No. | Counters | No. of Shares | Market Price (SGD) | Total Value (SGD) based on market price | Allocation % |
1. | China Merchant Pacific | 74,150 | 1.03 | 76,375.00 | 25.0% |
2. | Vicom | 8,000 | 6.22 | 49,760.00 | 16.0% |
3. | Nam Lee Metals | 70,000 | 0.29 | 20,300.00 | 7.0% |
4. | Silverlake Axis | 14,400 | 1.02 | 14,688.00 | 5.0% |
5. | Kingsmen | 15,000 | 0.99 | 14,850.00 | 5.0% |
6. | Accordia Golf Trust | 17,000 | 0.65 | 11,050.00 | 3.0% |
7. | ST Engineering | 3,000 | 3.39 | 10,170.00 | 3.0% |
8. | Stamford Land | 10,000 | 0.58 | 5,800.00 | 2.0% |
9. | Noel Gifts | 18,900 | 0.31 | 5,860.00 | 2.0% |
10. | MTQ | 7,000 | 0.72 | 5,040.00 | 2.0% |
11. | King Wan | 5,000 | 0.28 | 1,400.00 | 1.0% |
12. | Warchest* | 95,000.00 | 31.0% | ||
Total SGD | 310,291.00 | 100.00% |
There's a couple of changes that I have made into the portfolio as I continue to seek and incorporate highly qualified businesses which meet my criteria that I feel will present a sustainable long term returns as the businesses continue to grow.
For the month of Jul, I have divested both FCT (Link Here) and FCOT (Link Here) which I thought was overvalued in terms of valuation. I like the way the management has operated for both companies but the steep price makes it as such that they will be prone to a much larger fall should the market heads downwards. I will continue to monitor their situation including their recent quarterly performance which they did well as expected.
I also added Kingsmen and Accordia into the portfolio which I have blogged on my thoughts here and here. On top of that, I have also added a small position for an O&G play in MTQ which I did not post a blog on but have exhibited the same strong characteristics of strong operating cash flow, increasing free cash flow, strong balance sheet and a reasonable valuation. I am closely monitoring the O&G situation so the amount I've nibbled is really small but will increase over time as and when I think is wise to do so. You can view here under the "Recent Transactions" for the details.
The amount of warchest currently stands at 31% of the overall portfolio, a position which I am comfortable to hold at the moment while waiting for the right opportunity to come by. I wouldn't want to rush utilizing these amount of warchest even though they yield really low returns because you never know when you are going to get your opportunity of a lifetime in the market. In any case, these will be utilized if the right opportunities came by, and not a matter of when.
The equity networth has increased for this month to $310,219, mostly due to the divestment mentioned earlier as well as some improved performance from the portfolio and bonus shares received for CMPH and Silverlake.
The projection target is to reach the end year networth of $333,105 (Link Here), which I have revised back in November last year due to certain circumstances. With Aug and Nov being a strong dividend month, and December having an AWS to cater to, I am silently confident that I can hit the goal by year end. In addition, online income has recently came in rather unexpectedly strong as well which has definitely helped to push on. For this, I'd like to thank everyone who has supported the blog.
Projected dividends based on the current portfolio stands at $12,232 per annum, which translates into about $1k/month, and they are not as high as I would like mostly due to the amount of warchest which I have accounted for zero dividends. I guess this just reinforce the idea that it takes years to build an arsenal of solid dividend paying portfolios, and it requires years of perseverance to see it out. I know it will pay off one day so I'll just have to keep the motivations high, and keep it going.
For now, we'll just have to see where the market is going and an important factor which I can't control. One thing for sure, I don't mind having more opportunities presented even if it means not hitting the goal by year end. So that's it from me for now and I hope everyone has a solid month in the month of July as well.
How did you fare for the month of July?
