Denver’s Portfolio

 Added 1000 shares of prime at 0.755 lowering g cost to 0.78. Now at 0.755 based on last year dpu of 0.068 it is trading at 9%. Based on 0.068, my yield on cost will be 8.7%. Just checked the latest reports, the latest acquisition should contribute in 2021H2 so the dpu should be higher. Prime also has 70-80 percent of debt fixed and the term for the debt is 4-5 years and the borrowing cost is at 2.7%. 

 Bought 600 shares of MINT at 2.53, lowering my cost to 2.606. The latest Q3 results is very impressive, yoy and QoQ dpu growth. Tdy mint drop around 3-4 percent, it such a steal for me since now based on Q3 dpu is 5.5%. At FY2020 DPU of 12.55 it will be 4.96% /4.81% At 2021Q1 DPU of 0.0335 it will be 5.29% / 5.14% At 2021 Q2 DPU of 0.0347 it will be 5.48% / 5.33% At 2021 Q3 DPU of 0.0349 it will be 5.51%/ 5.35% Now my cash is just nice around 20%. Looking to add more ASCENDAS and fct but will have to wait for a while for my cash to replenish.

 Just bought 10000 shares of hock Lian seng at 0.27. Spending the last $2700 of the $3800 of cash from selling kf KOUFU.  Hock Lian seng including the latest contracts won had around 100 million of backlog. Taking a conservative margin of 8% that will be a 80 million profit over the next few years.  Last 2021 1H earn around net profit of 8 million eps of 0.016 At 2017fy net profit is 17 million trading at around 33 cents, with 2021 estimated net profit of 16 million should be trading at more than 30 cents. Expected to get at least 0.018 cents of dividends which will be around 6.66% yield for my cost. Currently with 50 plus million cash on hand that’s around 14 cents of cash per share. Basically paying 10 plus cents for the engineering and property business. If based on my estimated eps of 0.032 for 2021 I am basically paying less than 10 PE. 

Bought 400 shares of MINT at 2.61, lowering my cost to 2.64 At FY2020 DPU of 12.55 it will be 4.81% /4.75% At 2021Q1 DPU of 0.0335 it will be 5.13% / 5.08% At 2021 Q2 DPU of 0.0347 it will be 5.32% / 5.26% MINT now is my biggest holding. Reits is more than 60% of my port which resulted a big drop ytd. At most I can only add 1 more tranche of MINT due to the size of it in my port. If MINT reaches Low 2.5s I might be tempted to add my last bullet on it. Other reits such as Ascendas, MLT, FCT are also trading at attractive prices, I would like to add more of them soon. However, I am around 33 percent cash now, I would like to keep cash at around 30% to cater to any possible correction in  year 2022.