Cash - Closing Status 27 Jul

Last week movements under Cash portfolio as follows:-

IHH
I have never invested in any shares under IPO and IHH was my first time into it.  I have decided not to keep IHH and sold it off its first day of trading at a profit of $79.

Ascendas Hospitality Trust
I have managed to get 1 lot of Ascendas Hospitality Trust and have decided to sell it off on the first day of trading and suffered brokerage costs of $28.

Technics Oil & Gas
I have invested into Technics Oil 10 lots last week as l was attracted to its high dividend rate declared.  I have set the exit selling price based the dividend amount.  However, knowing that it is going XD in a week's time so l have decided to divest all of it within the week at a lower exit selling price.

Noble Group
Noble is a well diversified company (into three core areas) with the biggest segment being in energy.  And its business presence is every where in every corner of the world.  I reckon Noble is able to divert its management resources and funds easily to stay agile to business needs in order to stay profitable.  Prices of primary produce has been very volatile but l reckon this setback is only short term and by its next financial year, Noble will be back to regain its past glory.  This week, l have invested 8 lots into Nobel.

Portfolio walk since previous posting :-

-$1,738 Total Returns as of 20 Jul

+$282 Nett Gain on sales of IHH, Ascendas HT, Technics Oil

-$241 Unrealised positions worsened

-$1,697 Total Returns as of 27 Jul

previous posting :- Cash - Closing Status 20 Jul 

Technics, Money No Enough

Never mind the net profit increase 60% and revenue increase 48% y-o-y, how about rewarding its loyal shareholders with some dividends rather than allowing itself being "bullied" by suppliers and letting customers "dictating" how and when they will be billed :-

1. Other Assets increased by S$8.29 million or 25% to S$41.93 million as at 31 March 2012 from S$33.64 million as at 30 September 2011, mainly due to the subsidiary’s ship building business where costs were incurred upfront and billings can only be done upon delivery of vessels. 

2. Trade and other payables increased by S$16.08 million or 59% to S$43.41 million as at 31 March 2012 from S$27.33 million as of 30 September 2011 due to the increase in progress billings from suppliers for procurement of materials for the Group’s major EPCC and CE projects.


Technics needs to consider review progress billing policies with customer due to upfront costs incurred.  Fear of losing the customer?  By allowing progress billings from its EPCC and CE suppliers, probably it is safe to presume that suppliers have successfully demanded from Technics on upfront down-payments?

Aside from withholding dividend payment to shareholder during Qtr 1 results released, Technics recently successful with the issue and allotment of 13 million placement shares at a price of S$1.02 for each placement share in Taiwan's OTC.  With this, Technics has fully utilized net proceeds for the partial repayment of the bank borrowings of approximately S$12.7 million.

What's next, Technics?   How about issuing perpetuals bonds with retail investors?

Technics Oil skive on dividend

Technics' Q1 FY2012 net earnings increases 31% y-o-y to S$4.2 million but hey! where's the beef?  No dividend declared!

Many are expecting at least a dividend rate of $0.03 and whilst a few other (rating houses) expecting special dividend as well.

Anyway, l have collected my due (the expected dividend) in the week of 13 Jan.

Cash - Closing Status 13 Jan (continued)

Here are some details on the stocks purchased and sold under Cash portfolio this week :-


TechOil&Gas (5CQ)
Expected dividend payment in February and interim dividend amount estimates of $270 for 9 lots.
To get advance payment on the dividend, sold 9 lots (in January) at nett gain amount of $305.
Future plan to re-invest when stock price is weaker so, a possible cycle of the above.


Latitude (5OY)
Expected dividend payment in March and interim dividend amount estimates of $140 for 10 lots.
To get advance payment on the dividend, sold 10 lots (in January) at nett gain amount of $144.
No immediate future plan to re-invest in this stock.



LippoMalls (D5IU)
Expected dividend payment in March and interim dividend amount estimates of $355 for 32 lots.
To get advance payment on the dividend, sold 32 lots (in January) at nett gain amount of $342.
Future plan to re-invest when stock price is weaker so, a possible cycle of the above.



