Monday, February 28, 2022

Portfolio Summary for February 2022

As of 28 February 2022


Security# sharesPrice S$%
OCBC Bank70011.672.93
ST Engineering6,8003.829.31
CapitaLand Invest2,7003.693.57
Powermatic Data5,0002.805.02
Sheng Siong13,0001.527.08
Genting Singapore11,7000.773.23
HC Surgical35,5000.486.10
China Sunsine41,8000.4857.26
Silverlake Axis60,8000.2856.21
CL Int Com Trust3,4002.112.57
Portfolio Market Value = $279,156

Trade Actions
- Bought 10,800 shares of China Sunsine Chemical Holdings.
- Sold 400 shares of DBS.
- Sold 800 shares of OCBC Bank.
- Sold 2,700 shares of CapitaLand Investment.


Security# sharesPrice S$%
OCBC Bank90011.6711.48
ST Engineering3,0003.8212.52
Sheng Siong8,7001.5214.45
HC Surgical19,5000.4810.23
China Sunsine10,8000.4855.72
Silverlake Axis21,3000.2856.63
Portfolio Market Value = $91,501

Trade Actions
- Bought 10,800 shares of China Sunsine Chemical Holdings.

It's earnings galore in February. The bulk of companies on my watchlist reported an improved set of results. China Sunsine in particular, reported a significant increase in revenue and profit. HRnetGroup also reported a hefty gain in revenue due to a much better job placement market.

As stock prices climbed in early February, I took some profit on my stake in DBS, OCBC Bank and CapitaLand Investment. It was a timely move as the Russia-Ukraine war broke out thereafter.

Even though the war is thousands of miles away, it grabbed my attention as a similar situation could have happened to Singapore, if our bigger neighbours are aggressive and militarily potent. Peace can never be taken for granted.

Closer to home, we have the inflation war and the COVID-19 war to fight. During my weekly grocery trip, I observed how the cost of food items has increased. Some prices jumped nearly 10%. And it wasn't just food, but other necessities too, like energy. My friends are complaining about the continual jack-up in fuel pump prices. There was an article describing how bigger electricity bills are causing a headache for F&B owners [news].

Then there is the virus. Singapore is seeing daily case load in the tens of thousands. On my Facebook wall, several friends posted about being tested COVID-19 positive. Seems like it is a matter of when - not if - one would get infected. I do hope the pandemic ends with the Omicron variant. The world cannot afford to deal with another more lethal and transmissible strain.

Sheesh. For my own sanity and emotional health, I ought to stop reading all these depressing stuff in the news and social media.

On a more positive note, I had just completed my yearly evaluation with my boss. Thankfully, my performance had met his expectation in 2021, and I received a performance bonus and a pay bump.

I read in Straits Times how a man of my age had been out of employment for a year and is struggling to land a job [news]. I am grateful I still have a position and can provide for my family. I am mindful of how people tend to increase their expenditure with a higher salary. I see no need for a change in my current lifestyle. I am comfortable staying in a HDB estate and not in a condominium. I am comfortable taking public transportation and not owning a car. I am comfortable packing food from hawker centres and not dining in fancy restaurants. Sure, these status perks are wonderful, but I don't think they will give me any more fulfillment than the simple pleasures I am enjoying in my life right now.

To know that I have the CHOICE (to spend more money freely when I want to) is already a satisfying feeling in itself.

In the recent Budget 2022 announcement, Finance Minister Lawrence Wong confirmed the GST will be increased to 8% and 9% in 2023 and 2024 respectively. Some folks gripe about the double whammy of tax and inflation. Then again, there is never a good time to raise taxes. Better the bitter medicine now than a bigger pill to swallow later down the road. And I just watched CNA's Talking Point documentary, in which a tax expert said that 9% may not be the end. Singapore may need the GST to be around 12% to 15% in ten to fifteen years' time in order to sustain the budget [video]. Given my low propensity to consume (i.e. thriftiness), the impact on me and my family should be limited. (In fact, I often joke to my wife that if everybody were like me, Singapore would have an ailing service economy!)

In the blink of an eye, we are nearly through the first calendar quarter. My boss promised more responsibilities for me this year. Ugh. Sounds like more challenges coming my way. But really, having been in this competitive IT industry for a decade now, I should get comfortable being uncomfortable. What I earn commensurates with the value I bring to the table for my clients. Ideally, if I can accomplish more (result) with less (effort), then it will be a win-win outcome. To derive full benefit of the Pareto Principle, this is my short term goal. My long term goal remains the same - to build a sizeable asset portfolio that generates a meaningful passive income. And I am confident I am taking concrete steps in the right direction.

Until next time, stay safe my friends!

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