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Portfolio Update – May & June 2018
By Mr. IPO  •  July 8, 2018
Apologize for the lack of postings for the last 2 months. I had been pretty tied up with work, so let me do a quick update for May and June.
The local market has also turned quite badly in Q2, and is fact quite disastrous on my portfolio.
Hyflux 6% Perps
 
Hyflux announced that it will not paying interest on the Perps during this period.
I have written a post in Feb 2018 on how disgusted i was with Ms Olivia Lum but didn't cut loss on that position then.  I hope the authorities will look into whether she has contravened any articles in the Securities and Futures Act . . .
In any case, i have written down the value of my perps to 10% of its face value. ????
Lesson Learnt : Don't be lured by high interest rate and "high profile" business lady. Watch the cash flow and credit quality of the investment closely ...
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By Mr. IPO
Mr. IPO graduated from NTU with a Bachelor in Accountancy (Honors) and started life as a lowly auditor. The audit experience not only polished up his accounting skills but also made him very skeptical about the financial records of companies. He always read the financial reports with a huge dose of salt ...
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