECDA subsidy for working mothers, it is still going to cost us ~$1,474 per month going forward.

Compare that to My First Skool's fees - Registration is just $85.60 and the monthly fees are just ~$764 per month after subsidy. Now we can only hope that Baby Ong learns more and gets better care in Josiah Montessori while we take a step back in investing for our retirement with increasing expenses.

Our portfolio reaches another new high! It increased by 4.13% to $742,364 - $27,278.67 of capital injection (we utilized more leverage!) and $2,186.46 of capital gain. This includes $96,049 of leverage/debt (gearing ~14.86%).

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"Cash Flow" is the amount of money being injected/withdrawn from the portfolio (buying stocks = +ve cash flow while selling stocks and collecting dividends = -ve cash flow)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
- STI ETF (1,500 units) @ $2.873

- iShares Hang Seng Tech ETF (300 and 300 units) @ HK$19.58 and HK$18.77

- Mitsubishi UFJ Financial (3,000 units) @ ¥509

We bought STI ETF and iShares Hang Seng Tech ETF because there was some weakness/minor correction in the market. We are still holding some cash hoping that the market will correct more but it didn't really happen. Out of the $26k of capital injection, only ~$6k came from our cash/pocket.

We bought MUFJ using leverage after coming across this excellent analysis from InvestQuest -
The Bank That Owns 21% of Morgan Stanley. Why We’re Buying MUFG. It was the kind of stock that we like, undervalued with a relatively high and sustainable dividend yield. Our entry price could have been much lower ¥470+ if not for my RM that screwed up the account opening =.=" Regardless, we are still sitting on a good unrealized profit which is the target price specified in the article. Very impressive analysis by Peter from InvestQuest!

Anyway, the idea of using leverage is simple, borrow the money, buy a good/excellent REIT/stock, use the dividends to pay the interests, and keep the difference while ensuring that we will never get a margin call/trigger. Once again, leverage has its risk and is definitely not for everyone. We see it as our way of buying a second property without incurring any of those taxes (ABSD, rental income tax, etc.). You can take a look at this - Leverage Performance 2020. Unfortunately, we did not buy IWDA because it is at an all-time high. Yes, I am timing the market but I just couldn't help it. Unfortunately, it just keeps going higher @_@"

Given that it is a brand new year, I have adjusted my SRS contribution to $1,276 per month with the intention of maxing it by year-end. We made some changes to our monthly DCA such as closing Syfe Equity100 and the $500 has been moved/deployed to StashAway. We have also decided to open another StashAway portfolio for Baby Ong. Shall blog more about this separately.

Our Monthly DCA for January - $4,126
$1,500 Cash for ourselves - StashAway Risk Index 22%

$100 Cash for Baby Ong - StashAway Risk Index 36%

$638  KPO's SRS - StashAway Risk Index 36%

$250 CZM's SRS - StashAway Risk Index 14%

$638 KPO's SRS - Endowus Loss Tolerance -60%
$1,000 Cash - Syfe REIT+ (100% REIT)

Dividends
The total dividends collected this month is $2,562.37. The breakdown is as follows:

Company                               PayDate     Shares     Total

CDL Hospitality Trusts               26-Feb-21     1,893     $65.13

Ascott Residence Trust               26-Feb-21     23,141     $459.57

ARA LOGOS Logistics Trust       26-Feb-21     144.4     $1.18

Suntec REIT                               26-Feb-21     11,372     $257.12

Parkway Life REIT               26-Feb-21     5,031     $179.60

Soilbuild Business Space REIT    26-Feb-21     30,000     $358.20

SPH REIT                               26-Feb-21     118.58     $1.42

Ascendas India Trust               25-Feb-21     61.718     $2.58

Thai Beverage Public Co., Ltd.    25-Feb-21     20,000     $257.57

SPDR STI ETF Units               24-Feb-21     24,500     $980.00

Total dividends collected for 2021: $2,766.37
Average dividends per month for 2021: $1,383.19

StashAway

KPO

CZM

Capital: $51,526.00
Current: $‭‭‭‭63,266.19

If you are interested in StashAway, do use our referral link. You get $10,000 free management fees for 6 months and we will get $16!

