My Investment Portfolio (June 2025)

STI ended first half of the year at 3964 points, up around 1.8% for the month and up around 4.7% year to date. Markets were up during the early part of the month on stronger than expected payrolls result and President Trump’s push to cut interest rate. Also, anticipation of trade deal conclusion between US and China further added to the positive outlook. However, escalated tensions in the Middle East towards the middle of the month capped its upside though it recovered as the month closes.

For my top 30 holdings this month, most stocks in the list did well. Hong Leong Asia and UOB Kay Hian are the new entries into the list, replacing F&N and SBS Transit. Main contributors include The Hour Glass and Tat Seng. Laggards include Hotel Grand Central and Jardine C&C.

I have bought the following companies from the market this month - AF Global, Baker Tech, Banyan Group, Bonvests, Brook Crompton, Bund Center, Chuan Hup, Delfi, Digilife Tech, EnGro, F&N, Far East Orchard, Frasers Property, Golden Agri, GuocoLand, Hiap Hoe, HL Global, Ho Bee Land, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, Innotek, IPC Corp, Jardine C&C, Khong Guan, Metro, PSC Corp, Qian Hu, Riverstone, Secura, Singapore Shipping, Singapura Finance, Stamford Tyres, Straits Trading, Sunright, Tuan Sing, Tye Soon, Venture, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Ban Leong.

My stake in PEC had also been acquired via Scheme of Arrangement.

Next month will be another AGM season, with companies having financial year ending 31 March 2025 holding their AGMs. It will also be another low dividend paying month. As usual, I will continue to re-invest those dividends back into the market at a slower pace, in anticipation of the various headwinds ahead.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 June 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hotel Properties

3. Sembcorp Industries

4. Hong Leong Finance

5. The Hour Glass

6. Sing Investment & Finance

7. Hong Fok

8. LHT

9. Stamford Land

10. Bonvests

11. Singapore Land Group

12. Wing Tai

13. SGX

14. Bukit Sembawang Estates

15. Hong Leong Asia

16. Multi-Chem

17. DBS

18. UOB Kay Hian

19. Far East Orchard

20. SingTel

21. UOL

22. Hotel Grand Central

23. Tat Seng

24. Yeo Hiap Seng

25. PM Data

26. Jardine C&C

27. Samudera Shipping

28. Haw Par

29. CapitaLand Integrated Commercial Trust

30. ST Engineering

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources

My Investment Portfolio (May 2025)

STI ended May at 3894 points, up around 1.6% for the month. Markets were mixed as investors grappled with a fresh wave of uncertainties surrounding global trade and also reduced tariffs between US and China. However, towards the end of the month, it recovered some lost ground.

For my top 30 holdings this month, Amara Holdings is out of the list after I accepted a voluntary conditional general offer from the offeror. LHT also received an offer to purchase its assets and business. Contibutors include Hotel Properties, Stamford Land and Bukit Sembawang Estates. Laggards include Bonvests, Haw Par (due to XD) and Jardine C&C. F&N returned to the list while ST Engineering is a new entry.

I have bought the following companies from the market this month - A-Sonic, ABR, Baker Tech, Banyan Group, Brook Crompton, Bund Center, Chuan Hup, Delfi, Digilife Tech, EnGro, F&N, Far East Orchard, Frasers Property, Golden Agri, GuocoLand, Heeton, Hiap Hoe, HL Global, Ho Bee Land, Hong Fok, Hotel Royal, Hotung, Indofood Agri, Innotek, Karin, Keong Hong, Khong Guan, Koh Brothers, Metro, Nippecraft, OUE, OUE Healthcare, PNE Industries, Qian Hu, Riverstone, Sing Investment & Finance, Singapore Land Group, Singapura Finance, Stamford Land, Stamford Tyres, Straco, TIH, Tuan Sing, Tye Soon, Vibropower, Vicplas and Wing Tai. No sale trade was done.

I have accepted the following voluntary delisting/cash offers this month - Amara Holdings and Sinarmas Land.

I have also participated in the following scrip dividend schemes - CSE Global, Global Investments, Straits Trading, Tuan Sing, UOA, UOB Kay Hian and Yeo Hiap Seng.

