SRS Portfolio - 2 Sep 2023 + Refinance your home loan

My floating-rate home loan lock-in period expired this year.

I was exploring how to use my CPF to pay off the existing home loan and I realised that it was super troublesome even if I get a lawyer and there are many hoops to jump through. 

So lesson learnt - never pay off the amount drawn from CPF in full. I regret ignoring my lawyer's advice to keep a $1 balance there. It will come in handy when you want to reactivate CPF repayment. 

Anyway, I decided to refinance my existing home loan to a fixed rate for two years instead. 

I don't think the floating rate will "crash" in the next 24 months. That brings my mortgage rate from 4.34% 3M SORA to 3.2% Fixed and that shaved 1.14% off immediately 🔆

I then re-activate my CPF investment plan to invest into 6M T bills and was allocated in full at 3.7%,  making an "arbitrage" difference of 0.5% 😂 and not having to worry about paying back the home loan with interest in the future. Turns out to be a good thing in hindsight.

Allotted in full for Sep 6M T bills

SRS Portfolio 

SRSPortfolio as of 2 Sep 2023

Since my last update, I received $869.50 from Suntec as well interest of $5.37, resulting in a bank balance of $110,360.49

With regards to the portfolio, let me summarised as follows:

• Distributions in Sep from AIMS, Daiwa House Logistics Trust 
• Distributions from UMS Holdings (1.2 cents per share) in October.

Daiwa House Logistics Trust - hit 100% occupancy rate in July 2023 (from 98.6% in June 2023)

Frasers Centrepoint Trust - Announced the divestment of Changi City Point. Sale proceeds is above carry value and it will be used to pay down the loans to lower the leverage. The identity of the buyer wasn't disclosed though.

UMS Holdings - Post its strong results announcement in Aug and buoyant outlook, the share price hit a 6 month high of $1.25. They announced a new customer win that will utilise the production ramped up from its Penang facilities.

Suntec - Gordan Tang (from Sing Haiyi) became a substantial shareholder. Let's see if he is up to something

Strong Mandate for Pineapple 🍍

My predictions were way off. It was in the end a walkover with Tharman getting 70% of the votes and Tan Kin Lian managed to get more than 12.5% of the votes.

Let's wish Mr. Tharman all the best as he becomes our head of state and has the wisdom to bring Singapore to a whole new level globally. 

Majulah Singapura! 🍍🍍🍍