Thursday, 27 May 2021

Depositing USD Funds into Gemini.com

The depositing details for depositing USD into Gemini has changed, hence this is an update to my previous post in 2017. 

This post is meant as a step by step guide on how you can deposit USD funds in Gemini. Depositing USD allows you to buy, sell and store more than 40 cryptocurrencies such as Bitcoin, Ethereum, Matic (Polygon) and even dogecoin. 

I used my POSB (DBS) bank account which does not charge any fees for same day overseas transfer.

1. Deposit USD funds into Gemini. Select "Transfer" and clock on "Deposit into Gemini".



2. Select Currency and Deposit Method. Select "USD" and "Wire Transfer". 
3. Link your bank account. You will see a hyperlink to link your bank account, this must be done for the very first deposit you are making. 

Indicate your account details.  If you are using DBS or POSB bank, the Swift Number is "DBSSSGSG". You can check out other bank's swift number by checking the bank's website.

5. Gemini's deposit instructions will be shown. The details are also sent to your email. 

6. Login to your POSB/DBS ibanking account. Select "Transfer" and click on "DBS Remit and Overseas Transfer".


7. Add Gemini as an Overseas Recipient. Click "New Recipient". 

8. Indicate the amount of SGD you want to transfer in your ibanking. Scroll down, select "United States" and indicate the SGD amount you can to send. Click "Get Quote". 
If you are fine with the amount, click "Start a New Transfer". If you want to adjust the amount, you can change the SGD amount and click "Get Quote" again. 

9. Indicate the details in your ibanking as per what you have received in Step 5.


You can fill in as per what is in the images above. But do note this is accurate as of 25 May 2021. You still need to check the instructions given as the details may change. 

Remember to indicate the unique reference give to you under "Payment Details for Recipient" (I redacted mine out in black). If this is not indicated correctly, the funds will not be transferred.

Click Next and submit the transactions. If you submit the transactions before 5pm on weekdays, the funds will be deposited in your Gemini account by 10pm on the same day. If the transaction is submitted after this timing and DBS does not process the transaction, you will need to wait for the next business day. If you do this after 5pm on Fri or weekends, the funds will be deposited on Monday night, provided Monday is not a public holiday in United States. 

Once the funds are in Gemini, you can make your crypto purchase.

Need a Gemini referral link? You can use this link and get $10 worth of BTC when you trade at least $100 USD within the first 30 days of registration.

For other crypto links such as Binance, Celsius or Blockfi, you can refer to this link


This is not a buy call for anyone to go into cryptocurrency trading/investment.

Thursday, 20 May 2021

MAPLETREE Industrial Trust US$1.32 billion Data Centre Proposed Acquisition in United States

Mapletree Industrial Trust (MIT) has proposed an acquisition of US$1.32 billion for 29 data centres in 19 states in the United States. The acquisition will be funded via equity fund raising and debt. Equity funding will be via Private Placement and Preferential Offering

Preferential Offering has impact on  shareholders. More information on what is to be done can be found at the end of the post under "Indicate Timeline for shareholders".

Details of the acquisition (images are from MIT's presentation slides):

Acquisition Portfolio 

One of the 29 properties is encumbered by an existing tenant's purchase rights. This means that if that tenant exercise the right to purchase that property, that property will be excluded from the acquisition.  Should that happen, the purchase consideration would be by around US$100 million.

The weighted average lease expiry (WALE) is 7.9 years which is long, with rental escalation of 1.5% to 3% for 89.4% of the lease. only 1.7% of the lease will be expiring in the next 3 financial years.

The occupancy is 87.8% as the occupancy in one of the property in Atlanta is 63.5%. 

The net leasable area is 3.3 million sq ft and 94.1% of properties are freehold.

NAV and DPU Accreditive 


Net Asset Value (NAV) will increase by 6% to $1.76 while Dividend Per Unit (DPU) will increase 3.3% to 12.97 cents. Appreciate that the acquisition is both NAV and DPU Accreditive. Not all acquisitions are NAV and DPU accreditive (e.g. IREIT recent acquisition).


