Tuesday 31 March 2020

March 2020 Updates

Mar 2020

Portfolio Value after market close


Wifey's Portfolio Value after market close



1) 3,000 shares of CRCT @ $1.33 (Added the same for wifey's portfolio)

2) 300 shares of DBS @ $23.90 (Added the same for wifey's portfolio)

3) 300 shares of DBS @ $19.78 (Added the same for wifey's portfolio)

4) 500 shares of OCBC @ $9.20 (Added the same for wifey's portfolio)


1) 40,000 shares of Japfa @ $0.62


1) Ascendas REIT @ $175.35

2) Mapletree Logistic Trust @ $102.53 

3) ESR REIT @ $85.50

4) Mapletree North Asia Commercial Trust (MNACT) @ $66.84

5) CapitaLand Retail China Trust (CRCT) @ $180.50

Short-Term Transactions

1) Intraday trade on 5,000 units of DLC SG5xShort DBS

2) Intraday trade on 10,000 units of DLC SG5xShort DBS

3) Weekly trade on 5,000 units of Ascendas Reit


Received a total of $610.72 of dividends this month. 

Portfolio value dropped by $20.9k when compared to last month's portfolio value of $130,500.85. The decrease is of course driven by the downturn of the market caused by COVID-19 and partially offset by the capital injection of around $21.7k in DBS, OCBC and CRCT.

I have added another batch of CRCT to my long term portfolio at $1.33.

I have also made my maiden entrance into DBS which is a counter I have always wanted to own.

So far I have bought in two batches of 300 shares each.

As for OCBC, it is a counter I have owned previously so this is a return of one of my favourite counters.

Letting it go back then was one of those decisions where I regretted so I'm glad the chance came for me to own it again.

So far I have bought 500 shares as a first batch.

This is one of my busiest months in the market after a long time.

If you have been following my previous update posts you will know that I hardly trade at all. The total no. of trades I did for last year can be counted by the fingers of my hands.

I'm still more of a long term investor than a trader.

So for this month, I sold off my total holdings of Japfa at $0.62. Average cost price is $0.59. 

I held it for slightly over a year. Decided to sell it to take profit since the market situation is worsening and this is not my core holding after all. 

Funds collected will be used for some short term trading and investment for my long term portfolio. 

I've also bought 5,000 shares of Ascendas Reit at $2.71 for a short term trade and sold them at $2.79 after a week for some small profit.

This month also marked my first foray into Daily Leverage Certificates (DLCs). It wasn't a pleasant virgin experience. See below for more.

COVID-19 and My Investment Strategy

Since February this year, I have amassed about $40k of funds to be used for my long term portfolio.

Beginning from last month, I have observed that the share price of a number of counters in my watch list are starting to approach my target price.

With a long watch list but limited buying power, I decided to add another selection parameter to help me narrow down the counters to buy and focus my fire power on.

This additional selection parameter is in the form of a calculation and it indeed helped me to narrow down on the counters to buy during this period to three and they are DBS, OCBC and CRCT.

So far I have made my purchases in these 3 counters in batches.

Perhaps I will write a separate post on this calculation and how I narrowed down to the above 3 counters.

Buying in batches is always my to-go approach as I'm not very good in catching the bottom.

Time in the market is always better than timing the market for me.

And also to quote something from Michael Batnick when he was asked about when is the right time to buy stocks: "It doesn't matter when you buy, only that you buy."

Target Price

Below are my target prices (TP) for the three identified counters and the reasons for setting the prices.

While the term is called 'Target Price', it is by no means a static figure to me. Rather, I treat it as an area, a fluid figure to adjust according to the present trend when the target price is hit.

For example, I had wanted to add more CRCT at $1.37. But eventually I added it at $1.33 as the down trend was going strong then.

Last but not least as I always said, do not blindly follow.

Daily Leverage Certificates

Made my first foray into Daily Leverage Certificates (DLCs) when I traded DLC SG5xShort DBS twice.

Made a loss of about $3.9K in total.

I can probably break down the reasons for the loss to bad luck, personal factor and external human factor.

