Share investment Mar 14 Part 1

It's been nearly a year since my last review of my portfolio of shares.

Since then, I have not sold any shares and have bought more (especially since I have more money to invest after the sale of my house):

(1)  Bought more shares in Capitamall Trust, SP Ausnet and SBS Transit. I added more of the former two when their share price dropped sufficiently such that the then prevailing dividend yield was attractive. They remained strong share counters.

As for SBS Transit, its share price dropped to at least 20% below my cost price (twice within the last year!) and that triggered my purchase. This share counter is a cause of concern. Apparently, the increase in fare (subject to government's approval) had not kept up with the increase in cost. Strangely, I can't find much chatter/analysis done on this company in recent years. After much thought, I decided to keep this share counter and top up on weakness in price simply because of its economic moat i.e. being the only public transport company that provides bus service in Singapore - something that Singapore still sorely needs given the prohibitive cost of owning cars.

(2) I've initiated long position in

(a) Cache Logistics Trust, a REIT investing in "income-producing real
estate used for logistics purposes in Asia-Pacific, as well as real
estate-related assets". I've been eyeing this REIT for sometime. Although I have reservation about the fee structure for REIT's manager in general, I bought this as a mean of diversification and, of course, its attractive yield and good record.

(b) Fraser Centrepoint Trust, a REIT that owns popular suburban malls in Singapore where most of them have captive market. It also has investment in Hektar REIT in Malaysia that owns a few popular malls. I used to own this before and I'm happy to own it again when its price dropped.

(c) Kingsmen Creatives, a company that "specialises in the design and production of exhibits for trade shows, museums and visitor centres, events, as well as interiors for retail stores, restaurants, corporate offices, showrooms and other commercial interiors. In recent years, Kingsmen has ventured into other areas of specialty which include thematic & scenic works, brand activation and out-of-home media".

Ok, here's what I know in laymen's term: you know those decoration at malls during festive seasons? Or how about various exhibition at, say, Suntec or at Expo or at museums? Or how about when a company redesign the partitions for its office? I used to think that it's all done in-house. Apparently there's company such as Kingsmen that specialises in such project. Interesting field. Given that Singapore is a MICE centre, it has been doing well and, if I'm not mistaken, it has also ventured abroad.

(d) Singapore Press Holdings ("SPH"), the dominant printing press in Singapore, owning a variety of newspapers, magazines and online portals as well as some properties and event management entreprise. Yes, I know that popularity of printed papers, magazines etc is slowly being eroded by, essentially, the availability of free information on the net but SPH still has many years to go before being endangered. It is not vulnerable currently and so it is looking at and growing alternate sources of earnings in the meantime.

(e) Singapore Technologies Engineering, "specialising in innovative solutions and services in the Aerospace, Electronics, Land Systems and Marine sectors." A conglomerate with over 100 subsidiaries and associated companies globally, which fits in nicely with my search for diversification beyond Singapore business. It has no debt.

(f) STI ETF, an ETF that aims to replicate the movement in STI. It also provides dividends. I bought this when STI was below the psychological barrier of 3000 in the hope for capital gain in future.

(g) Saizen REIT, which invests in apartments in Japan. Interesting, isn't it? I'm a little skeptical about buying this share counter at first because of forex risk. Yen has already fallen gradually against SGD for the past year or so and it's possible that it falls further. I don't know much about forex and I'm not about to start predicting anything. However, I am interested in REIT with business outside of Singapore and so far, from another blogger's experience with this REIT, Saizen has been quite good over the years.

(h) Sembcorp Industries, a conglomerate that are involved in the business of utilities, marine and offshore engineering, and urban development, globally. It's a great fit for my portfolio, with decent economic moats and no debt. I was really lucky to get in when its price dropped sufficiently enough to provide decent dividend yield.

(i) Singapore Shipping Corp, which is into the following operations: "a) ship-owning, ship management and chartering; and (b) warehousing, bunkering, agency and logistics services." Again, this industry is a new addition to my portfolio. The management has made some quite shrewd investment decision in the past and that's chiefly due to its founder. I'll see and hope this goes well.

(3) As at 13 Mar 14, I have investment in 22 companies and 1 ETF (I've also indicated whether their source of business is solely in Singapore only or not):

Second Chance Properties (Singapore only)
AIMS-AMP Industrial REIT (Singapore only)
Boustead Singapore Ltd
Cache Logistics Trust (Singapore only)
CapitaCommercial Trust (Singapore only)
CapitaMall Trust (Singapore only)
CapitaRetailChina REIT
First REIT
Fraser Centrepoint Trust
Kingsmen Creatives
M1 (Singapore only)
SBS Transit Ltd (Singapore only)
SIA Engineering
SP AusNet
Singapore Press Holdings
Singapore Technologies Engineering
STI ETF
Saizen REIT
Sembcorp Industries
Singpost
SingTel
Singapore Shipping Corp
Venture Corp
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