Monday, 5 March 2018

Jan and Feb 2018 Updates


Received the first round of dividends for this year as follows.

SingTel dividends S$490

Suntec dividends S$104.16

CCT dividends S$164

Viva dividends S$92.85

MLT dividends S$152.42

Total dividends received: S$1,003.43.


Just closed the accounts for my new company after venturing out on my own last year. Managed to achieve ROI within the first year of operations. Shall continue to work harder to grow the business.

Wednesday, 21 February 2018

Happy Lunar New Year 2018

To all readers, here's wishing you and your family a very Happy and Prosperous Chinese New Year. May you and your loved ones stay Healthy and Happy always!

Those with the dog zodiac sign are not having the best of luck this year apparently. And I'm one old doggie too. Luckily I don't believe too much in the zodiacs.

To all fellow doggies I wish you the best of luck. For myself I look forward to another fruitful year ahead.

Woof woof.

Tuesday, 20 February 2018

Portfolio Review: Suntec REIT

Suntec turned in a respectable overall set of FY2017 results amidst a challenging year in terms of retail.


Gross revenue up by 7.8%
Net Property income up by 8.9%
Distributable income up by 3.7%

Latest dividend yield based on my bought price is around 6%.

In terms of office space, Suntec has done well particularly from their 2016 acquisition, 177 Pacific Highway.

However their retail segment continues to be weak. Revenue contribution from the retail space dropped last year.

Will I continue to hold? Yes.
Will I add more? Maybe.

Friday, 2 February 2018

How Do I See the Possible Merger of ESR-Reit and Viva Industrial Trust

Although the combined entity will be the 4th largest industrial REIT by asset value and 5th largest by market cap in Singapore, I hope the deal doesn't materialise.

The figures above sure look impressive.

However in my opinion the future outlook, portfolio quality and the performance of the REIT management are equally, if not more important.

Take a look at the following table.

Gross revenue, NPI and DPU have been decreasing Y-o-Y for ESR whereas that of Viva Industrial Trust (VIT) have grown Y-o-Y. This is a testament of the REIT's manager strength.

Apart from the WALE and occupancy rate which are higher, ESR is going to be a drag on VIT.

Numbers don't lie. Though in some cases they do tell a different story. For example, the REIT's rental reversion depends on what type of leases they take into account. But this is topic for another day.

Since we are at rental reversion, let's look at the negative rental reversion of ESR and think about how this will impact the REIT price performance and dividend payout.

In the most direct manner, the DPU will be negatively affected going forward. The overall value of the REIT portfolio will also be negatively impacted since the collective value of the assets will go down.

Comparing to ESR, I would say VIT performed much more admirably. Whether it's the distribution yield, revenue, NPI or rental reversion.

I also prefer the portfolio of VIT more than that of ESR. Except for 7000 AMK, the rest of the latter's portfolio doesn't conjure any excitement in me when I glanced through.

On the contrary I prefer the outlook for the two crown jewels of VIT: Viva Business Park and UE BizHub East.

Having said that, I do see something interesting for ESR with the Tuas mega port coming up in 2040.

ESR has a number of properties in Tuas among which one of them was acquired last year with 36 years remaining land lease.

If they can position themselves to make use of the mega port development, it should change the dynamics for them.

In summary unless there's something very positive that I missed out in ESR, I hope the deal doesn't goes through.

Thursday, 1 February 2018

Portfolio Review: Viva Industrial Trust

Managed to find time to review the performance of my holdings.

For Viva Industrial Trust (VIT), the FY2017 results are nothing short of stunning and vindicated my decision to pay a premium to purchase the units three months ago.

The glowing result is mainly contributed by the post-AEI Viva Business Park and the logistics property at 6 Chin Bee Avenue. UE BizHub East also shows marginal increase in revenue contribution.

The following slides show it all.

In a span of one year (2016 end - 2017 end), share price of VIT ran up from S$0.755 to S$0.94. An increase of nearly 20 cents. This is justifiable.

As an income investor, one of the criteria I look out for when adding a stock into my long term portfolio is the dividend payout. In this aspect VIT remains one of the best among the industrial REITs.

I do have a concern regarding the WALE of 2.6 years though I won't be losing sleep over this as VIT is doing quite well in terms of tenancy retention. However this shall be a point of monitoring for me.

Fundamentally, VIT remains solid. Outlook in my opinion, is looking good especially for both business parks.

Will I continue to keep VIT in my portfolio? Absolutely.

Will I add more? Yes.

Now comes the golden question. How do I see the possible merger of ESR and VIT?

I will answer this in the next post since the reply will not be a short one.

Monday, 29 January 2018

Giant Has Done It Again

Around 2 weeks ago I wrote a post about some money-saving tips among which one of them is to always check your bill.

Subsequently 4 days after the post, I followed up with a comment after I discovered that Giant Hypermarket at Tampines has overcharged on an item that I have purchased.

Well, they have done it again. This time it was at Giant supermarket, Loyang Point. They have again overcharged me on one of the items purchased.

And apparently my family members have also encountered this issue at Giant supermarkets before.

Now these are not the first instances from Giant. The first time was some years back though I can't remember the amount anymore.

For the latest two instances, the amounts overcharged are 25 cents and 30 cents respectively.

These are small amounts. But if you multiply that by the number of customers who overpaid unknowingly, Giant would have made a handsome profit over the years.

It is easy to overlook the wrong charges on a bill especially if you have several purchases in the receipt.

However I urged all readers to take some time to check through your bill after shopping.

Who knows how much you might save over the years.

Wednesday, 24 January 2018

Update on My Healthy Living

This is a follow up to this post written last year. Surprisingly I have ran marginally more in 2017 than I did in 2016.

Surprise, because I felt that I wasn't as disciplined as in 2016 and some of my workouts were replaced with swims in 2017.

Nevertheless the total mileage is still far from my target. Hopefully in 2018 I can clocked at least 480 km by year end. That's a modest target that translate to 10 km a week. Not too much but better than last year.

On the dietary side, I have stopped my low carb / no carb week days dinner. Simply because it's hard to think of a good variety of meals that can fulfill this criteria. Most importantly, there's too much temptation in Singapore!