My Investment Portfolio (May 2008)

It had been a month of dividends. Yes, I have received a series of dividend payouts this month from companies having financial year ending 31 December 2007. AGMs of these companies were held in April this year and their final/special dividend payout had to be approved by shareholders at the AGM. So, most of them paid out their dividends around 2 to 3 weeks after their AGM, which explains why I received so many dividends this month. Furthermore, REITs and shipping trusts also paid out their dividends this month, which added to my capital to re-invest back into the market.

So, I have aggressively purchased many of my short-listed companies this month. Most of them are my minor holdings which didn't move up with the market lately. I seized this opportunity to add onto them so that my portfolio is more diversified and balanced.

Corporate action had been far and few this month. I have rejected LuYe's offer for AsiaPharm and the offer closes with LuYe failing to secure 90% of the outstanding shares out there. They cannot take AsiaPharm private and it will remain listed. I have accepted Raffles Education's offer for Hartford Education after the delisting resolution had been approved.

Going forward, I will re-invest my dividends collected prudently back into the market, spreading my investments throughout the days so as to reduce the risk. Also, I will add more onto those companies outside my top 30 holdings so as to reduce the dependence on my top holdings to generate portfolio returns.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 May 2008)

Top 30 Holdings (Sing$ Denominated shares)
1. Raffles Education Corp
2. SGX
3. Cosco Corp
4. Noble Group
5. SembCorp Marine
6. F&N
7. A-REIT
8. Hersing
9. Jaya Holdings
10. CapitaMall Trust
11. Keppel Corp
12. Straits Trading
13. KS Energy
14. Jardine C&C
15. SPC
16. CapitaLand
17. Wheelock Properties
18. ComfortDelgro
19. Unisteel Technology
20. Bukit Sembawang Estates
21. Food Empire
22. WBL Corp
23. Keppel Land
24. Mermaid Maritime
25. Pacific Andes
26. Olam International
27. Tat Hong
28. CapitaCommercial Trust
29. SembCorp Industries
30. K-REIT

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

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

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

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

My Hong Kong Stock Portfolio (listed on SEHK)
1. Peace Mark Holdings

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

Accepted Vega Company's offer for SingLun Holdings

I have learnt a lesson last time from the First Engineering offer. That is, once a private equity firm gets interested in your company, it is very difficult to resist the offer. And true to form, Vega's offer for SingLun Holdings hits 90% very quickly. I have unwillingly accepted the offer since Vega do not wish to maintain the listing status of SingLun Holdings.

I am still holding onto my AsiaPharm and Hartford Education shares at the time of writing. Will not be accepting the offer for AsiaPharm since Templeton said that the offer price is too low but will be considering accepting Raffles Education's offer for my Hartford Education shares so that I could increase my holdings in Raffles Education.

My Investment Portfolio (April 2008)

This had been another volatile month. But it is also a sad month for me. Not that my portfolio is doing badly, but I have accepted 4 takeover/delisting offers, namely Robinsons, Sincere Watch, Permasteelisa Pacific and International Capital Investment Limited. I accepted the offer from Peace Mark for Sincere Watch because they changed their mind and decided to delist it from SGX rather than maintain its listing status. For Permasteelisa Pacific and International Capital Investment Limited, it is a foregone conclusion since their delisting resolution had been approved by shareholders.

The offer for Straits Trading from Tecity finally closed with the offeror getting about 89% of the shares at the close of the offer. I didn't accept the offer and remain a shareholder of Straits Trading.

There is also an offer on the table from private equity firm Vega Company for SingLun Holdings. This resulted in a spike in SingLun's share price and that explains why it is currently in my top 30 holdings. Mermaid Maritime also did well this month as I accumulated this counter on weakness last month.

I have also applied for Olam Preferential share issue and K-REIT rights issue this month. Both rights issues come at a very attractive price for long term investors.

Going forward, I will re-invest the proceeds from the above offers into defensive stocks like REITs and business trusts. I will also buy some deeply bombed out China stocks listed on SGX. I will also hold onto my Peace Mark shares (listed in Hong Kong Stock Exchange) from the Sincere Watch offer.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 April 2008)

Top 30 Holdings (Sing$ Denominated shares)
1. Raffles Education Corp
2. SGX
3. Cosco Corp
4. Noble Group
5. SembCorp Marine
6. A-REIT
7. Hersing
8. Jaya Holdings
9. CapitaMall Trust
10. SPC
11. Jardine C&C
12. ComfortDelgro
13. CapitaLand
14. Straits Trading
15. F&N
16. Unisteel Technology
17. Keppel Corp
18. Wheelock Properties
19. Bukit Sembawang Estates
20. Keppel Land
21. KS Energy
22. Food Empire
23. Parkway Holdings
24. WBL Corp
25. Mermaid Maritime
26. SingLun Holdings
27. CapitaCommercial Trust
28. Pacific Andes
29. Guocoland
30. Tat Hong

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

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

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

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

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