Bad luck because the market, especially DBS share price has been dropping steeply for the one week before I entered my first DLC trade. However on the very day I entered, dear Donald Trump decided to make a certain tweet that made the market rebound that day.

I promptly cut loss. And the market resumed the drop the next day.

For the 2nd trade, I was actually looking at some gains in the morning until the bank stocks suddenly moved up sharply and quickly around noon. There seems to be no reason for the sudden uptrend. Probably only the insiders know.

I decided to hold on till the later part of the day as the chart suggested the bears and bulls are still fighting.

However when I finally cut loss around 4.15 pm, the share price began to drop again. I could have lessen my loss if I have held on for a few more minutes.

Sometimes it seems like someone or something is plotting against every of my moves.

Personal factor reason is because I did not monitor the market closely enough and my trading skills have lots of room for improvement. No excuses here.

External human factor is because according to my MBKE broker, the DLCs can only be traded via them (the brokers) as it is a volatile product.

This partly contributed to my loss due to the higher commission involved and more importantly, trading through the broker is less nimble as compared to making the trade myself using my online account.

I have checked with my other brokerages, apparently they did not mention having to trade DLCs through the broker.

Another important factor that will turn your winning trade into loss is the bid-ask spread.

I have observed that the spread for some DLCs can be rather wide at times and it's not easy to enter at a favourable price.

Despite the bad first start, I won't rule out trading DLCs again especially if a good setup is present.

However I won't be using my MBKE account for this product. I very much prefer to do it on my own online.

Anyway my focus is still building up my long term income portfolio.


While I have an emergency fund to sustain myself and my family for about two years, I can't rest on my laurels as everything so far points to a protracted downturn in the economy.

Hence this pot of cash is one that won't be touched for my personal investment no matter how tempting the market has becomes.

This is something I have to constantly remind myself of recently.

Already I can feel my business slowing down in these two months. No. of enquiries have become lesser. Potential projects seem to be taking longer to be confirmed.

The company cash flow is still healthy but I can't help but become more concerned as the days go by.

I am still evaluating how will the two rounds of government stimulus help businesses like mine. Hopefully I can get some assistance from them.

Meanwhile I am making use of this period to get some certification for my company and also attend some training courses listed in Skillsconnect.

Portfolio Page of this Blog

Lastly I have also updated the Portfolio page of this blog. I realised I have been getting quite a number of page views on the portfolio page but the portfolio displayed was still that of 2016's.

My apologies for that.

I have now uploaded the latest year end portfolio (2019 end) for the readers' reference. Moving forward I will try to keep the page updated yearly.

I am also thinking of adding some graphs to depict the yearly performances such as portfolio value and dividends received.


Monday 30 March 2020

Paul Immigrations Reviews: Apply for Singapore PR the Smart Way

Because of its lack of natural disasters, political stability and low crime rate, Singapore as a developed island-state, is a popular choice for people seeking Permanent Residency and new citizenship in another country.

There are many benefits that a Singapore Permanent Resident (PR) holds over non-citizens.

Some of the Key Benefits Are: 

👍 Able to live in, enter and leave Singapore without the need to apply for a separate visa.

👍 Able to apply for a long term visit pass for the immediate family.

👍 No need to reapply for a work permit when changing jobs.

👍 Enjoy the benefits of the CPF scheme.

👍 Higher priority in loan applications.

👍 Lower stamp duties in property purchase and the eligibility to purchase resale HDB flats.

👍 Subsidised rates for medical, childcare and education expenses.
Also importantly, in order to become a naturalised Singapore citizen, one of the criteria is to be a PR for at least two years.
While the thought of becoming a PR in Singapore might be alluring, the process of applying to be one might be daunting. This is especially so for those with no prior experience.
For first-timers, the tedious paperwork and unfamiliarity with the entire process can be a big hurdle to climb.
Even though the PR application can be done online, first-time applicants might face difficulties in navigating the e-Service website.
For re-applicants who faced previous rejection(s), it can be emotionally distraught especially if the reason for past rejection(s) is not known.
So rather than fumbling through the process, why not get the help of an expert to guide you through while saving you time and effort?

