I was going to write on my Jul portfolio a bit later after I've concluded my application for the CDL Hospitality Rights but as I will be going for my HK holiday next week, I'll have to update it this week.

The portfolio has been impacted much this month as a result of poor performance from Comfort and M1 in particular and this is even more so considering STI has finally break its curse to go onto its 52 weeks high. Still, I'm not overly concerned as yet.

I have accumulated more on Comfortdelgro on several occasions. This has now become my biggest position to date with 55,000 shares at an average price of $2.40. Taxi fleets idling rate are increasing, competition rising up and the media keeps hyping about it, so I think there is already a bit of evasion from the general public. I'd just wait this out until I've analyzed a few more quarters and their plans ahead.

I have also applied for my entitlement of 12,000 shares of CDL Hospitality Trust at $1.28 which I blogged over here. In addition, I have also applied for 12,000 excess shares which is currently pending the status. I doubt I can get more than 2,000 if any.

This month, I have also initiated a new position in Katrina which I have written over here. I am hoping the opening of the new stores will bear fruits from this year onwards which would translate into positive bottomline. Margins is still always a concern.

I have also added my position in M1 at $1.92 which I thought was a strong double bottom after they announce their results and the lapse of their strategic review. My initial take was to divest off the position but seeing the tragic panic that sent its shares down so much this morning, I have quickly recomputed their valuation based on EV/EBITDA and I thought it was decent at 7.2x ($1.92 x 930,057 + 350,000 + 76,600 - 6,100) / (152,400 x 2). Plus, from a technical view, it was a strong support, hence I have added them. For the longer term, I'd have to admit that I might have to rethink twice about it and analyse my options and alternatives. Debt will increase over time due to higher capex and earnings will probably not yet see a bottom due to falling ARPU, so these are some of the consideration that I have to think about.

I have also traded Jadason which I entered at $0.097 and exited at $0.123 for 100,000 shareholding. I was alerted by a fellow blogger and bought the shares right before the company was about to break out. I think it's a relatively decent small gain.

I also trade long positions for Capitacommercial Trust which I bought at $1.65 and have sold it at $1.72 after the release of their results today. This was meant to be a short term trading plan so follow system and execute.

On the Netlink Trust, I have ended up not applying for the IPO as I almost ran out of cash, so I'd give it a miss this time round first.

The portfolio has dropped from the previous month of $610,142 to $608,501 this month (-0.1% month on month; +40.4% year on year).

I think given the huge turbulence in Comfortdelgro and M1 so far based on what we've seen in the market, I was expecting it to rock the portfolio quite a bit. I think it is doing relatively fine so far so I won't get worried quite yet at this point.