Reflections from my 6D5N Shenzhen/Hong Kong China Trip

 

I recently had the opportunity to explore both Shenzhen and Hong Kong, two cities in China that, despite their proximity, offer vastly different experiences.

Stepping into Shenzhen felt like landing on another planet. This is a truly Smart City which is a breathing testament to China's breakneck speed of development.

Towering skyscrapers, futuristic architecture, and a palpable energy permeate the air. Shenzhen is a city obsessed with innovation. Tech giants like Tencent and Huawei have their roots here, and the city's streets are teeming with startups and tech enthusiasts.

What struck me most was the city's relentless focus on the future. Everything from transportation to infrastructure is designed with efficiency and modernity in mind. The ubiquitous presence of electric vehicles, the seamless integration of technology into daily life, and the government's unwavering support for entrepreneurship create an environment ripe for disruption.

In stark contrast to Shenzhen's futuristic landscape, Hong Kong offers a harmonious blend of East and West. Its iconic skyline, a mix of colonial architecture and towering skyscrapers, is a symbol of its rich history and global influence. The city's vibrant culture, world-class shopping, and delectable cuisine make it a magnet for tourists and business people alike.

However, beneath the glitz and glamour, Hong Kong is grappling with its own set of challenges. The rising cost of living, political tensions, and the looming shadow of mainland China's influence are casting a shadow over the city's future.

It has been an unique, eye-opener and wholesome experience.

As shared in an earlier blog post, this was a budget trip funded by passive income and was booked merely 3 weeks in advance with minimal planning.

Here are some reflections on the trip.

Day 1: Arrival at Bao'an International Airport, Check-in Lan'Ou Hotel, Kingkey 100 Tower, Dongmen Pedestrian Street

Upon landing from a redeye flight, we are greeted by the modern and cool Shenzhen Bao'an International Airport.

The toilets are equipped with analytics display of the available vacancies and sensor readings.

After a 50 min bus ride, we arrived at Lan'Ou Hotel in Luo Hu district and was greeted by a decent lobby. What more to expect from a 3 star hotel which costs just $40 a night?

The room is small but cosy and equipped with voice controlled features.

Breakfast buffet spread was decent too.

In the afternoon, we visited the Kingkey 100 Tower, a supertall 442m skyscraper with 98 storeys and is the 2nd tallest building in Shenzhen. In comparison, the tallest building in Singapore, Guoco Tower is only 283m tall.

The bustling Dongmen Pedestrian Street was the final destination in the evening. This iconic McDonald outlet was the first to open in China in 1990.

The streets are packed with aspiring musicians, singers and dancers who are flauntng their skills and talents on Douyin, the Chinese edition of Tik Tok.

Day 2: Hong Kong - Tsim Sha Tsui, Avenue of Stars, Victoria Harbour, International Finance Centre, Central Mid-Levels Escalator, Electric Pram, Festival Walk Mall

Day 2 was interesting as we visited Hong Kong for the first time in our lives and entered by foot as we trudged into the immigration via Luo Hu Port from Shenzhen. Clearing both immigrations was a breeze and took less than 40 mins.

The first stop in Hong Kong was Tsim Sha Tsui where the Avenue of Stars is located and Victoria Harbour view can be appreciated.

Statue of Bruce Lee can be found.

We then took a ferry across the river to Central.

We then walked to International Finance Centre and headed up to Level 55, which is the Hong Kong Monetary Authority Museum with free viewpoints of the city.

After lunch at the nearby Central Market, we explored the longest escalator in the world.

We then took an electric pram, Ding Ding across the Hong Kong Island for sightseeing.

In the evening, we visited the Festival Walk Mall owned by MPACT and had light dinner there before heading back to Shenzhen.

Overall, I find the standard of living in Hong Kong much higher than Shenzhen and the food and transportation prices are more costly than Singapore's. We spent more than $70 on transport and food alone in half a day without even visiting tourist spots and restaurants at all.

Day 3: Kingkey Banner Centre, Seaworld and Shekou City walk

We started the day with some shopping at the Bigoff outlet in Kingkey Banner Centre, at Shajing, north of Shenzhen. Authentic old stock of branded clothes can be found and knock-down clearance prices ranging below $15 for a T-shirt and below $40 for a pair of Adidas or Nike sneakers.

We also strolled around the mall to see many electric vehicles of various brands i.e. Xiaomi, Huawei, BYD being exhibited in shops. Competition is indeed stiff for electric vehicles in China.

