SRS - Closing status 30 January

Added Tee International 5 lots in this week as part of usual portfolio re-balancing.  Total holding in it now at 45 lots.  Tee Intl delivered mix financial results for 2Q2014; revenue +ve 14% driven by ongoing and completed engineering projects and profit -ve 14% due to higher administrative expenses.  Higher administrative expenses was due to acquisition of Interlift Sales which also resulted in higher headcount for the group.  But really strange why the effect is only felt in Qtr 2 and no mention of this matter in Qtr 1 results.  Higher AR and other receivables due to the amount owing from subcontractors for an engineering project.  l am unsure if this really an industry norm?  It really needs to monitor its AR collections closely and be wary of domino effect which usually could have a severe financial impact. 

Portfolio walk since previous posting :-

+$6,880 Total Returns as of 17 Jan
  
-$798 Unrealised positions worsened

+$6,082 Total Returns as of 30 Jan

previous posting :- SRS - Closing status 17 Jan

Remarks :- Profits locked in to-date $12,739 / year 2014 $137