CDP
| Security | # shares | Price S$ | % |
|---|---|---|---|
| DBS | 400 | 31.33 | 3.33 |
| UOB | 400 | 28.06 | 2.98 |
| OCBC Bank | 700 | 12.22 | 2.27 |
| SGX | 2,700 | 9.25 | 6.64 |
| iFast | 5,700 | 4.51 | 6.83 |
| ST Engineering | 6,900 | 3.73 | 6.84 |
| CapitaLand Investment | 7,400 | 3.40 | 6.68 |
| SATS | 8,200 | 2.63 | 5.73 |
| Powermatic Data | 8,500 | 2.66 | 6.01 |
| TheHourGlass | 5,000 | 1.99 | 2.64 |
| Micro-Mechanics | 14,200 | 1.84 | 6.94 |
| VICOM | 14,000 | 1.78 | 6.62 |
| Sheng Siong | 13,000 | 1.62 | 5.60 |
| Nanofilm | 15,400 | 1.49 | 6.10 |
| Genting Singapore | 11,700 | 1.02 | 3.17 |
| Credit Bureau Asia | 14,300 | 0.95 | 3.63 |
| HRnetGroup | 21,900 | 0.75 | 4.39 |
| TalkMed Group | 14,500 | 0.43 | 1.66 |
| China Sunsine | 41,800 | 0.41 | 4.61 |
| HC Surgical | 35,500 | 0.40 | 3.73 |
| Kimly | 27,000 | 0.34 | 2.44 |
| Silverlake Axis | 15,000 | 0.29 | 1.18 |
YTD Dividends Received = $6,490
YTD SBL Fees Received = $694
Trades
- Bought 100 shares of DBS.
- Bought 100 shares of UOB.
- Bought 2,200 shares of VICOM.
- Bought 3,100 shares of Micro-Mechanics.
- Sold 11,200 shares of ComfortDelGro.
SRS
| Security | # shares | Price S$ | % |
|---|---|---|---|
| DBS | 100 | 31.33 | 2.14 |
| UOB | 200 | 28.06 | 3.84 |
| OCBC Bank | 900 | 12.22 | 7.52 |
| SGX | 1,300 | 9.25 | 8.23 |
| iFast | 2,100 | 4.51 | 6.48 |
| ST Engineering | 3,000 | 3.73 | 7.65 |
| CapitaLand Investment | 2,600 | 3.40 | 6.05 |
| SATS | 3,800 | 2.63 | 6.84 |
| Powermatic Data | 3,400 | 2.66 | 6.19 |
| Micro-Mechanics | 5,400 | 1.84 | 6.80 |
| VICOM | 5,500 | 1.78 | 6.70 |
| Sheng Siong | 8,700 | 1.62 | 9.64 |
| Nanofilm | 5,500 | 1.49 | 5.61 |
| Credit Bureau Asia | 5,700 | 0.95 | 3.72 |
| TalkMed Group | 5,800 | 0.43 | 1.71 |
| China Sunsine | 10,800 | 0.41 | 3.07 |
| HC Surgical | 19,500 | 0.40 | 5.27 |
| Kimly | 5,800 | 0.34 | 1.35 |
| Silverlake Axis | 6,000 | 0.29 | 1.21 |
Trades
- Bought 100 shares of DBS.
- Bought 200 shares of UOB.
- Bought 800 shares of VICOM.
- Bought 2,300 shares of Micro-Mechanics.
- Sold 6,900 shares of ComfortDelGro.
Singapore Savings Bonds
| Security | Amount ($) | Avg Yld % |
|---|---|---|
| GX18070N | 12,500 | 2.63 |
| GX22120S | 14,000 | 3.47 |
| GX23010Z | 15,000 | 3.26 |
Commentary:
There is an old adage to "sell in May and go away, come back on St. Leger's Day." (St. Leger's Day refers to a horse racing festival in Britian, happening on 14 to 17 September this year.) It was meant for investors to avoid the stock market's seasonally weaker performance between May and October.
Contrary to this advice, I bought more shares than sold this month. As prices retreated, I added DBS, UOB, VICOM and Micro-Mechanics. I must admit - I'm not smart enough to buy at the bottom. I just thought that at current levels, I can start nibbling bit by bit. We will never know how far (down) the prices can go, so I set aside some capital to buy the shares at pre-set levels. If the market turns up, great because the value of my position increases; if the market continues to tank, no problem too. I get the chance to buy at better prices.
