No. | Counters | No. of Shares | Market Price (SGD) | Total Value (SGD) based on market price | Allocation % |
1. | China Merchant Pacific | 74,150 | 1.06 | 78,600.00 | 26.0% |
2. | Vicom | 8,000 | 6.24 | 49,920.00 | 17.0% |
3. | Fraser Centerpoint Trust | 10,000 | 2.02 | 20,200.00 | 7.0% |
4. | Nam Lee Metals | 70,000 | 0.29 | 20,300.00 | 7.0% |
5. | FraserCommercial Trust | 11,000 | 1.48 | 16,280.00 | 5.0% |
6. | Silverlake Axis | 12,000 | 1.09 | 13,080.00 | 4.0% |
7. | ST Engineering | 3,000 | 3.32 | 9,960.00 | 3.0% |
8. | Stamford Land | 10,000 | 0.58 | 5,800.00 | 2.0% |
9. | Noel Gifts | 18,900 | 0.29 | 5,480.00 | 2.0% |
10. | King Wan | 5,000 | 0.28 | 1,400.00 | 1.0% |
11. | Warchest* | 79,000.00 | 26.0% | ||
Total SGD | 300,020.00 | 100.00% |
*Does not include emergency, social security (CPF), insurance endowment, and short term (1 month) funds for immediate working capital.
We continued to see some pertinent weakness going into the month of Jun as the STI index has dropped about 5% from is recent high. Like everyone else, my portfolio was also affected by the movement, though the drop was smaller than expected.
Using this as an opportunity, I utilized some of the warchest into buying Silverlake (original article here) when it continued its fierce selling in recent weeks. The stock has bounced back a little from the last I bought, so I hope the fierce selling will stop from here.
I've also used this opportunity to accumulate some odd lots of CMPH when the share price retracted backwards last week. Further details can be found in my "Recent Transaction" page link. It's not any serious amount of any accumulation though I would love to add more to it if not for the already high percentage holding in my portfolio. In terms of moat, cash flow, dividend yield and valuation, it still fared as one of the best out there compared to its peers. The investment thesis remains largely the same as before.
The amount of warchest has now dropped to about 26% of the overall portfolio due to the recent buying activities. I will be paring off some of the buying activities unless a very good opportunity comes by, otherwise the risk adjusted return doesn't seem to pay off well at the moment given the current market situations.
On a personal front, I have also not managed to add on anything to the warchest for this month because of the extremely high expenses incurred. The big bulk of the difference in expenses is due to the money spent on purchasing flight tickets and hotels for our upcoming family trip in Nov later this year, which I have decided to expense all off in this month. We have not had a decent family holidays since the birth of my son so we will be looking forward to our upcoming trip later this year. Next month should look decently better, though much hope will be towards the month of August when I will receive some dividends which will help in terms of managing some of the expenses.
The net worth of the portfolio has fared disappointingly for the past two months as we've seen a general market decline more than anything else. It has dropped from the previous month of $304,430 to $300,020 for this month. I will not be overly concerned with the drop as the market is known for its volatility in the short term but tend to perform much predictably in the long term. I'll continue to sit while waiting for the dividend paying companies to announce dividends in the second half of the year.
What about you? How has your portfolio fared for this month? Did you add on to any opportunities?
