My Investment Record (37) - 1st May 2018 - 30th September 2018

Current Return and performance

For May 2018, 

The estimated holding period return for KLCI in May (1st May 2018 - 31st May 2018) is -6.68% (with dividend included). Holding Period return for my portfolio, is 3.7%. Total holding period return for my portfolio since the inception is 30.5%, annualized to be 4.74%, this outperforms KLCI total return of 28.42% (annualized, 4.45%) 

For June 2018,

The estimated holding period return for KLCI in the past period (1st June 2018 - 30th June 2018) is  -2.54%(with dividend included). Holding Period return for my portfolio is -0.3%. Total holding period return for my portfolio since the inception is 30.11%, annualized to be 4.62%, this outperforms KLCI total return of 25.15% (annualized, 3.92%) 

For July 2018,

The estimated holding period return for KLCI in the past period (1st July 2018 - 31st July 2018) is 5.77% (with dividend included). Holding Period return for my portfolio is -1.54%. Total holding period return for my portfolio since the inception is 28.11%, annualized to be 4.28%, this underperform KLCI total return of 32.38% (annualized, 4.85%) 

For Aug 2018,

The estimated holding period return for KLCI in the past period (1st Aug 2018 - 31st Aug 2018) is 2.26% (with dividend included). Holding Period return for my portfolio is -1.56%. Total holding period return for my portfolio since the inception is 26.11%, annualized to be 3.94%, this underperform KLCI total return of 35.37% (annualized, 5.18%) 

For Sep 2018,

The estimated holding period return for KLCI in the past period (1st Sep 2018 - 30th Sep 2018) is  -1.19%(with dividend included). Holding Period return for my portfolio is -4.48%. Total holding period return for my portfolio since the inception is 20.46%, annualized to be 3.11%, this outperforms KLCI total return of 33.76% (annualized, 4.90%) 

Trading Activities

1. Addition of HLFG (1082)

At the time of buying, HLFG was trading at P/E ratio of around 11, the EPS growth by 20% compared to the previous year, these are good reasons to add more. 

2. Addition of  Public Bank (1295)
Same with HLFG, public bank had been recorded stable growth of earning while the P/E was around 16. 

3.Disposal of BJTOTO (1562).

At one moment after GE14, BJToto Price shoots up to RM2.47, I took the opportunity to reduce the holding in my portfolio. 

4. Disposal of  BAT  (4162)
Similar to BJTOTO, BAT price rebounced after GE14 due to temporary abolish of GST, thus i took the opportunity to reduce the holding before the implementation of SST which brings uncertainty to future earning.

5 Addition of Symphony Life (1538)
Looking back in hindsight, the additions were right decision execute at the wrong timing. 
Good things about symphony life
- unbilled sales stand around 915 millions, this guarantee source of profit for next few years
- Undeveloped land at Sungai Long near East Klang Valley Expressway that can be readily developed into township which is highly demanded around klang area. 

However, due to phasing of the projects, Symphony is at the stage where the company is highly tight on cashflow to fund the project development. Thus recently it call for rights issues to raise fund.
Malaysia investors mostly view rights issues as negative as it required the existing shareholders to fork out more capitals for the stock and probably send a signal that the company (issuing rights) will have cashflow problems and unable to distribute dividends in near future.

Thus the addition is best to be done after the rights exercise completed.
The wrongly executed timings will cost me several ten thousands and dragged my whole portfolio performance down for a while. 

My Investment Record (36) - 1st Feb 2018 - 30th April 2018

Current Return and performance

For Feb 2018, 

The estimated holding period return for KLCI in the July (1st Feb 2018 - 28th Feb 2018) is -0.40% (with dividend included). Holding Period return for my portfolio, is -0.26%. Total holding period return for my portfolio since the inception is 30.66%, annualized to be 4.98%, this underperform KLCI total return of 35.85% (annualized, 5.73%) 

For March 2018,

The estimated holding period return for KLCI in the past period (1st March 2018 - 31st March 2018) is 0.65% (with dividend included). Holding Period return for my portfolio, is -0.50%. Total holding period return for my portfolio since the inception is 30.01%, annualized to be 4.81%, this  under perform KLCI total return of 36.74% (annualized, 5.76%) 

For April 2018,

The estimated holding period return for KLCI in the past period (1st April 2018 - 30th April 2018) is 0.63% (with dividend included). Holding Period return for my portfolio, is -3.2%. Total holding period return for my portfolio since the inception is 25.84%, annualized to be 4.14%, this underperform KLCI total return of 37.61% (annualized, 5.80%) 

Trading Activities

1. Disposed of CIMB (1023)

At the price of selling (> RM 7.2), i dont think CIMB had the buffer to absorp any cyclical downturn, like how its profit & shareprice performed in past 4 years. Thus selling at the peak become the option.

2. Addition of  Berjaya Toto (1562)
At the time of writing, BJToto has estimated EPS of 20 sen and Dividend per share of 16 sen. This make current price level (ard RM2.1) attractive. You are buying into a stock with low PE (< 12) and high dividend yield (> 7%), eventhough the growth potential is weak, its still a good deal. 

3. Addition of BAT (4162).
This in part is speculating. The stocks had been declining to historical low (close to RM 25) in a sense that it is being oversold. I am entering at the time hoping it will bounce back later.

