Thursday, July 3, 2014

My stocks portfolio - Jun 2014

My portfolio of local stocks was up 0.78% on a price basis but it was up 1.39% after taking dividends into account at the end of June 2014. Overall, my holding period returns translate to 10.48% pa since beginning of 2010.

STI is currently trading at a PE ratio of 13.77 which is quite low as compared to the valuation in the US market. I can that say that the downside risk of STI is low unless there is a new financial crisis that emerges. Even though STI was slightly down last month, a number of the smaller cap stocks continue to move higher. It is no surprise as some of the smaller cap stocks have reported good financial results compared to the bigger cap stocks.

Raffles Medical, Silverlake and Riverstone were the biggest movers in my last month portfolio. I took partial profits in Silverlake and Valuetronics to lock in some gains so as to increase my cash level. I will continue to move my stocks into cash if any of the smaller cap stocks continue to outperform. I am interested to watch Valuetronics movements in the next few weeks as a number of brokerage houses have raised the target prices of this manufacturing company. Currently, the stock is trading near its all-time high and it is going to go XD in the next few weeks.

Here is a summary of the transactions made in the month of June 2014.
Sold partial Silverlake Axis, at 103.13% gain (excluding dividends)
Sold partial Valuetronics, at 57.19% gain (excluding dividends)

I did mention that I have started trading in the US market in the beginning of the year. That trading portfolio weighs about 10% of my overall stocks portfolio. It was a good experience with Interactive Brokers so far as the platform provides me with many useful order types that I have never tried before with my local brokerage accounts. As a short term trader, some of the order types are really necessary as part of my risk management plan. My strategy in the US market is basically to buy stocks with strong earnings or technical momentum. After trading for a period of nearly 6 months, my US stocks portfolio has gained nearly 18% outperforming all of my benchmarks. I attach below a cumulative performance of my US portfolio compared to its benchmarks.

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec FY
2010 -1.75% 1.36% 2.98% 4.36% -7.12% 4.40% 4.49% -1.38% 6.76% 3.09% -1.61% 3.93% 20.38%
2011 -0.03% -4.77% 2.07% 1.29% -0.32% -2.39 -0.33% -8.34% -6.53% 7.52% -7.05% 0.52% -17.85%
2012 9.41% 5.52% 2.62% -0.22% -3.13% 2.55% 2.84% 1.99% 4.27% -0.34% 0.11% 2.75% 31.67%
2013 5.18% 2.33% 3.02% 1.95% -2.98% -3.45% 1.96% -5.22% 4.12% 3.19% -0.94% 0.73% 9.69%
2014 -2.44% 1.36% 2.58% 2.99% 3.52% 1.39%
Annualised Return = 10.48%
Stock Mode Unrealised P/L (SGD) Stock Mode Unrealised P/L (SGD)
ARA CASH 41.18% RAFFLES MEDICAL CASH 57.76%
CAPITAMALL TRUST CASH 9.04% RIVERSTONE CASH 99.14%
CDL HOSPITALITY CASH 6.78% ROXY PACIFIC CASH 77.90%
CHINA MILK * CASH -100.00% SATS CASH 5.81%
FIBRECHEM * CASH -100.00% SIA ENGG CASH 37.25%
FAR EAST HOSPITALITY CASH -11.82% SILVERLAKE AXIS CASH 125.73%
FIRST REIT CASH 40.44% STARHILL GLOBAL CASH -1.25%
FRASERS CENTREPOINT CASH 13.85% STARHUB CASH 60.69%
FRASERS COMMERCIAL CASH 2.00% ST ENGINEERING CASH -0.17%
KEPPELCORP CASH 206.80% TECK WAH CASH 39.17%
KINGSMEN CREATIVES CASH 14.18% VALUETRONICS CASH 55.70%
MAPPLETREE GCC CASH -7.19% CAPITAMALL TRUST CPF 2.60%
MTQ CASH 17.94% PARKWAY LIFE CPF 5.72%
OSIM CASH 18.72% SIA ENGG CPF 6.36%
PARKWAY LIFE CASH 24.58%


Tuesday, June 3, 2014

My stocks portfolio - May 2014

May 2014 was another good month for my portfolio of local stocks. On a price basis, my portfolio has returned me 2.90% in that month. Inclusive of dividends, my portfolio was up 3.52%. These returns were higher compared to STI gain of 0.96%. Overall, my holding period returns translate to 10.35% pa since beginning of 2010.

