SRS Portfolio - 17 March 2024

The two biggest unrealised losses in the SRS portfolio comprised Daiwa House Logistics Trust and Suntec REIT (both are down more than 25% from the entry price). I have not considered the dividends that were received from these two counters during the holding period, which will reduce the losses.

It was interesting to note that SGX does ask questions where companies filed their returns. See example below on a query to Daiwa House Logistics Trust.

Frasers Centrepoint Trust - Announced that it will join the Straits Times Index with effect from 18 March 2024. Definitely good news but don't think there will be "significant movements" given that STI ETF are not really that popular here. FCT also announced that the actual Advanced Distribution per Unit for the period from 1 October 2023 to 4

February 2024 is 4.25 Singapore cents per Unit and the next distribution will comprise FCT's distributable income for the period from 5 February 2024 to 31 March 2024. Half-yearly distributions will resume thereafter. The payment will be made on 2 April 2024. 

UMS Holdings announced its results on 28 Feb 2024. Revenue in Q4 was down 27% but margins improved and net profit was down 2%. Commenting on the Group's outlook, Mr Luong said, "While the global semiconductor sector could see some near-term softness due to surplus inventories issues, the overall longer-term prospects look brighter. Our key customers have recently shared positive performance guidance in the coming months as they look to benefit from the robust semiconductor industry growth driven by the surge in AI and IoT demand in the years to come. In view of the favourable forecasts from our customers and the expected global semiconductor industry rebound as well as the sustained strong global aviation demand, we remain confident of future prospects and will continue to make investments across our key business segments to support our long-term growth plans." Barring unforeseen circumstances, the Group expects to remain profitable in FY2024. The Company also announced a dividend of 2.2 Singapore cents to be paid on 23 May 2024.

At least some distributions to look forward to in the coming months!

Happy SRSing