Lunch was late at 4pm and settled at Mcdonald. a promo set meal costs just RMB 13.90 or $2.60 only.

In the evening, we visited the Sea World at Shekou, where an old ship Minghua is docked as the main attraction accompanied by a few malls, tons of restaurants and shops. The water fountain light show was enthralling and showcased the high precision technology and able to shoot water up to a height of 50m.

Dinner at Xijiade Dumpling 喜家德水饺 concluded the day. It was sumptuous and costs just RMB 47 or less than $9 for 2 pax.

Despite being the third richest city in China, I think the standard of living in Shenzhen is still a far cry off Singapore's.

Day 4: Qiushuishan Park, Shenzhen Bay Park

In the morning, we visited a non-touristy Qiushuishan Park where there is a small replica of Great Wall of China and viewing point of the entire Shenzhen landscape.

Lunch was at a nearby MixC mall where many restaurants offered promotion during off peak hours from 2 to 5pm. We eventually settled for a RMB 99 or $18 promo set meal at Goose Prince restaurant which was delectable.

The day was concluded at Shenzhen Bay Park which offers a panoramic view of Shenzhen skyline and new territories, Hong Kong. It is a too crowded and swarmed by the locals though.

Day 5: Huaqiang Bei Commercial Street, Bao'an International Airport

Day 5 was almost the last day as our flight was at 3.30am on the next day. We packed up and checked out of the hotel at around 1pm before exploring the Huaqiang Bei Commercial Street, which hosts an electronics and digital hub exporting gadgets and electronics parts wholesale to rest of China and the world. We had lunch there and visited a few malls, each specialising in mobile gadgets, assessories or computers respectively.

Lunch was sumptuous and cheap at a Canton style restaurant called 楼上楼. Both set meals cost RMB 48 or less than $9 in total.

We then recced the individual malls to witness the gigantic scale of wholesale export operations and pre-owned mobile phone market.

Dinner was simple and cheap at KFC costing just RMB 39.8 or $7.40 for 2 pax before we went to collect luggage from hotel and headed to the Airport.

We reach the Airport before midnight and checked in early for our flight.

Due to shortage of time, there are many places of interest that we did not manage to cover - Window of the World, Ping an Tower, Splendid Folk village, Dafen oil painting village, other parks and so on.

Let me briefly share on some takeaways from this trip.

1. Digital Cash is the future King

Immersed in the digital ecosystem of payments and micro-apps in Shenzhen, we did not encounter any failure despite initial glitches with registration or timeouts in the Wechat and Alipay apps. In China we could ditch away our wallets and purses as cash, coins and keys become obsolete in a Smart city. It is strange to realise that no shop nor restaurant encourage manual orders nor accept cash. We could easily top up our multi-currency cards such as Youtrip, Wise, Revolut or even use native OCBC, UOB or DBS apps to scan Alipay or Unionpay QR codes in China for payment. Digital Cash is just numbers online and will be the King of the future!

2. Transport is robust and complex

The metro system in Shenzhen is much more complicated and complex than Singapore's. There are 16 lines, each with different colours- navy blue, light blue, purple and so on. Usually, from point A to point B, there are more than 3 routes and we need to find the most efficient route by Baidu map. Fewer stops do not mean shortest path.

3. Chinese technology is impressive

While using Baidu for GPS navigation, I realized that they are much better than Google map in terms of reactivity, precision and accuracy. We will be prompted instantly on a any deviation from proposed route and the accuracy can be down to less than 1m. I was impressed that Baidu is able to detect in real-time the station I am at on the bus or metro while during navigation. The computation of estimated time of arrival is also very precise. The widespread adoption of smart technologies, electric vehicles, apps and sensors in the city could cause over reliance on power and promoted the need for power banks rental stations for phones and battery swapping stations for electric vehicles. Robots and AI technologies are also prevalent in hotels, retail industry and payment scenes. Alipay supports facial payment while Wechat pay supports palm payment. Technologies used for advanced use cases such as clearing immigration are beginning to be being deployed widely for daily use needs.

4. Great food and hotels at affordable prices

The food in Shenzhen is predominantly Canton style, delicious and at much cheaper prices compared to Singapore or Hong Kong. They also have local food shops like coffeeshops in Singapore offering $3 rice or noodle buffet with local dishes. Their atas restaurant prices are only at our food court levels while our restaurant food prices can afford fine dining or international buffet in Shenzhen.