DBS reported another set of record-breaking result [here]. 1Q23 total income was S$4.67b, up 44% YoY. Net profit was S$2.57b, up 43% YoY. ROE improved to 18.6%, up 5.5% YoY. NIM gained 8 bps QoQ to 2.69% while NPL remained stable at 1.1%. 42 cents DPS was declared. CEO Piyush Gupta wrote that the NIM has likely peaked in 1Q, and guided full year NIM to be around 2.05-2.10%. In its latest Investor Day presentation [here], DBS CFO Chng Sok Hui made a bold prediction that DBS will achieve "earnings of $10b+ and ROE of 15%-17% in the medium term, assuming interest rates do not return to unusually low levels".
OCBC reported a good set of results too [here]. 1Q23 total income was S$3.35b, up 27% YoY. Net profit was S$1.88b, up 39% YoY. ROE improved to 14.7%, up 4.1% YoY. NIM dropped 1 bp QoQ to 2.30% while NPL improved 0.1 QoQ to 1.1%. No dividend was declared. CEO Helen Wong guided 2023 NIM to be in the region of 2.2% and loan growth around low to mid single-digit. She also assured that OCBC's robust capital position can support the targeted 50% dividend payout. In a Business Times interview [here], the CEO is confident that OCBC is in a good position to capture wealth and trade flows given its strong links between Greater China and the ASEAN region.
Despite the stellar results, the local bank stocks took a beating in May. The Street consensus is that NIM has peaked and NPL may increase as the economy enters a recession. Some asset managers are even expecting a rate cut by the U.S. Fed in the second half of 2023, which in my opinion, seems to be a premature call at this point in time. This stands in stark contrast with St. Louis Fed President James Bullard's comment [here] that he expects two more rate hikes in 2023 to quell inflation.
And then there is the U.S. debt ceiling drama during mid-month between the Republicans and Democrats. No one truly believes the United States should default on its debt obligations, just that each party tries to leverage on the situation to advance their own agenda. The tussle generated volatility in the market, which is good for opportunistic buying.
May is a good month where I received cash dividends from several companies. Total amount received year-to-date in my CDP portfolio is $6,490.29. Not a lot of money, but it is one step closer to my goal of generating cashflow from investing in fundamentally strong companies.
I signed up for SGX Securities Borrowing and Lending (SBL) Pool some years ago [here]. I can see some of my shares being lent out to other investors. I earn interest (plus owed dividends) after the short sellers return the shares. If you meet the mininum requirements, I recommend to sign up for this programme to earn side income.
I sold my shares of ComfortDelGro (CDG). The rationale was covered in my April blog post [here]. I want to consolidate my capital and make more concentrated bets. CDG share hasn't performed well post-pandemic. With this sale, I'm officially divested of this public transport operator. By the way, CDG recently announced their 1Q23 result [here]. Revenue climbed 2.1% YoY to $906.4m, but Operating Profit dropped 51.6% YoY to $50.9m. The decline was attributed to inflationary cost pressures on Public Transport Services.
I have two AIA saving policies maturing in May and June respectively this year. I signed up for them when I was in N.S. The annual premium was a small sum that I faithfully paid, even when I was hard on cash. I am glad for being disciplined on this commitment throughout my university days and working life. The principal and compounded coupons are a welcome boost to my dry powder for stock investments. (Truth be told, I had forgotten why I took the policies in the first place!)
I had received some units of CapitaLand Ascott Trust from the last dividend corp action of CapitaLand Investment. Quite a hassle to sell odd lots. Will try to offload them at the right time.
Money matters aside, I visited a few secondary schools' Open House this month. I thought it might be good to check out what those schools have to offer. I'm intrigued by the Integrated Programme (IP) [link] as well as the Direct School Admission for Secondary Schools [link]. I hope my boys will be able to qualify for these programmes.
Until next time, take care!