A couple of my stocks like Capitamall Trust, Frasers Centrepoint Trust, Valuetronics and Silverlake Axis had risen significantly in the month of May 2014. Valuetronics and Silverlake Axis are stocks that have history of paying out good dividends over the years. The share price of Valuetronics was boosted after the company reported a remarkable turnaround after disposing its loss making licensing business. After a full and a half year of write downs, the company is now back on track to focus on its profitable but low margins businesses. Silverlake Axis on the other hand had won multiple awards at the Asian Banker Summit.

I just made two transactions in the month of May 2014. I sold MTQ after the company declared bonus shares. My holdings are held in SCB so I don’t wish to end up in odd number of shares. But after doing a careful re-evaluation, I realised I had made a foolish decision to sell the shares. A few days later, I ended up buying MTQ shares in multiple of 5 lots. As a result, my new average price of MTQ has gone up to $1.780. Valuations wise, MTQ remains attractive. Management has also done an excellent job so far in managing their cash flows coupled with a very low level of debt. I am looking forward to the contributions of their new business in Bahrain.

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec FY
2010 -1.75% 1.36% 2.98% 4.36% -7.12% 4.40% 4.49% -1.38% 6.76% 3.09% -1.61% 3.93% 20.38%
2011 -0.03% -4.77% 2.07% 1.29% -0.32% -2.39 -0.33% -8.34% -6.53% 7.52% -7.05% 0.52% -17.85%
2012 9.41% 5.52% 2.62% -0.22% -3.13% 2.55% 2.84% 1.99% 4.27% -0.34% 0.11% 2.75% 31.67%
2013 5.18% 2.33% 3.02% 1.95% -2.98% -3.45% 1.96% -5.22% 4.12% 3.19% -0.94% 0.73% 9.69%
2014 -2.44% 1.36% 2.58% 2.99% 3.52%
Annualised Return = 10.35%
Stock Mode Unrealised P/L (SGD) Stock Mode Unrealised P/L (SGD)
ARA CASH 39.59% RAFFLES MEDICAL CASH 42.25%
CAPITAMALL TRUST CASH 14.28% RIVERSTONE CASH 93.79%
CDL HOSPITALITY CASH 5.26% ROXY PACIFIC CASH 79.42%
CHINA MILK * CASH -100.00% SATS CASH 5.14%
FIBRECHEM * CASH -100.00% SIA ENGG CASH 35.89%
FAR EAST HOSPITALITY CASH -9.79% SILVERLAKE AXIS CASH 93.75%
FIRST REIT CASH 41.03% STARHILL GLOBAL CASH -0.06%
FRASERS CENTREPOINT CASH 15.05% STARHUB CASH 61.85%
FRASERS COMMERCIAL CASH 2.38% ST ENGINEERING CASH 1.67%
KEPPELCORP CASH 202.25% TECK WAH CASH 37.50%
KINGSMEN CREATIVES CASH 17.34% VALUETRONICS CASH 51.81%
MAPPLETREE GCC CASH -3.97% CAPITAMALL TRUST CPF 7.54%
MTQ CASH 20.19% PARKWAY LIFE CPF 6.17%
OSIM CASH 23.58% SIA ENGG CPF 5.31%
PARKWAY LIFE CASH 25.10%

Sunday, May 4, 2014

My stocks portfolio - Apr 2014

My portfolio which is overweighed in S-Reits has returned me 2.99% in the month of April 2014. We see a couple of S-Reits rebounding in that month. While the general market sentiment is negative with the expectation of a rising interest rate, some buyers are already loading up S-Reits slowly. I started loading S-Reits towards the end of last year. I admit they were not added at the lowest possible price. As I am taking a longer term view of my local portfolio, the shorter term price movements are not a major concern to me. My take is that our healthcare, retail and hotel sectors will continue to do well in the rising interest rate environment. I suggest staying away from the industrial sector though. I am seeing a lot of vacant industrial space in the north.

