CDP
| Security | # shares | Price S$ | % |
|---|---|---|---|
| DBS | 440 | 65.40 | 3.58 |
| UOB | 400 | 39.76 | 1.98 |
| OCBC Bank | 700 | 24.79 | 2.16 |
| SGX | 3,200 | 24.08 | 9.57 |
| ST Engineering | 6,900 | 10.39 | 8.91 |
| Powermatic Data | 13,800 | 3.59 | 6.16 |
| Sheng Siong | 19,100 | 3.23 | 7.67 |
| Micro-Mechanics | 18,400 | 2.85 | 6.52 |
| UMS | 39,000 | 2.65 | 12.84 |
| TheHourGlass | 19,600 | 2.62 | 6.38 |
| VICOM Ltd | 21,500 | 1.78 | 4.76 |
| Nanofilm | 36,100 | 1.21 | 5.43 |
| Credit Bureau Asia | 39,200 | 1.14 | 5.55 |
| Info-Tech | 41,400 | 0.88 | 4.53 |
| Riverstone | 40,500 | 0.855 | 4.30 |
| HRnetGroup | 21,900 | 0.74 | 2.01 |
| China Sunsine | 41,800 | 0.685 | 3.56 |
| Kimly | 27,000 | 0.395 | 1.33 |
| HC Surgical | 35,500 | 0.375 | 1.65 |
| Audience Analytics | 38,900 | 0.235 | 1.14 |
YTD Dividends Received = S$13,463
YTD SBL Fees Received = S$1,434
Trades
- Bought 5,000 shares of Credit Bureau Asia.
SRS
| Security | # shares | Price S$ | % |
|---|---|---|---|
| Micro-Mechanics | 5,400 | 2.85 | 9.51 |
| TheHourGlass | 5,000 | 2.62 | 8.10 |
| Nanofilm | 12,500 | 1.21 | 9.35 |
| NetLink NBN Trust | 108,000 | 0.975 | 65.09 |
| HRnetGroup | 7,500 | 0.74 | 3.43 |
| HC Surgical | 19,500 | 0.375 | 4.52 |
Trades
None
Singapore Savings Bonds
| Security | Amount | Coupon Now |
|---|---|---|
| GX22120S | S$14,000 | 3.58% |
| GX23010Z | S$15,000 | 3.25% |
| GX23110V | S$20,000 | 3.21% |
| GX23120Z | S$20,000 | 3.30% |
| GX24060A | S$20,000 | 3.26% |
| GX24070S | S$20,000 | 3.26% |
| GX24080W | S$20,000 | 3.19% |
YTD Coupons Received = S$2,094
Speculative Play
| Security | # shares | Price US$ |
|---|---|---|
| KORE US REIT | 70,000 | 0.182 |
YTD Dividends Received = S$223
Trades
None
Commentary:
June has got to be the *worst* month for me this year, because I came down with COVID-19 infection. Again. Not sure how or where I contracted the virus, since I am cautious to wear a mask when taking public transportation. Must be in the office. Sigh.
Being quarantined at home, I had ample time to lap up financial content from YouTube. There were videos warning folks about buying into SpaceX, which debutted on the NASDAQ exchange on June 12. Peak FOMO is in the air - when a loss-making company can go public at four times oversubscribed, snatch the crown as the biggest IPO in history and its share price still climbs 50 percent post-listing, either I am missing something, or the investing crowd has been star-struck by Elon Musk and lost their rationality.
Another common theme on YouTube is about the current AI hype. The big names in tech - Google, Microsoft, Meta and Amazon - have committed over 700 billion dollars to build out their AI infrastructure. 700 billion USD! To put that number into context, Singapore's GDP is only 660 billion USD.
This video describes the paradigm shift happening to Big Tech right now:
At this point in time, it is unclear whether sufficient AI demand will materialise to offset those huge sums of capex. There is also the question of token pricing and whether enterprises will act fast enough to adopt the service. If the AI revenue generation is lower than anticipated, those hyperscalers are due for massive write-downs on their accounting books.
Now I'm not trying to be a doomsayer here, but it is good to pay attention to the first omen of trouble if you are one of the Mag7 shareholders.
