Author: The Unnecessary Job

Netflix Original – Downsizing and its parallels with FIRE

If you have not watched the Netflix Original Downsizing starring Matt Damon, I would not recommend it unless you really have nothing better to do on a (very) slow weekend afternoon. SPOILER WARNING NO REALLY. MINOR SPOILERS AHEAD. YOU HAVE BEEN WARNED. The story’s premise starts off interesting enough. To address the global crisis of depleting resources and overpopulation, scientists have invented a technique to shrink a person down to about 3% of their original mass (or something like that). Companies start selling residency memberships in small communities for the shrunken people, touting sudden amplification of wealth (due to...

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Mapletree North Asia Commercial Trust MNACT

MNACT’s share price was pummelled after months of HK protests, which saw parts of Festival Walk (MNACT’s largest rent generator) set on fire and vandalized.  Some quick notes:Festival walk contributed 62% of total Net Property Income for MNACT based on their 1H FY2019/20 results. Festival Walk has been closed since 13 Nov. Festival Walk is slated to reopen 16 Jan 2020, prior to Lunar New Year.  Assuming rent collection will only resume after 16 Jan, the expected loss of rental income would be for about two months plus a bit. The Manager will rely on external borrowings to partially top up FW’s distributable income...

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Frustrated with the lack of growth

My portfolio has been stuck at the same level for a good 4-5 months now. Which is frustrating to say the least. Notwithstanding weakness in the market, the cash payment on my home purchase really set me back . That is one of the reasons why I had put off a home purchase for the longest time. I didn’t want my FI goals to be adversely affected. Damn you stamp duty! Big props again to the G for profiteering off the efforts of private developers and the hard-earned capital of home owners.  Investment-wise, I have hit a rut. No...

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Wounded by the Eagle

I currently hold about 55k EHT shares at an average price of 0.64. DID SOMEONE SAY BURNT? I was briefly down 10K USD. Then the stock price rallied to settle around 0.53 – 0.54 range, narrowing my losses. Suffice to say, my track record on bargain hunting is not that erm illustrious.  To put it mildly.  I remain hopeful on EHT.  The SSH selling appears to have stopped (for now).  It is clear that retail investors remain apprehensive on EHT.  And who could blame them?  And I might have been deeper in the hole, had it not been for...

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Bad week for AIMS APAC and Eagle HTrust

When it rains it pours, as the cliche goes. AIMS APAC REIT (AA REIT) suffered a correction earlier this month when its Manager (AIMS Financial) decided to unload shares amounting to around 10% of the float via private placement. The private placement was done at 1.35, which is a significant discount from the last traded price 1.48 prior to the placement. The reason given by the Manager was ostensibly to increase the liquidity of the share.  Seems more like a blatant cash grab to me.  Perhaps investors should have foresaw this cash grab when AIMS acquired the AA REIT...

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On finding purpose

There was a sincere and introspective post on A Millennial’s Attempt at Adulting recently. The post explored the writer’s inner thoughts on the purpose of her job (life?) and invoked the oft-cited Japanese concept of ikigai,  which may be summarized as doing something, which you love, which you are good at, which is useful to society, and which pays you. Ikigai seems to be the elusive holy grail that many are seeking. I do not pretend that I understand why this is so. “Purpose” is itself a rather loaded word in my opinion. Is purpose a mantle you choose...

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Added Cromwell REIT

The BUY 72000 shares @ 0.500 EUR a share Expected yield: 8.2% based on last half yearly payout Accordingly, this investment may yield around SGD 4,300 a year in dividends, or around SGD 360 a month.  Yet another step towards breaking 100k a year passive in 2020. Why? Diversification Wanted some geographical diversification.  I currently have exposure to Singapore, UK, and Australia (AA REIT +  FCOT + Starhill), China  (CRCT), US (Eagle HTrust), ID (First REIT). Ultimately, it was a toss up between IREIT and Cromwell.  Overall, I preferred Cromwell REIT because I feel there is less tenant concentration...