I did not make any transaction in the month of April 2014. Since January and February of this year, I have liquidated a portion of my Singapore portfolio into the US market. That is the reason why I trimmed the number of my local stocks by nearly a quarter during that period. Now I have about 10% of my overall portfolio allocation into the US market. I decided to do shorter and mid-term trades there. Overall, returns have been good so far as they have outperformed the STI and US index. But I want to make sure that those returns are consistent and sustainable in the longer term.

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec FY
2010 -1.75% 1.36% 2.98% 4.36% -7.12% 4.40% 4.49% -1.38% 6.76% 3.09% -1.61% 3.93% 20.38%
2011 -0.03% -4.77% 2.07% 1.29% -0.32% -2.39 -0.33% -8.34% -6.53% 7.52% -7.05% 0.52% -17.85%
2012 9.41% 5.52% 2.62% -0.22% -3.13% 2.55% 2.84% 1.99% 4.27% -0.34% 0.11% 2.75% 31.67%
2013 5.18% 2.33% 3.02% 1.95% -2.98% -3.45% 1.96% -5.22% 4.12% 3.19% -0.94% 0.73% 9.69%
2014 -2.44% 1.36% 2.58% 2.99%
Annualised Return = 9.68%
Stock Mode Unrealised P/L (SGD) Stock Mode Unrealised P/L (SGD)
ARA CASH 44.75% RAFFLES MEDICAL CASH 40.70%
CAPITAMALL TRUST CASH 10.14% RIVERSTONE CASH 75.59%
CDL HOSPITALITY CASH 8.91% ROXY PACIFIC CASH 71.81%
CHINA MILK * CASH -100.00% SATS CASH 6.82%
FIBRECHEM * CASH -100.00% SIA ENGG CASH 30.18%
FAR EAST HOSPITALITY CASH -10.30% SILVERLAKE AXIS CASH 61.77%
FIRST REIT CASH 37.48% STARHILL GLOBAL CASH -3.05%
FRASERS CENTREPOINT CASH 7.84% STARHUB CASH 59.92%
FRASERS COMMERCIAL CASH -4.40% ST ENGINEERING CASH 0.36%
KEPPELCORP CASH 199.40% TECK WAH CASH 34.14%
KINGSMEN CREATIVES CASH 19.23% VALUETRONICS CASH 24.56%
MAPPLETREE GCC CASH -9.33% CAPITAMALL TRUST CPF 3.64%
MTQ CASH 18.68% PARKWAY LIFE CPF 12.44%
OSIM CASH 27.99% SIA ENGG CPF 0.88%
PARKWAY LIFE CASH 32.49%

Tuesday, April 1, 2014

My stocks portfolio - Mar 2014

My holding period return was 2.54% in the month of March 2014. Since the beginning of the year 2010, my overall holding period returns translate to 9.11% in annualised return.