Contrary to this advice, I bought more shares than sold this month. As prices retreated, I added DBS, UOB, VICOM and Micro-Mechanics. I must admit - I'm not smart enough to buy at the bottom. I just thought that at current levels, I can start nibbling bit by bit. We will never know how far (down) the prices can go, so I set aside some capital to buy the shares at pre-set levels. If the market turns up, great because the value of my position increases; if the market continues to tank, no problem too. I get the chance to buy at better prices.
DBS reported another set of record-breaking result [here]. 1Q23 total income was S$4.67b, up 44% YoY. Net profit was S$2.57b, up 43% YoY. ROE improved to 18.6%, up 5.5% YoY. NIM gained 8 bps QoQ to 2.69% while NPL remained stable at 1.1%. 42 cents DPS was declared. CEO Piyush Gupta wrote that the NIM has likely peaked in 1Q, and guided full year NIM to be around 2.05-2.10%. In its latest Investor Day presentation [here], DBS CFO Chng Sok Hui made a bold prediction that DBS will achieve "earnings of $10b+ and ROE of 15%-17% in the medium term, assuming interest rates do not return to unusually low levels".
OCBC reported a good set of results too [here]. 1Q23 total income was S$3.35b, up 27% YoY. Net profit was S$1.88b, up 39% YoY. ROE improved to 14.7%, up 4.1% YoY. NIM dropped 1 bp QoQ to 2.30% while NPL improved 0.1 QoQ to 1.1%. No dividend was declared. CEO Helen Wong guided 2023 NIM to be in the region of 2.2% and loan growth around low to mid single-digit. She also assured that OCBC's robust capital position can support the targeted 50% dividend payout. In a Business Times interview [here], the CEO is confident that OCBC is in a good position to capture wealth and trade flows given its strong links between Greater China and the ASEAN region.
Despite the stellar results, the local bank stocks took a beating in May. The Street consensus is that NIM has peaked and NPL may increase as the economy enters a recession. Some asset managers are even expecting a rate cut by the U.S. Fed in the second half of 2023, which in my opinion, seems to be a premature call at this point in time. This stands in stark contrast with St. Louis Fed President James Bullard's comment [here] that he expects two more rate hikes in 2023 to quell inflation.
And then there is the U.S. debt ceiling drama during mid-month between the Republicans and Democrats. No one truly believes the United States should default on its debt obligations, just that each party tries to leverage on the situation to advance their own agenda. The tussle generated volatility in the market, which is good for opportunistic buying.
May is a good month where I received cash dividends from several companies. Total amount received year-to-date in my CDP portfolio is $6,490.29. Not a lot of money, but it is one step closer to my goal of generating cashflow from investing in fundamentally strong companies.
I signed up for SGX Securities Borrowing and Lending (SBL) Pool some years ago [here]. I can see some of my shares being lent out to other investors. I earn interest (plus owed dividends) after the short sellers return the shares. If you meet the mininum requirements, I recommend to sign up for this programme to earn side income.
I sold my shares of ComfortDelGro (CDG). The rationale was covered in my April blog post [here]. I want to consolidate my capital and make more concentrated bets. CDG share hasn't performed well post-pandemic. With this sale, I'm officially divested of this public transport operator. By the way, CDG recently announced their 1Q23 result [here]. Revenue climbed 2.1% YoY to $906.4m, but Operating Profit dropped 51.6% YoY to $50.9m. The decline was attributed to inflationary cost pressures on Public Transport Services.
I have two AIA saving policies maturing in May and June respectively this year. I signed up for them when I was in N.S. The annual premium was a small sum that I faithfully paid, even when I was hard on cash. I am glad for being disciplined on this commitment throughout my university days and working life. The principal and compounded coupons are a welcome boost to my dry powder for stock investments. (Truth be told, I had forgotten why I took the policies in the first place!)
I had received some units of CapitaLand Ascott Trust from the last dividend corp action of CapitaLand Investment. Quite a hassle to sell odd lots. Will try to offload them at the right time.
Money matters aside, I visited a few secondary schools' Open House this month. I thought it might be good to check out what those schools have to offer. I'm intrigued by the Integrated Programme (IP) [link] as well as the Direct School Admission for Secondary Schools [link]. I hope my boys will be able to qualify for these programmes.
Until next time, take care!
Enjoyed this post? Never miss out new posts by subscribing here.
No comments:
Post a Comment