SuntecReit (T82U)
Expected dividend payment in March and interim dividend amount estimates of $13 to $24 for 4 lots.
To get advance payment on the dividend, sold 4 lots (in January) at nett gain amount of $25.
No immediate future plan to re-invest in this stock.



HTL Int (H64)
Expected dividend payment in May and interim dividend amount estimates of $480 for 12 lots.
To get advance payment on the dividend, sold 12 lots (in January) at nett gain amount of $486.
Future plan to re-invest when stock price is weaker so, a possible cycle of the above.


K-REIT (K71U)
Bought 5 lots in time for interim dividend going ex-date end January.  Will sell stock earlier than scheduled if price hits estimated interim dividend amount otherwise hold till next review during subsequent dividend ex-date in July month.


OKP (5CF)
Was planning to sell entire 3 lots holding.  But wrongly entered sell queue as buy queue at higher price.  So, l have doubled my holding on this stock at 6 lots due to mistake. Will sell stock earlier if price hits estimated interim dividend amount before ex-date in May month otherwise hold till next review during subsequent dividend ex-date in August month.


Keong Hong (5TT)
Bought 35 lots for its dividend ex-date in February.  Will sell stock earlier if price hits estimated dividend amount otherwise hold for selling into strength at break-even.  This is a risky counter during this weak property outlook for Singapore.  But am hoping that it is still able to shine as its business activities covers a broad range of building construction services not just for residential but also for commercial, industrial and institutional projects.  I will be extremely cautious to go long on this company as its income statement seems so bad with very thin profit margin.

related posting :- Cash closing Status 13 Jan

Cash - Closing Status 30 Dec

Sold Ocean Sky 20 lots.  Queued to sell 22 lots but only 20 lots was sold so what will l do with the remaining 2 lots on Ocean Sky .....

I have bought into Ocean Sky (on 15 Dec) after its ex-dividend date so l would have to wait till its next dividend payment in May 2012.  Based on Ocean Sky 22 lots and from its 2011 dividend payout, l would have gotten a gross dividend of  $350.  Selling the whole of 22 lots at the price which l have gotten for 20 lots at $0.133 would have given me a $340 nett gain (after clearing fee, etc.).   On 20 lots, the investment cost was $2325 and with the gain of $306 this equals to annualised rate of 13.2%.  I am not into punting so l will not loose sleep over it if its price going higher in the coming days or weeks ahead.  l have received a so-called retrospective dividend payment so this is really a bonus. 

The whole of this week, only managed to sell into strength on Ocean Sky but not other counters on my to-sell list; which goes to show overall market mood is still quite pessimistic. 

The stocks counters of five largest funds allocation are still the same as last week's.  Figure in bracket was previous posting's number. Five big stocks in their biggest funds allocation order are :-LippoMalls 16% (15%), CitySpring 8% (7%), Tech Oil & Gas 10% (10%), Suntec Reit 6% (6%) and FSL 8% (8%) totaling to 48% (47%) of the overall Cash portfolio.

 previous : Cash - Closing Status 23 Dec

Cash - Closing Status 16 Dec (unrealised stocks status)

Added Tech Oil & Gas 4 lots, HTL Int 6 lots, Ocean Sky 22 lots, LippoMalls 9 lots.

Sold SingTel 0.500 lots.

I hope to sell these counters next, which failed the annual dividend target based on a 100% funds allocation test - Mapletree Ind, First Reit, Cache, SingPost, Starhill Global, STXPO, Suntec Reit.  Restructuring and reallocation of portfolio is necessary so as to maximize (dividend) returns due to limited funds.  Selling these counters now would means suffering losses so, l will wait for better prices.

Most difficult to sell is STXPO of 0.1 lots, which was purchased in June 2008 and from past records which l managed to retrieve it was subject to share consolidation in Dec 2008.  Selling STXPO now means a loss of $2.2k!  STXPO will be in my to-sell list for the longest time.

Five big stocks in their biggest funds allocation order are LippoMalls 12%, CitySpring 8%, Tech Oil & Gas 8%, Suntec Reit 7% and FSL 7% totaling to 41% of the overall Cash portfolio. Suntec Reit will soon be removed from this five big stocks and be replaced by LippoMalls, CitySpring and Tech Oil & Gas.



previous post :-

Cash - Closing Status 09 Dec