July 2023 Returns: 6.00%
Year to Date Returns: 27.75%
Since Inception (9 Sept 2020) Returns: 81.69%
From June to July, the biggest mover in the portfolio would be Centurion and Powermatic Data.
On the results / business updates front, TC Auto has once again done it again as they continue to publish a profit warning.
YTD Returns looks satisfactory as the portfolio continues to try its best after a bad 2022.
Across this month, I have attended the Centurion SGX Sharing as well as the Powermatic AGM. I have been very impressed with both sessions and it has enforced my believe in holding these 2 positions in the portfolio
Particularly with Powermatic, i like their idea of finally taking steps to attempt to realize the value of the building. At least we can tell that the finishing line for this value appreciation would be in 2-4 years time.
For the year that has just past, i believe Powermatic Data did well despite having to do some impairments for orders that was done 2 years ago. They have also explained that the orders were pushed back and 30+% of the inventory has been cleared and therefore 1 can expect some one-off improvements in gross profit for that portion of inventory cleared.
Moving forward, with the chip situation alleviated, i believe it would reduce inventory risk for the company.
While not everyone might have been convinced with the takeaways from the AGM, i took away more positives than negatives.
With all companies apart from Powermatic Data and KSH reporting in August, it will likely be volatile days ahead for the portfolio.
I have decided to deploy the 2% idle cash into Huationg Global.
The update portfolio would look as follows.