The Unnecessary Job

The 2018 Q4 Dividend Update SEPTEMBER AIMSAMP - $2,024.1 (Unnamed Co) - $306.34 NOVEMBER First REIT - $860 Starhill Global REIT -$230 Cache Log - $200.7 Lippo Malls - $490 DECEMBER  Ascendas HTrust - $6,603.50 Frasers Log - $5646.29 AIMS AMP - $2,972 TOTAL Q4: $17,002.40 CY 2018 TOTAL DIVIDENDS:  $47,580 Q1 $6,220.64 Q2 $16,045.76 Q3 $8,311.32 Q4 $17,002.40 FY $47,580.12 This amounted to 103.11% of the target Dividend in my FUM spreadsheet. And which translates to a monthly dividend income of $4k. CY 2019 Target Based on FUM: Age at end year 36 37 End of Year 2018 2019 (forecast) Starting Capital $659,230.44 $1,105,376.57 Injected Capital $400,000.00 $120,000.00 Yield based on starting capital only $46,146.13 $77,376.36 Total Investible Assets (theoretical) $1,105,376.57 $1,302,752.93   My AUM at the end of 2018 is 1,102,967 (missed

Update: Stock Amount held Last price Value AIMSAMP Cap Reit 121,400 1.32 160,248.00 Ascendas-hTrust 235,000 0.775 182,125.00 Cache Log Trust 13,600 0.69 9,384.00 CapitaR China Tr 35,000 1.35 47,250.00 DBS 1,000 23.33 23,330.00 Ezion 19,500 0.043 838.5 First Reit 40,000 0.98 39,200.00 Frasers Com Tr 43,000 1.36 58,480.00 Frasers L&I Tr 219,700 1.02 224,094.00 Keppel Corp 5,000 5.71 28,550.00 OCBC Bank 5,000 10.97 54,850.00 Sasseur Reit 40,000 0.66 26,400.00 SingTel 42,000 2.89 121,380.00

Still reeling from the losses realised from my ill-advised venture into Lippo Malls, I have decided to re-invest the sale proceeds plus a bit more into Frasers Commercial Trust. Reasons: 1) I believe office space rents have bottomed out and recovery is underway. And we should start seeing positive rental reversion from 2019 onwards. 2) I like the asset quality of FCOT. For instance, their Central Park property in Perth counts Rio Tinto, DLA Piper and the Australian Stock Exchange amongst its tenants.  The Caroline Chisholm Centre has the Australian Government as a tenant with a lease expiring only in 2025. There is substantial stability and income visibility. 3) The current share price already takes into account the departure of HP from Alexandra Technopark, which is now undergoing AEI.  Given management track record, I believe they would be able to increase the occupancy rates of their Singapore assets. In particular, any newly executed leases would be concluded under increasi

Looks like luck ran out. After much agonizing, I decided to cut loss at 0.200. It was a painful exit but I decided to cut my exposure to Lippo Karawaci's increasing likelihood of master lease default.  First REIT has also been pummeled because of LK's credit downgrade. However, I have elected to retain First REIT in light of its quality healthcare assets.  When I bought into Lippo , I was keenly aware that it was a speculative play, not backed up by fundamentals. Greed propelled me into the purchase, optimistic about making a quick buck off a penny stock flip. Alas, one does not outsmart Mr Market. Lippo Malls seems to be sinking quicker than the sinkholes in China at this time. The prospect of its sponsor unloading overpriced properties onto LMIRT to meet its debt obligations is a pretty daunting one. Whilst it is entirely possible that LK's troubles may ease up in the future, and prompt a re-rating of Lippo Malls, for a peace of mind, I would very much rathe

"Be bold when fear paralyses the market" - seems to be the running theme now in most of the financial blogs I am reading. However, the thing is, if everyone is "boldly" exploiting the recent 20% correction in the STI, then who exactly are the "paralyzed" ones? Relying on boldness in and of itself is probably unwise anyway. It is like the wildebeests crossing crocodile infested rivers. Charging in head first is not always the best idea.  Relying on advice by so-called experts is also not optimal.  No one can predict the depth of this correction. Too conservative and you may miss the boat. Too aggressive and you may go down with the ship. Everyone touts a mythical balance, but nobody knows how to define such "balance".  In short, the answer to the question "should you invest in the stock market now?" is "your guess is as good as mine". As one of my favorite bloggers likes to say, a good strategy for me is not ne