My investment record (43) August-2019

The estimated holding period return for KLCI in the  Aug-2019 is -1.09%  (with dividend included). Holding Period return for my portfolio, is -2.18%. Total holding period return for my portfolio since the inception is 19.8%, annualized to be 2.61%, this underperform KLCI total return of 23.19% (annualized, 3.02%) 

Trading Activities
1. Addition of AmBank (1015)
2. Addition of RHB (1066)
3. Addition of HLFG (1082)
The banking stocks were dumped by the investor in anticipating of another round of OPR cut by BNM, despite the fact that their earning remain strong with PE less than 10, and dividend yield getting attractive which range from 3-5%. 

4. Reduce Holding of BJToto (1562)

Stock with good dividends, however, the price at a recent peak with limited upside potential (as government reduces the number of special draws). Sell some to place the bet on alternative choices

5. Buying Heineken Malaysia (3255)

I was looking into buying some consumer stock for my portfolio, then I came across Heineken Malaysia with good dividend yield, but price cheaper compare to its rival (Carlsberg). 

6. Addition of Takaful (6139)

The good stock recently falls from its recent peak, however, bought it too soon. Should have wait till end of the month where its price dropped further. 

7. Addition of Padini(7052)
Company in a apparel industry under good management, and it seldom sell cheap

8. Buying of RCE Capital (9296)

 Although it dealing with the most riskier sector of the loan (consumer credit and personal loan), its target customer base (mainly government servant) provide them enough buffer. I continue buying at a low P/E ratio. Its recent financial performance show increasing revenue and profit, which is a good sign. 

My investment record (42) July-2019

The estimated holding period return for KLCI in the  July-2019 is -1.94%  (with dividend included). Holding Period return for my portfolio, is -0.63%. Total holding period return for my portfolio since the inception is 22.55%, annualized to be 2.98%, this underperform KLCI total return of 25.55% (annualized, 3.34%) 

Trading Activities
1. Addition of PB Bank (1295)
Good stock fall due to potential escalation of US/China trade war which may force BNM to raise interest rate. 
Added in as dividend rate now better than FD

2. Reduce Holding of BJToto (1562)

Stock with good dividends, however price at recent peak with limited upside potential (as government reduce number of special draws). Sell some to place the bet on alternative choices

3. Disposal of Msports (5150)
Time to cut loss, lesson learned? never trust the accounting book of China company audited by Singaporean Auditing Firm. And shame on bursa for unable to protect investor interest 

4. Continue addition of Tune Protection (5230)

I found this article  a good read on why the company's profit fall in the past, which also highlighted rooms where the company can do better in the future. From other perspective,  insurance industry will be on continue growing mode, and it will be a steal to acquire Tune Protect at a P/E ratio of less than 11. 

5. Addition of Padini(7052)
Company in a apparel industry under good management, and it seldon sell cheap

6. Buying of RCE Capital (9296)
I bought & sold the share before few years back. It seems that since 2016, the company transformed where its revenue, profit and dividend on growing mode since then. Although it dealing with the most riskier sector of loan (consumer credit and personal loan), its target customer base (mainly government servant) provide them enough buffer. i am Testing market by buying at low P/E ratio. 

My investment record (41) June-2019

The estimated holding period return for KLCI in the  June-2019 is 1.59%  (with dividend included). Holding Period return for my portfolio, is 0.92%. Total holding period return for my portfolio since the inception is 23.28%, annualized to be 3.11%, this underperform KLCI total return of 28.03% (annualized, 3.68%) 

Trading Activities
1. Addition of HLFG (1082)
To sum it up, with dividends closer to FD and P/E ratio around 10-12, HLFG is a better bet than FD in the long run. 

2. Reduce Holding of BJToto (1562)
Stock with good dividends, however, the price at a recent peak with limited upside potential (as government reduces the number of special draws). Sell some to place the bet on alternative choices

3. Buying of Tune Protection (5230)

I found this article  a good read on why the company's profit fall in the past, which also highlighted rooms where the company can do better in the future. 

from another perspective, the insurance industry will be on continue growing mode, and it will be a steal to acquire Tune Protect at a P/E ratio of less than 11. 

