October 2017 Portfolio Report

Dear Readers

My portfolio has tanked a little since last September 2017 Portfolio Report.

The main culprit which contributed to my portfolio’s sharp decline in October 2017 is Ekovest. Its share price plummeted after news broke out that Ekovest, may put to a vote, a proposition by Lim Kang Hoo. Kang Hoo’s proposition is that Ekovest purchase a substantial part of IWCity, thus taking IWCity private. To be realistic, no one can tell whether such a deal would benefit the shareholders of Ekovest or IWCity. My opinion right after the news broke (at that time, Ekovest’s shares were still suspended) was that the proposition may not benefit Ekovest. True enough, the market reacted negatively to such proposition as many fear it may change the fundamentals of Ekovest.

If you are holding either counter, I suggest that you take a wait-and-see approach to suss out whether the proposition will go through.

COUNTER COMPOSITION (%) AVERAGE PRICE LAST PRICE GAIN/LOST (%)
3A 6.50 1.18 1.11 -6.16
AIRASIA 27.09 2.80 3.45 13.65
CIMB 22.66 5.53 6.25 12.86
DNEX-WD 7.00 0.24 0.215 -9.93
EKOVEST 10.20 1.22 0.98 -19.62
EVERGREEN 7.17 0.84 0.76 -9.50

In all, portfolio achieved a 21.5% gain. This is however a decline of 4.22%, from a 25.77% gain, achieved in the last report.

As for dividend, 3A has declared an interim dividend of RM0.018 per share, going ex on 24.11.2017. Similarly, Ekovest has declared a final dividend of RM0.02 per share, which will ex on 27.12.2017. Cash is at 13%.

It appears that the mood in Bursa will remain somber whilst all other exchanges are hitting record highs. If you are affected by the volatility, I hope you are not perturbed by it; have some faith in your picks as long as their fundamentals remain unchanged.

Till next month!

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