Paul Immigrations is a Singapore-based immigration consultancy firm that specialises in assisting applicants in their dream to become a SPR.
Since their establishment in 2016, the firm has helped over 15,000 customers with their key insights on the process. Thanks to the expertise and intimate knowledge of their consultants, the consultancy has maintained a high success rate.
The Various Groups Who Can Benefit from Paul Immigrations' Services

➤ Employment Pass or S Pass Holder

➤ Spouse of a Singapore Citizen or PR

➤ Student studying in Singapore

➤ Aged parent of a Singapore Citizen
➤ Unmarried or legally adopted child aged below 21

➤ Foreign Investor in Singapore

Paul Immigrations Reviews: How Do They Help You?
1. Expert Insights

The company's team of experts has extensive experience in the process. And they put this to good use by offering key insights and tips to help you edge one step closer to obtain your approval.

      2. Documentation

Since all PR applications are to be submitted online through the Immigration & Checkpoints Authority Singapore (ICA) portal*, the completeness and accuracy of documents are of paramount importance as any missing documents can render your submission invalid.

Let the consultancy take this worry off you as they vet through the documents prior to submission. 

* Foreign investors can apply for PR at the Singapore Economic Development Board under the Global Investor Programme.

3. Gather More Essential Documents

You would want your best qualities and contributions to be presented to set your application apart from others, thus increasing your chance of success.

Let the team help you with these additional documents. 

4. Design Cover Letters

While not a mandatory document, another way for your application to stand out among the thousands received by ICA is to include a cover letter in your submission.

The firm's specialised team of writers will help you to craft a personalised cover letter to highlight your strengths and emphasise your edge over others.

This is done to set your submission apart from the rest.

      5. Be With You Throughout

The number and type of documents to be submitted can be overwhelming. What’s more, a single mistake can render your application invalid which will be a big waste of time and effort.

Let the experts at Paul Immigrations guide you through the entire process to ensure you have not left out any documents or important information.

      6. Save Time & Fuss

The e-Service portal on the ICA website can be confusing for the uninitiated. Save your precious time and hassle by engaging Paul Immigrations to guide you through the portal and ensure all the required forms are filled and filed correctly.

To accomplish the above, the firm has developed a systematic 6-steps process to ensure nothing is left to chance. 

Step 1: Call up the Prospective Client
As a first step, a consultant will conduct interviews with you via phone calls to ascertain your eligibility for Singapore PR application.

The consultant will require information such as the type of work pass you are holding, whether you have family ties with any Singapore citizen or PR, and whether you have any pending applications with ICA.
At the same time, the consultant will assess your profile involving basic information such as your age, length of stay in Singapore and salary.
Step 2: Schedule an Appointment

Once the consultant has confirmed you are holding the correct work pass, a physical interview will be scheduled to verify your physical work pass and review your profile to gauge your likelihood of a successful ICA PR application.

The consultant will also go through with you on the factors that will affect your PR approval.

After this you can decide whether you wish to engage their services.

Step 3: Request of Documents 

At this stage you will be requested to provide the relevant documents to an Immigration Specialist either by hardcopy or email. 
These documents include:
➤ Audited form submission (also known as Form 4A) 

➤ Correct compulsory documents as required by ICA

Essential additional documents (that reflect your participation in charity work, community engagement, etc)

Upon receipt of these documents, the specialist will advise if the documents satisfy the PR criteria and requirements of ICA.

Step 4: Specialist handles the Paperwork

Based on the information garnered from you so far, the Immigration Specialist will guide you to complete form.

The firm’s in-house writer will also craft a personalised cover letter to be included.

Step 5: Specialist Submits Your PR Application

With every aspects covered, the specialist will proceed to guide you with the submission of your application online either remotely or together with you.

It takes an average of one to two months from Step 2 to 5.

Step 6: Outcome of Your PR Application

ICA takes about four to six months to go through every PR application. Depending on the result, the immigration specialist will advise you accordingly on what to do next.

Whether you are a first-time applicant or a re-applicant, Paul Immigrations can definitely help you in your PR application. So give them a call at +65 6206 6390 for their professional consultation.

You can also visit their website to gauge your likelihood of a successful ICA PR application.

This post is written in collaboration with Paul Immigrations Pte Ltd.