SRS - Closing Status 21 Dec

In this week for my SRS portfolio I have sold off QAF 3 lots for a nett gain of $48.  Its next dividends is very far away, with XD date in May'13 and it is estimated to be at dividend rate of $0.04.  For 3 lots and at dividend rate of $0.04 l am targeting to get an advance dividends of $120.  With this week nett gain of $48, l will still have 60% to-go to achieve the advance dividends of $120.

Its final quarter or full year results is expected to be released end of Feb'13.  And it is likely to be a set of bad results. For nine months, its revenue came in flat versus year ago; profit was off by 47% compare to previous year.  Should QAF issue a profit advisory statement prior to its full year results in Feb'13?  Well, it did so already during 3Q12 results release whereby it lamented over volatility of raw material prices, regional markets and economies in the next twelve months and hence profit level for FYE 2012 will be lower.  Hence QAF will either maintain final dividend rate of $0.04 but l do expect it to lower it to $0.03 or much lower.

Portfolio walk since previous posting :-

+$3,509 Total Returns as of 14 Dec

+$48 Gain on sales of QAF

+$60 Unrealised positions improved

+$3,617 Total Returns as of 21 Dec

previous posting :- SRS - Closing status 14 Dec

SRS - Closing Status 16 Nov

Under SRS portfolio this week, l have added QAF 3 lots.  Not sure whether l have gone in too early to re-invest into QAF within the same week its poor 3Q12 results.   Its share price drop saw a significant drop (8.12% or $0.065) a day after its 3Q12 results but its share price drop seems to have slowed as of Friday's market close.  I do not think there is any fundamental issue with QAF but it's just like any other companies releasing poor results around the same time in Oct/Nov.

I have invested into Cache Logistics 3 lots in this week under SRS portfolio.  If Cache continues to pay dividends at annual rate of $0.08 then this represents 10.8% returns based on my invested funds.  Cache is currently enjoying 100% occupancy in both master and multi-tenanted leases.  2% of its leases portfolio are expiring in year 2013.  And even if there is failure on the 2% leases renewals then this is easily covered by annual rental hike of between 1.25% to 2.5%.

Portfolio walk since previous posting :-

+$1,871 Total Returns as of 9 Nov

-$1,329 Unrealised positions worsened

+$542 Total Returns as of 16 Nov

previous posting :- SRS - Closing status 9 Nov

Cash - Closing Status 3 Aug

Sold off my positions in Noble Group, Goodpack, Karin and QAF this week under the Cash portfolio.

QAF
I have set the exit selling price on QAF at an anticipated dividend rate of $0.01 for minimal gain of $150 on 15 lots.  Based on previous years, the timing of XD would be in early Sept month.  But as its share price already moved up to my exit selling price so there is no reason to hold back from selling away my 15 lots.  l have managed to sell it off at a higher exit selling price of a gain of $226 so it is an advance payment on the dividend and at a higher dividend payout rate too.

Karin
I am not sure how the recent slowdown in the China economy would impact Karin's business there so l have decided to divest the entire 8 lots in this week at a lower exit selling price than the original target at $0.27 or higher for a $38 gain.  I will be looking into its future financial results releases to assess its business health before deciding  on reinvestment to it.

Noble Group
I have booked a $98 gain on Noble this week on 8 lots.  Will reinvest into Noble if its price weakens again.

Goodpack
On Goodpack, l have anticipated its yet-to-be annnounced dividend rate at $0.03 which would be the same as in 2011.  In this week, l have managed to get an advance dividend payment on Goodpack when l have sold it all away for a gain of $199 which is slightly higher than the assumed dividend amount of $180 (6 lots x $0.03).  If its share price weakens again to an attactive level then l would consider re-investing in it.  This is because Goodpack seems able to grow both its revenue and profit even when the world economies are facing challenging times now.

