CompoundingDividendxDividend: April 2019

Monday, April 29, 2019

Transferred $10,000 from CPF OA to SA for 2019

I transferred $10,000 from my OA to SA account today.

In total, I had transferred $35,000 since 2017.

i) $10,000 in Jan 2017 (Link)

ii) $10,000 in Feb 2018 (Link)

iii) $5,000 in Apr 2018 (Link)

iv) $10,000 in Apr 2019

Sunday, April 28, 2019

Perennial AGM 2019

I went to the Perennial AGM on 25th Apr held in their own Capitol Theatre.

Management had shared the below key points during AGM:
1) Capitol Piazza is undergoing rebalancing of tenants mix. Target to complete by Q3 2019. New tenants names was not mentioned, citing confidential.
2) Perennial had signed MOU with SPH (Link).
3) Management is open to explore opportunity to dispose off assets if the price is right, especially AXA tower. This was demostrated of their ability to unlock value through the recent dispose of Chinatown Point (Link).
4) Management only replied "Noted on shareholders concern" for below raised by shareholders:
- Low dividend yield
- Declining of shares price
- Request for more detail breakdown of individual properties performance
5) One shareholder asked will Management focus more into China moving forward? Management responded "No specific country in target. They will go into whichever country that can make the most money". Management also shared projects such as Goodluck Garden, Ghana and Penang are more for Build to Sell rather than Build and Operate.
6) Perennial required high CAPEX, especially in China High Speed Rail (HSR) project which takes years to complete, one shareholders asked why Perennial not going more into asset light? Management responded their strategy is to be both the Owner + Operator. By just been Operator (Asset light), they need to keep going around to 'beg' for contract to be awarded to them.
7) One shareholder asked if building hospital, eldercare and etc in the HSR plot is feasible. Management responded that even the China government believe this is feasible, else the China government will not award a few HSR plot to Perennial.
8) One shareholder asked why there was not much insider trades this year as compare to 2018 as the share price is lower than last year. Management responded that a certain amount of public/free float is required.

Not much surprise on the result of the AGM resolution given that the four sponsors own 82.3% of Perennial.

Ceiling of Capitol Theatre

Bento Set

Thursday, April 18, 2019

Target $200,000 portfolio by end of 2019

My portfolio market value exceeded $100,000 in Dec 2017 (Link).
As of today, my portfolio market value is at $151,272 (Excluding CPFIS shares).

Given that my target dividend for 2019 is $5,985 and I had already received $5,532.90 of dividend in the first 4 months of 2019 (Already exceeded my whole of 2018 dividend amount of $5492.80), I need to give myself new target in order to keep the momentum going (Link).

Since we still have 8 more months to reach the end of 2019, i shall set a slightly higher target of achieving $200,000 portfolio by end of 2019.

Moon target: $200,000
Stars target: My portfolio market value at the end of 2019

Tuesday, April 2, 2019

Added: Keppel Infrastructure Trust

Bought 45,000 shares of Keppel Infrastructure Trust on 2 Apr at $0.46.

Reasons for buying Keppel Infrastructure Trust:
1) 8.1% dividend yield
2) Quarterly dividend
3) Non−Renounceable Preferential Offering at $0.441 for the acquisition of Ixom. Thus, not expecting rights/offering for the rest of this year
4) 52w low at $0.44
5) 5 years low around $0.44 too