My Investment Portfolio (July 2009)

STI closes above 2650 points at the end of this month. Some investors had been saying about STI hitting new lows a few months back and now some are coming out to say that a "bubble" might be happening in the market. As a long term investor, I will continue to ignore all these noises and concentrate on building my portfolio instead.

I have subscribed to a few rights issues this month - namely NOL, Pacific Andes, Europtronic, Golden Agriculture, Berlian Laju and KS Energy. Other than that, I also bought some small cap names from the market as blue chip stocks seem to be fairly valued to me at this moment.

As for my top 30 holdings portfolio changes, Rotary Engineering had a great run this month which means a place in my top 30 for the first time. Their ability to secure contract in the Middle East certainly impresses investors. Kingsmen Creatives also appeared in my top 30 list for the first time. I like their good cash flow and exposure to big MICE events.

Next month, it will be more rights issues for me. The big ones include StarHill Global REIT, Frasers Commercial Trust and Global Yellow Pages. As usual, I will reserve some cash for these rights issues which means I might not be able to purchase much from the market.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 July 2009)

Top 30 Holdings (Sing$ Denominated shares)
1. SGX
2. Raffles Education Corp
3. Noble Group
4. F&N
5. Jardine C&C
6. A-REIT
7. CapitaMall Trust
8. SembCorp Marine
9. Bukit Sembawang Estates
10. CapitaLand
11. Hersing
12. Parkway Holdings
13. SPC
14. ComfortDelgro
15. KepLand
16. Cosco Corp
17. Hong Leong Finance
18. Wheelock Properties
19. Pacific Andes
20. Ascendas India Trust
21. Rotary Engineering
22. Keppel Corp
23. OCBC Bank
24. SingTel
25. KS Energy
26. CapitaCommercial Trust
27. Kingsmen Creatives
28. Straits Trading
29. Low Keng Huat
30. WBL Corp

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

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

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

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

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

My Unlisted Company Portfolio
1. Automated Touchstone Machines Ltd
2. Iconic Global Limited
3. Greatronic Limited

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

My Last CK Tang Annual Report

Dear readers,

Be warned. This is an emotional post.

I have received my CK Tang annual report yesterday for financial year ending 31 March 2009. Happy to receive the report as I am a shareholder of CK Tang for more than 6 years. Sad to receive the report as I am going to part with my shares due to their delisting plan from SGX.

It is indeed an emotional ride with CK Tang for minority shareholders like me for the past few years. Two previous attempts to delist and privatise the company had not been successful, and this latest attempt should succeed since the free float of the shares is now at around 12% only. Having said that, it is a pity that the value investor in me which urges me to hold on and wait for the value of their Orchard Road property to be realized (which they do not wish to sell), while the growth investor in me urges me to take their delisting offer and re-invest into other better opportunities. In fact, with the upcoming StarHill Global REIT (which also holds Orchard Road properties) rights issue, I am tempted to re-invest into it.

After delisting, it would not be easy for me to sell my CK Tang shares if I wanted to. Also, the value in the stock might not be realized forever if they do not wish to sell their properties. There is also an opportunity cost to stay invested in a stock that pays little or no dividends throughout the years.

A value investor at heart, I am sad to make a decision but I would like to say so long to CK Tang!