Checking in on the broad market, the S&P 500 Index lost 1.1 percent MoM. The NASDAQ 100 Index sunk 0.2 percent in June. While the local Straits Times Index climbed 2.6 percent MoM, the iEdge Singapore Next 50 Index closed 1.4 percent lower for the month. The bullish momentum seemed to have fizzled out, possibly due to the liquidity soaked up by SpaceX IPO. OpenAI and Anthropic (owner of Claude) IPOs are also in the pipeline, which will further drain out the purchasing power.
By the way, if you think SpaceX's net loss of 4.9 billion USD is bad, OpenAI's pre-IPO document revealed that the creator of ChatGPT incurred a staggering operating loss of 20.9 billion USD last year [source]. The company is forecasted to burn through huge swathes of cash till 2030.
Equity markets aside, there was another event in the fixed income space that some investors may have overlooked - the Bank of Japan hiked its benchmark interest rate to 1 percent on June 16. The last time the interest rate hit this level was 31 years ago. Economists are forecasting another 25 basis point hike before the end of this year. This means the yen carry trade has gotten more expensive. If there is any sign of reversal in the markets, it can trigger a major selloff as the traders rush to unwind.
Meanwhile, the new U.S. Federal Reserve Chairman Kevin Warsh kept the Fed Funds Rate on hold during the June 17 FOMC Meeting. The market is pricing an 88 percent probability of a rate HIKE by the end of this year, according to CME FedWatch. Could this be the final nail in the coffin for an overstretched stock market rally?
I bought more of Credit Bureau Asia this month as the stock repriced after a recent capital reduction event. Recent FY results show its business model is still intact, so I am okay to accumulate more shares in this company.
Lately, I have been asking myself why I chose to invest actively in specific stocks instead of taking the well-touted route of buying and holding diversified ETFs. I realise that I enjoy doing research on a company, finding out about its business, checking on its fundamentals and deciding whether I want to be a stakeholder or not. There is the sweet taste of success watching my buy convictions bring in money via dividends and capital appreciation. If the investment turns out to be a dud, at least I know I had followed my judgement, and it was a wrong call. There is no regret. Building your own portfolio can be intrinsically rewarding. It generates a level of satisfaction that merely investing in broad-market ETFs does not. The geek in me chows down business news for breakfast daily. Financial jargon like DDM, EBITDA and WACC do not cause my head to spin. I take an active seat in building my own wealth. I know stock picking is not for everybody, but to me, it sparks a sense of joy.
At work, my manager shared with me a piece of good news - my New Zealand-based enterprise client had signed the six-figure contract for my service. I am appreciative of their positive vote. I will do my best to support their operations over the next two years. I have also started to leverage on AI for my work. I used Claude to prepare a PowerPoint presentation on the observed 2026 trends in my industry. I used Google Gemini to generate graphics. (As they say, a picture is worth a thousand words. A well-placed image can convey meaning better than a few bullet points.) Knowing how to write an effective AI prompt is a valuable skill these days. I would like to do some vibe coding too, but there hasn't been a genuine business need yet. Haha.
At home, we submitted the Direct School Admission (DSA-Sec) application for my younger boy. In the end, we only applied to Hwa Chong Institution (HCI) and Catholic High School (CHS). We did not apply to National Junior College as I feel my son's portfolio isn't suitable for their STEM domain with a Sustainability focus. I hope the effort put in by my child over the past two years will be recognised, and that he will be granted a face-to-face interview. Whether my boy gets a Confirmed Offer, a Waitlist or a Rejection will depend on his on-site performance and his fate.
Signing off for now. Cheers!
Being quarantined at home, I had ample time to lap up financial content from YouTube. There were videos warning folks about buying into SpaceX, which debutted on the NASDAQ exchange on June 12. Peak FOMO is in the air - when a loss-making company can go public at four times oversubscribed, snatch the crown as the biggest IPO in history and its share price still climbs 50 percent post-listing, either I am missing something, or the investing crowd has been star-struck by Elon Musk and lost their rationality.
Another common theme on YouTube is about the current AI hype. The big names in tech - Google, Microsoft, Meta and Amazon - have committed over 700 billion dollars to build out their AI infrastructure. 700 billion USD! To put that number into context, Singapore's GDP is only 660 billion USD.
