Herman, are you saying the rain soaks through the poncho fabric?
Yes, that is my experience that it soaks through the fabric.
It is made of something called Paratex Dry.
http://www.snugpak.com/technical-information#tech_2 100% Waterproof with a Hydro Static Head in Excess of 5000mm (Items with a Hydrostatic Head over 1500mm are generally considered waterproof)
Only ever used in fully taped seamed systems.
Ripstop Weave
Lightweight
Tough
Breathable (will transmit upto 7.5 litres of moisture per m2 per 24 hours)
Soft to the touch
Completely Windproof (trapping and stopping the movement of warm air in the sleeping bag or Garment)
Outer Fabric treated with a Durable Water Repellant. (water repellancy can be maintained by a cool tumble dry after washing and periodic retreatment with suitable after care products such as Nikwax or Grangers)
Completely manufactured within Europe (Extruded, Woven and Dyed & Finished)
I gues it is that "breathable" part that makes it to allow some moisture to seep through.