5. A City Rich with Culture and Vibes

Contrary to the claims of those who view Shenzhen as lacking in culture due to its significant migrant worker population, I believe the city is both vibrant and welcoming, with a unique and dynamic atmosphere.

Situated in the Pearl River Delta region, Shenzhen boasts a prime location, surrounded by natural beauty and positioned at the crossroads between Asia and the West.

My travels between Shenzhen and Hong Kong underscored the rapid pace of change in Asia. Shenzhen's relentless drive for innovation and openness to the future serve as important lessons for cities worldwide. Meanwhile, Hong Kong’s rich historical tapestry and global connectivity highlight the value of preserving cultural heritage while navigating contemporary challenges, much like Singapore’s approach.

Thank you for reading.

With love & peace,

Qiongster

Sold ST Engineering

 

The share price of ST Engineering (S63.SI) has surged in recent months on the back of strong Q1 2024 financial results when it posted an 18.1% revenue to $2.7 billion and a 20% rise in H2 profit to $306 million. In June 2024, ST Engineering also announced over $100 million worth of ammunition orders from Europe and development of a fourth new data centre in Jurong, adding 7.5 MW of capacity to its portfolio. Most recently yesterday, they signed a 2 year agreement with Safran Aircraft Engines for engine repair support.

ST Engineering has a strong proven track record of being a resilient, defensive conglomerate business which rewards shareholders consistently with 4 cent dividend per share quarterly. However, I decided to sell it off today as its share price hit new 52 week high.

I believe ST Engineering is now fairly valued or slightly over valued. Its yield has been compressed to just 3.6% based on $0.16 dividend at $4.40 share price. Its share price is also at the resistance level hence may retrace to the next level of support if it fails to strongly cross above the $4.40 resistance level. Its price to book value of $0.79 is 5.4 times which is rather high. 

I wanted to lock in the profits of these ST Engineering shares which I bought in 2017 at just $3.22. Inclusive of the cumulative dividends collected which is around $5k, the total profits amount to around $10k, which is more than 60% of the $15k capital invested, too enticing to not take off the table.

A key concern of ST Engineering is its heavy reliance on debts to fund its growth and operations. At a current total debt level of $7.3 billion and short term debt of $2.5 billion, its debt to equity ratio is at >2 , which may erode into its future profitability in today's high interest rate environment. 

While ST Engineering shall continue to do well in the next couple of years, it may struggle to maintain the $0.16 dividend at the expense of shareholders in the long run.

I have the funds out of ST Engineering and may consider buying back should its share price fall below $3.80 in future.

Thanks for reading.

With love & peace,

Qiongster

Dividend Funded China Trip

 

I am finally back on Chinese soils, after 23 years when I first visited Shanghai as a teen. Since the pandemic, intense lockdowns have made it difficult to visit China. 

Now that borders are reopened and flight prices have subsided, I decided to make a trip to China for sightseeing and chillaxing.

This is a budget trip with promotional Singapore Airline flight at $277 round trip per pax and 3 star accommodation for $200 over 5 nights.

I get to experience the impeccable service of Singapore Airlines. Watching Euro match between Slovakia and England on a plane while sipping Singapore Sling at 36000 feet above ground in the skies is something so surreal. There is also free Wifi for economy passenger with Krisflyer membership. Supper and dessert are sumptuous too.

This is a fully digital payment immersion in China as we went cashless totally by equipping with Alipay and WeChat apps linked to Youtrip, OCBC app for scanning UnionPay QR codes and DBS UnionPay debit card as contingency.

All-in budget is merely $1k for a week in Shenzhen and Hong Kong for 2 pax, fully funded by dividends collected in the past weeks.

Shenzhen has enjoyed tremendous advancement and growth in the past 2 decades to become a modern smart city with standard of living comparable to Singapore's but edging out with more widely adoption of technologies such as analytics, AIs and robots.

We hope to experience a week of local lifestyle living life carefree while enjoying freedom to the maximum, without splurging like tourists.

Arriving early in the wee hours from the redeye SQ flight, an overnight bus from Shenzhen Bao'an International Airport to Luohu district costs 50 Yuan for 2 pax or S$9.43 using Alipay.

A bowl of noodles costs 13.9 Yuan or S$2.62 in a simple restaurant which is cheaper than Singapore.

In the evening, we visited the bustling Dongmen Pedestrian Street flooded with Tiktokkers singing and dancing activities. We enjoyed delicious snacks sitting down while different dancers whizzed by and street peddlers took up positions randomly.

