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Sunday, 20 January 2013

SRS - Closing Status 18 Jan

For my SRS portfolio this week l have added Sing Investments 7 lots. 

Its 9M2012 results was 6.2% lower versus year ago due to erosion of interest margin from the intense competition in the lending sector and also the prolonged low interest rate environment.  To counter this Sing Inv reduces staff bonus provisioning in order to reduce its operating expenses.  However pat is still lower comparing it to year ago, because of $8m bad loans write-back during 9M2011; otherwise pat for 9M2012 will be flat versus 9M2011.

Sing Inv pays dividends only once in each year.  It reduced dividend rate by $0.03 in 2011 when full year revenue and profit before impairment losses dropped by 25% and 40% respectively.   Still I am hoping for Sing Inv to maintain its dividend rate same as last year at $0.07 so that l can get 5.0% yield based on my investment cost in it this week.  Its share price is not far away from its 52 weeks low so l am also hoping that this is already the floor and any further downside from current price level is limited.

Portfolio walk since previous posting :-

+$4,818 Total Returns as of 11 Jan

-$29 Unrealised positions worsened

+$4,789 Total Returns as of 18 Jan

previous posting :- SRS - Closing status 11 Jan

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