Sunday, March 31, 2024

Portfolio Summary for March 2024

As of 31 March 2024


Security # shares Price S$ %
DBS 400 36.03 4.20
UOB 400 29.31 3.42
OCBC Bank 700 13.49 2.75
SGX 3,200 9.21 8.58
ST Engineering 6,900 4.02 8.08
Powermatic Data 8,500 3.00 7.43
Micro-Mechanics 18,400 1.37 7.34
Sheng Siong 19,100 1.53 8.51
TheHourGlass 19,600 1.60 9.13
VICOM Ltd 21,500 1.39 8.71
Credit Bureau Asia 14,300 0.915 3.81
HRnetGroup 21,900 0.725 4.63
Nanofilm 36,100 0.715 7.52
China Sunsine 41,800 0.395 4.81
TalkMed Group 34,500 0.36 3.62
Kimly 27,000 0.305 2.40
HC Surgical 35,500 0.26 2.69
Silverlake Axis 37,100 0.22 2.38
Portfolio Value = S$343,297
YTD Dividends Received = S$1,249
YTD SBL Fees Received = S$27

- Bought 20,000 shares of TalkMed Group.


Security # shares Price S$ %
UOB 200 29.31 5.39
SGX 1,300 9.21 11.00
Micro-Mechanics 5,400 1.37 6.80
Sheng Siong 8,700 1.53 12.23
TheHourGlass 5,000 1.60 7.35
VICOM Ltd 5,500 1.39 7.03
Credit Bureau Asia 5,700 0.915 4.79
HRnetGroup 7,500 0.725 5.00
Nanofilm 12,500 0.715 8.21
China Sunsine 10,800 0.395 3.92
TalkMed Group 5,800 0.36 1.92
Kimly 5,800 0.305 1.63
HC Surgical 19,500 0.26 4.66
Silverlake Axis 6,000 0.22 1.21
NetLink NBN Trust 24,000 0.855 18.86
Portfolio Value = S$108,813

- Sold 100 shares of DBS.
- Sold 3,000 shares of ST Engineering.

Singapore Savings Bonds

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

Speculative Play

Security # shares Price US$
Kep Pacific Oak REIT 70,000 0.152
Portfolio Value = US$10,640


Time flies.  We have come to the end of the first calendar quarter.  The local bank stocks resumed the momentum and hit higher highs without taking a breather.  I could only sit on my hands and wait patiently for retracement, which I am pretty sure will come once the U.S. Fed cuts rates.

I took another nibble of TalkMed Group.  I am also monitoring Micro-Mechanics Holdings as investors continued to be bearish on the company's near-term prospects.

As planned, I whittled down positions in my SRS portfolio, selling DBS and ST Engineering as they hit yearly highs.  My eventual goal is to hold only one (or two) tickers in my SRS portfolio.

During March, I topped up my SRS account with the full cash amount eligible ($15.3k).  The main reason is to earn relief on my income tax.  Another reason is that my employer does a 50% matching contribution up to $5.7k.  The contribution goes separately into my company pension account, which is currently vested in an OCBC money-market fund.  The money is eligible for withdrawal only when I resign or retire.

Speaking of income tax, I recently checked my YA2024 filing on the IRAS portal.  On seeing the amount payable, my first thought was, "Sigh. There goes my performance bonus."  Well, it is actually a good thing to be able to pay income tax.  It means you are earning a comfortable amount of money for a living.  Nonetheless, I'd recommend one to be conversant with all of the tax reliefs available.  Not paying more tax than necessary is a prudent measure.

The average yield on May 2024 issuance of Singapore Savings Bond is estimated to be 3.06%.  Again, this is lower than my requirement, so I won't be parking any money there.

Earnings release season is coming up.  With sticky inflation and the central banks not in a hurry to ease interest rates, financing cost is likely to remain high for leveraged entities.  That said, the economy seems to be going strong, so companies continue to do brisk business and bring in revenue.  The stock market rally still has legs.  But one can never know.  Keeping my powder dry to pounce on opportunities as they arise.

I had just watched ChannelNewsAsia's latest documentary, "Regardless of Grades".  (You can find it [here].)  It talks about the Primary School Leaving Examination (PSLE) and the impact it has on our children.  It is no surprise that a field experiment found parental expectations to contribute the most stress in the P5/P6 kids.  I can relate to the experience.  My older boy is taking his PSLE this year.  My wife and I are concerned about his studies, particularly his Higher Chinese.  We have been sitting down with him every night to go through his assessment practices, getting him to understand the Chinese words and meaning behind each sentence in the passage.  I hope our labour will bear fruit, at least to push up his Chinese Achievement Level score.

On a separate note, my wife and I recently observed a thinning patch in the forehead of my younger boy.  At first, we thought it was a medical infection and we brought our 10-year-old to consult the family physician.  Later, my boy confessed that he had been pulling out his hair.  The reason was attributed to psychological stress in school brought on by the heavy workload.  I was stunned and was at a temporary loss on what to do.  All this while, my wife and I have been focused on our older boy because of his PSLE, and haven't been too strict with the younger child.  Ironically, the younger kid is the one exhibiting abnormal behaviour.  We sat down with him and explained how his habit of pulling hair will only make him look uglier.  If he is stressed by the heavy workload in school, he should inform his teacher.  We can brainstorm ways to cope with it.

By the way, a Straits Times reporter wrote about the story of how I met my wife.  The article appeared recently on the Sunday Times.  I hope it will inspire many to believe that love at first sight is indeed possible.  Hee.

Signing off for now.  Take care!

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