On the 2nd day, we crossed the Shenzhen Luohu Port border for a day trip in Hong Kong. Clearing immigration on both sides was seamless other than the hazzle of filling up arrival forms manually.

We tried to go cashless in Hong Kong by just using Visa credit card where their MTR accepts Visa credit cards for selected gantries. The processing takes a day and I was appalled that it costs more than $7 to travel on MTR from Lo Wu to Tsim Sha Tsui East, where we visited the Avenue of Stars, Victoria Port and took a ferry to Central.

Handprint of many HK stars including Jackie Chan at the Avenue of Stars

View of Victoria Harbour

We paid just HK$5 for the ferry to bring us across to Central at the opposite end of the river for less than 10 mins ride.

We walked to Two IFC and headed up to L55  Observation Deck and Hong Kong Monetary Authority Museum which is open to the public including foreigners for stunning awesome view of the landscape and brief education of Hong Kong's monetary and banking history all for free!

We then headed to Central Market mall for lunch followed up ascending up the longest escalator in the world, the Central Mid-Levels.

We hopped on an electric pram, Ding Ding which has flat fee of just HK$3 (regardless of distance) to Quarry Bay MTR station, enjoying the ultimate roof top tourist experience.

As an MPACT shareholder, I visited the Festival Walk in the evening for dinner before heading back to Shenzhen. The mall is larger than expected and bustling with activities. It is surprising that a mall comparable to Vivocity in terms of retail presence is of subpar performance financially due to geographical differences.

On the 3rd day, we went to an outlet shop, Bigoff in Kingkey Banner Centre in Shajing, Shenzhen to do some shopping of branded authentic clothings. Prices are incredibly low as those are leftover stocks 2 to 3 years ago from the pandemic days. Puma, Reebok and Adidas tees range from $4 to less than $18 on average. Shoes are arranged according to foot sizes and many are outdated designs.

Wrapping up the 3rd day, we visited the Sea World where the focal point is a cruise ship, Minghua surrounded by many shops and restaurants with cool vibes.

As at time of writing, I am merely into the 4th day of this eye-opener mainland trip and has been enthralled by the overall experience, not just the digital payment, but also witnessing toilet analytics, robots entering lift and making coffees, smart hotel room controlled by voice, smart food ordering via qr scanning and so on.

It has been tiring with a lot of walking and exploration but I hope to enjoy more surprises and great experiences in the next 3 days before heading back to Singapore.

A decade ago, I could not imagine that I could travel without worrying about finances. After investing for close to a decade, I am finally able to do so with passive cash flows from dividends.  

This is a just quick sharing on my current travelling experience.

Thanks for reading.

With love & peace,

Qiongster

Passive Income in 2Q and 1H 2024 Exceeds $15k!

Between 1 Apr and 30 Jun 2024, I collected the following dividends.

$302.17 SSB (1 Apr)

$340 Frasers Centrepoint Trust (2 Apr)

$324 DBS (19 Apr)

$463.50 SSB (2 May)

$850 UOB (9 May)

$188 ST Engineering (14 May) SRS

$165 Wilmar (14 May) SRS

$188 Comfortdelgro (15 May) SRS

$540.54 DBS (20 May)

$2100 OCBC (21 May) SRS

$126 OUE (24 May)

$185.12 Astrea 7 A-1 PE Bond (27 May)

$212.64 Frasers Centrepoint Trust (30 May)

$75.55 Suntec Reit (30 May)

$530.91 SSB (1 Jun)

$188 ST Eng (5 Jun)

$458.00 MPACT (6 Jun)

$504.84 Mapletree Ind Trust (10 Jun)

$132.50 Netlink Trust (12 Jun)

$1044 Frasers L&C Trust (18 Jun)

$829.50 Aims Apac Reit (24 Jun)

$461.32 Mapletree Log Trust (26 Jun)

My passive income in Q2 2024 is $10,209.59, a 25% YoY increase from Q2 2023's $8,130.21.

Together with the $6,471.90 passive income in Q1, my passive income in the first half of 2024 is

$16,681.49

At $2,780/month on average, I am contented that my passive income is able to cover most of my basic necessities and essential expenditure. 

I hope to collect more passive income in 2H 2024 to boost my depleted war chest, while staying on the lookout for great investment opportunities for letting the compounding effect do its magic.

My ultimate financial freedom goal is to own an investment portfolio valued at one million dollars yielding at least $60k of passive income annually, or $15k of passive income quarterly. I hope my passive income can hit $30k for 2024 then I will be halfway there.