My investment record (40) May-2019

The estimated holding period return for KLCI in the  May-2019 is 0.81%  (with dividend included). Holding Period return for my portfolio, is -1.74%. Total holding period return for my portfolio since the inception is 22.16%, annualized to be 3.01%, this underperform KLCI total return of 26.03% (annualized, 3.49%) 

Trading Activities
1. Addition of HLFG (1082)
2. Addition of Affin (5185)
To sum it up, with dividend closer to FD and P/E ratio around 10-12, these stocks are better bet than FD in the long run. 

3. Disposal of BAT (4162)
Surprise Earning Drop coupled with challenging outlook, hence decided to exit my position and deploying the capital to other places. 

4. Addition of airasia (5099)
At one point Airasia price fall like crazy (RM2.45) before recent special dividend announcement. Good to buy in at that price. 

5. Bought some Astro (6399)

Earning is expected to bounce back after world cup year, current P/E ratio of around 10-13 is ok. Dividend Yield (6-7%) is good. Recent move to lease new transponders is positive to their earning starting 2022. 

6. Addition of MNRB (6459)

Although it seem the management unable to further grow the re-insurance business and profit, price at bought in (RM0.94) is way too low compare to their NAV (ard RM 2.5)

7. Disposal of Spritzer (7103)

Stagnant profit for past 2.5 years since bought. Decided to redeploy the capital else where. 

8. Addition of  LPI (8621)

Good stock. Price is at 2 year low when bought in. 

Snapshot on current portfolio (excluding No of stocks holds)

My Investment Record (39) - 1st February 2019 - 30th April 2019

Current Return and performance

For Feb 2019, 

The estimated holding period return for KLCI in the Feb-2019 is 1.73% (with dividend included). Holding Period return for my portfolio, is 3.82%. 

For Mar 2019,

The estimated holding period return for KLCI in the Mar-2019 is -3.47%(with dividend included). Holding Period return for my portfolio, is -2.43%. 

For Apr 2019,

The estimated holding period return for KLCI in the Apr-2019 is 0.22% (with dividend included). Holding Period return for my portfolio, is 2.28%. Total holding period return for my portfolio since the inception is 24.32%, annualized to be 3.32%, this underperform KLCI total return of 25.02% (annualized, 3.41%) 

Trading Activities

1. Addition of AmBank (1015)

2. Addition of CIMB (1023)

3. Addition of RHB Bank (1066)

4. Addition of HLFG (1082) 
5. Addition of Public Bank (1295)
6. Addition of Affin Bank (5185)

Except PB bank, all other banks were trading at P/E Ratio around 10-12 at the time when i bought in. Despite recent BNM decision to cut OPR rate by 0.25%, I am betting the effect of rate cut already priced in in current share price and with stable earning, consistent dividend rate characteristics these stocks were safer bet compared to others

7. Selling of Maybank (1155)
Simply because of Hyflux, if Maybank loss in hyflux loan arrangement is fully accounted for, this will reduce the EPS for maybank by magnitude of 20-30% for this year, which is not reflected in current share price yet.

8. Reduce holding in BJTOTO (1562)
I still operate by the logic explained in my previous investment record. Share price was good (ard RM2.6) at time of selling.

9. Bought some airasia (5099)
Reasons i'm reluctant to add airline stocks earlier
- they typically has huge CAPEX cost, and operate in a market that tend to be overcapacity
- their biggest cost uncertainty is on fuel price, which is highly volatile.

Things that work in favor for Airasia in next two years
- They sold and lease back majority of their aircrafts with outside investor group, this allow them to operate light in asset (and debt) in a market where their major competitor (MAS, and other airlines flying Boeing 737 MAX) are retreating.
- They hedged about half of their fuel cost for 2019 & 2020.

