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Sunday, 25 November 2012

SRS - Closing Status 23 Nov

For my SRS portfolio this week I have queued to invest into Technics Oil & Gas and to my dismay only 1 lot was successful.  This is indeed terrible as as this would mean l am not able to spread out brokerage fees.  So within the same week l have sold it off at break even (small gain of $4).  I have invested into Technics as l am confident it will report a good set of results this week as also its share price level was attractive then.  After l have invested into it at 1 lot then it did report a good set of results but it did not declare any dividends which is same as reporting period last year.  I will be watching  its gross profit margin closely as 4Q12 (30.5%) seems deteriorated versus 3Q12 (47.6%) which it had blamed on mix.  Profit in 4Q12 was higher primarily because of gain on dilution in interest of  Norr Offshore Group and gain from disposal of vessels.  It attributed lower AR due to prompt payments by customers but l do hope the $1.15 million charge on the additional provision made on for its troubled associate company is a one-time off thing and there are no other bad AR.  Which is why it provided a caution in its 12 month outlook on the extent of the global credit crunch which has impacted the world's major economies (and hence customers?).  On its secured borrowings which is repayable within one year, it has gone up to $25 million in 4Q12 versus $10 million in 3Q12.  Anyways, l do not think it is cracking up soon so l will re-invest into it when its share price is at lower levels again.

I have sold off Cache Logistics 3 lots after only having it for just one week.  Its expected dividend rate is $0.02102 for XD around end Jan'13 and for 3 lots l would be getting $63 dividends.  But l prefer to get 50% as advance dividends now at a gain of $32 from its disposal this week.

I have queued for telecommunication stocks this week.  Got into Starhub 2 lots and SingTel 2 lots but both seems to be under selling pressure the whole of last week.  In coming weeks l do hope their share prices would improve.

Also under SRS portfolio this week l have re-invested into GRP 15 lots after having sold it all away under Cash portfolio in the 9 Nov week.

Portfolio walk since previous posting :-

+$542 Total Returns as of 16 Nov

+$36 Gains on sales of Technics Oil&Gas and Cache Logistics

+$1,261 Unrealised positions improved

+$1,839 Total Returns as of 23 Nov

previous posting :- SRS - Closing status 16 Nov

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