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Portfolio Review - FEHT, PCRT, M1, SPH, Starhill

There were a few results announced in Jan and Feb.

Far East Hospitality Trust ("FEHT")

FEHT released its "maiden" results. The press release is here.

The results was better than forecast and 2.09 cents per unit will be distributed to unit holders. The books will close on 18 Feb and the payment be made on 21 March 2013. My 5,000 units will receive about $104.50. My entry post is here. I will continue to hold this counter given the increasing tourist arrival trend. 

Perennial China Retail Trust ("PCRT")

PCRT announced its financial results for Q4 and the presentation slides is here. It intends to distribute 1.96 Singapore cents on 18 March. My 10,000 units will be entitled to $196. With the earnout arrangement in place until FY2014, i guess we are "pretty safe" for now but will have to monitor the development projects closely as they come on stream in the coming quarters. My entry post is here.


M1

M1 released its full year results in Jan. The press release was here. It proposed a cash dividend of 6.3c and special dividend of 1.7c, bringing the total dividend 8c to be paid out on 25 April. My 2,000 shares will be entitled to $160. My entry post was here. The EPS for FY 2012 was Singapore 16.1 cents and that translate into a PER of 17.3x. The counter is fairly valued but it pays out 80% of profit as dividend. The yield for FY2012 was (6.6 + 8 cents) = 14.6c translate into a yield of 5.2% at current price of $2.79.


SPH

SPH released its Q1 results. Nothing spectacular and relatively "stable". The downside is that further down the road, I am not sure if the changing habits caused by the tablets and smartphones will affect SPH adversely. This company is probably like the telcos, fairly valued but giving out stable dividends.


Starhill Global REIT

Starhill announced a DPU of 1.13 cents for the quarter ending 31 Dec 2012. The amount will be paid out on 28 Feb and my 10,000 units will receive $113. The presentation slides are here. It is encouraging to see that Starhill has been able to increase its DPU over the years.


Potential Dividend + Growth Stocks?

While big caps are relatively stable, what is probably missing from the equation is the element of "growth". As such i would like to my portfolio to have a good mix of both. Some stocks which may be worth further research on could be 2 C stocks that just released its results today. Cordlife and Courts. Tell me what you think?


4 comments:

  1. Congrats mr ipo, seems like ur portfolio doing quite well... Courts down after announcement of results, i still have lots from ipo, iuo, u think should liquidate and wait for further opportunities to get more?

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    Replies
    1. Hi, I didn't do a detailed analysis but from preliminary glance, results still decent with more stores coming on stream. If you have gotten in at IPO price, I think u are sitting on a comfortable buffer. :)

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  2. What's your view on M1? Previous results have been very stagnant, no catalyst for growth. It's severely lagging StarHub...

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  3. Hi James, I think it is expensive but saved by the yield it is offering. The decision to switch from Starhub to M1 for me was a bad one. ... :(

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