If you want to extract those transactions information from StashAway, do take a look at this article - StashAway Transactions Parser.

Endowus

Capital: $12,426.00
Current: $14,461.50

Endowus has decided to extend their attractive CNY promotion to the end of March -  lowering of the minimum investment amount to just $888! Huat ah! 

To kickoff the Chinese New Year and to help people invest better from the start of the year, we will be running the following initiatives:
1. For the entire February March, we are lowering our minimum investment amount from $10,000 to $888
2. From 1 - 14 February, we have a sign-up bonus for new clients from $20 to $28

To be eligible for the $20 sign-up bonus, the prospective clients have to:
1. Be a new Endowus client
2. Create an account before the end of March (leave an email and password on our website) using a referral or affiliate link
3. Fund their account with $888 before the end of March

If you are interested in Endowus, do use our referral link for our readers! You will get S$10,000 managed free for 6 months ($20 equivalent) and we will get $20 too! This access fee has no expiry date.

Syfe

Capital: $13,700.00
Current: $‭‭‭15,507.93

New Syfe customers will have their first $30,000 managed free for 6 months when they use our new referral code (KPOCZM). We will be receiving a $10 cash incentive for our portfolio if you invest $500 or more.

If you want to extract those transactions information from Syfe, do take a look at this article - Syfe Transactions Parser.

You might be interested in these blog posts too:
- 2020 Net Worth

- Leverage Performance 2020

- Portfolio - December 2020 - $669,630

- Portfolio - January 2021 - $712,898

- Portfolio - February 2021 - $742,364

Do like any of the following for the latest update/post!
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4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right --> Unfortunately, you can't see it on mobile.)

Portfolio - June 2018

It has been a while since I blogged. My time has been taken up by wedding preparation + mostly the World Cup (I have been watching almost every 8/10pm matches). Nope, I did not bet on any of the matches, just enjoying the game and drama every 4 years. Hahahaha. On a side note, it will be < 100 days to our wedding! Like those days when the students would countdown to PSLE/O-level.

Our portfolio decrease by -0.19% to $333,410 - $11,544.89 of capital injection and $12,190.54 of capital loss.

SOLD
- None

BOUGHT
- Frasers L&I Trust (2,200 units) @ $0.967
- Capitaland (1,000 units) @ $3.480
- Capitaland (1,000 units) @ $3.330

- STI ETF (1,000 units) @ $3.380

- Lion-Philip S-REIT ETF (1,000 units) @ $0.975

We bought 1,000 units of STI ETF when the market was down and bought 1,000 units of Lion-Philip S-REIT ETF as part of our new strategy - New Singapore Budget, New REIT Strategy!

I blogged about Frasers Logistics & Industrial Trust Preferential Offering previously. I had 800 rights, oversubscribed for it and was given 1,400 more.

Capitaland was doing share buy-back since 4 June at $3.5X and we thought we managed to undercut them at $3.33 until we got undercut by the market. lol. Technically, the fundamentals are still the same and only the market price has changed/declined.

On a side note, the STI has fallen more than 10% since the high of 3,600+ on 2nd May 2018 for whatever reasons - Trump's tweet, trade war, flattening yield curve, etc. No idea what is going to happen in the near-term but there will always be opportunities if you dare. Hahahaha.

Dividends
The total dividends collected this month is $220. The breakdown is as follows:

Company	Symbol	ExDate	Shares	Total
Accordia Golf Trust	ADQU	08-Jun-18	10,000	$220.00

Total dividends collected for 2018: $6,985.11
Average dividends per month for 2018: $1,164.18

StashAway

Capital: $9,000.00
Current: $9,203.59 (IRR: 5.3%)

Health - KPO Needs to Lose Weight
I will not be updating this going forward as I have achieved my goal!

I have lost > 15kg in ~9 months and am now in the healthy BMI range :)

Do like any of the following for the latest update/post!
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3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right -->)

Portfolio - April 2018 + What is Ezion W230416?

Happy Labour Day everyone! This week will be a very short week for those people that took Monday off :) Our portfolio increase by 4.01% to $336,021 - $7,767.24 of capital injection and $5,180.91 of capital gain.

