Looking at the latest financial results of Singapore Press Holdings (for year ended 31 August 2013), net income from investments fell 57.1% from $32.59 m to $13.97 m. Even for previous financial year ended 31 August 2012, net income from investment declined 35.2% from $50.35 m to $32.59 m.
Investment income came from available-for-sale financial assets, internally-managed investments, derivative financial instruments and deposits with financial institutions.
For current financial year, SPH took an impairment charge of $17.6 million on portfolio investments arising from prolonged decline in value. (Source: SPH) This year saw continued slide in investment income for SPH. Such is the difficult investment environment for investors.
If a big company had difficulty in this investment market environment, what more can we say about small time investors.
I see the equity market for Singapore a difficult one on a whole for this year. My Singapore portfolio was down 7.8% as at 11 October 2013. However, I have received 2.5% dividend return on total cost of portfolio and realised gain of 7.8% on sale of investments. On dollar basis, I just about breakeven.
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