10. Bought some Takaful (6139)
Insurance company operate in a market (Takaful) with higher potential to growth than general insurance market. My biggest mistake was didnt bought it earlier in larger quantity

11. Bought some LPI (8621)
i like insurance business, they are probably the major reason why Warren Buffet and his Berkshire Hathaway able to grow their wealth. From P/E perspective LPI maybe a little bit expensive (18-20 ish compared to KLCI average of 15?), but its stable dividend yield (4% roughly) beat FD. Nice to hold as interim investment. 

My Investment Record (38) - 1st October 2018 - 31st January 2019

Current Return and performance

For Oct 2018, 

The estimated holding period return for KLCI in the Oct-2018 is -4.41% (with dividend included). Holding Period return for my portfolio, is -6.79%. Total holding period return for my portfolio since the inception is 12.27%, annualized to be 1.89%, this underperform KLCI total return of 27.86% (annualized, 4.07%) 

For Nov 2018,

The estimated holding period return for KLCI in the Nov-2018 is -1.44%(with dividend included). Holding Period return for my portfolio, is 2.52%. Total holding period return for my portfolio since the inception is 15.1%, annualized to be 2.27%, this underperform KLCI total return of 26.03% (annualized, 3.77%) 

For Dec 2018,

The estimated holding period return for KLCI in the dec-2018 is 0.93% (with dividend included). Holding Period return for my portfolio, is -3.93%. Total holding period return for my portfolio since the inception is 10.57%, annualized to be 1.60%, this underperform KLCI total return of 27.20% (annualized, 3.87%) 

For Jan 2019,

The estimated holding period return for KLCI in Jan-2019 is -0.13% (with dividend included). Holding Period return for my portfolio, is 8.51%. Total holding period return for my portfolio since the inception is 19.99%, annualized to be 2.88%, this underperform KLCI total return of 27.03% (annualized, 3.8%) 

Trading Activities

1. Addition of RHB Bank (1066)

2. Addition of HLFG (1082)

Both RHB bank and HLFG were trading at P/E Ratio around 10-12 at the time when i bought in. With stable earning, consistent dividend rate characteristics i believe both are worth to add when their price is low

3. Addition of BJToto(1562)

4. Disposal of BAT(4162)

My investment strategy with regards to the "sin" stock such as Tobacco(BAT), Number forecasting (BJ Toto) and beverage company are as such, 

Goods about them: stable earning with high dividend yields

Bads about them: as they are "sin" stock they are often targeted by government to curbing the consumption - most often done by raising tax rate on their products which in turn allow alternative products  (illegal tobacco/black market operator, e-cigarrette etc)  to takeover the market. 

These fundamentals result in the stocks had limited upside potential but nevertheless good to hold compare to placing your money with FD. 

For example, At the time i bought in, BJToto has estimated EPS of 20 sen and Dividend per share of 16 sen. This make the bought in price (ard RM2.05) attractive. You are buying into a stock with low PE (< 12) and high dividend yield (> 7%), on the other hand for BAT, with trading price around RM 37 (P/E around 20), this mean the stock had limited upside potential. 

5. Addition of YOCB(5159)

The P/E ratio was good (less than 7), the dividend yield was attractive (5 sen in total for last year). 

6. Addition of PADINI(7052)

Padini's price dropped significantly over the past few months due to dropped in profit caused by SST, Minimum wages and other increase in cost. However if i assuming the same profit amount decline for upcoming quarters, due to seasonal effect on retail apparel sales the total profit for the year can still come in around 15-20sen. 

Furthermore i believe in the management of PADINI which has proven past record in making a turnaround. 

7. Subscript to Right of Symphony Life (1538)

8. Subscript to Right and addition of MNRB (6459)

The price for both stocks nose dived for the past few months because of rights issuance exercise. This amused me as malaysia investor often react negatively (in a irrational way) when companies ask for additional capital investment from shareholder for business expansion or for working capital. As the fundamental for both companies havent changed since, it tooks nerve for me to keep buying when everyone is selling where the price keeping getting lower. 

For example for symphony life, it has unbilled sale of RM852 million where current profit forecast is around 10 sen for this financial year (while price trading ard 40sen!). 

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.