Portfolio Review

For the month of Feb, my portfolio took a slight hit to end 0.1% in the negative. Over this month, I've added 3 companies to my portfolio: Novo Group, Blue Gem Enterprise and Soilbuild. The analysis and writeup of Novo Group and Soilbuild were covered earlier. For Blue Gem Enterprise, it is a speculative play. It's a young startup in America that is involved in the distribution of food and beverages. It's located in South Florida.

Here is my portfolio at the end of the month

Transpac

Transpac released its FY2009 results on the 24th of Feb. NAV/share dropped from SGD2.55/share to SGD1.81/share. However, this was due to the number of shares outstanding. NAV increased from 349million from 256million. Cash for the Group was at 164million at Year End. Bank Loans were fully repaid over the past year. Dividend announced was 10cents/share.

First Resources

First Resources announced its results today. Sales volume were up, but revenue down due to lower comparable palm oil prices. An analysis of the results will be done within this week. Dividend announced was 1.18cents/share.

China Telecom

It was reported today (Mar 1st) that China Telecom is in talks over taking over PCCW. PCCW was previously subjected to a failed takeover bid by China Unicom.

China Telecom released news on subscriber data for the month of January, with its total subscribers to its CDMA network amounted to 59.1million. Its fixed line network of users shrank 1.9million to 187million, while its broadband network saw an increase of 790,000 to reach 54.25million subscribers.

Deutsche Bank raised China Telecom to a buy, with a price target of HKD4.60/share. China Telecom should be reporting its results in March

Novo Group

Only noteworthy news was that Novo Group appointed CIMB Securities as its sponsor for its listing on SEHK. The news was released today.

Soilbuild

Soilbuild's full year financial performance was covered in the Soilbuild post earlier. Soilbuild intends to build its rental income to 40million. Its regular dividends is based on rental income while special dividends is based on sale of development properties. Dividend payout was 6cents/share.