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Largest investments in my portfolio.

Friday, October 27, 2017

In February this year, I revealed the top investments in my portfolio with some indication of their values in dollar terms.

Understand why I decided to share after refusing for so many years by reading this blog:

Investment portfolio and market value.

Then, later in May, I updated the list as I had accumulated a pretty significant position in Centurion Corporation Limited from February.

Centurion has turned out to be a pretty good investment. Read the update in this blog:

Centurion's pricing power.

It is now almost the end of October and things have changed yet again.

1. The decline in QAF Limited's share price makes it a smaller investment for me. It is not as large as it was before. So, it is no longer in the list.

2. The sale of Croesus Retail Trust has been completed and income distribution has been made to shareholders. So, it is removed from the list.

3. The heavy accumulation of SingTel's stock, increasing my exposure by several times, pushes it into the list.

The updated list:

From $350,000 to $499,999:

From $200,000 to $349,999:

From $100,000 to $199,999:
Centurion Corporation Limited

Although Centurion's stock price has gone up quite a bit and I have not reduced my investment, it isn't quite enough to push it into the $200,000 bracket.

Income distributions from my investments this year is likely to end on a high note due to bumper distributions from Croesus Retail Trust and Saizen REIT as both got delisted. 

I will blog about these towards the end of the year when the income from all my investments are received.

Related post:
1. SingTel and Netlink Trust.
2. Croesus Retail Trust.


sleepydevil said...

Hi AK,

It's saddening to lose your "income troop" however, be happy that you're awarded many years of CD :) I like the confidence you had in Singtel. I'm also looking for the opportunity to accumulate more of Singtel shares.

AK71 said...

Hi SD,

Income troops? Hmmm... If I were to think along the same line, they were not just troopers. Croesus and Saizen were more like the Major General and Brigadier General in AK Passive Income Army. So, the loss is keenly felt but well compensated. So, can't complain. Haha. ;)

As for SingTel, time will tell. Sorry, I couldn't resist the pun. ;p

AK71 said...

The beauty of investing the way I do is that I get paid while I wait.

That makes patience more affordable. ;)

laurence said...

Sleeping Devil,

Maybe you might want AK's view on your latest hop onto the cryptocurrency bandwagon?

AK71 said...

Hi Laurence,

Crypto-currency is too cryptic for me. ;p

One could make (or lose) some money trading currencies but they are irrelevant to investors for income.

Unknown said...

Hi AK, I think you mentioned that you dont attend AGMs. May I ask where do you get info about stocks, research? Thanks.

AK71 said...

Hi Unknown,

Companies issue quarterly and annual reports. We don't have to go to AGMs to get the numbers.

Then, there is Google. Just do a search online and we are likely to get plenty of material.

I am too lazy to travel. ;p

laurence said...

AK71 said We don't have to go to AGMs to get the numbers. I am too lazy to travel.

AK will need to don his superhero costume to attend AGMs which is a chore in itself. In addition, during the AGM all attendees and paparazzis would be focusing on him instead of the Chairman, CEO and BoD. This would be a PR disaster for the company leadership and for the AGM. In addition, all the news networks would be reporting his appearance instead of the company results (as we all know, Breaking news is all about Breaking headlines).
So his absence is all for the good of the company and investors alike.
Like all superheroes, AK shuns publicity.

AK71 said...

Hi Laurence,

Very droll. I had a good laugh. Thank you. ;)

sleepydevil said...

Hi AK and Laurence,

Ah. My debut to the cryptic world is just a pun. I'm still a believer of equity. Hopefully, my bout would win me some troop. I would say that the learning that I'll likely receive from the highly volatile market is more important :) Hopefully, I'll be able to write more about it.

AK seemed to be prepared for the special dividend from Singtel.

AK71 said...

Hi SD,

Actually, I am more interested in SingTel's ability to pay a regular and meaningful dividend than the possibility of a special dividend and I said as much in August when I blogged about accumulating its stock: Accumulating SingTel. ;)

laurence said...

With the full weight of AK's unwavering support in the above blog-post, Centurion's stock price shot up 3.64% today as if by celestial command.

AK71 said...

Hi Laurence,

I am innocent. I didn't do anything. Really. -.-"

Elaine said...


May I know what are your thoughts on EC world Reit ?

AK71 said...

Hi Elaine,

I have looked at this before and I was uncomfortable with its dependence on its sponsor for a big chunk of its income.

In the event that the support disappears, the REIT's distribution yield would decline some 20%.

I also did not like the port which accounted for a third of the REIT's portfolio.

laurence said...

Oh no!!! Bad news fm Centurion..... Otoke.........어떻게....... what shall we do.....


The Board of Directors (“Board”) of Centurion Corporation Limited (“Company”, and together
with its subsidiaries, the “Group”) wishes to refer shareholders of the Company
(“Shareholders”) to its announcements dated 14 March 2017 and 2 May 2017, which stated,
inter alia, that the tenure for a dormitory currently owned by the Group at 90 Tuas South Avenue
9 – Tuas Lodge 1 (“Westlite Tuas”) with a bed capacity of 8,600 beds will expire on 30 January
2018, after the 9-month extension of lease offered by the Ministry of National Development

The Board wishes to update Shareholders that the Company had submitted an application to
MND for a further extension of the lease of Westlite Tuas. MND has not granted a further
extension of the lease as the site where Westlite Tuas situated is needed for redevelopment.

The Company is in the process of making arrangements to move these workers to the other
workers dormitories owned by the Group as well as to a pre-arranged dormitory nearby with
available bed capacity. Concurrently, we are working with the Building and Construction
Authority on the reinstatement and return of the land by 30 January 2018.

The Group has benefited from the 9 months extension by the authorities even the lease has
expired on 30 April 2017. With no further extension, the Group will no longer have the benefit of
generating additional revenue from Westlite Tuas.

AK71 said...

Hi Laurence,

The expiring lease is not something new.

It is something investors should have factored into their decision making process.

Lalu said...

hello AK,

What are your views on Keppel KBS US REIT IPO?


Unknown said...

Did anything happened to uncle ak71? no new blog posts? :(

AK71 said...

Hi Lalu,

Other than the fact that I usually avoid IPOs, I don't have anything else to say about this. ;)

AK71 said...

Hi Harold,

Alamak, uncle? :(

I am feeling lazier than usual. So lazy. ;p

AK71 said...

csky said...
Hi AK, I am kind of confused about property counters and hope you can share some thoughts.

If one is negative about the prospects of residential property (increasing vacancy, falling rental and lack of demand catalyst), why would it make sense to invest in property stocks? Granted, you mention that it's undervalued because you believe it's priced lower than its RNAV, but if the prospects are deemed negative, then it may never recover to RNAV? And isn't kind of worrying that property developers are bidding land at sky-high prices when the short term prospects on residential property are not so clear?

Second, although these property counters are diversified into commercial properties… but what if there is a market crash? Then these commercial properties will be hit hard.

Or is it that even after taking these factors in consideration, we could expect price to recover to at least 80% of RNAV and hence at 40% discount to RNAV, there is sufficient margin of safety to invest in them? And this is akin to if you can find a property today that is selling at 40% to NAV, you should not hesitate to buy it?


AK said...
Your concerns are valid.
Have you wondered why my investments in property developers did not make it into the list in here?

csky said...

Ding! Haha, I see what you mean now. I can see your pyramid in my head too. ;p

Thank you!

AK71 said...

Hi csky,

It gives me peace of mind. ;)

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