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I was waiting for a knee jerk reaction after the 2024 United States elections, but it never came for the US market. With Trump's victory, we are likely in for an inflationary environment. Although Trump made several positions including 60% tariffs on all China products, it is unlikely the tariffs will be so high.
Meanwhile in Singapore, REITs went down sharply while Banks went up. This is due to the expectations that Fed Bank will slow down rate cuts as we approach an inflationary environment.
While my warchest is replenished, I am still happy to sit on the sideline. This is because as we approach the year end, I need to also start calculating and projecting my taxable income for Year of Assessment 2025, calculate how much I need to pay in terms of taxes. Also, do some projections on whether I should put money into my Supplementary Retirement Scheme (SRS) account to lower the tax payable.
While I am sorting all these, I will be subscribing to Keppel DC Reit preferential offering at $2.03 each in full for their proposal to acquire a 49% stake in the JV to buy 2 hyperscale data centres. In fact, I will be applying for excess. My own view is that this acquisition with this preferential offering is fantastic. It is DPU and NAV accretive, lower gearing, data centres are in Singapore and are artificial intelligence-ready hyperscale, and there is a limited supply of data centres in Singapore and land to build data centres (room to raise rent). It is important to take note that shareholders will need to be prepared for another preferential offering in 2nd half of 2025, as Keppel DC Reit, is expected to exercise the right to acquire the remaining 51% stake in the JV.
Dividends received* during the month: $759.66 (DBS, ASTREA7CLA1S$526M4.125%320527)
Total dividends received in 2024: $17,414.30
Average dividends per month^: $1,451.19
Total Portfolio Market Value: $411,267
