February 2023 Returns: -1.13%

Year to Date Returns: 4.63%

Since Inception (9 Sept 2020) Returns: 48.80%

Quick Commentary for the Stocks that released their earnings in February Propnex – The bottom line does not reflect the true story as there has been impairment of trade receivables being recorded under other expenses offset by derecognition of payables recorded as other income. Having said that, gross profit is up while revenue has shown an increase in Q4 and Full Year. The increase of 16.88% in 2H 2022 and 7.5% in FY 2022 is much better than APAC Realty’s -5% in 2H 2022 and -4.8% in FY 2022. The stock recorded a modest increase on 28 Feb and rightly so as it has proven to be able to increase its revenue despite what many would say is a poorer environment due to interest rates. TC Auto – As anticipated, the repeated lockdown in 2H 2022 before the ‘sudden open up’ has resulted in poorer sales in 2H 2022 compared to 1H 2022. Surprisingly, handling and commission fee…