Portfolio Update March 2018

One full quarter of 2018 has passed, bull seems abit tired these two months. STI drops 2.56% from 3517.94 to 3427.97, it could sound even worse if we exclude the rebound from the last trading day in March (up 1.3% from 3382.78 to 3427.97). 

I sold LHT after holding it for a year. Quite regret that I didn't average down when it dropped from 76 cents to 62 cents.. and my average cost is around 75 cents lol. Well, I managed to sell them away at around 81 cents, so I think the return is not that bad, but I could have done it in a better way. There is something going on for ComfortDelgro and Uber deal.. Don't know it is good or bad.. I read newspaper said got other players want to join the market, and they are coming in soon. Just wondering.. Singapore so small why these players want to come and fight for small cake? 

Minsheng Bank (HK) continues its downtrend and it is trading at around 7.7 HKD compared to my average cost 8.62 HKD. I am planning to average them down, but they cut the dividend this year so I also lower my average down trigger point. I bought Rivera (HK) in March as well, right after they announced the annual report. I found nothing wrong with the annual report except that the dividend was cut from 5 cents HKD to 4.5 cents HKD, and the share price dropped more than 10% on the next trading day. I managed to get in during that period. The reason I want to invest in Rivera is similar to the reason Mr Tony (His blog address is: 

https://parisvalueinvesting.blogspot.hk/2018/03/19.html#comment-form, I found it very helpful to me). 

I received 300 SGD dividend in March from Tai Sin and Keong Hong! Sad thing was my largest holding Straits Trading got low dividend yield.. Hope they can increase the dividend payout ratio. I am very interested in attending their AGM but I am going back to Italy before their AGM.. Hope someone can raise this issue during their AGM.

My portfolio drops 0.08% from 109,129.27 to 109,040.64 during the same period. The lost was contributed by depreciation of HKD against SGD, and Keong Hong and Tai Sin share price dropped, and offset by the gain from BOC Aviation (HK). I planned to average down Keong Hong again, but didn't managed to do so when it was 55 cents.. Well, I hope I can have the chance soon.. I have attached the portfolio as below: 

No.	Stock	No. of Shares	Ave.Cost	Price	MarketValue	MarketValue (SGD)	%Portfolio
SGX
1	CDG	6,200	2.34	2.05	12,710.00	12,710.00	11.66%
2	KeongHong	13,600	0.654	0.575	7,820.00	7,820.00	7.17%
3	TAI SIN	20,000	0.44	0.39	7,800.00	7,800.00	7.15%
4	STRAITS TRADING	20,000	2.52	2.25	45,000.00	45,000.00	41.27%
5	BOC Aviation	1,900	44.55	46.65	88,635.00	14,772.50	13.55%
6	MINSHENG	5,000	8.62	7.63	38,150.00	6,358.33	5.83%
7	RIVERA	70,000	0.6	0.6	42,000.00	7,000.00	6.42%
Cash
	SGD				6,875.88	6,875.88	6.31%
	HKD				4,223.53	703.92	0.65%
	Total					109,040.64	100%

In fact, BOC Aviation dropped to around 44 HKD few times in last week, and I hesitated to buy more.. 

The dividend month and first quarter reporting season is coming soon! Looking forward to receive my dividend. Still very sad that Minsheng Bank cut its dividend to 0.03 RMB per share.. So disappointed. 

Market up and down very fast in past few weeks, looks like it might be difficult to see STI 3600 again? Waiting for the dividend to refill my bullet and get ready to pick durians! Oh anyway I found that HK market is much more exciting than our STI.. up and down very fast and the volume is really huge compared with our STI. Hope I won't get heart attack anytime soon haha. 

Huat ah! 

It's so hard to sleep on profit

Few months ago I bought 1600 shares of BOC Aviation (HK) at 45.5, and bought another 300 shares of it at 42.5.

Few days ago it announced an outstanding report, and the dividend also increase! I was quite happy, and I use the 4% dividend yield valuation method (created by myself lol), the share should worth at least 50 dollars. So I planned to sleep on the profit and wait for the share price hit my tp.

The share price rose from 43 dollars to 47 dollars in just few days! So now I am sitting on a 800 dollars profit.. and due to profit taking (or other reasons) the share price retrace 1% from their highest point..

Ok I know that 1% is nothing, but I just feel bad and I must admit that I am abit regret why I didn't sell the shares at 47 dollars.. I noticed that my trader mind wants to take part in the decision making process again.

So what should I do? Well.. I am going to turn off my computer and go read books so I won't check the share price every 5 minutes, and I believe this will lower the chance I make stupid mistakes as usual.

I just finish my ACCA F1-F3 exams.. Gonna take F4 soon!

