Sold M1, no change to fundamentals. Still undervalued at current prices. However decided to sell to transfer funds into more undervalued stocks.
Added Fraser Centre point Limited. Another fundamentally strong property counter, who owns blue chip properties both in Asia Pacific & even europe. At current prices, it looks like really under valued, at less than 70% of NAV. Near term risks remain with plenty of headwinds in the property sector. But with the margin of safety provided at current prices, with excellent track records, blue chip properties, clear earnings visibility, ability to recycle assets into REITs,
this is enough for me to take the plunge and ride out the near term volatility. Current dividend yield is close to 6% which helps to make my wait bearable.
My portfolio now comprise:
1. China Merchant Pacific
2. Naratel
3. Hong Kong Land
4. Sports Toto
5. Saizen
6. Accordia
7. IREIT Global
8. FCL
9. Boustead
10. Ho Bee Land
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