And just like that, we have entered the final quarter of the year 2019.
Probably a good time to take stock of what we have set out to achieve this year and if we failed to achieve certain things, what are the steps to take in the next 3 months so that 2019 will be an eventful one.
Financially, things are the same and we are pretty much on track to achieve the target we set out to do. If there are no major market correction this year, we should be able to exceed our financial targets this year marginally.
The last quarter has been lacklustre as I only bought (and then just averaged down) 2 counters – Centurion as well as Hong Kong Land.
Basically, Centurion is in the workers and student dorms around the world. It’s a company that’s in an alternative real estate that I’d argue is quite defensive (workers and students). The company is growing slow and steady, and gives out decent dividends annually. Happy to hold this long term and to wait for any price breakouts. The directors have also been buying back shares periodically, signalling that the price might be undervalued. Bought in at $0.42 and averaged down at $0.41.
Hong Kong Land on the other hand, is a property developer of prime offices and luxury retail properties around in Asia. In Singapore, they are the developers of MBFC, which includes the MBFC Tower 1 2 3 office buildings, as well as MBFC residential development and MBFC retail mall. I think that alone gives a lot of confidence to me. Adding to that, DBS is the anchor tenant of MBFC and I think they will be a tenant for very long time. DBS is a very good pay master.
Because of the HK protest (which is really getting out of hand), the share price of HKLand has suffered, and I followed a few other financial bloggers’ position and added some. I bought in at $5.92 and then just averaged down at $5.51. Happy to also hold this long term, collect the dividend and wait for any price reversal.
Because I just averaged down 2 counters, my cash available for any market crashes is now even lower than what I initially hope for. Furthermore, with the KL condo about to be done in the next 2 months, where I’d need some budget for renovation, coupled with the upcoming wedding, I now hope that the recession or market crash will only come after 6-12 months from now haha.
Another interesting thing that happened was that, Li Ru and I tried to apply for the Lendlease IPO earlier this week. Lendlease is the REIT behind 313 Somerset.
I was hoping we could as least get partial allocation for the IPO but both of us did not get it! The IPO was almost 15 times oversubscribed and we were part of the 40% unlucky applicants who did not win the ballot. The IPO was at $0.88 and when it opened in the public market, it shot up to $0.92 – $0.94 range, of which people are still buying now. Was hoping to get it since it was my first IPO ballot experience and keep the counter long term, but luck wasn’t on our side.
So that’s for my share purchasing experience over the past 3 months. Basically adding on to more dividend yielding counters.
I don’t foresee myself buying any other new counters in the next 3 months, unless the market correction come for the US market, so there probably won’t be any much updates on this front.
Will be travelling a fair bit over the next few months – company trip to Taiwan, year end wedding dinner trip to Kuching, and then post wedding trip to Sapporo with Liru.
Otherwise, will be busy preparing for our wedding, and also prepping for the condo renovation in KL. Will probably talk about it another time. 🙂