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Nera Tel

Today i sold off my position in NeraTel with a gain of around 85% as valuations become "fair" with PE hitting 15x. I will probably buy it back again at a later stage when the valuations become more compelling. The holding period is close to one year. My entry post is here.

Happy SRSing.

Riverstone Holdings Ltd

Let's me try to do a few updates on my SRS positions this weekend. Will spread it over a few posts if time permits. I want to see if it is worthwhile to continue holding some of my positions which hit all time high.

My entry post was here at 47c (depicted by the green arrow on the weekly chart below) and the last traded price was 62.5c (up 33% and at all time high)

Seemed like the market is finally appreciating the counter and it is at all time high. No major news announced except that the warrants will expire on 2 Aug 2013. Given that the exercise price is $0.31, most warrant holders will be converting their warrants into equity.

While it is good that the Company is receiving additional injection of equity, it is "detrimental" to existing holders like myself who are being diluted down.

The total number of shares in issue as of 18 July is 369,572,645 and this will creep up in the coming days as the Aug 5 deadline looms nearer.

Q1 2013 Result

Announced a good set of Q1 results on in May. I must have missed it due to my busy travelling and work schedule back then. keke..

"Market is a voting machine in the short run and a weighing machine in the long run ~ Benjamin Graham"

At the end of the day, earnings always drives share price performance and perhaps this is why the share price of Riverstone has been creeping up slowly. I like companies that show strong quarter on quarter performance and Riverstone has delivered on that front as Q1 profit is up by 21%. However, you can see that EPS has not increased by the same % on a fully diluted basis. 

Assuming last year's profit increased by 21%, FY2013 net profit will be around MYR 47.6m and the EPS will be around 12.9 RM sens or  5.11 Singapore cents. That translates into a forward PER of around 12.2x, which is probably trading at fair value.

The company continues to be debt free and I will continue to hold it for Q2 results. 

Happy SRSing.

Starfish SRS portfolio as of 30 June 2013

During the month of June, i received the following distributions:
  • Dividends from China Merchants Pacific - $165
  • Distributions from Far East Hospitality Trust - $69
  • Interest income - $1.25
To recap, i bought the following as well:
As you can see from the statement, the addition of the new REITs purchased resulted in some unrealized losses to my portfolio :-P

Happy SRSing.

Topping Up SRS account

Today i made a quick trip to the bank to top up my SRS account to create more 'dry powder' and for tax savings reason even though technically i can wait till end of the year to do the top up. How time flies, i blogged about my previous top up in Sep last year.

As of today, the invested capital is as follows:

The value is based on today's closing price. I have to tell you that i have been fairly inactive for a long time with my SRS until i decided to be more active last June and start blogging my journey here. I hope it can be a little inspiration to you to start saving for your future and create a portfolio that generates passive income.

You just have to take the first step out... like what i did in 2006 and gradually, it will build up over the years.

Happy SRSing