March 2021 Returns: 9.31% (Returns driven by Hanwell, UMS, Propnex, Ifast)

Year to Date Returns: 23.71%

% Change since 9 September 2020 (Inception): 36.55%

Overall it has been a very satisfactory 2021 March and a very satisfactory 1Q 2021 for the Excel Portfolio.

Hope this helps in some sense in debunking the myth that Singapore Market is a very difficult market to profit apart from the 3 banks.

Changes made in End March

Removed 3000 Top Glove Shares (Value of 4560)

Added 12500 China Sunsine Shares (Value of 6562.5 based on 31 March Closing Price of 0.525)

Cash Portion reduces by 2002.5 to 121

Change Rationale

Top Glove seems to have to many internal company problems in the industry that has seems to have its effects played out sooner than later. Initially a pick just in case Covid-19 got worst, it seems like Covid-19 vaccine story has played out much sooner and the