Denver’s Portfolio

 Just added 500 more shares of CMT at $1.91. Average cost will be $1.87. Based on buy price of CMT at 1.91 PB is 0.95 as book value of $2.01.  Merger of cmt m and cct is ongoing. Latest results from cct show that there’s around 10 percent down in net property income last quarter compare to last year. Results still looks strong, there are more footfalls at cmt Malls based on observation. There are many chinese companies setting headquarters in SG there would be a catalyst for SG prime district office. I think I have accumulated enough of CMT will be looking to accumulate other companies. For now, just going to sit tight and watch the merger of CICT, there should be more growth incoming.

 Bought 1000 shares of CMT at $1.85 per share. This is my first blue chip reit. 2nd quarter dpu of 2.11 cents, this is after giving out rental rebates due to the closure of many retail stalls during CB. Currently crowd has been slowly recovering, I think the worst for retail reit is over. Assume 2.11cents as the dpu for each quarter, the yield on my purchase is 4.5% and the PB based on 2.01 is 0.92 PB. Book value decreases due to the valuation of the assets went down, assets should slowly appreciate as time goes buy. Potential merger of CMT and CCT, the merger will allows the combined entities CICT to be the largest reit in SG. Looking forward to that, I dun think wfh will be a norm forever, commercial should still be okay.

Just added another 2000 shares of Koufu at 0.685. Koufu just did an acquisition and the eps after acquisition is 0.0543. At the price of 0.685, the PE is around 12.6. Personally, I expected Koufu business to be affected by covid 19 since some of the foodcourts are in industrial area, schools and tourist attractions such as Marina Bay. Catalyst The new acquisition will help Koufu to expand into food manufacturing segment. The company that was acquired has around 60 franchises for selling its products. Koufu also plan to open more retail stalls to sell the fried food. Joint venture into Indonesia for R&B tea, so far based on the IG, it seems to be very popular. I am averaging down since my cost of the previous 2 tranches is 70 cents. Any price below 70 cents is acceptable for me. If considered the latest acquisition eps, a PE of 12 is acceptable to me.

I am down nearly 5 percent on my recent buy of UOB at $21.2. Til today I loss around $102. I still have the mindset of a typical investor of hoping the market to be green everyday and I am earning both capital gains and dividends. However, this is impossible. To self motivate myself I always recalled this ancient chinese saying: “  天行健，君子以自强不息 地势坤，君子以厚德载物” Explanation in chinese: 君子应该像天体一样运行不息；如果你是君子，度量要像大地一样，没有任何东西不能包容。 Simple translation in English will be: As a gentleman we should continue to persevere and work hard just like the heaven/sky and we should be as magnanimous as the earth as earth can contains everything

Bought 100 shares of UOB at $21.2. Is around 0.94 PB and using $1.1 as dividend it has a dividend yield of 5.1%. I missed out the opportunity to buy banks previously so I decided to buy them now. Looking to add DBS, personally I am more keen to purchase DBS however DBS is trading above 1PB. I have a bigger margin of safety to purchase UOB as compare to DBS.

Bought 100 shares of sgx at 8.81 and sold one day later at 8.23. Add in commission, total loss around $85. Important lesson to learn from this trade. It is not the fundamentals of SGX, till the latest 3rd quarter results YTD eps is only 4 cents away from last year full year eps. SGX is doing very well but I sold because the price I bought is to high. Am I willing to hold SGX for years for a merely 3.4 percent yield with 30 cents dividend per share? If there is isn’t any other better stocks I would definitely do it. Now I think there are more chances in other stocks such as  DBS, UOB and OCBC. It will be a mistake for me to hold sgx if there are better chances ahead of me. *Lesson Learnt: Do not rush to buy a stock because of sudden drop in prices

Bought 1000 more units of prime US reit. Average cost now at 0.79. Beat forecasted Gross Revenue, Net Property Income and Distributable Income for quarter 1 2020. Good news that covid 19 did not impact Q1 that much. I think Covid 19 real impact can only be seen from 2nd quarter and onwards. However, based on the outlook, I think mid - Long term should still be okay. Lastly, the management we are able to refinance loan and were able to save 1 million per year through 2023. I like the management takes the initiative to refinance loan due the the Low interest rate now. Will be holding prime for Long term unless any significant change in fundamentals, will not add more for the time being as it has become my largest holding now .