Thursday, April 21, 2016

2016 Portfolio Update (Apr)

This month saw quite some changes to my portfolio.

Firstly, the results for OUE Htrust Rights issue showed the Rights were well-received with 139% over-subscription. I accepted my full Rights allotment and also applied for excess Rights. I was pleasantly surprised that I got all the excess Rights that I applied for, based on my previous experience with AIMSAMP REIT Rights issue. I guess I have to accept periodic Rights issuance as an expected aspect for investing in REITs/Trusts, and be able to use it for balancing the REITs components of my portfolio going forward.

Next, I have decided to fully divest Osim at the offer price of $1.39 helped by Mr Ron raising his take-over offer. As my primary objective for adding Osim was for income, I was actually disappointed that Mr Ron was taking Osim private. However, it would be better for me not to drag further and to find replacement for my income generation.

In replacement for the proceeds from the divestment, I have increased my holdings in Tai Sin and reinitiated investment in M1. Tai Sin is one of my earlier investments of my portfolio which I have been holding for more than 2 years. So far, it has shown to be quite a stable stock with acceptable volatility with sustainable dividends at ~7%. It may not be producing huge capital gains, but fits well for income-investment.

I have previously invested in M1 around June last year. Since then, the share has suffered decline due to challenges in the Telco industry and the weak economy. Although the challenges still remains, I think the current price is at a more reasonable level currently.

  • Note: P/L computation only takes into account the current holdings in the portfolio, and excludes capital gains/losses and dividends from divested shares, and commission charges/fees

Dividends for Apr:
  • None

Recent Portfolio Changes:
  • OUE Htrust: Rights 33:100 @ $0.54 (Allocated full Rights allotment + Excess Rights)  
  • Divested Osim @ $1.39 (20 Apr)
  • Added Tai Sin @ $0.325 (21 Apr)
  • Vested M1 @ $2.48 (21 Apr)

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