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Posted on

RafflesMed @ $1.21

Buy @ $1.21

Prices continue to drop… 1H Results was flat, Div = 0.5ct maintained… Debts higher, Cash lower… Projects ongoing, with Extension to be completed in Q4… Earliest likely next year before any improvement in earnings… 😀

Posted on

M1 @ $2.07

Buy @ $2.07

Not sure if it’s the news that MyRepublic has no intention to bid for M1 cum plans to launch Cirlces.Life-like mobile plans by year end that’s causing further drops in M1 share price… Then again, any offer will more likely come from those with deeper pockets eg. China TELCOs… 😀

Posted on

M1 @ $2.15

Buy @ $2.15

Buy back.. Another for Q2 Yield Rotation Play… 1H Div = 7ct for FY14-FY16 but chances are high that it’ll be lower this year due to weaker EPS from 2H16 and likely FCF, due to new Spectrum bid… I’m guessing it’ll be 5-6ct, altho’ it may be lower if they turn conservative for 1H, paying more only in 2H, if FCF permits… Still, there’s the potential G.O. still lingering in the background… altho’ it looks like mkt is getting nervous it’s not going to happen, with time… 😀

Posted on

SGX @ $7.31

Buy @ $7.31

Add back to my portfolio… Yield Rotation Play for Q4 results.. Dividend for FY13 – FY16 had been maintained at 28ct, chances are high FY17 will be the same ie Q4 Div = 13ct… Note that EPS for FY17 will likely (unless Q4 hit 8.8ct) be lower than FY15 & FY16 = 32.6ct , but not likely to be lower than FY14 = 30ct (only if Q4 plunge to 6.2ct) … 😀

Posted on

Portfolio – Q217

My portfolio (at cost) of S’pore stocks for Q217 close,

% Holding

Stocks

Total

> 5%

Raffles Medical

70.8%

  

Kep Infra Tr

  

  

Frasers Com Tr

  

  

KingsmenCreative

  

  

M1

  

  

King Wan

  

  

SingPost

  

< 5%

F & N

15.7%

  

Genting Sing

  

  

Starhub

  

Cash

  

13.4%

Note : Stocks are arranged in descending order of % holdings

 
Summary
The STI closed at 3,226.48, +12% from end 2016. Using cost as a reference, my portfolio stats (vs 2016),

  • Size (Stocks Only) : +4.71% (Cost) / +11.6% (Market Value)
  • Portfolio Performance (Includes Cash) vs End-2016 Mkt Value : 3.8% (Unrealised) + 0.52% (Realised) + 1.69% (Div) = +6.02%
  • Further Breakdown of Realised P&L : +0.34% (Stocks Bought before 2017) + 0.19% (Stocks Bought in 2017)

So, +6.02% vs +12% (STI), half the performance of STI!

For Q2, I continued to reduce my transaction volume. Many of my old favourites (Yieldstocks & REITs) are facing declining profits and despite lower prices, the Risk-Reward do not look attractive yet. Further, with STI hitting higher and not seeing the same for our economy, I continue to stay on the defensive.

For Q3, I plan to continue with my defensive approach and continue to sell into strength. My longer term hold counters continue to be KIT, FCOT and RafflesMed. REITs have done well in 2017 and I may be looking at some of the laggards eg CMT, SPHREIT, bearing in mind there must be a reason why they are lagging the rest eg. non-Growth.

Portfolio Changes (vs Q416)

  • New Additions : —
  • Increases : RafflesMed
  • Decreases : FCOT, M1
  • No Change : SingPost, Kingsmen, King Wan, F&N, Genting, Starhub, KIT
  • No More : —

Exchange Rates (for Q217)

  • IDR (Indonesia Rupiah) -1.7% : LMIR – Continued to weaken, -3.96% for the year
  • AUD (Australia $) -1.2% : AusNet, A-HTrust, Singtel, FLT – Still +1% for the year
  • JPY (Japanese Yen) -1.86% : Weakened for Q2, -1.36% for the year. LDP losing seats, politically not as stable. But, CRT just rx G.O.

Posted on

M1 @ $2.19

Sell @ $2.19

Contra off… Fears of 4th TELCO competition and hi-CAPEX + Spectrum eroding FCF remains… Take profit whenever possible… 😀