I shall continue to live frugally, save up, invest in any bear or bull market conditions, slowly and steadily build up my investments. Ignore the fears, noises, distractions. Remain focused and stay on track in the journey towards financial freedom.

After slogging half a year without any break, I am packing my bags and will head to the airport soon for a dividend-funded "free" trip to China today.

Thanks for reading.

With love & peace,

Qiongster

Portfolio Update June 2024

This is a quick update of my investment portfolios for June 2024 before I fly off for a China trip funded by dividends.

My SGX Income Portfolio value decreases to $359k from $365k.

My US/HK Growth Portfolio value inches up to US$18.6k from US$18.5k.

My SRS Ultra Long-Term Portfolio value stagnates at $168k.

The US stock markets have challenged new highs amidst uncertainties over interest rates, ongoing wars and fears of economic recession. US 10-year and 30-year government yields have declined and the Federal Reserve is expected to hold interest rates high with a possibility of no rate cut for the year.

Despite being clouded by uncertainties, immense noises and fears, it is crucial that long-term investors like us always remain calm, unwavered and focused on our investment objectives. Stick to our own plan and continue deploying our financial resources into high quality income-producing instruments such as government-backed risk-free bonds, property assets, or strong growth businesses tactfully according to our own risk appetite.

Besides subscribing to Singapore Savings Bonds and rolling over Alphabet call option, I did not make any other moves in the stock markets. I also collected some dividends towards the end of 2024 mid-year.

Portfolio Actions

Nil

Portfolio Dividends

1. Received $530.91 of dividends from Savings Bonds on 1 Jun.

2. Received $188 of dividends from ST Eng on 5 Jun.

3. Received $458 of dividends from MPACT on 6 Jun.

4. Received $504.84 of dividends from Mapletree Ind Trust on 10 Jun.

5. Received $132.50 of dividends from Netlink Trust on 12 Jun.

6. Received $1,044 of dividends from Frasers L&C Trust on 18 Jun.

7. Received $829.50 of dividends from Aims Apac Reit on 24 Jun.

8. Received $461.32 of scrip dividends from Mapletree Log Trust as 347 shares  on 26 Jun.

SGX Income Portfolio

Portfolio Value = $359k

US/HK Growth Portfolio

Moomoo

US$4.5k

Tiger Broker

US$13k

Syfe Trade

US$1.1k

Portfolio Value = US$18.6k

SRS Ultra Long-Term Portfolio

Portfolio Value = S$168k

Thanks for reading.

With love and peace, 

Qiongster

Applied for Singapore Savings Bonds (SBJUL24 GX24070S) Redeemed SSB (SBDEC18 GX18120X)

 

The July 2024 tranche of Singapore Savings Bonds (SSB) has an average yield of 3.3% over 10 years.

The first 6 years yield a flat 3.26% per annum; 7th year yields 3.29%, 8th year yields 3.38% p.a and 9th, 10th years yield 3.42% p.a.

Even though such yield is lower than other low to risk-free alternatives such as T Bills and money market funds which easily yield more than 3.5% currently, it is higher than many fixed deposit rates on offer by local banks as well as CPF OA rate of 2.5% p.a.

If we also consider the great flexibility, liquidity of SSB for redemption and long-term lock down at above 3% p.a for the next decade, then this tranche of SSB is fairly enticing for us to park our spare cash at zero risk, capital guaranteed for the mid to long-term. 

We could redeem SSB anytime, earning interest at 3% in the short-term while getting back our capital for deployment to other investments or large item purchases unlike T Bills and bank fixed deposits which would incur losses or forfeit of interest with premature withdrawals. Do note that the redemption process of SSB can be up to 1 month of lead time.

As interest rate cuts are on the cards by end 2024, this SSB could be one of the last tranches to have an average yield of above 3%. 

I decided to apply for $15k of this July 2024 tranche using my redemption proceeds from older SSB and war chest funds.

There it goes.

S$1.1b is up for grabs.

The first payment will be on 1 Jan 2025 and this bond will mature on 1 Jul 2034.

If you are interested in this tranche of SSB, do note that the application dateline is today on 25 Jun 2024, 9pm for online applications.

At the same time, I also redeemed an old tranche of SSB (SBDEC18 GX18120X) with an average yield of 2.57% and currently only yielding 2.73% in its 6th year. It is hence a no brainer decision to recycle the funds.

Thank you for reading.

