Saturday, June 1, 2024

Portfolio Summary for May 2024

As of 31 May 2024

CDP

Security # shares Price S$ %
DBS 440 35.99 4.42
UOB 400 30.79 3.44
OCBC Bank 700 14.51 2.84
SGX 3,200 9.56 8.55
ST Engineering 6,900 4.18 8.06
Powermatic Data 8,500 2.96 7.03
Micro-Mechanics 18,400 1.62 8.33
TheHourGlass 19,600 1.60 8.76
Sheng Siong 19,100 1.49 7.95
VICOM Ltd 21,500 1.35 8.11
Credit Bureau Asia 14,300 0.945 3.78
Nanofilm 36,100 0.77 7.77
HRnetGroup 21,900 0.70 4.28
China Sunsine 41,800 0.40 4.67
TalkMed Group 34,500 0.395 3.81
Kimly 27,000 0.315 2.38
Silverlake Axis 37,100 0.295 3.06
HC Surgical 35,500 0.28 2.78
Portfolio Value = S$357,932
YTD Dividends Received = S$6,452
YTD SBL Fees Received = S$75

Trades
None

SRS

Security # shares Price S$ %
SGX 1,300 9.56 9.32
Micro-Mechanics 5,400 1.62 6.56
TheHourGlass 5,000 1.60 6.00
Sheng Siong 8,700 1.49 9.72
VICOM Ltd 5,500 1.35 5.57
Credit Bureau Asia 5,700 0.945 4.04
Nanofilm 12,500 0.77 7.22
HRnetGroup 7,500 0.70 3.94
China Sunsine 10,800 0.40 3.24
Kimly 5,800 0.315 1.37
Silverlake Axis 6,000 0.295 1.33
HC Surgical 19,500 0.28 4.10
NetLink NBN Trust 60,000 0.835 37.58
Portfolio Value = S$133,303

Trades
- Bought 36,000 shares of NetLink NBN Trust.

Singapore Savings Bonds

Security Amount Coupon Now
GX22120S S$14,000 3.26%
GX23010Z S$15,000 2.95%
GX23110V S$20,000 3.21%
GX23120Z S$20,000 3.30%
GX24060A S$20,000 3.26%
Portfolio Value = S$89,000

Speculative Play

Security # shares Price US$
Kep Pacific Oak REIT 70,000 0.14
Portfolio Value = US$9,800

Trades
None


Commentary:
I often joke to my foreign friends that Singapore has two seasons - sunny and rainy.  Our little tropical island can be scorching hot one day, and inudated by heavy thunderstorms the next.  Such diverse weather was common in the month of May.

Singapore also witnessed the swearing-in of a new government, with Lawrence Wong taking over as Prime Minister (PM) from Lee Hsien Loong.  While most ministers retained their original portfolios, the time for General Election is near, as the PM will likely seek a new mandate from the people.

Inflation in the U.S. continues to persist higher than expected, which means the Fed is happy to sit on their hands and do nothing to the Fed Fund Rate.  Any form of relief rally is likely to be short-lived.  Some market professionals [here] and [here] are even predicting no rate cut this year.

The three local banks reported another quarter of healthy profit.  That said, as their deposit base widens while loan growth stagnates, it is going to be harder to repeat the same kind of stellar performance seen last year.  The redeeming grace will be the rising income from wealth management fees.

Market sentiment is relatively bullish, and many stocks had risen in price.  I only executed one trade for my SRS account in May.  FOMO is never a good reason to invest.  I will patiently build up my dry powder in favour of better opportunities.

I vested $20,000 for the June's Singapore Savings Bond (SSB).  The average yield for July's issuance of SSB is an estimated 3.30%.  This meets my minimum requirement, so I will also apply for $20,000 of the July's SSB.

I am building a SSB tranche ladder alongside my stock portfolio.  Equity dividends are lumpy in nature and are sensitive to the performance of the economy.  This makes the payout rather unpredictable.  In an adverse scenario, even REITs have to cut or reduce their distributions, so they are not stable instruments either.  The fixed coupons from SSB will help to smoothen the cash inflow.

On the home front, my wife and I brought our older boy to different secondary schools' Open House over three consecutive Saturdays.  It was an eye-opener as we gained a good understanding on the unique student experience available, as well as toured the school compound.  We have applied for the Direct School Admission (DSA-Sec) to three different secondary schools, leveraging on my son's leadership track record.  I hope my boy will be able to score at least an interview in July.

That's all for now.  Take care!




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