Portfolio Update - May 2020

It's end of May, so time for another portfolio update.

See: Link to Main Portfolio page

Contents:

1. Portfolio (31 May 2020)
2. Transactions and Dividends
3. Closing Thoughts
   

Portfolio (31 May 2020)

Performance

Some commentary on my portfolio

• Lendlease REIT had quite a bit of recovery, but still quite some ways off pre-Covid-19 price.
• More than half of the portfolio consists of the war chest now, which I will increase by SGD 300 for the month of June 2020.
• Fu Yu Corp has yet to gone cum-dividend due to the delay in AGM. I'm presuming it will go CD and XD in the month of July or August 2020, and this proceeds will again, be added to the warchest.

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Transactions and Dividends 

(a) Transaction Summary

• No transaction for the month of May 2020.

(b) Dividend Summary

• No dividend declared/received for the month of May 2020

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Closing Thoughts
Singapore is starting to ease Circuit Breaker and we will begin Phase 1 of reopening on 2 June 2020. But what interests me more is Phase 2, where further easing is done.

Read: Gov.sg - Ending circuit breaker: phased approach to resuming activities safely


There is a chance we may enter Phase 2 earlier, which will allow dining in at F&B establishments albeit with safety measures, as well as small group social gathering, and that may further soften the impact of Covid-19 on Retail / F&B establishments a little more. It is conditional to stability in community cases and I keep my fingers crossed this will be the case.

It is also heartening to know further support will be granted to employees and businesses alike with the Fortitude Package.

Read: Gov.sg - A summary of the Fortitude Budget 2020

On the market, I was surprised at the rally to a number of S-REITs on 29 May 2020. I can understand the MSCI Singapore Index inclusion for Mapletree Logistic Trust, but I have yet to understand the reasoning behind rally on the non blue-chip S-REITs (Can anyone shed a light why?).

For now, I remain on the sideline figuring out what to put my warchest into. A number of stocks I am watching has gone some ways up in pricing and I am figuring out if there are more attractive ones I can buy into, or if we will see some corrections to keep stock prices rangebound in the months to come. I will also keep an eye out for further financial impact to businesses.

Lastly, I hope everyone stay safe. Let us practise social responsibility to the best of our abilities as we all have a part to play towards recovery from Covid-19.

Portfolio Update - April 2020

It's the end of the month once more, and you know what that means on my blog - a portfolio update for the month of April 2020.

I have been preoccupied with work and some personal matters, and been needing a mental break to recharge, so I had not written anything for the month of April 2020, until now. Even for this portfolio update, I am keeping it brief (might as well, since not much to observe besides watching Covid-19 runs its course).

See: Link to Main Portfolio page

Contents:

1. Portfolio (30 April 2020)
2. Transactions and Dividends
3. Closing Thoughts
   

Portfolio (30 April 2020)

Performance

Some commentary on my portfolio

• Besides Lendlease REIT, all other counters saw some recovery, though nowhere near pre-crash.
• I decided to sell off CMT on 30th April after some thinking. 
• Fundamentally, it should recover eventually, and the merger with CapitaCommercial Trust will moderate the impact to retail somewhat, but recovery is probably still some ways off.
• Technically, there was a triple top with resistance at ~SGD 1.90. It should stay range-bound (1.7x-1.9x) for a while. Probably at least until the merger is completed?
• I am taking some profits off the table, but it is still on my watchlist as investment, and may buy in again if it hits mid SGD1.7x or lower.

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Transactions and Dividends 

(a) Transaction Summary

• Sold 2000 units CMT at SGD1.89 each (Net Profit ~SGD 80)
• Cash from payout (SGD 600) and sale of CMT (~SGD3720 after deducting brokerage fee) is added into warchest.

(b) Dividend Summary

• No dividend received for the month of April 2020
• No dividend declared for the month of April 2020 (CMT was sold off)

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Closing Thoughts
It remains my opinion we will not see V-shape recovery. The damage done by Covid-19 is extensive, even with support to business from the government and prudence exercised to weather the storm.

As with my closing of portfolio update in March 2020, continue to get lock and loaded, and to accumulate if you see solid stocks at good prices. Stay well, guys!