Oh I realised that DBS treasures and Standard Chartered Bank Priority Trading Account got no minimum trading cost! If I don't have to pay at least 25 dollars for every trade (or for cash advance account is minimum 10 dollars) I might be able to average down my shares in a more flexible way.

But the sad thing is the minimum requirement of those premium account is 200k AUM lol. Still so far away... Hope I can reach that minimum requirement asap lol.

What do you do when you see your profits are evaporating?

Sold LHT, Planning to Average Down on Keong Hong

After LHT announced its report, it gained from 69 cents to 80 cents, and today day high was 82 cents. Past 6 months the lowest price was around 63 cents.. Very sad that I didn't average down last time due to very low volume.

I bought it 74 cents and 76 cents in last year May.. If I average down below 65 cents my return will be superior! But I dont have 後悔藥 haha. In fact I got my reason not to average down. The 1H17 financial report was not that good. In fact, I think FY2017 financial report was not very good too.

The company got one off gain by selling its investment property. Without the one off gain, the revenue drops yoy and COGS drops at a slower pace. So gross profit drops.. Therefore after reading the report I wanted to sell my shares as soon as possible, even though they are able to maintain the dividend payout this financial year. I worried that they might not be able to pay same amount of dividend in next financial year which might cause the stock price to drop.

On the other side, Keong Hong drops back to 56 cents! The boat is back, and anyone still dare to go on to the boat? I bought some at 67 cents and some at 61 cents, think it should be the right time to average down again. Keong Hong just set up a JV, and it might have new business soon.

Anyway STI is not cheap anymore after 2 years rally since 2016, so must be very careful when making any investment decision!

DYODD, huat ah!

Hope won't end up in Kallang River haha.

Portfolio Update February 2018

This year we had a roller coaster ride in early February. STI dropped from 3545.18 to 3372.7 (4.87% drop) in less than two weeks, then it bounced back to 3540.39 (4.97% gain) two weeks later.. I tried to short HSI by using DLC HSI 5X SHORT, but end up with around 250 SGD contra loss at the beginning of the drop, because I used my screwed up trading skill to make this decision again. My original plan was use a small portion of my portfolio to buy the DLC HSI 5X SHORT to protect my entire portfolio as an insurance, but when it drop few percent in few minutes I panic and sold them away.

Let us review STI performance in February 2018. STI drops from 3533.99 to 3517.94, but my portfolio drops 2,447.28 SGD (drop more than 2%). The losses were contributed by Keong Hong and MinSheng Bank. I planned to slowly average down my cost and both counters are trading at a discount to its book value and low PE with an attractive dividend yield.

Tai Sin's result is nothing special. Dividend maintained. The dividend yield is around 5.8% at current share price, which I found is quite satisfied. I will continue to hold on to this counter to collect dividend.

LHT announced good result, although I found some items are just one-off gain. Good news is the book value crossed 90 cents mark. Share price up more than 8% on 1 March. Dividend also maintained, and from its financial statement I found that the company should be able to maintain its dividend. The dividend yield is around 7.2% if we use the closing price of February to do the calculation (before the stock jump up 8%). The stock is tiny traded so it is very normal that the price up or down few percent with very low volume. I shall hold on to this counter too as the dividend yield is good.

For Straits Trading.. Its normal operating activity is not performing that well, as there were some portfolio adjustment going on throughout the year. However, the company recorded a very high gain from securities in their comprehensive income statement. I tried to send email to their IR in order to find out more details of the gain, but I didn't receive any response from them at the time of writing. Dividend yield also maintained. Very sad that I couldn't attend their AGM this year. I really hope that they can realised partial of the gain to award shareholders by declaring special dividend.

I have attached my portfolio as below:

No.	Stock	No. of Shares	Ave.Cost	Price	MarketValue	MarketValue (SGD)	%Portfolio
SGX
1	CDG	6,200	2.34	2.03	12,586.00	12,586.00	11.53%
2	LHT	8,000	0.76	0.69	5,520.00	5,520.00	5.06%
3	KeongHong	13,600	0.654	0.605	8,228.00	8,228.00	7.54%
4	TAI SIN	20,000	0.44	0.405	8,100.00	8,100.00	7.42%
5	STRAITS TRADING	20,000	2.52	2.28	45,600.00	45,600.00	41.79%
6	BOC Aviation	1,900	44.55	43.8	83,220.00	14,057.43	12.88%
7	MINSHENG	5,000	8.62	8.18	40,900.00	6,908.78	6.33%
Cash
	SGD				294.05	294.05	0.27%
	HKD				46,383.23	7,835.01	7.18%
	Total					109,129.27	100%

90% of my assets are in the stock market at the moment, and most of the dividend will be credited into my account in May or June.. I am planning to reinvest them.

Guess I shall be the president of Kallang River huh ((:

Happy CNY to yall and hope we all huat this year!