Portfolio walk since previous posting :-

-$1,697 Total Returns as of 27 Jul

+$560 Gain on sales of Noble Group, Goodpack, Karin, QAF

+$364 Unrealised positions improved

-$773 Total Returns as of 3 Aug

previous posting :- Cash - Closing Status 27 Jul 

SRS - Closing Status 3 Aug

I have set the exit selling price on QAF at an anticipated dividend rate of $0.01 for minimal gain of $80 on 8 lots.  And in this week l have managed to sell it off at a slightly higher exit selling price of a gain of $100.

Portfolio walk since previous posting :-

+$74 Total Returns as of 20 Jul

+100 Gain on sales of QAF

+$118 Unrealised positions improved

+$291 Total Returns as of 3 Aug

previous posting :- SRS - Closing status 20 Jul

Cash - Closing Status 20 Jul

Foreland Fabritech
Ever since l have started being serious with stock market back in Sep'11 (10 months ago) l have suffered huge losses three times under Cash portfolio.  The third time is the most significant and it is concerning Foreland Fabritech.  I was attracted into Foreland because of its better profit warning on 14 Feb and because of this l was blinded by the anticipation of higher dividends.  A week after l have invested into Foreland then came the disappointment of a lower dividend rate announced on 28 Feb.  Its share price came crashing down in the immediate next two days on 29 Feb and 1 Mar.  Foolish me, l have averaged down twice in Mar'12 and May'12.  It was the last straw when it announced a lower profit warning on 17 Jul and l have on the next day immediately executed a divestment of the entire 97 lots at a significant loss of $4,329!!!   As of Friday's last done price of $0.055 and if l am still holding on to the entire 97 lots then l will be poorer by $670 and it will be a paper loss of $5k but since l have fully divested so l will learn from it.  It is indeed timely that l have updated my investment strategy to exclude investing into companies having significant businesses in China.  There are many local Singapore companies with significant exposure to China market and l reckon they too will suffer in terms of expensive and escalating business costs which outstripped productivity.

IHH
Managed to get 1 lot of IHH Healthcare from the IPO.

Goodpack
For the past nine months both revenue and profit were growing at double digit and have healthy balance sheet and cash flow too.  However, logistic and handling costs stayed stubbornly high which Goodpack not seems able to reign it in, yet.  Goodpack is exposed to Europe but so far, there is no mention of it being a hinder so, finger crossed that it stays the same when it announced its final quarter results in a month's time.  l am hoping for Goodpack to declare a dividend rate of $0.03 when full year results is announced in Aug'12.  Its share seems oversold at the moment and further weakness will be an opportunity for me to accumulate further.

QAF
I have wanted to invest into QAF for quite some time so, l bought 15 lots of it this week.  I am anticipating a similar dividend rate of $0.01 which possibly XD in early Sep month.  This anticipated XD rate is same as paid in 2010 and 2011.  Its share seems have been in oversold territory now.  It is likely to stay in this oversold position next week if the general market condition stays weak.

Portfolio walk since previous posting :-

-$569 Total Returns as of 6 Jul 

-$4,329 Loss on sales Foreland Fabritech

+$3,160 Unrealised positions improved (mainly due to divestment on Foreland)

-$1,738 Total Returns as of 20 Jul

previous posting :- Cash - Closing Status 6 Jul 

SRS - Closing Status 20 Jul

Under the SRS portfolio this week, l have invested into both Nobel Group and QAF.

I have wanted to invest into QAF for quite some time so, l bought 8 lots of it this week.  I am anticipating a similar dividend rate of $0.01 which possibly XD in early Sep month.  This anticipated XD rate is same as paid in 2010 and 2011.  Its share seems have been in oversold territory now.  It is likely to stay in this oversold position next week if the general market condition stays weak.

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 20 lots into Nobel.

Portfolio walk since previous posting :-

+$203 Total Returns as of 6 Jul
 
-$129 Unrealised positions worsened

+$74 Total Returns as of 20 Jul

previous posting :- SRS - Closing status 6 Jul