Wednesday, 30 May 2018

(Post 29/week 22)Investment project updates:Posb invest saver,Moolahsense and Funding societies(First campaign experience)

6.Posb invest saver

Regular saving plan updates for ABF Singapore Bond Index Fund(A35)

For my regular saving updates for the month of May 2018 was written last week, see my last week post here

As of now (23 MAY 2018), I am currently holding 1641 unit/shares. This week has been a pretty normal week for A35 with it hanging around the range of 1.11 to 1.12


Honestly, I regretted a little for having missed the boat at last Friday where A35 was hanging around at 1.108 but nevertheless will still continue to wait out and see before putting in a lump sum

Regular saving plan updates for Nikko AM Singapore STI ETF(G3B)

As I have just started a new regular saving plan for STI ETF via posb just this month, I am currently holding only 27 units so far. As to why I started a new regular saving plan, it was because I found myself monitoring the share price of the STI ETF(in this case i am also monitoring the ES3, which is basically also another STI ETF but is managed by different companies) too often ever since I sold off my entire STI ETF that I have accumulated from 2016, read more about it here

Nevertheless, STI ETF(G3B) doesn't seem to make a huge drop yet despite much negative news like trade wars, the month of may etc. Will continue to wait out and see how it goes.

7.Moolahsense

As I have mentioned in my moolahsense post last week, read here. I will not be venturing into anymore Peer to peer lending platform anytime soon unless my delinquent investments in moolahsense will start paying back. Hence, no further comment. Will reveal more of the funding campaign I have taken part in moolahsense probably in the next few posts


8.Funding societies

So far, I have only one campaign with Funding societies, with a delinquent campaign in moolahsense(see above), I will not be venturing into Funding societies anymore until the delinquent payment in moolahsense start to pay back

My first campaign with Funding societies

Funding societies have already omitted the name of the company in the first place as i mention in my last post. Here is some detail from my first campaign(and maybe last) with funding societies which have just completed paying back the principal and the interest


Loan details

Loan recommended amount:$1,000,000
Tenure(No of months):3
Simple interest rate P/A:9.00%
Effective interest rate P/A:9.38%
Industry: Construction
Dp credit payment grade: N/A
Dp expected default probability: N/A
Security: Related company corporate guarantee
Purpose: Working capital
Documents receive: Last 9-month bank statements, FY 2015, 2016 & 2017 Audited Financials, 1H FY2018 Unaudited Financials Directors' Questnet Search, Borrowing Company's Questnet Search, FY2015, 2016 & 2017 Audited Financials for Corporate Guarantor, Corporate Guarantor's Questnet Search

After 18% service fee of loan interest
Monthly net return amount:$6150.00
Net return amount:$1018,480.00
Net simple interest rate %:1.85%
Simple interest rate %:7.38%
Effective interest rate%:7.64%

Investor repayment schedule

Month 1

Principal:$0.00
Interest:$7500.00
Fee:$1350.00
Total:$6180.00

Month 2

Principal:$0.00
Interest:$7500.00
Fee:$1350.00
Total:$6180.00

Month 3

Principal:$1,000,000
Interest:$7500.00
Fee:$1350.00
Total:$1,006,180.00

Will continue more about my first campaign with funding societies post this week!

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