In the last 2 weeks, I continued to load up on HK shares and took profit on US shares. All these took place in the midst of Hang Seng index dropping 5% and S&P500 and Nasdaq gaining 4% over the same period. In the process, I added new HK stocks like Kuaishou, Tencent and AAC Technology into my portfolio. I hope the HK would bounce back soon. My overseas equity exposure is now 27.9%.
I did not trade much in Singapore market as the STI index did not move much. But there were definitely NO lack of interesting activities in our local scene in the last 2 weeks.
- I subscribed for the rights issue of I-Reit and Olam and managed to get excess shares for both of them. As the shares were issued at a discount price, I managed to lower my cost price, which is always good for long term investment. In the process, I-Reit has climbed up the ranking table to become my biggest equity holding now.
- MAS has removed the constraint to banks’ dividend and immediately our three local banks increased their dividends distribution back to the previous level. At current level, their dividend yield is almost 4% now. For those who have bought the bank shares at the lower price, your yield would have been a lot higher. Congratulations to all bank shareholders (including myself). It is always wonderful to receive more dividends from solid companies!
- Keppel’s proposed acquisition of SPH must be a welcoming news for SPH shareholders who are looking for an exit. That includes me. However, it did little to move the share prices of both Keppel and SPH. In fact, Keppel share price was more buoyed by an earlier news that Sembmarine may merge with Keppel offshore and marine business. Well, let’s wait and see how these corporate activities of these Temasek linked companies would unfold. Looking forward, I am thinking whether Starhub could be the next acquisition target of Keppel to strength its M1 business and whether ComfortDelgro would start taking in previous SMRT assets now owned by the government.
- We also have the announcement of ESR Cayman acquiring ARA Asset Management today and it remains to be seen what is the end game envisaged by ESR Cayman of all the Sreits under their charge going forward.
So lots of news but sadly no major upward movement of their share prices
Meanwhile, by end of yesterday, my Top-10 equities holding was looking like the following table : (I have also included the Top-10 in March 2021 and Aug 2020 as reference to appreciate the changes over time)
|4||Suntec Reit||Ascendas Reit||OCBC|
|5||Singtel||Suntec Reit||OUE Com Reit|
|6||UOB||OUE Com Trust||UOB|
|7||Keppel DC Reit||Manulife Reit||MapleTree Com Reit|
|8||OCBC||Netlink Trust||Manulife Reit|
|9||OUE Com Reit||I-Reit||Olam|
|10||Netlink Trust||MapleTree Ind. Trust||Ascendas Reit|
Like I mentioned earlier, I-Reit has made a major leap to #1 position following the recent rights issue. Ascendas Reit has also advanced. Except for Fraser Property and Keppel DC Reit which are new entrants, the rest are considered the usual Top-10 residents and trade places among themselves.
Frasers Property at #3 is a surprise for me. I must have accumulated quite a fair bit unintentionally along the way in the last few months. On the other hand, Keppel DC Reit is no surprise. I have accumulated it on purpose after its share price has dropped drastically.
Of these Top10, 5 are Reits, 2 are Banks, 1 Business Trust, 1 Telco and 1 Business Trust.
I am happy to see the consistency in the Top-10 holdings – showing some maturity in my portfolio
Till next time, take care and stay safe folks.