Added Ho Bee Land today. A fundamentally strong property counter, who owns properties both in Singapore & overseas. At current prices, it looks like really under valued, at 50% of NAV. Near term risks remain with plenty of headwinds in the property sector. But with the margin of safety provided at current prices, excellent track records, and possible commercial REIT spin off over the horizon,
this is enough for me to take the plunge and ride out the near term volatility. Current dividend yield is at 2.5% which to be honest, is too low by my standards, but I do subscribe to a dividend growth theory for Ho Bee.
My portfolio now comprise:
1. China Merchant Pacific
2. Naratel
3. TTJ
4. Sports Toto
5. Saizen
6. Accordia
7. IREIT Global
8. M1
9. Boustead
10. Ho Bee Land
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