MIT Overall Portfolio 


MIT's assets under management (AUM) will increase from S$6.8 billion to S$8.6 billion. AUM for Data Centres will rise to S$4.6 billion from S$2.8 billion. This mean that data centre will be 53.6% of MIT's portfolio. We can expect further Data Centre acquisitions as MIT's target is for Data Centres to be 2/3 of their portfolio. 

MIT's WALE

MIT's overall weighted average lease expiry will increase from 4 years to 4.6 years. 12.4% of the lease will expire in current FY.

MIT's Gearing

60% of the acquisition will be funded via debt. This means that gearing will increase from 36.0% to 40.3%.


Indicate Timeline for shareholders

Preferential Offering (PO) application starts from 3 Jun at 9am and ends on 11 Jun at 5pm. Applications for PO can be done via ATMs.

Under this PO, 5 new units can be applied for every 100 existing units. Issue price range is S$2.640

Example: 
If you have 5,000 MIT shares as at 31 May 21, you can apply for 250 new units on 3 Jun. 
(5,000/100x5 = 250)

Since you have 50 odd units, you may consider 1 of the following:
a) apply for excess units to round up to hundreds; or
b) apply for just 200 new units (instead of 250).


For myself, MIT is my 4th biggest holding in my portfolio. I am definitely applying for the rights issue along with excess rights. I am not a fan of odd units especially when we talk about PO or rights issue. Also, the acquisition is NAV & DPU accreditive, and increases WALE.  

Monday, 17 May 2021

Foreign Portfolio Apr 21 Update - Bought SEA Limited


Transactions made in the month:

- Bought 11 units of SEA Limited at USD 210.3 (as shared in my earlier post on 3 Mar)

I have been wanting to take profit on Coca Cola at between USD 55.5 to 60. The stock is still a good stock to hold, but I want to route the funds into tech stocks. 

Nothing much happening for now as my time has been divided into reading up on foreign and local equities and Cryptocurrency. There is just not enough time. 
 

Tuesday, 4 May 2021

My Investment Portfolio - SG (End Apr 2021)

  

Transactions made in the month:

- Bought 2,000 units of Keppel DC Reit at $2.69
- Bought 5,000 units of Raffles Medical at $1.15

In the financial world, the term "Sell in May and go away" and reinvest in November is well know as historical data suggested that the best performing months are from November to April. Obviously, for an investor like me who do not time the market, I ignore it and HODL. I added on to Raffles Medical and Keppel DC Reit during the month of April. 

With Raffles Medical recent results, I added on in anticipation of its China hospitals doing better financially in the next three years. The Chongqing hospital has seen improvements in patient load and the management expects it to achieve Ebitda break-even in 2022. The Beijing hospital has completed its upgrading to offer more services. The Shanghai Hospital is near completion and will start receiving patients in the 2nd quarter of the year. Each time, a new hospital is set up, there will be a gestation period. I am taking a long term view of it, hence I am adding on to it now. I will probably add more along the way if the price drops. The dividend yield for this stock is expected to be low at around 2%.  The management has decided to stop offering scrip dividends this year while is a pity. I would have preferred scrip dividends. 

If you are going for dividends you are better off entering Reits. On a side note, currently Raffles Medical is operating 15 vaccination centres out of the 38 centres. They seems to be one of the biggest private operator player in this market. With Singapore on the verge of 2nd wave, MOH is working with private hospital operators again for emergency and inpatient care required. 

For Keppel DC Reit, I added more units as it announced a solid set of results for Q1 21. DPU for Q1 is $2.462 which is up an increase of 18%. NAV has dropped by 1 cents to $1.18 which means it it trading at 2.2 P/NAV. Not the highest P/NAV as it has traded at 2.42 ratio before. They have completed the Asset Enhancement works at Keppel DC Dublin 2 and DC1.

I did not receive any dividends in the month of April. Will be expecting at least $1,500 worth of dividends in month of May. The actual amount may be lower since I will likely go for scrip dividends for DBS. 

Dividends received* during the month: $0

Total dividends received in 2021: $1,353.19

Average dividends per month: $112.77

Total Portfolio Market Value: $297,569

*Dividends are recognised after payment date. Average dividends per month is calculated by dividing the dividends received by 12 months regardless of the month. 
Portfolio excludes Singapore Savings Bonds, Foreign Stocks, Crypto and Stashaway