My stocks portfolio - Aug 2009

My overall portfolio was down by 15.98% at the end of August 2009. Total portfolio loss adjusted to 10.45% after taking dividends into account.

There were 3 transactions for the month of August 2009.
Sold Pacific Andes at 53.1% gain
Exercise Frasers Commercial Trust RIGHTS, new average price at $0.287
Bought SGX (PSBP), new average price at $6.005

I sold away Pacific Andes at a profit of 53%. The sale was a strategic move in reducing my exposure to China S-Shares listed on SGX. There is nothing much I want to comment about this company. Currently I am more comfortable holding China Milk and Cosco which are the only two S-Shares in my stocks portfolio. If ever I want to increase exposure to Chinese companies in future, I will choose to buy Exchange Traded Funds (ETF) like DBXT China 25 or Lyxor China Enterprise instead. I believe these ETF are the best proxy if one wants to ride on the Chinese economic growth and less the risk of coporate governance failures.

Frasers Commercial Trust (FCOT) is one of the few companies that I bought when its price peaked. I bought at a high price of $1.054 when it was formerly known as Allco REIT. Then I witnessed the share price spiraling downwards as the company suffers from the impact of global economic crisis. I am glad that I resisted the temptation of averaging down this stock at that time. After the rights exercise, I am slightly better off with the excess shares allocated in bringing down my average price to $0.287.

Going forward, I am more confident of FCOT under the umbrella of Frasers & Neave which is one of the leading Singapore based property company. I believe it is a step in the right direction to inject Alexandra Technopark into its portfolio. This business space property will reduce FCOT reliance on its previous office and retail properties which were the only two sources of property income. Also the injection of this local property will result in a reduced foreign exchange impact to future FCOT earnings stream. These are some of the reasons why I am supporting FCOT RIGHTS exercise.

I received total dividends of $709.75 for the month of August 2009.

Stock	Mode	Unrealised P/L (SGD)	Stock	Mode	Unrealised P/L (SGD)
ARA	CASH	-16.15%	NEPTUNE ORIENT LINES	CASH	22.25%
ARMSTRONG	CASH	84.00%	PAC ANDESW110722	CASH	NA
CAPITACOMM	CASH	0.79%	PLIFE REIT	CASH	35.72%
CAPITALAND (PSBP)	CASH	49.06%	RAFFLES EDUCATION	CASH	-34.68%
CHINA MILK	CASH	-25.40%	ROTARY ENGRG LTD	CASH	24.25%
COSCOCORP	CASH	-62.96%	SATS	CASH	46.33%
COURAGE MAR	CASH	-31.09%	SGX (PSBP)	CASH	39.22%
CSE GLOBAL	CASH	114.65%	ST ENGG	CASH	13.70%
FIBRECHEM	CASH	-88.71%	SWIBER	CASH	-55.04%
FRASERSCOMM	CASH	-44.25%	TAI SIN	CASH	-35.26%
FRASERSCT	CASH	-6.13%	TAT HONG	CASH	36.48%
FSL TRUST	CASH	-49.12%	UOB-KAY HIAN	CASH	-17.82%
GENTING SP	CASH	54.43%	VICOM	CASH	14.19%
JAYA HLDG	CASH	-65.58%	VANGUARD EMER MRKTS	CASH	-19.18%
KEPLAND	CASH	101.89%	iSHARES MSCI EAFE	CASH	13.28%
KEPPELCORP	CASH	96.69%	BH GLOBAL	CPF	-21.62%
KS ENERGY	CASH	-18.83%	COSCOCORP	CPF	-57.45%
MACQ INT INFRA	CASH	-63.94%	SIAENGG	CPF	-45.45%