Next month will be another quiet month. As usual, with the dividends received from this month, I will be investing prudently back into the markets. With many headwinds ahead despite lower volatility in the markets, my focus will still be on seeking value while limiting growth.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 May 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hotel Properties

3. Sembcorp Industries

4. Hong Leong Finance

5. Sing Investment & Finance

6. LHT

7. Hong Fok

8. Bonvests

9. The Hour Glass

10. Stamford Land

11. Singapore Land Group

12. Bukit Sembawang Estates

13. SGX

14. Multi-Chem

15. Wing Tai

16. DBS

17. SingTel

18. Hotel Grand Central

19. Far East Orchard

20. Jardine C&C

21. Yeo Hiap Seng

22. UOL

23. ST Engineering

24. SBS Transit

25. Haw Par

26. Samudera Shipping

27. PM Data

28. Tat Seng

29. CapitaLand Integrated Commercial Trust

30. F&N

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources

My Investment Portfolio (April 2025)

STI ended April at 3832 points, down around 3.5% for the month. Markets were sold off badly early in the month due to concerns on trade wars. The on and off tariff announcements from US further increased market uncertainty. Volatility also increased significantly this month. However, towards the end of the month, markets recovered some lost ground.

I have attended the following physical AGMs/EGMs/briefing this month - Great Eastern, UOI, Seatrium, Amara Holdings, Ho Bee Land and Koh Brothers.

For my top 30 holdings this month, many changes were observed due to the volatile market. Amara Holdings is the new top holding after having received a voluntary conditional general offer from a consortium. Other main contributors include LHT, SGX, SingTel and SBS Transit. Most of the other stocks in the list did not do well, with the main detractors being iFAST, PM Data and DBS. Singapura Finance meanwhile, returned to the list.

I have bought the following companies from the market this month - Advanced, Avi-Tech, Baker Tech, Banyan Group, BBR, Bonvests, Brook Crompton, Bund Center, Chemical Industries, Delfi, EnGro, F&N, Far East Orchard, Frasers Property, Golden Agri, GRP, GuocoLand, Heeton, Hiap Hoe, HL Global, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hongkong Land, Hotel Grand Central, Hotel Properties, Hotel Royal, Hotung, IFS Capital, Indofood Agri, Innotek, IPC Corp, KSH, Lum Chang, Mandarin Oriental, Metro, MYP, Noel Gifts, OUE, Overseas Education, PNE Industries, PSC Corp, Qian Hu, Sing Holdings, Singapore Land Group, Singapore Shipping, Stamford Land, Straco, Straits Trading, Tuan Sing, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Broadway Industrial.

I have participated in the following preferential offer/rights issue - Frasers Centrepoint Trust.

I have also participated in the following scrip dividend scheme - Jardine Matheson.

Next month, companies with financial year ending 31 December 2024 will be mostly paying out their final dividends after holding their AGMs in April. With tariff concerns, markets are expected to remain volatile going forward. As usual, I will re-invest those dividends back into the market prudently, while spreading my purchases to minimize risk. 

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 April 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. Amara Holdings

2. iFAST

3. Hong Leong Finance

4. LHT

5. Sembcorp Industries

6. Hotel Properties

7. Bonvests

8. Sing Investment & Finance

9. Hong Fok

10. The Hour Glass

11. SGX

12. Multi-Chem

13. Singapore Land Group

14. Far East Orchard

15. Jardine C&C

16. Haw Par

17. SingTel

18. Stamford Land

19. Hotel Grand Central

20. Wing Tai

21. DBS

22. SBS Transit

23. Bukit Sembawang Estates

24. UOL

25. PM Data

26. Samudera Shipping

27. Yeo Hiap Seng

28. Singapura Finance

29. CapitaLand Integrated Commercial Trust

30. Tat Seng

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources

My Investment Portfolio (March 2025)

STI briefly touched 4000 points during the last trading day of the month but ended March at 3972 points, up around 2% for the month. Markets were worried about rising tariff wars, US recession fears and Russia-Ukraine conflict progress during the earlier parts of the month. But towards the end of the month, markets staged a relief rally due to US FOMC maintaining two rate cuts for 2025. Due to many concerns, volatility also increased though it stabilised towards the end of the month.

For my top 30 holdings this month, some changes were observed. Main contributors include Sembcorp Industries, Singapore Land Group, Haw Par and UOL. Top detractors include iFAST, Hong Fok and PM Data. Great Eastern and Singapura Finance dropped out of the list while SBS Transit and CapitaLand Integrated Commercial Trust returned.

I have bought the following companies from the market this month - A-Sonic, AF Global, Avi-Tech, Baker Tech, BBR, Bonvests, Bukit Sembawang Estates, Bund Center, Chemical Industries, Chuan Hup, City Developments, Delfi, Digilife Tech, EnGro, F&N, First Sponsor, Frasers Property, Fuji Offset, Goodland, GuocoLand, Hiap Hoe, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hotel Properties, Hotung, Innotek, Jardine Matheson, Koh Brothers, KSH, Lion Asiapac, Low Keng Huat, Lum Chang, Mandarin Oriental, MegaChem, Metro, New Toyo, Nippecraft, Noel Gifts, OUE, OUE Healthcare, PNE Industries, PSC Corp, Riverstone, Shangri-La Asia, Sinarmas Land, Sing Investment & Finance, Singapore Shipping, Singapura Finance, Stamford Land, Straco, Straits Trading, Tan Chong International, Trendlines, Tuan Sing, Tye Soon, Willas Array, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