This video describes the paradigm shift happening to Big Tech right now:
At this point in time, it is unclear whether sufficient AI demand will materialise to offset those huge sums of capex. There is also the question of token pricing and whether enterprises will act fast enough to adopt the service. If the AI revenue generation is lower than anticipated, those hyperscalers are due for massive write-downs on their accounting books.
Now I'm not trying to be a doomsayer here, but it is good to pay attention to the first omen of trouble if you are one of the Mag7 shareholders.
Checking in on the broad market, the S&P 500 Index lost 1.1 percent MoM. The NASDAQ 100 Index sunk 0.2 percent in June. While the local Straits Times Index climbed 2.6 percent MoM, the iEdge Singapore Next 50 Index closed 1.4 percent lower for the month. The bullish momentum seemed to have fizzled out, possibly due to the liquidity soaked up by SpaceX IPO. OpenAI and Anthropic (owner of Claude) IPOs are also in the pipeline, which will further drain out the purchasing power.
By the way, if you think SpaceX's net loss of 4.9 billion USD is bad, OpenAI's pre-IPO document revealed that the creator of ChatGPT incurred a staggering operating loss of 20.9 billion USD last year [source]. The company is forecasted to burn through huge swathes of cash till 2030.
Equity markets aside, there was another event in the fixed income space that some investors may have overlooked - the Bank of Japan hiked its benchmark interest rate to 1 percent on June 16. The last time the interest rate hit this level was 31 years ago. Economists are forecasting another 25 basis point hike before the end of this year. This means the yen carry trade has gotten more expensive. If there is any sign of reversal in the markets, it can trigger a major selloff as the traders rush to unwind.
Meanwhile, the new U.S. Federal Reserve Chairman Kevin Warsh kept the Fed Funds Rate on hold during the June 17 FOMC Meeting. The market is pricing an 88 percent probability of a rate HIKE by the end of this year, according to CME FedWatch. Could this be the final nail in the coffin for an overstretched stock market rally?
 |
| Image Credit: Google Gemini |
I bought more of Credit Bureau Asia this month as the stock repriced after a recent capital reduction event. Recent FY results show its business model is still intact, so I am okay to accumulate more shares in this company.
Lately, I have been asking myself why I chose to invest actively in specific stocks instead of taking the well-touted route of buying and holding diversified ETFs. I realise that I enjoy doing research on a company, finding out about its business, checking on its fundamentals and deciding whether I want to be a stakeholder or not. There is the sweet taste of success watching my buy convictions bring in money via dividends and capital appreciation. If the investment turns out to be a dud, at least I know I had followed my judgement, and it was a wrong call. There is no regret. Building your own portfolio can be intrinsically rewarding. It generates a level of satisfaction that merely investing in broad-market ETFs does not. The geek in me chows down business news for breakfast daily. Financial jargon like DDM, EBITDA and WACC do not cause my head to spin. I take an active seat in building my own wealth. I know stock picking is not for everybody, but to me, it sparks a sense of joy.
At work, my manager shared with me a piece of good news - my New Zealand-based enterprise client had signed the six-figure contract for my service. I am appreciative of their positive vote. I will do my best to support their operations over the next two years. I have also started to leverage on AI for my work. I used Claude to prepare a PowerPoint presentation on the observed 2026 trends in my industry. I used Google Gemini to generate graphics. (As they say, a picture is worth a thousand words. A well-placed image can convey meaning better than a few bullet points.) Knowing how to write an effective AI prompt is a valuable skill these days. I would like to do some vibe coding too, but there hasn't been a genuine business need yet. Haha.
At home, we submitted the Direct School Admission (DSA-Sec) application for my younger boy. In the end, we only applied to Hwa Chong Institution (HCI) and Catholic High School (CHS). We did not apply to National Junior College as I feel my son's portfolio isn't suitable for their STEM domain with a Sustainability focus. I hope the effort put in by my child over the past two years will be recognised, and that he will be granted a face-to-face interview. Whether my boy gets a Confirmed Offer, a Waitlist or a Rejection will depend on his on-site performance and his fate.
Signing off for now. Cheers!
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