Sold TTJ, no change to fundamentals. Still undervalued at current prices. However decided to sell to lock in >10% profits to transfer funds into more undervalued stocks.
Added Hong Kong Land today. A fundamentally strong property counter, who owns blue chip properties both in Singapore & Hong Kong. At current prices, it looks like really under valued, at less than 60% 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 and low gearing ratio, plus a potential catalyst in getting listed into MSCI Index,
this is enough for me to take the plunge and ride out the near term volatility. Current dividend yield is at ~3% which to be honest, is too low by my standards, but I do subscribe to a dividend growth theory for Hong Kong Land.
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. M1
9. Boustead
10. Ho Bee Land
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