Next month, companies with financial year ending 31 December 2024 will be conducting their AGMs. As usual, I will try to attend some of these AGMs to get updates from my portfolio companies. With April being a traditionally low dividend paying month, I will slow down my purchases in the market in order to conserve cash for my expenses.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 March 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Leong Finance

4. Sembcorp Industries

5. Sing Investment & Finance

6. LHT

7. Hong Fok

8. Hotel Properties

9. Bonvests

10. The Hour Glass

11. Multi-Chem

12. DBS

13. Singapore Land Group

14. Haw Par

15. Jardine C&C

16. PM Data

17. Far East Orchard

18. Hotel Grand Central

19. Stamford Land

20. Wing Tai

21. Samudera Shipping

22. SGX

23. Bukit Sembawang Estates

24. Yeo Hiap Seng

25. Tat Seng

26. UOL

27. SBS Transit

28. SingTel

29. F&N

30. CapitaLand Integrated Commercial Trust

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium Ltd

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources

My Investment Portfolio (February 2025)

STI ended Februrary at 3895 points, up around 1% for the month. STI managed to hit a new all-time high level this month even as markets were worried about tariffs and hawkish US Fed comments. In Singapore, Budget 2025, company earnings reports and MAS Equities Market Review Group proposed measures were closely watched. Due to many concerns, volatility had also increased this month.

I have attended the following physical AGMs/EGMs/briefing this month - Delfi and Wee Hur.

For my top 30 holdings this month, investors were mostly reacting to company earnings reports. Main contributors include iFAST, Sembcorp Industries, Multi-Chem, SGX, Haw Par and F&N. Top detractors include LHT, Jardine C&C and Wing Tai. Hiap Hoe dropped out of the list while UOL returned. 

I have bought the following companies from the market this month - AF Global, Alliance HC, Baker Tech, Bonvests, Brook Crompton, Bukit Sembawang Estates, Bund Center, Captii, Delfi, Digilife Tech, F&N, Far East Orchard, Frasers Property, Global Testing, GuocoLand, Hiap Hoe, HL Global, Ho Bee Land, Hock Lian Seng, Hotel Properties, Hotel Royal, Hotung, IFS Capital, Indofood Agri, Innotek, Jardine Matheson, Kingsmen, Lion Asiapac, Low Keng Huat, Mandarin Oriental, Metro, OUE, OUE Healthcare, Plato Capital, Raffles Medical, SBS Transit, Shangri-La Asia, Sing Holdings, Singapore Land Group, Stamford Land, Straco, Sunright, Tat Seng, Tye Soon, UOL, Venture and Wing Tai. I have also reduced my stake in Aspen Group and closed my position in Matex International.

Next month will be another quiet one with not much corporate activities as investors digest those full-year results from companies with financial year ending 31 December 2024. I will continue to go through some of those result announcements that I have missed out in February. With volatility increasing this month, I will continue to be more defensive in my portfolio positioning going forward.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 February 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Leong Finance

4. Hong Fok

5. Sembcorp Industries

6. Sing Investment & Finance

7. LHT

8. Bonvests

9. Hotel Properties

10. The Hour Glass

11. Multi-Chem

12. PM Data

13. DBS

14. Jardine C&C

15. Hotel Grand Central

16. Far East Orchard

17. Stamford Land

18. SGX

19. Singapore Land Group

20. Haw Par

21. Samudera Shipping

22. Bukit Sembawang Estates

23. Wing Tai

24. Yeo Hiap Seng

25. F&N

26. SingTel

27. Tat Seng

28. Singapura Finance

29. UOL

30. Great Eastern (Suspended)

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. PM Data

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources

My Investment Portfolio (January 2025)

STI ended the first month of the year at 3855 points, up around 1.8% for the month aided by gains during the last trading day of the month as US Fed paused interest rate cuts. Markets were worried about US Fed’s interest rate trajectory earlier this month due to inflation data and employment numbers reported. Also, US President Donald Trump’s business policies had been closely watched. Towards the end of the month, the emergence of DeepSeek seems to affect confidence in some AI related stocks.

For my top 30 holdings this month, some changes were observed as investors returned to the market. Main contributors include LHT, Multi-Chem and Singapore Land Group while Amara Holdings and F&N were among the top detractors. Metro Holdings dropped out of the list while SingTel returned. Meanwhile, Great Eastern was granted a further extension of time to comply with listing rules and remain suspended. AV Jennings, my Top Holding (Aust$ Denominated shares) had received a higher completing bid from Ho Bee Land.