4. Addition of  FIAMMA  (6939)
Low PE (ard 10), property project completing which should boost the profit. Safe bet when its price is low. 

My Investment Record (35) - 1st Jan 2018 - 31st Jan 2018

Current Return and performance

January is a particular good month for the stock investor. KLCI went up from 1796.81 to 1868.58, netting a estimated holding period return of 4.27% (with dividend included). Bank Negara raised the key interest rate by 25 bp to 3.25% on 24th Jan 2018. This expect to help the performance of banking stock, which account for 40% of my portfolio. 

Holding Period return for my portfolio, is 5.35%. Total holding period return for my portfolio since the inception is 31.%, annualized to be 5.11%, this still underperform KLCI total return of 36.40% (annualized, 5.9%) 

As KLCI slowly climb back to the 2014 level before the oil price & ringgit crash, i believe the biggest uncertainty for the year will be concentrate around the outcome of General Election 14. Until the result of GE14 become clear with forming of a stable government, i will avoid fully invested into the market, keeping as much spare cash as possible. 

Trading Activities

Addition of BAT (4162) at price around RM 32.5

BAT's share price fall because of two reasons, 
1. declining legal cigarette market due to increase excise duty 
2. Removal of the stock from KLCI index, causing some investors holding it as part of the KLCI to sell it. 

With no further action by the government to further limit the legal cigarette consumption, i believe revenue & profit for BAT will be stable in the near term, which make the valuation (around P/E 16 and dividend rate of 6%) attractive at the price i add in. 

My Investment Record (34) - 1st Jul 2017 - 31st Dec 2017

Current Return and performance

For Jul 2017, 

The estimated holding period return for KLCI in the July (1st July 2017 - 31st July 2017) is 0.07% (with dividend included). Holding Period return for my portfolio, is -2.42%. Total holding period return for my portfolio since the inception is 27.55%, annualized to be 5.07%, this slightly outperform KLCI total return of 26.38% (annualized, 4.88%) 

For Aug 2017,

The estimated holding period return for KLCI in the past period (1st Aug 2017 - 31st Aug2017) is 1.02% (with dividend included). Holding Period return for my portfolio, is 0.21%. Total holding period return for my portfolio since the inception is 27.82%, annualized to be 5.03%, this is outperform KLCI total return of 27.67% (annualized, 5.01%) 

For Sep 2017,

The estimated holding period return for KLCI in the past period (1st Sep 2017 - 30th Sep 2017) is -0.72% (with dividend included). Holding Period return for my portfolio, is -0.47%. Total holding period return for my portfolio since the inception is 27.21%, annualized to be 4.85%, this outperform KLCI total return of 26.76% (annualized, 4.78%) 

For Oct 2017,

The estimated holding period return for KLCI in the past period (1st Oct 2017 - 31st Oct 2017) is -0.16% (with dividend included). Holding Period return for my portfolio, is -1.68%. Total holding period return for my portfolio since the inception is 25.08%, annualized to be 4.43%, this underperform KLCI total return of 26.56% (annualized, 4.66%) 

For Nov 2017,

The estimated holding period return for KLCI in the past period (1st Nov 2017 - 30th Nov 2017) is -1.44% (with dividend included). Holding Period return for my portfolio, is -2.31%. Total holding period return for my portfolio since the inception is 22.19%, annualized to be 3.89%, this underperform KLCI total return of 24.73% (annualized, 4.3%) 

For Dec 2017,

The estimated holding period return for KLCI in the past period (1st Dec 2017 - 31st Dec 2017) is 4.88% (with dividend included). Holding Period return for my portfolio, is 1.76%. Total holding period return for my portfolio since the inception is 24.34%, annualized to be 4.17%, this underperform KLCI total return of 30.82% (annualized, 5.17%) 

Trading Activities

1. Addition of RHBCAP (1066) 
2. Addition of Hong Leong Financial Group (1082)

3. Addition of Public Bank (1295)

I like banking groups due to stability of their business, and HLFG, RHBCAP, Public Bank currently have PE ratio lower than KLCI, as i'm still positive on Malaysia Economic Growth, invest in these banking group become my choice. 

4. Addition of  Berjaya Toto (1562)
At the time of writing, BJToto has estimated EPS of 20 sen and Dividend per share of 16 sen. This make current price level (ard RM2.3) attractive. 

5. Disposed PANAMY (3719) at RM 38.3.
I think the company is well managed. However P/E at time of disposal is too high (ard 20) for a manufacturing stocks. Strengthening of ringgit is expected to have negative impact on the earning as well.

6. Addition of BAT (4162).
This in part is speculating. The stocks had been declining to historical low due to declining legal cigarette market. However as dividend is still ok (ard RM 2 per share), Entering now may get a chance to gain once the stock (and legal cigarette market) regain later.

Summary of Current Holding:

No	Security
1023	CIMB
1066	RHB CAP
1082	HLFG
1155	Maybank
1295	Public Bank
1538	Symphony Life
1562	BJTOTO
3069	MFCB
4162	BAT
5071	Coastal
5111	TWREIT
5150	Msports
5150WA	Msports warrant
5159	YOCB
5185	Affin
5189	Maxwell
5189WA	Maxwell warrant
6459	MNRB
6939	Fiamma
7052	PADINI
7103	SPRITZER