With love & peace,

Qiongster

Why I Paid Off my Income Tax One-time in Full?

 

In life, the only constants are Taxes and Death.

It is the heart wrenching time of the year as we receive Notice of Assessment from IRAS.

My income taxes of ~$3.8k are due by 1 Jul 2024.

I have explored ways to earn miles through paying taxes using payment platforms such as CardUp, IPayMy or CitiPayall.

The lowest admin fee is 1.75% and I am unable to get the $30 new user discount as my accounts do not qualify as new user.

Effectively, I would be buying a mile for $0.014 if I use CardUp or ipaymy with Citibank Premiermiles card from incurring $60+ admin fee.

I decided to skip earning miles from tax payment this year. I will just pay off using Citibank Premiermiles card on AXS without any benefit, saving up $60+ from buying miles while enjoying deferred tax payment of 1 mth from the credit card cycle. In today's high interest rate environment, the yield from $3.8k for 1 mth at 3% p.a is around $10.

There it goes.

Why not GIRO instalments? I hated continual liabilities and by paying off the taxes one-off, it gives me a peace of mind and greater freedom feeling of being debtless.

Thanks for reading.

Regards,

Roy

Net Worth Update June 2024

 

I am happy to share my net worth for June 2024! It has reached S$1.643 million, another record high thanks to contributions to my CPF, salary savings and some dividend collections.

Asset Breakdown:

Safe Heavens (62%)

CPF (37%): Huge shoutout to my CPF for making a significant portion of my wealth. Attaining Full Retirement Sum FRS in 2022 was a great accomplishment.

Cash and war chest (15%): My cash is strategically placed in fixed deposits and Fullerton cash funds earning over 3% p.a.

Bonds (10%): A mix Singapore Savings Bonds and Astrea bond provides stability. I am planning to add to this with the upcoming Jul 24 SSB with average yield of 3.3%. 

Retirement Savings (8%)

SRS: I have already maxed out the $15.3k contribution limit for 2024, adding another layer to my retirement savings plan.

Income and Growth Assets (32%)

Stocks and Reits (24%): This portion of my portfolio caters for generation of passive cashflows and potential growth, with a focus on long-term compounding growth through dividend investing.

Tracking net worth is not just about the final figure. It is about seeing the results of all those past financial decisions. This update is a reminder that every step forward, big or small, is worth celebrating. This keeps me motivated on the journey towards financial freedom. 

Thank you for reading!

With love & peace,

Qiongster

Portfolio Update May 2024

Here is an update of my investment portfolios for May 2024.

My SGX Income Portfolio value dips slightly to $365k from $366k.

My US/HK Growth Portfolio value inches up to US$18.5k from US$17.9k.

My SRS Ultra Long-Term Portfolio value increases to $168k from $163k mainly due to dividends collected.

The US stock markets have challenged to sustain its highs amidst uncertainties over interest rates, ongoing wars and fears of economic recession. US 10-year and 30-year government yields have rebounded and the Federal Reserve is expected to hold interest rates high with a possibility of no rate cut for the year.

Despite being clouded by uncertainties, immense noises and fears, it is crucial that long-term investors like us always remain calm, unwavered and focused on our investment objectives. Stick to our own plan and continue deploying our financial resources into high quality income-producing instruments such as government-backed risk-free bonds, property assets, or strong growth businesses tactfully according to our own risk appetite. 

Portfolio Actions

Nil

Portfolio Dividends

1. Received $463.50 of dividends from Savings Bonds on 2 May.

2. Received $850 of dividends from UOB on 9 May.

3. Received $188 of dividends from ST Engineering on 14 May.

4. Received $165 of dividends from Wilmar on 14 May in SRS.

5. Received $540.54 of dividends from DBS on 20 May.

6. Received $2,100 of dividends from OCBC on 20 May in SRS.

7. Received $126 of dividends from OUE on 24 May.

8. Received $185.12 of dividends from Astrea 7 A-1 PE Bond on 27 May.

9. Received $212.64 of dividends from Frasers Centrepoint Trust on 30 May.

10. Received $75.55. of dividends from Suntec Reit on 30 May.

SGX Income Portfolio

Portfolio Value = $365k

US/HK Growth Portfolio

Moomoo

US$4.1k

Tiger Broker

US$13.4k

Syfe Trade

US$1k

Portfolio Value = US$18.5k

SRS Ultra Long-Term Portfolio

Portfolio Value = S$168k

Thanks for reading.

With love and peace, 

Qiongster