I have bought the following companies from the market this month - A-Sonic, Asia Vets, Baker Tech, Bonvests, Brook Crompton, Bukit Sembawang Estates, Bund Center, Captii, CDW, Chemical Industries, City Developments, Delfi, Digilife Tech, F&N, Far East Orchard, Goodland, GuocoLand, Hiap Hoe, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotel Properties, Hotel Royal, Hotung, IFS Capital, Indofood Agri, Innotek, Jardine Matheson, Karin, Khong Guan, Koda, Lion Asiapac, Lum Chang, New Toyo, Nippecraft, OUE, PSC Corp, Raffles Medical, SBS Transit, Shangri-La Asia, Sing Holdings, Singapore Land Group, Singapore Shipping, Singapura Finance, Stamford Land, Straco, Straits Trading, Tan Chong International, Tuan Sing, UOL, Venture, Wing Tai, Yanlord, Yeo Hiap Seng and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Courage Investment.

Next month, most companies with financial year ending 31 December 2024 will be announcing their full-year results. As usual, I will go through some of those result announcements. I will also continue to deploy my cash holdings slowly back into the markets, buying mostly value plays in the small and mid cap space plus some selected blue chip stocks. With more volatility, uncertainty and headwinds expected ahead, stock selection becomes more crucial as one attempts to navigate the markets in the Year of the Wood Snake. Gong Xi Fa Cai to all my readers out there!

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 January 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. LHT

3. Hong Leong Finance

4. Amara Holdings

5. Hong Fok

6. Sing Investment & Finance

7. Sembcorp Industries

8. Bonvests

9. Hotel Properties

10. The Hour Glass

11. PM Data

12. Jardine C&C

13. DBS

14. Multi-Chem

15. Hotel Grand Central

16. Stamford Land

17. Far East Orchard

18. Singapore Land Group

19. Wing Tai

20. Bukit Sembawang Estates

21. Yeo Hiap Seng

22. Samudera Shipping

23. SGX

24. Haw Par

25. SingTel

26. Singapura Finance

27. Great Eastern (Suspended)

28. Tat Seng

29. F&N

30. Hiap Hoe

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. PM Data

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources

My Investment Portfolio (December 2024)

STI ended the year at 3787 points, up more 1% for the month and up around 17% for the year. The US Fed as expected cut rate in December but markets were surprised that they guided for lesser cuts next year. Investors sold down stocks in response to US Fed announcements but markets recovered some lost ground towards the end of the month. Volatility also increased this month.

For my top 30 holdings this month, not much changes had been observed in what had been a quiet month. Main contributors include LHT and Sembcorp Industries while PM Data continued to remain weak.

I have bought the following companies from the market this month - Alliance HC, AP Oil, Asia Enterprises, Baker Tech, Brook Crompton, Bukit Sembawang Estates, Bund Center, Chemical Industries, City Developments, Delfi, Digilife Tech, First Sponsor, Goodland, GuocoLand, Ho Bee Land, Hock Lian Seng, Hong Fok, Hotel Grand Central, Hotel Properties, Hotung, IFS Capital, Indofood Agri, Kingsmen, Lion Asiapac, Mandarin Oriental, Metro, MTQ, OUE, Overseas Education, Pollux, Raffles Medical, SBS Transit, Secura, Shangri-La Asia, Singapore Land Group, Singapura Finance, Stamford Land, Straits Trading, Tuan Sing, Tye Soon, UOL, Wing Tai and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Vibropower (warrants).

STI ended the year on a positive note despite another year of volatility. Again, I will be staying invested going into the new year, but will be holding onto some cash as markets seemed to have reached new highs. I will continue to work on my stock selection and portfolio management. As for physical AGMs/EGMs, I have reduced my attendance this year and will look forward to resume attending some of them next year. Hope to meet some of you out there again soon.

Wishing all my readers out there many more great returns in 2025. Happy New Year!

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 December 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Leong Finance

4. Hong Fok

5. Sing Investment & Finance

6. Bonvests

7. LHT

8. Sembcorp Industries

9. Hotel Properties

10. The Hour Glass

11. Jardine C&C

12. PM Data

13. Hotel Grand Central

14. Far East Orchard

15. DBS

16. Stamford Land

17. Wing Tai

18. Yeo Hiap Seng

19. SGX

20. Multi-Chem

21. Bukit Sembawang Estates

22. Samudera Shipping

23. Singapore Land Group

24. F&N

25. Metro Holdings

26. Great Eastern (Suspended)

27. Hiap Hoe

28. Singapura Finance

29. Haw Par

30. Tat Seng

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. PM Data

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as Z-Obee Holdings Ltd)

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources