Singapore shares down for 2nd day

Singapore shares were set to decline for the second consecutive day after prices ended 0.76% lower on Thursday as concerns of a rise of US interest rates triggered selling. The blue-chip STI fell 23.55 points after an overnight decline in US stocks.
Also, in some real estate shares news:
Mapletree Industrial Trust (MIT) is set to develop a $250 million1 build-to-suit facility at its existing Telok Blangah Cluster for Hewlett-Packard Singapore (Private) Limited.
Ascott Residence Trust (Ascott REIT) has acquired a rental housing property in Fukuoka for JPY6.3 billion ($78.4 million1). The property acquired has an EBITDA yield of 6.6%. This is set to increase FY 2013 distribution per unit by 2.1% from 8.40 cents to 8.58 cents. Ascott REIT has acquired the 389-unit Infini Garden from The Ascott Limited and ArcResidential Japan Investments Limited.

STI ends high for the month of Feb

Singapore shares ended at a high with the Straits Times Index hitting 3 090.3 points, keeping the level on track by gaining a rise of 2.1 %. This is its biggest gain since last September.

Meanwhile, new private home sales remained low in January since the implementation of the total debt servicing ratio (TDSR) framework last year. This has caused developers to hold back launches and lending restrictions curbed demand.

Let's just hope for all the remediation and adjustment to fall in place as discussed from Budget 2014 for better economic progress in 2014.

Singapore Budget 2014

Deputy Prime Minister and Finance Minister,Tharman gave his annual Singapore Budget speech in Parliament yesterday afternoon, highlighting to achieve a fair and equitable society in the upcoming year.

After the announcement of the Pioneer Package made by Prime Minister, Lee Hsien Loong earlier this month, Tharman elaborated on the details of the package. The package is launched to recognise the contributions pioneers have made, will apply to all Singaporeans who were at least 16 years old in 1965, and citizens by 1987.

In summary, there will be a further 50% discount off subsidised bills in SOCs and Polyclinics along with enhanced benefits under CHAS. There will also be disability assistance of $1.2k per year.

Medisave can also be used more flexibly along with $200-$800 top up per year. There will also be premiums through MediShield Life subsidies and Medisave Top-ups.

Meanwhile, with effect from Jan 2015, the CPF employer contribution rate will be raised by 1 percentage point for all workers. This increase will be channelled to the Medisave Account. The government will also raise the employer contribution rate by 0.5 % for those aged 55-65.

On the other hand, with immediate effect, there will be a higher tax rate implemented on tobacco, liquor and lottery betting. This is to discourage society from smoking while keeping the price of such goods balanced with the inflation rate.

In summary, Tharman unveiled the overall budget balance as a deficit of S$1.2 billion, which is about 0.3 per cent of Singapore’s GDP.

Generally, Singapore Budget 2014 has brought some smiles especially to the pioneer generation. However, a large group of people are unhappy with the further price hike in tobacco and alcohol since the initial prices of both goods were already much higher relative to other countries.

Well, only time can allow everyone to either accommodate or make the necessary adjustments.

CapitaLand's recent performance

CapitaLand announced that its fourth-quarter profit fell 46% after a loss on the sale of a stake in Australand Property Group. Lower revenue from its Singapore home sales was also recorded. Revenue dropped 2.3% to $1.09 billion. 

However, they are proposing its dividend at 8 cents per unit. CapitaLand is now trading at a big discount to their RNAV value. This stock is now in my radar, I will try to add it into my portfolio.

Ascott REIT acquisition

Ascott REIT new acquisition in year 2014, a serviced residence in Dalian for RMB571 million ($118.6 million) with an  EBITDA yield of 5.5%. This acquisition is expected to increase FY 2013 distribution per unit by 1.5% from 8.40 cents to 8.53 cents.


The property acquired has convenient access to the city and Dalian Zhoushuizi International Airport. It is also located to imperative places such as supermarket, international schools and hospital.

Ascott REIT closed at 1.180 today, I will start to enter at 1.165

News on HPH Trust

Lim&Tan on 12 Feb 2014

*Hutchison Port Holdings Trust: 4Q13 one-off items hit P&L*

*Summary: *HPHT reported 4Q13 earnings results that were lower than ours
and the street's expectations due to one-off items: (1) concession to
shipping lines after previous industrial action at HIT, (2) write-off of an
upfront fee after the US$3.6b bank loan refinancing, and (3) exchange loss
from the conversion of USD to HKD for repayment of bank loan for the ACT
acquisition. Revenue for 4Q13 fell 0.8% YoY to HK$3.12b. Total operating
expenses for the quarter increased by 10.9% to HK$2.17b. PATMI fell 47% to
HK$335m. Management is guiding mid-single digit growth in volume for its HK
and Shenzhen ports, with 1-2% increase in ASP. Due to the expiry of tax
holidays for some phases of Yantian, for FY14, management is guiding an
effective tax rate of 19-20%, a significant increase over FY13's 12%.
Lowering our DPU forecasts, we reduce our FV on HPHT from US$0.74 to
US$0.63. We maintain a *HOLD* rating on HPHT. HPHT is trading at a FY14F
dividend yield of 8.0%. (*Sarah Ong*)

Personally, I am holding 20 lots of HPH Trust.

Updated Dividend data for specific stocks

Company	Dividends per Unit (DPU)/cents	EX Dividend (XD) Date	Book Closure Date	Payable Date	Payment Period
Ascott Reit	3.698	27 January 2014	29 January 2014	27 February 2014	Jul-Dec 13
CACHE	2.137	-	29 January 2014	25 February 2014	Oct-Dec 13
Cambridge	1.251	23 January 2014	27 January 2014	28 February 2014	Oct-Dec 13
CapitaComm	4.130	-	3 February 2014	28 February 2014	Jul-Dec 13
CRCT	4.330	5 February 2014	7 February 2014	27 March 2014	Jul-Dec 13
CDL HTrust	5.560	4 February 2014	6 February  2014	28 February  2014	Jul-Dec 13
Far East HTrust	1.420	-	20 February 2014	28 March 2014	Oct-Dec 13
FrasersCT	2.500	-	29 January 2014	28 February 2014	Oct-Dec13
FCOT	2.050	-	30 January 2014	28 February 2014	Oct-Dec 13
HPH Trusts US$	22.30(HKD)	-	19 February 2014	28 March 2014	Jul-Dec 13
Kep Reit	1.970	-	28 January 2014	28 February 2014	Oct-Dec13
Keppel Corp	30	-	25 April 2014	7 May 2014	FY 13
LippoMalls	0.560	19 February 2014	21 February 2014	14 March 2014	Oct-Dec 2013
OUE Ltd	TBA	TBA	TBA	TBA	TBA
PCRT	1.9	17 February 2014	19 February 2014	11 March 2014	Jul-Dec 13
Starhill Gbl	1.230	-	4 February 2014	25 February 2014	Oct-Dec 13
Sabana Reit	2.190	29 January 2014	3 February 2014	28 February 2014	Oct-Dec13
Suntec Reit	2.562	-	3 February 2014	25 February 2014	Oct-Dec13

Personally, I bought 10 more lots of HPH Trust (SGD) at 0.830 last week.