My stocks portfolio - Jul 2010

Based on total invested capital, my stocks portfolio was down by 2.84% at the end of July 2010. Total portfolio gain adjusted to 4.73% after taking all dividends into account. My holding period return was 4.49% for the month of July 2010. Since the beginning of the year, my overall holding period returns translate to +14.91% in annualized return.

There were 2 transactions for the month of July 2010.
Sold partial Capitacomm at 50.2% gain (without dividends)
Bought Lee Metal, average price at $0.212

Capitacomm share price had risen substantially and had outperformed the market. I used that opportunity to take a partial profit after noticing that the market value of my Capitacomm shares had climbed to the top three ranking within my stocks portfolio. I consider this office based REIT as a highly risky stock, so I am not comfortable of having a major portion of my holdings in the company. Therefore my decision to sell is wholly because of rebalancing of portfolio need and nothing to do with the fundamentals of the company.

I have used up the free cash to buy shares in Lee Metal. The company is trading at about 9% dividend yield based on my purchase price. After looking through their financial statements, I believe the total dividends of $13.79M paid out in FY2009 can be sustainable going forward. Lee Metal has a good track record with dividends pay out, able to achieve double digits ROE over the years and is trading close to its NAV currently.

I did not receive any dividends for the month of July 2010.

Month	Holding Period Return	Annualized Return
Jan-10	-1.75%	14.91%
Feb-10	1.36%
Mar-10	2.98%
Apr-10	4.36%
May-10	-7.12%
Jun-10	4.40%
Jul-10	4.49%

Stock	Mode	Unrealised P/L (SGD)	Stock	Mode	Unrealised P/L (SGD)
ARA	CASH	40.74%	LEE METAL	CASH	-3.30%
ARMSTRONG	CASH	244.00%	MACQ INT INFRA	CASH	-44.56%
ASIATRAVEL	CASH	4.53%	MERMAID	CASH	-32.72%
CAPITACOMM	CASH	49.49%	NOBLE GROUP	CASH	4.30%
CAPITALAND	CASH	59.10%	NEPTUNE ORIENT LINES	CASH	55.66%
CAPITAMALLS ASIA	CASH	0.47%	PLIFE REIT	CASH	90.78%
CHINA MILK	CASH	-67.74%	RAFFLES EDUCATION	CASH	-64.59%
CITYSPRING	CASH	24.49%	ROTARY ENGRG	CASH	-2.58%
COURAGE MAR	CASH	-22.62%	SATS	CASH	72.99%
CSE GLOBAL	CASH	146.79%	SGX	CASH	20.29
DESIGN STUDIO	CASH	-7.47%	ST ENGG	CASH	42.23%
FIBRECHEM	CASH	-88.71%	STARHUB	CASH	9.87%
FORTUNE REIT	CASH	43.48%	TAI SIN	CASH	-30.60%
FRASERSCT	CASH	27.32%	TAT HONG	CASH	26.28%
GENTING SP	CASH	79.13%	TIONG SENG	CASH	-5.77%
HEALTHWAY	CASH	58.12%	UOB-KAY HIAN	CASH	-19.42%
HG METAL	CASH	-36.31%	VICOM	CASH	56.87%
JAYA HLDG	CASH	-51.52%	VANGUARD EMER MRKTS	CASH	-8.76%
K-GREEN	CASH	NA	iSHARES MSCI EAFE	CASH	5.46%
KEPLAND	CASH	224.76%	BH GLOBAL	CPF	-15.23%
KEPPELCORP	CASH	141.41%	COSCOCORP	CPF	-44.18%
KS ENERGY	CASH	-29.87%	SIAENGG	CPF	-13.44%