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Friday, April 28, 2006

My Investment Portfolio (April 2006)

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 April 2006)

Today is a down day....What better time to look at my portfolio and see how it hurts.....Well, actually not much impact as it is well diversified. Anyway, here it is....

Top 30 Holdings (Sing$ Denominated shares)
1. Raffles Education Corp
2. A-REIT
3. Inter-Roller Engineering
4. SGX
5. Jaya Holding
6. Noble Group
7. KS Energy
8. Cosco Corp
9. OSIM International
10. WBL Corp
11. ComfortDelgro
12. Unisteel Technology
13. SembCorp Marine
14. F&N
15. SPC
16. CapitaMall Trust
17. Capitaland
18. Isetan
19. Keppel Land
20. Wheelock Properties
21. Keppel Corp
22. Jardine C&C
23. Singapore Food Industries
24. HTL International
25. Sembawang Kimtrans
26. Hartford Education Corp
27. People's Food Holdings
28. MFS Technology
29. Hong Leong Finance
30. SIA Engineering

Top 5 Holdings (US$ Denominated shares)
1. Jardine Strategic
2. Hong Kong Land
3. Dairy Farm
4. Want Want Holdings
5. Mandarin Oriental

Top Holdings (HK$ Denominated shares)
1. Fortune REIT
2. Tan Chong International

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

Top 5 Holdings (CPF OA investment)
1. CapitaMall Trust
2. Keppel Corp
3. STI ETF
4. A-REIT
5. Boardroom

My Unit Trust Portfolio:
http://www.fundsupermart.com/main/community/Portfolio_View.svdo?id=P199

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15 Comments:

Blogger briantan said...

Hi

Its me again.

8% is quite reasonable. Singapore stocks would have done well in recent times.

I'm quite impressed with DIY investors who have to work full time and still manage to handle their investments.

We've achieved between 6-15% pa for our clients with globally diversified portfolios.

We're dedicated 24/7 to investments, and there's so much happening in the global economy and a huge amount of information.

With regards to the Asian bias, I meant the 58% in FSM in Asia and your Singapore stock portfolio combined.

Of course, taking your entire portfolio outside of Singapore equity and FSM into consideration, it might not be very much into Asia.

We do agree with the valuations for certain Asian countries like Malaysia and Thailand.

I'm sure you're aware of this but I would also watch the Indian fund closely.

If you're interested, I could share with you how we construct SRS portfolios.

Brian

7:41 PM  
Blogger Aragorn said...

hi ghchua,

noticed any undervalued stocks recently?

=)

6:07 PM  
Blogger Aragorn said...

hi ghchua,

just wondering, do you hold sincere watch?

what do you think of the company?

its trading at about 8-9 of FY05 PE.

8:59 PM  
Blogger ghchua said...

Hi braintan,

I'am very overweight in S'pore simply because I believe in home advantage when investing. In fact, I hold only SGX-listed stocks currently.

Investing overseas is not very tax friendly at all. Dividends from my SGX-listed stocks have some tax credits and I can use them to offset my income tax every year. The reason why I haven't contributed to SRS to date is simply because of my section 44 tax credits from those S'pore sourced dividends.

After deducting my tax credits, IRAS will have to refund me every year. Therefore, this is a great advantage which investing overseas do not have.

Hi Aragorn,

I do hold Sincere Watch and in fact I had been a shareholder of this company for quite sometime. It is currently very close to my top 30 holdings on my last check and I do like this stock very much.

It is a slow and steady stock. Not your typical China stocks which can give you great gains in a short span of time, but a good stock to hold in the long term.

The company had managed to deliver so far, and their overseas expansion strategy is doing well. Dividend yield is quite decent also.

Undervalued stocks? Well, they always pop up now and then. In fact, I had recommended forumers at sgfunds.com to look at Superbowl and Hiap Moh, which in my view offers great value to current price.

2:16 AM  
Blogger Aragorn said...

ok. thank you.

5:07 AM  
Blogger Aragorn said...

Hourglass is interesting too, but Sincere is better with lower PE and higher ROE.

5:32 AM  
Blogger Aragorn said...

hi ghchua,

you have tan chong, too.

i read an article about TCI in the edge magazine,

im gonna do some research on this coy.

8:10 PM  
Blogger ghchua said...

Hi aragorn,

I do hold Hour Glass and it is one of my minor holdings. Yes, it is trading below NTA and they gave a good dividend last year.

But they do have a lot of stocks in their balance sheet. I suspect those are inventories that they kept and might not be able to fetch the NTA value if they sold everything off and liquidate their business.

That might explain the reason why it had been trading at a discount to NTA for such a long time.

9:34 PM  
Blogger briantan said...

Hi ghchua,

I'd like to coyly play devil's advocate and propose that investing in Singapore may have some inherent home bias.

However, from the tax aspect, it does make sense. However, what do you intend to do after 2007?

1:40 AM  
Blogger ghchua said...

Hi briantan,

When you invest in S'pore-listed companies, you are not investing in S'pore only. With globalisation, many S'pore companies derived their profits from overseas and one can't say that the risk when investing in S'pore is country specific risk. It is not.

Even after 2007, without the tax credit, S'pore's corporate tax rate is still one of the most competitive in the world. Therefore, from the taxation point of view, investing in the local market is still valid.

Of course, the other factors like familarity with the companies and being able to physcially attend the AGMs to know more about the companies are some of rhe advantage of investing locally. You can't have these advantage when you invest in other markets.

9:20 PM  
Blogger Aragorn said...

hi Boss!

i am going to buying the STI ETF.

what do you think??

instead of spending time researching and tracking stocks....i can spend more time on studies, career, family..

with STI ETF, i own a large basket of BLUE BLUE chips!!

after that, intend of do the poems share builders plan into the sti etf....DCA...

..your views pls.

thank u

8:22 AM  
Blogger ghchua said...

Hi aragorn,

I've replied to you via sgfunds.com PM. Check it out! :)

8:59 PM  
Blogger Aragorn said...

hi boss,

i dun agree completely, but, thank you.

=)

1:03 AM  
Blogger Aragorn said...

a bigger problem is that sti etf is made up of some not so good stocks like

a.creative
b.nol

etc.

7:37 PM  
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5:52 PM  

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A self-directed investor, looking to invest for retirement needs and bypass all those expensive financial planners/insurance agents. Investing is fun, profitable or most important of all, knowledge gained is useful for the rest of your life!

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