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2019 Q3 Dividends and Portfolio

It is time again to take stock of FI progress.Portfolio Q3 2019 September 2019 Shares held Last traded Value AIMSAMP Cap Reit 257400 1.45 $373,230.00 Cache Log Trust 13600 0.735 $9,996.00 CapitaR China Trust 43100 1.53 $65,943.00 DBS 2000 24.87 $49,740.00 Ezion 19500 0.044 $858.00 First Reit 50000 1.04 $52,000.00 FCOT 234000 1.61 $376,740.00 Eagle HTrust 42000 0.655 (US$) $37,688.70 Keppel Corp 5000 6.02 $30,100.00 OCBC 5000...

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I love Septembers

I love Septembers. It is my birthday month. My bonuses get paid this month. It marks the end of Q3 of the calender year. Yet another stretch completed in the arduous journey toward FI.  I shall be tabulating the Q3 dividend earnings and overall portfolio in a separate post at the end of September. It is also the month where a fair number of companies pay out yummy dividends, including First REIT and AIMSAPAC REIT. Together with my bonuses, the war chest gets a pretty healthy boost.  What’s not to like? As icing on the cake, I also sold...

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New Quest: Breaking 100k passive in 2020

Recently went on another shopping spree with the capital recycled from the Ascendas Htrust sale. I kept saying pace yourself, pace yourself dude, don’t spend it all in one place. But when the market is offering a ton of discounts, it is hard to say no. I have decided the year 2020 should be that year when i finally breach the 6-digit passive income benchmark.   Sometimes I picture myself hopping into a time machine and going back to say hello to the 25-year-old me in 2007. Fresh out of Uni, with a massive $800 to my name sitting...

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Is now a good time to enter the Property Market?

It is a question I ponder repeatedly. Property seminars routinely pop up on my facebook feed with catching captions like – “how to turn 1 property into 4 on a median income salary.” I tend to take investment advice from property agents with a (huge) pinch of salt. As AK loves to say, Never ask a barber whether you need a haircut. Property agents will always tell you that the “only way the market moves is up”. “The developer will never reduce price.”  If the development they are selling is large, they will say how the large number of...

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Keeping my faith with AIMS APAC REIT

Used about half my proceeds from the Ascendas Htrust sale and added 100 lots of AIMS to my portfolio when it went XD @ 1.44. In hindsight, could have waited a bit longer. The next day, it went as low as 1.41/1.42. Then again, thousand gold cannot buy early know. I continue to be quite optimistic on AIMS. Compared to ESR REIT, AIMS is arguably a safer play due to its comparatively lower gearing (33% vs 39% of ESR REIT).  Furthermore, there is a lot of untapped GFA for AIMS properties.  One DBS Treasures report puts it as 600,000...

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Market on sale again – what are you buying?

Feeling a bit like Moses every morning when I log into my trading account and review my watchlist. Huge sea of red. Only difference being, I cannot part a road through it with a wave of my staff. Ascendas HTrust I sold all of my ascendas htrust on 25 July @ 1.05.  Happy to take the money off the table basically. And certainly, did not think that Ascott BT REIT is worth the 1.30 issue price. I was up about 53k on capital gains alone, not including dividends received since 2017. So I am rather pleased with the outcome....

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The Infantilisation of the Poor

Over the weekend, I became vilified on Facebook. For the crime of daring to own an opinion. A respected friend of mine had posted a link to a book published by Liyana Dhamirah, Homeless. This book is basically a feel-good, comeback story, about someone who overcame great odds, to re-plant her feet firmly on the ground.  In an interview with Mothership, the author recounts being pregnant with her first at age 16, and tolerated an repeatedly infidel husband. Both her and husband were eventually cast out by her mother-in-law on Hari Raya no less, and ended up on Sembawang...

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Ascott Residence Trust (ART) buys Ascendas Htrust (AHT) for S$1.0868 per share

AHT last traded at 0.975. My average entry was 0.82 for 235,000 units. The purchase price of 1.0868 represents about a 32.5% gain over what i paid for the shares, excluding dividends received. Including dividends, the XIRR rate of return would be about 26.7% – possibly one of my best performance in 4.5 years of investing. -141432.15 0.267298812 The low down The purchase would be paid in both cash and Ascott units. I would have preferred an all cash deal.  ART’s units are severely over-valued and AHT holders are being shortchanged by being paid in ART shares, which appear...

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