Thursday, February 1, 2024

Portfolio Summary for January 2024

As of 31 January 2024


Security # shares Price S$ %
DBS 400 31.88 3.95
UOB 400 28.37 3.51
OCBC Bank 700 12.89 2.79
SGX 2,700 9.41 7.86
ST Engineering 6,900 3.73 7.96
Powermatic Data 8,500 3.00 7.89
Micro-Mechanics 14,200 1.75 7.69
Sheng Siong 19,100 1.56 9.22
TheHourGlass 19,600 1.53 9.28
VICOM Ltd 21,500 1.44 9.58
Credit Bureau Asia 14,300 0.89 3.94
Nanofilm 36,100 0.69 7.71
HRnetGroup 21,900 0.71 4.81
China Sunsine 41,800 0.395 5.11
TalkMed Group 14,500 0.375 1.68
Kimly 27,000 0.31 2.59
HC Surgical 35,500 0.295 3.24
Silverlake Axis 15,000 0.26 1.21
Portfolio Market Value = $323,237
YTD Dividends Received = $0
YTD SBL Fees Received = $3

- Bought 4,600 shares of TheHourGlass.
- Bought 14,500 shares of Nanofilm Technologies.


Security # shares Price S$ %
DBS 100 31.88 2.72
UOB 200 28.37 4.85
OCBC Bank 900 12.89 9.91
SGX 1,300 9.41 10.45
ST Engineering 3,000 3.73 9.56
Micro-Mechanics 5,400 1.75 8.07
Sheng Siong 8,700 1.56 11.59
TheHourGlass 5,000 1.53 6.54
VICOM Ltd 5,500 1.44 6.77
Credit Bureau Asia 5,700 0.89 4.33
Nanofilm 12,500 0.69 7.37
HRnetGroup 7,500 0.71 4.55
China Sunsine 10,800 0.395 3.64
TalkMed Group 5,800 0.375 1.86
Kimly 5,800 0.31 1.54
HC Surgical 19,500 0.295 4.91
Silverlake Axis 6,000 0.26 1.33
Portfolio Market Value = $117,053

- Bought 7,000 shares of Nanofilm Technologies.
- Sold 3,400 shares of Powermatic Data.

Singapore Savings Bonds

Security Amount ($) Avg Yld %
GX22120S 14,000 3.47
GX23010Z 15,000 3.26
GX23110V 20,000 3.32
GX23120Z 20,000 3.40
Portfolio Market Value = $69,000

The U.S. equity market started the year with a bang.  The S&500 Index hit a new lifetime high, despite investors realizing that the U.S. Fed may not cut interest rate so early in the year.

On the other hand, the local STI tripped and fell right out of the gate, losing 2.7% in January.  Major contributors to the loss include DFI Retail Group (-16.7%), Seatrium (-15.3%) and Jardine Cycle & Carriage (-12.6%).

I took the opportunity to load up on TheHourGlass and Nanofilm Technologies as the two counters faced heavy bouts of selling in the market.  So far I see no change to their underlying fundamentals, so I'm not worried.  (I cannot imagine a time when luxury watches go out of fashion.)

In the spirit of audacious New Year resolutions, I have set myself a goal to DOUBLE UP on my CDP portfolio investment in 2024.  It is a stretch target beyond common sense, but one I hope will spur me to catch up on my retirement plan.  I shall review the outcome in December!

Lately, I've also begun to think about the strategic direction I want to take with my SRS portfolio.  All along, I've built my SRS portfolio like a miniature version of my CDP portfolio, with my own weighting methodology and choice of stocks.  The benefit is that I have only one set of companies to monitor.

But it is starting to make no sense to me.  Firstly, the quantum of my SRS portfolio is small.  Each buy trade costs a fair amount of charges, so there isn't any reason to spread my SRS money over a large number of stocks.  Secondly, my CDP portfolio is stacked towards healthy companies that can grow their business over time.  There is volatility as the companies go through cyclical upswings and downswings in their respective industry.  For my SRS portfolio, I should be looking for stability and yield maximization, i.e. investing in securities that provide regular distributions and reinvesting the payout, so that my SRS money can compound at a faster clip.  Lastly, prior to 2015, we have to liquidate all our SRS investments into cash for withdrawal after the statutory retirement age.  But now, we can apply to our SRS operator to transfer the investments out of our SRS account into our CDP account, without having to liquidate them (see official answer [here]).  Having just one or two counters in my SRS portfolio will facilitate this transfer.  Do note that any transfer is still subjected to income tax (based on the transferred investment value), though there is a 50% tax concession.

All this rebalancing is going to cost me quite a sum in transaction fees.  I will adjust my SRS holdings gradually over the course of the year.  I shall review the transformation progress in December!

Earnings reporting season is upon us.  Here are the confirmed result release dates for companies in my portfolio:

01 Feb 2024 - SGX
07 Feb 2024 - DBS
22 Feb 2024 - UOB
28 Feb 2024 - OCBC
29 Feb 2024 - ST Engineering

March issuance of the Singapore Savings Bond (SSB) may see a slight uptick in average yield to 2.88% (estimated).  But it is still far below my requirement, so I will not subscribe for the SSB.

My wife and I have started going out together every Friday night, leaving our children at home.  On weekdays, we are busy with work and household chores; on weekends, we are busy with our kids' enrichment classes.  We hardly have time for each other.  Committing to Friday date nights is a way to strengthen our relationship, and to have some quiet time to ourselves.  We're enjoying it!

As you may have noticed, I'm blogging more frequently now.  Hope to put out more articles sharing my experience and insights, so that readers can get an alternate perspective.

The Lunar New Year is just around the corner.  Many Chinese families are spring cleaning and throwing away old junk.  Shopping malls are packed with people buying new stuff, and stocking up food for the reunion dinner.  The bak kwa (barbecued meat slices) and pineapple tart sellers have their best sales around this time of the year.  Many shops have begun selling CNY goodies too.  I can see long queues outside bank branches for the exchange of new dollar notes.  The boisterous crowds simply add to the festive atmosphere.

Signing off for now.  For my Chinese friends, here's wishing you and your family a blissful & prosperous Year of the Dragon!  Gong Xi Fa Cai!

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