There were 7 transactions made in the month of March 2014.
Bought Osim, new average price at $2.266
Sold Tat Hongs, at 33.88% loss (including dividends)
Sold Sabana Reit, at 106.43% gain (including dividends)
Sold Tai Sin, at 75.05% gain (including dividends)
Sold SGX, at 23.94% gain (including dividends)
Sold Jaya Holdings, at 15.99% gain (including dividends)
Sold Low Keng Huat, at 1.63% gain (excluding dividends)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec FY
2010 -1.75% 1.36% 2.98% 4.36% -7.12% 4.40% 4.49% -1.38% 6.76% 3.09% -1.61% 3.93% 20.38%
2011 -0.03% -4.77% 2.07% 1.29% -0.32% -2.39 -0.33% -8.34% -6.53% 7.52% -7.05% 0.52% -17.85%
2012 9.41% 5.52% 2.62% -0.22% -3.13% 2.55% 2.84% 1.99% 4.27% -0.34% 0.11% 2.75% 31.67%
2013 5.18% 2.33% 3.02% 1.95% -2.98% -3.45% 1.96% -5.22% 4.12% 3.19% -0.94% 0.73% 9.69%
2014 -2.44% 1.36% 2.54%
Annualised Return = 9.11%
Stock Mode Unrealised P/L (SGD) Stock Mode Unrealised P/L (SGD)
ARA CASH 46.34% RAFFLES MEDICAL CASH 24.42%
CAPITAMALL TRUST CASH 4.34% RIVERSTONE CASH 73.45%
CDL HOSPITALITY CASH 0.41% ROXY PACIFIC CASH 74.86%
CHINA MILK * CASH -100.00% SATS CASH 2.44%
FIBRECHEM * CASH -100.00% SIA ENGG CASH 31.54%
FAR EAST HOSPITALITY CASH -16.89% SILVERLAKE AXIS CASH 64.59%
FIRST REIT CASH 27.40% STARHILL GLOBAL CASH -5.44%
FRASERS CENTREPOINT CASH 6.94% STARHUB CASH 61.85%
FRASERS COMMERCIAL CASH -5.53% ST ENGINEERING CASH 0.36%
KEPPELCORP CASH 209.64% TECK WAH CASH 32.47%
KINGSMEN CREATIVES CASH 17.34% VALUETRONICS CASH 28.45%
MAPPLETREE GCC CASH -12.55% CAPITAMALL TRUST CPF -1.81%
MTQ CASH 10.48% PARKWAY LIFE CPF 9.31%
OSIM CASH 14.31% SIA ENGG CPF 1.94%
PARKWAY LIFE CASH 28.80%

Saturday, March 8, 2014

My stocks portfolio - Feb 2014

My holding period return was 1.36% in the month of February 2014. Since the beginning of the year 2010, my overall holding period returns translate to 8.64% in annualised return.

There were 3 transactions made in the month of February 2014.
Bought MTQ, average price at $1.584
Sold partial Sabana Reit, at 5.72% gain (excluding dividends)
Sold Pacific Radiance, at 3.96% gain

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec FY
2010 -1.75% 1.36% 2.98% 4.36% -7.12% 4.40% 4.49% -1.38% 6.76% 3.09% -1.61% 3.93% 20.38%
2011 -0.03% -4.77% 2.07% 1.29% -0.32% -2.39 -0.33% -8.34% -6.53% 7.52% -7.05% 0.52% -17.85%
2012 9.41% 5.52% 2.62% -0.22% -3.13% 2.55% 2.84% 1.99% 4.27% -0.34% 0.11% 2.75% 31.67%
2013 5.18% 2.33% 3.02% 1.95% -2.98% -3.45% 1.96% -5.22% 4.12% 3.19% -0.94% 0.73% 9.69%
2014 -2.44% 1.36%
Annualised Return = 8.64%
Stock Mode Unrealised P/L (SGD) Stock Mode Unrealised P/L (SGD)
ARA CASH 39.59% RIVERSTONE CASH 71.31%
CAPITAMALL TRUST CASH 4.90% ROXY PACIFIC CASH 73.34%
CDL HOSPITALITY CASH -1.11% SABANA REIT CASH 6.51%
CHINA MILK * CASH -100.00% SATS CASH 0.75%
FIBRECHEM * CASH -100.00% SGX CASH 2.76%
FAR EAST HOSPITALITY CASH -21.45% SIA ENGG CASH 28.28%
FIRST REIT CASH 23.85% SILVERLAKE AXIS CASH 68.36%
FRASERS CENTREPOINT CASH 5.13% STARHILL GLOBAL CASH -6.64%
FRASERS COMMERCIAL CASH -4.77% STARHUB CASH 61.08%
JAYA HOLDINGS CASH 8.79% ST ENGINEERING CASH -0.17%
KEPPELCORP CASH 197.70% TAI SIN CASH 27.74%
KINGSMEN CREATIVES CASH 20.49% TAT HONG CASH -38.33%
LOW KENG HUAT CASH -0.26% TECK WAH CASH 24.08%
MAPPLETREE GCC CASH -9.87% VALUETRONICS CASH 10.94%
MTQ CASH 5.43% CAPITAMALL TRUST CPF -1.29%
OSIM CASH 16.61% PARKWAY LIFE CPF 2.59%
PARKWAY LIFE CASH 20.88% SIA ENGG CPF -0.59%
RAFFLES MEDICAL CASH 24.81%