Monthly Update – June 2018

Shared Portfolio (@ first Sunday of July 2018): Sold: Enbridge Inc Bought: SingTel, CapitaLand Mall Trust Dividends Collected (this month): SGD $37.78 - Portfolio Commentary: The portfolio is inching towards the goal of reducing floating funds to less than 10% of the total asset value. I've sold off all the minor holdings of US shares … Continue reading Monthly Update – June 2018

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Investment Thesis – Ascendas REIT (SGX:A17U) Financials

(The "Understanding the Business" segment will be put in a future SWOT analysis post) Net Property Income (NPI) and Distributable Income Positive growth over last 5 years for all metrics. Distribution Per Unit (DPU) Consistent growth over last 8 years. Huge fall in DPU during 2007 Recession. Property Yield (Cap Rate) Target between 5% - … Continue reading Investment Thesis – Ascendas REIT (SGX:A17U) Financials

Misc – Share prices in SGX saw red on Thursday

Unexpected rate hike by the Fed "reawakened fears of capital outflow from emerging markets" (possibly the main reason for the price correction that S-REITs saw on Thursday) Trump has "approved tariffs on Chinese goods worth $50b" and the deadline for "US to unveil the list of Chinese goods to be hit with higher tariffs" is … Continue reading Misc – Share prices in SGX saw red on Thursday

Investment Thesis – Lippo Malls Indonesia Retail Trust (SGX:D5IU)

Understanding the business Lippo Malls Indonesia Retail Trust (LMIRT) is a retail Real Estate Investment Trust (REIT) with properties in Indonesia. As of this writing, LMIRT has a portfolio of 30 properties (23 malls and 7 retail spaces) with a combined S$1.9billion valuation. LMIRT is diversified across 3363 tenants and has maintained their occupancy rate … Continue reading Investment Thesis – Lippo Malls Indonesia Retail Trust (SGX:D5IU)

Reflections – My valuations methodology

Currently, my valuation of SingTel is based on assumptions of 3 variables: expected growth rate (next 4 years), expected terminal growth rate, and cost of equity. In that analysis, the expected growth rate of SingTel was based off of SingTel's past growth rates. The problem with such an analysis is that there is a high … Continue reading Reflections – My valuations methodology

Monthly Update – May 2018

Shared Portfolio (@ first Sunday of June 2018): Sold: STAG, OHI, LTC, Realty Income Bought: SingTel Dividends Collected (this month): SGD $67.34 (based on exchange rate 1.3366, USD50.38) - Comments: Note that given my investment strategy, the actual day-to-day fluctations of stock prices have little impact on the value of the portfolio. Instead, I urge … Continue reading Monthly Update – May 2018