SOLD
- Ezion (9,900 units) @ 0.225

I blogged about it last week - Ezion - Bleeding Stopped! In short, I am really glad that I sold it off on day 1. My total capital was $6,167.70 and I manage to get back $2,222.26 after ~ 4 years. I lost in total $3,939.30 including commisions which translate to a total loss of -63.9% and an annualized loss of -37.9%!

BOUGHT
- STI ETF (1,000 units) @ $3.40
- Lion-Philip S-REIT ETF (1,000 units) @ $1.006
- Parkway Life REIT (2,000 units) @ $2.78
- Ezion W230416 (5,940 units) @ $0

We bought 1,000 units of STI ETF when the market was throwing a tantrum early April and bought 1,000 units of Lion-Philip S-REIT ETF as part of our new strategy - New Singapore Budget, New REIT Strategy!

I blogged about the possibility of using leverage to increase our return - Leverage - A Double-Edged Sword. The initial plan was to use it to purchase a relatively stable stock giving 5% dividend, use the dividend to pay off the cost of borrowing/interest at 3% and earn the difference. That relatively stable stock is Parkway Life REIT. Having said that, we have yet to use any leverage because we still have money "idling" in our bank account.

Using the above illustration, it makes sense for us to "borrow" from ourselves (KPO Expense Fund) instead of borrowing from the bank. I know it may sound complicated/illogical to some of you but that is how we are managing our money. You can read more about it here - Managing Finances As A Couple.

Last but not least, there is Ezion W230416. As much as I would like to get rid of Ezion totally, it continues to haunt me. So what is W230416? It is a warrant/baby share which allows the shareholder to convert the warrant/baby share into the actual share/mother share before the specified expiry time at the specified conversion price. There are many reasons why a company would issue warrants but I will not get into that.

As you can see, Ezion issued 3 warrants for every 5 shares, the exercise price is $0.2487 and the expiry date is 5 years later on 2023-04-16 (derived from the warrant name). I had 9,900 shares before it was suspended so I was allocated 5,940 warrants (9,900 / 5 x 3) for being a loyal shareholder who did not sell the shares from 8th August 2017 to 16th April 2018. You can refer to this for more information.

Unfortunately, this warrant is not listed and cannot be traded/transferred unlike W200424 which is listed as BSHW with an exercise price of $0.50. Based on the current price of $0.121, both warrants are useless/worthless now because no one in the right mind will pay more to exercise/convert them to actual shares. Having said that, W230416 could be a sign that the management is confident that Ezion's business will recover and the share price will be higher than $0.2487 by 2023. However, existing shareholders do be prepared to be "diluted" in the event when Ezion's share price rise above these 2 exercise price (although I highly doubt that it will happen).

Dividends
The total dividends collected this month is $546.04. The breakdown is as follows:

Company	Symbol	ExDate	Shares	Total
CapitaLand Mall Trust	C38U	26-Apr-18	7,000	$194.60
First Real Estate Investment Trust	AW9U	23-Apr-18	7,109	$152.84
Soilbuild Business Space REIT	SV3U	20-Apr-18	15,000	$198.60

Total dividends collected for 2018: $2,697.52
Average dividends per month for 2018: $674.38

StashAway

Capital: $7,000.00
Current: $6,956.62 (IRR: -1.5%)

Health - KPO Needs to Lose Weight
Date: 2018-05-01
Weight: 72.4 kg (Gain weight! It seems that I have hit a plateau/natural weight of ~71-72++)

BMI: 24.1

Do like any of the following for the latest update/post!
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3. Click here to subscribe using email :)
4. Instagram - KPO_and_CZM (Did you see those delicious food photos to the right -->)

Portfolio Update - February 2018

Our portfolio decrease by 0.95% to $314,586 - $7,789.56 of capital injection and $10,810.46 of  capital reduction.

The month ended better than expected, it was definitely much worst before CNY - Red Red Market for Chinese New Year!

SOLD
- None

No need to panic sell!

BOUGHT
- Sheng Siong (2,000 units) @ $0.925
- STI ETF (1,000 units) @ $3.40
- Lion-Philip S-REIT ETF (3,000 units) @ $1.016
- First REIT (109 units) @ $1.3656

Sheng Siong has been one of CZM all-time favorite stock as it is defensive in nature. Regardless of how the economy is doing, we still need food and daily necessities to survive. We last bought Sheng Siong in August 2017 and that was around the time Amazon entered our market. It is evident that the increased competition online did not have much of an impact in Sheng Siong FY 2017 result with EPS increasing by 11.3%! The older generations are still more resistant towards getting grocery online (they think it is not fresh). Having said that, the lack of an online presence is a concern as we have seen how technology has disrupted what used to be a solid cash business such as SPH and Comfort Delgro. Let's see how it goes.

We bought some way overdue STI ETF during the dip/correction. The last time we bought it was in September 2017 @ $3.27 and before that was March 2017 @ $3.14. As you can see, we are not buying it every quarter despite it being one of our goals. It is difficult to DCA without a proper system because when you see the price going higher, you will not want to pay more for the same stuff. You will wait and see/hope that the price drops slightly...

The Singapore Budget 2018 was announced this month and while everyone is talking about the increase in GST, we prefer to talk about the tax transparency that was extended to REIT ETF - New Singapore Budget, New REIT Strategy! With that, we will be making another attempt to do DCA in Lion-Philip S-REIT ETF on a monthly basis.

First REIT had a DRIP (Dividend Re-Investment Plan) where investors can choose to take the cash dividends or take the shares at a discounted rate of $1.3656 (not so much of a discount if we look at it now). The cons of participating in DRIP is that you will almost always end up with odd lots but one can reinvest the dividends efficiently without commission.

Dividends
February is one of my favorite month! The total dividends collected this month is $1,386.78. The breakdown is as follows:

Company	Symbol	ExDate	Shares	Total
Far East Hospitality Trust	Q5T	22-Feb-18	10,156	$98.51
Singapore Post Ltd	S08	9-Feb-18	7,000	$35.00
Thai Beverage Public Co Ltd	Y92	8-Feb-18	6,000	$106.29
OUE Commercial Real Estate Investment Trust	TS0U	6-Feb-18	8,000	$183.20
Starhill Global Real Estate Investment Trust	P40U	2-Feb-18	12,000	$140.40
Ascott Residence Trust	A68U	1-Feb-18	7,600	$283.48
SPDR STI ETF Units	ES3	1-Feb-18	10,000	$530.00

Total dividends collected for 2018: $2,019.83
Average dividends per month for 2018: $1,009.92

StashAway

Capital: $5,000
Current: $4,968.91 (IRR: -1.4%)

The UI is slightly misleading, showing green when it is losing money. lol.

Health - KPO Needs to Lose Weight
Date: 2018-03-02
Weight: 72.0 kg (The effect of CNY... Put on weight for the first time.)

BMI: 24.0

Do like any of the following for the latest update/post!
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3. Click here to subscribe using email :)

Red Red Market for Chinese New Year!

Let KPO start by wishing all my readers a Happy and Healthy Chinese New Year! 恭喜发财，身体健康！Huat ah!

It has been 2 weeks since I last blogged! CZM (being one of my readers) reminded me that it has been a long time! What have I been doing for the past few weeks? Busy playing Monster Hunter World! Hahahaha. I am currently at HR (Hunter Rank) 52 and have clocked > 80 hours of gameplay till date. Shall stop here, CZM is already complaining she has lost her bf.

Apart from gaming, I am also busy preparing my wedding video speech for our parents (it is so hard to write mushy stuff in Chinese). To save money, I will be making all the wedding videos! We will also do without actual day videography since we are keeping things as simple as possible such as no gate crashing and everything (fetching the bride and tea ceremony) will be done at the hotel! Contemplating if we should be renting a wedding car on the actual day...

The last 2 weeks, all the markets were in red and I received FB messages and emails asking what to do, etc. My reply to them is the same, we are not doing anything and there will definitely be volatility in the markets. Technically, we did something, we bought 1,000 units of STI ETF @ $3.40 and was queuing for Singtel last week but did not get it. We are using money which we do not need in the near future to invest and we are prepared even if the market crashes and our portfolio drops 50%. The last 3 weeks, we have seen our portfolio decreased by $17,158.59 but life goes on :) Numbers are relative right, what is our loss compared to theirs - These 10 Billionaires Lost $40 Billion This Week As Stocks Plunged.

One can argue that protecting the capital is important, a drop of 50% would require a 100% gain to break even, etc. Honestly, who knows what is going to happen? There are studies that show missing out one of the good days can be just as painful - Cost of Missing 10 Best Days. At the end of the day, there are really no right/wrong/best financial decisions. Make one and live with it. We are investing for dividends, hence we are not too concern with the ups and downs of the market.

My dad recently received the "Retirement" letter from CPF informing him that he can withdraw his CPF money soon. If you are interested, you can find it here - CPF Retirement Booklet. As usual, he would ask me to explain what is happening and I told him that the government is giving him money, $5,000.65 to be exact. He was pretty happy and was saying that our government is good. To put it into context, my dad has been working in Malaysia for many years and is currently a taxi driver. As a result, he does not have much in his CPF, ~$6k+. He is probably one of the rare ones that can get close to 100% out! Today, the government announced that the GST will be increased to 9%, he said government not good. lol. I have not been following it closely but came across the condensed version by Seedly which I thought is pretty neat - Seedly Singapore Budget 2018.

Danger danger! New readers/investors, please do not follow or read further! As you might be aware, we are pretty aggressive in building wealth and we do not really have an emergency fund or a "war chest". We are exploring the possibility of using leverage to 1. further build wealth and 2. serve as our "war chest". People investing in properties and companies raising debts are all forms of using debts to grow wealth/assets. So what is stopping us from doing the same? We are looking at Standard Chartered Secured Wealth Lending specifically since our investment is with them. We were quoted a fixed rate of 1.6% + 1-month SIBOR (which has been increasing!). I guess this can be a separate post itself.

Back to MHW!

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Portfolio Update - September 2017

Our portfolio grew by 0.58% to $268,305 - $3,263.93 of capital injection which was partially offset by market moving against us, -$1,723.93! At one glance, the decrease can be mainly attributed to Soilbuild REIT (-$750), Guocoland (-$720) and Capitaland (-$560).

SOLD
- Lippo Malls Trust (4,000 units) @ $0.44 (PnL: $611.81)

Lippo Malls Trust is one of my "legacy" stocks which I have been holding for about 3 years (first purchased on 27-05-2014, back in my university days). If I remembered correctly, I bought it because it had a high dividend yield. lol. Anyway, Heartland Boy wrote an excellent piece on what is going to happen to it - Why Heartland Boy Sold Off Lippo REIT. In short, income support will be ending/ended + negative retail rental reversion will result in DPU dropping and the price will follow suit.

Looking at the above "Closed Details" computed by StocksCafe, the annualized gain is 11.9%. Not too bad ;)

BOUGHT

- SingHoldings (4,400 units) @ $0.395
- STI ETF (1,000 units) @ $3.27

Using the money from the sale of Lippo Malls Trust, I redeployed the capital to SingHoldings. It has a NAV of $0.6375 which is a 38% discount from my entry price. Most of the property/construction stocks have already ran up and this is slightly slower. Assuming if it were to trade at the industry average PB of 0.7585, the price would be around $0.48.

We are supposed to buy 1,000 units of STI ETF every quarter and it was about time.

The total dividends collected this month is $484.72. The breakdown is as follows:

Company	Symbol	ExDate	Shares	Total
Asian Pay Television Trust	S7OU	18-Sep-17	5,000	$81.25
Saizen Real Estate Investment Trust	T8JU	15-Sep-17	8,900	$303.47
OUE Ltd	LJ3	15-Sep-17	10,000	$100

Total dividends collected for 2017: $8,526.92
Average dividends per month for 2017: $710.58

StashAway
Capital: $1,500
Current: $1,503.52 (0.002%)

I forgot to transfer on 2017-09-25 during our vacation and only transferred $500 to StashAway on 2017-10-01. You can refer to the spreadsheet - KPO & CZM StashAway Portfolio VS STI ETF to follow our simulated STI ETF portfolio (opportunity cost of investing using StashAway). Only time will tell which is the better investment...

Health - KPO Needs to Lose Weight
Date: 2017-10-01
Weight: 80.4 kg
BMI: 26.8