SRS Portfolio Update - Jan 2019

SRS Portfolio

Blogging on my SRS portfolio is frankly quite boring as the portfolio don't really change over time.

This is a screenshot from my portfolio below using the DBS internet banking log-in. You will see that the cost for Frasers Commercial Trust didn't really change but the market value went up by quite a bit. That is because i have opted for the dividend-in-scrip. On my own spreadsheet, the cost is actually higher as i accounted for dividend income and re-investment as separate items.

SRS Top-up

I have also decided to give myself a big angpow of $15,300 for CNY. As such the cash is now $29,081 and i can deploy the cash into a new or existing counter. It is important to "pay yourself first". 

Frasers Commercial Trust

Frasers Commercial Trust announced a distribution of 2.4 Singapore cents. The DPU is same as prior period and with the properties located in Australia, Singapore and United Kingdom, the depreciating AUD and GBP are not exactly instilling confidence. The share price, however, got a major boost from report that Google is in talks to rent Alexandra Technopark (will be 90% committed if anchored by Google Inc). The article is here.  

My 49,394 shares will generate a dividend of $1,185 but that will be converted into scrips at $1.4518 or equivalent to around 816 new units.

Starhill Global REIT

Starhill announced another set of disappointing results where the year on year quarter DPU decline from 1.17 cents to 1.13 cents (drop of 3.4%) The dividend will be paid on 28 Feb 2019.

I am not sure when the DPU can "turnaround" though. Last year's DPU was 4.55 cents, assuming it drops by 4%, the DPU for FY2018/19 will be 4.368 cents and that translate into a yield of 6.06% based on 72 cents trading price. Of all the counters, i don't like the trend of Starhill. If there are more attractive counters, i may "switch" over to them

Non-SRS Portfolio

Hyflux - I have decide to fully write off my Hyflux Perps position to zero. It was previously being held at 10% of its original value. I can only say that I have zero respect for Ms Olivia Lum (not that she cares about retail investors) but i feel that the relevant authorities should look into her past behaviour to determine if she has acted honorably, including the dividend in specie of Hyfluxshop. Read my thoughts on Hyflux in Feb 2018 here. 

Keppel-KBS REIT - My position in Keppel KBS Reit went through a roller-coaster ride where there were fears of tax impacting the distributions coupled with a severe rights issue. I subscribed for my full allotment and more but in the end was allocated 22,800 shares at $0.50. My weighted average cost went down from 88.8 cents to 77 cents and the price has since recovered to $0.66 (down by 13%).

Keppel KBS announced a distribution of 2.40 US cents payable on 26 March and that translate into a dividend of USD 1,747.  Assuming the 2.4 cents is annualised, the yield at 66 cents will be around 7.3%

Happy SRSing!