Current Return and performance
For May 2016,
The estimated holding period return for KLCI in the past period (1st May 2016 - 31st May 2016) is -2.5% (with dividend included). Holding Period return for my portfolio, is -1.49%. Total holding period return for my portfolio since the inception is -3.23%, annualized to be -0.87%, this is far lagged behind KLCI total return of 12.15% (annualized, 3.11%)
For June 2016,
The estimated holding period return for KLCI in the past period (1st June 2016 - 30th May 2016) is 2.03% (with dividend included). Holding Period return for my portfolio, is -1.84%. Total holding period return for my portfolio since the inception is -5.01%, annualized to be -0.49%, this is far lagged behind KLCI total return of 14.43% (annualized, 3.58%)
Trading Activities
1. Addition of Symphony Life 1538, the company 860 million unbilled sale will start to contribute to bottom line earning, most likely starting at next financial year.
2. Addition of MNRB (6459), it remain a tough year for MNRB as its reinsurance business suffer heavy claim and had to made large provision for foreign claim liability. However consider this, the NAV per share is current RM 6++, even if its only earn mediocre return (say like 5%) on its net asset, it will mean more than 30 sen guarantee EPS. For insurance company, there will be time where the net claim & underwriting expense of insurance exceed the total gross earn premium. However, the company should adjust the insurance premium accordingly until at the long run, the gross earn premium equal to underwriting expense + net claim. In that case, the return on the Net Asset (NAV) is almost guaranteed.
3. Addition of Maybank (1155), despite disappointing first quarter result, i remain optimistic that banking stocks are undervalued compared to other sectors and when time come for valuation adjustment, there could be room for profit.
4. Addition of Berjaya Toto (1562), with a lower entry price (around RM2.9) and a rebounce in latest quarter earning, BJ toto current valuation looks attractive again.
Other
I had to admitted that i may have made some mistake in investing in two china based stock (MSPORT and MAXWELL), i shall cover more in details when the latest corporate events are unfold accordingly.
Summary of current holding
| No | Security |
| 1023 | CIMB |
| 1066 | RHB CAP |
| 1155 | Maybank |
| 1295 | Public Bank |
| 1538 | Symphony Life |
| 1562 | BJ Totoe |
| 3069 | MFCB |
| 3719 | Panasonic May |
| 5071 | Coastal |
| 5111 | TWREIT |
| 5150 | Msports |
| 5150WA | Msports warrant |
| 5159 | YOCB |
| 5185 | Affin |
| 5189 | Maxwell |
| 5189WA | Maxwell warrant |
| 6459 | MNRB |
| 6939 | Fiamma |
| 7052 | PADINI |
| 7230 | TOMEI |
