Portfolio Review 2Q10

One transaction completed:

1. GuocoLeisure
   
   • Buy
     Possible privatization by Quek Leng Chan
     Hospitality strength in London and oil royalties from Australia Bass Strait
     Proxy to hospitality sector
     Possible 2012 London Olympics catalyst
   • Sell
     Rumours proved unfounded and privatization did not materialise
     UK elections overhang -> possibility of hung parliament -> political uncertainty
     PIIGS (Portugal Ireland Italy Greece Spain) debt woes in Eurozone
   • Lessons learnt
     There's no smoke without fire, except when a lot of people smoke together
     

Currently holding on to 6 counters (see Portfolio Review 1Q10 for nos. 1 - 5):

1. FrasersCT
2. Suntec
3. PLife
4. Starhill
5. Saizen warrant
6. Cache
   
   • Buy
     First pure logistics REIT listing in two-and-a-half years
     Luck with IPO balloting for public (see Third Time Lucky entry)
     Logistics strength in ramp-up warehouses located in established logistics clusters, near air and sea transportation ports -> barrier to competition

Next portfolio review due after 30 September.

Note to self: NAV includes realised P/L, fees and dividends. Performance vs. STI measures only paper value.

Can you put a price on love?

Yes you can!

Money in a guy account before you consider accepting him as your life partner?

10K - 20K	[ 22 ]	[6.96%]
20K - 30K	[ 65 ]	[20.57%]
50K - 80K	[ 95 ]	[30.06%]
100K -120K	[ 31 ]	[9.81%]
150K - 200K	[ 41 ]	[12.97%]
Nothing matters	[ 62 ]	[19.62%]

Poll Taken from some local female forum..

Hmmm Interesting! I dun have 50K to 80K leh.. how? :( So moody..

KKS

NZD Update June 2010

Finally, NZD rates up...

WELLINGTON - NEW Zealand's central bank lifted the official interest rate by a quarter percentage point Thursday from a record low of 2.5 per cent, the first change since April last year.

Reserve Bank of New Zealand Governor Alan Bollard said the official cash rate was being raised to 2.75 per cent because the economy was entering its second year of recovery and inflationary pressures were expected to be contained.

'Given this outlook and as previously signalled, we have decided to begin removing some of the monetary policy stimulus that is currently in place,' Mr Bollard said.

'The further removal of stimulus will be reviewed in light of economic and financial market developments.'

New Zealand slumped into recession at the start of 2008, emerging only in the second quarter of last year with economic growth picking up to 0.8 per cent in the three months to December compared with the previous quarter. -- AFP

Stock Portfolio Update May/June 2010

Continuing on from the Personal Financial Journey entry,

• 15 Mar 2010
  Received advanced distribution from FCT due to private share placement
• 21, 27 Jan - 5 Apr 2010
  Bought GuocoLeisure at $0.73, $0.63 (average $0.68) and sold at $0.70
• 27 May, 9 June 2010
  Collected dividends from FCT, Suntec, Starhill and PLife

Reminder to self: second portfolio review due after 30 June.

AUD Update June 2010

Looks like AUD rates will be staying at current levels for the moment...

SYDNEY - AUSTRALIA paused an aggressive series of interest rate rises on Tuesday, citing turmoil on global markets over Europe's debt woes which have raised the spectre of a 'double dip' recession.

The Reserve Bank of Australia opted to leave rates on hold at 4.50 per cent, deciding against a fourth straight quarter-point hike and the seventh since October.

'Interest rates to borrowers are around their average levels of the past decade, which is a significant adjustment from the very expansionary settings reached a year ago,' said Reserve Bank of Australia governor Glenn Stevens.

'Taking all the available information into account, the Board views this setting of monetary policy as appropriate for the near term,' he added. Australia's stock market and national currency have fallen sharply over the past month as investors were rattled by debt problems in Greece, Spain and elsewhere which have prompted emergency action by European leaders.

The economy has also been overshadowed by a row over a new tax on the key resources sector, which has helped drive Australia's strong recovery from the financial crisis.

The rates decision followed mixed data on Tuesday, with April retail sales up a better-than-expected 0.6 per cent from a month earlier but housing building approvals down 14.8 per cent. -- AFP