Cash Inflow

Received about $600 from dividend of AReit, IFast, Apple and Starbucks.

Fully divested IREIT Global as I do not like its upcoming rights issue which improves its gearing but dilutes DPU. Since it is a relative new purchase and I have yet to understand it well enough, I sold it at $0.71 and took a loss of 6.7%.

I have also trimmed my stake in Disney when its share price rebounded for its better than expected performance. Took a 6.6% loss for these shares.

Towards the end of the month, I decided to fully divest Disney and sold the remaining stake at US$133, resulting in a loss of 4.4%.

Cash Outflow

Above sales proceeds is used to increase stake in the following counters.

Added UMS before and after it announced its Q2 results at $1.05 and $1.08, bringing my average price to $1.00. The quarter saw their revenue and net profit up by 35% and 43% respectively. With a strong cash flow, it also increases its dividend back to 1 cents per share for the quarter. If it can continue with this momentum, I believe its annual dividend will go back to 2018 level of 5.5 cents and that would provide a yield of about 5.5% based on current price of $1.00.

Continue to average down on CapitaRetail China Trust at $1.18 and $1.14, reducing my average price to $1.39. Things look to improve in the second half and if dividend stays at 3 cents, that will provide a current yield of around 4.8% and cost yield of about 4%. Not ideal but there is a good chance that dividend will go back to previous level once the crisis is over.

As for the US market, I am waiting for a correction before adding more Adobe, Netflix and Shopify.