In the past week I was able to obtain a few shares of the upcoming CLC IPO (@ ₱10.68), which in hindsight and totally basing on the P/E, looks quite expensive. Nevertheless, it’s just a few shares and maybe it will do a DD which I once held at around ₱4 before selling at around ₱5.
I also bought some FDC @ ₱7.60, COSCO @ ₱7.79, and HOUSE @ ₱5.92. I think FDC is undervalued given how much EW has increased its profits (and will likely continue to do so… it also isn’t a ‘treasury’ bank). COSCO is a retail play which hasn’t budged much despite of PGOLD’s movement. HOUSE is a cash dividend play.
I’ve gained around 2.2% cash on my principal in the 7 months of this year (note not p.a.) as a number of companies I hold are cash dividend plays. But then again, more companies seem to give out cash dividends in the first half than the second half of the year.
I’m at a wait and see on HLCM since its profits dropped significantly and there is a lot of competition in the cement business within the next 3-5 years.
I’m still looking at getting more PIP, RFM and probably SMC2F (which has an optional redemption date of around Sep 2022).