Thursday 29 February 2024

Summary of February 2024

Following my purchase of Mapletree Logistics Trust in January, I continued my purchasing in February when opportunity presented itself.
My queue for Netlink NBN Trust @ $0.84 got filled at the end of trading hours. This is an addition to existing position and an average up at that. Coincidentally, last month's purchase of MLT was also done on the 29th.
2929. Huat Ah!
This purchase price translates to a dividend yield of more than 6.2%.
Have been monitoring the market every day as usual. There was a dip in price earlier this month for majority of the counters in my watchlist - if I remember correctly, the dip lasted only for the trading hours before lunch on that particular day.
I wasn't in time to make my move then due to work. Nevertheless this week NLT presented a comfortable price for me to add and eventually I got it after queuing for two days.
This price is slightly lower than the $0.845 that Netlink NBN Management executive director and CEO paid for his purchase of 100,000 units on 16th Feb. 
Another reason is the announcement of the S$100 million investment from the government into the national broadband network upgrade.
While the details on how this will impact NLT's financials are not clear at this moment, I believe this NBN upgrade will at least stabilise NLT's profitability and provide visibility on its business outlook in the next 2 - 3 years.

This helps to allay my concern on the sustainability of NLT's dividend payout moving forward.

On a side note, next month should see some dividends coming in from various counters including MIT, MLT and CLCT. As usual, will reinvest into the portfolio to let compounding works its magic for me.

With that, till next time. Cheers.

Thursday 1 February 2024

Summary of January 2024

Blink of an eye and last day of January is here. 11 more months to end of the year. Lol..
Home. Kids have been falling sick one after another. Can't help but feel worried. On the other hand, got to find time to start on the spring cleaning. 10 more days to Lunar New Year.
Accidentally broke the handle of my metal gate recently. Damn. Didn't know a wrought iron gate handle can break so easily. Nevertheless I always believe things happen for a reason.
Taking this chance to change to digital lock for both gate and main door. Installation on next Wednesday.
Work-wise, have completed some of the projects on hand and the remaining in various stages of completion. New ones are coming in. I look forward to another great year after last year's record-breaking results.
For my sideline, most clients have came back from their holiday and income for this month is higher than projected. I look forward to another record-breaking year for this stream too.
School-wise, have finally submitted my dissertation today. That's a huge load off my shoulders. 18,000+ words, 82 pages. Don't think I have ever written such a long paper before. One of the best thing I came to realise from this Masters programme is that it re-ignited the joy of learning in me. I am even contemplating the possibility of a PhD if there is a topic that interests me enough to undergo the rigours in my 40s.
Investments-wise, made my first purchase of the year in Mapletree Logistics Trust at $1.53. MLT has released a good set of results recently of which I have written a review here.
Excluding RHT Health Trust which is going to be delisted anyway, I have 9 counters in my SGD portfolio. I am comfortable though no rush, to hold a portfolio of up to 12 counters.
Keppel Infrastructure Trust, Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are the counters being considered though each has its own areas of concern in my opinion.
Have also went through the latest results of CapitaLand China Trust and the above three counters. No time to write my thoughts on these yet. See if I can do it in the coming week.
Moving forward will continue my strategy of adding monthly using funds from my sideline and incoming dividends. Focus will be on:
1) Selected REITs whenever price weakness is present
2) Local banks which might present opportunities to add in 2H / 3Q this year when rate cuts happen, or even earlier since market is forward-looking. Stay nimble and monitor. If prices are attractive enough, would not mind deploying extra cash.
3) Non-REIT income counters as diversification
Till next time. Cheers.