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% |
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