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Monday, May 31, 2010

My Investment Portfolio (May 2010)

The market finally underwent a minor correction as worries on various fronts had finally managed to bring it down to an attractive level. Major worries include depreciation of Euro, worries about PIIGS, North-South Korean tension, Germany's ban on short selling, China property market overheating etc. My portfolio had not been seriously hit in this latest round of sell down, as I have adopted a defensive strategy for my portfolio construction since early this year.

For my top 30 stock holdings, ABR Holdings appeared in it for the first time. Certainly, investors finally began to appreciate this small F&B play. Some insider buying also managed to support its share price as it outperformed most of my other holdings this month. Parkway Holdings also moved up a few places after Malaysian sovereign wealth fund Khazanah launched an $835 million partial offer for it.

For this month, I have converted Viz Branz company warrants to ordinary shares. Aqua-Terra and SSH Corp had also been taken over via Scheme of Arrangment by KS Energy. I have re-invested the proceeds back into the market and also continue to hold onto my KS Energy shares from the SOA.

Taking advantage of market weakness and the dividends received from companies having financial year ending 31 December 2009, I had made my biggest capital outlay into the market this month for year 2010 so far. I have bought the following companies from the open market this month - Action Asia, Afor, AsiaMedic, Asia Enterprises Ltd, Aspial Corp, Auric Pacific, CFM Holdings, China Gaoxian, Del Monte Pacific, FJ Benjamin, Fuxing, GK Goh Holdings, ITE Electric, Koh Brothers, Lee Kim Tah, Nam Lee Holdings, New Toyo, Pacific Century, PSC Corp, Roxy Pacific, Ryobi Kiso, SingTel, SMB United, Thai Village, Tuan Sing, UIS and Wheelock Properties.

Next month, I will continue to re-invest dividends received from my holdings back into the market. I will also be looking to convert some of my outstanding company warrants to ordinary shares if there is no new investment opportunities in the market.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 May 2010)

Top 30 Holdings (Sing$ Denominated shares)
1. Noble Group
2. SGX
3. F&N
4. Jardine C&C
5. A-REIT
6. Parkway Holdings
7. CapitaMall Trust
8. SembCorp Marine
9. KepLand
10. Bukit Sembawang Estates
11. Raffles Education Corp
12. CapitaLand
13. CitySpring Infrastructure Trust
14. K-REIT Asia
15. Low Keng Huat
16. Cosco Corp
17. Hong Leong Finance
18. CapitaCommercial Trust
19. Wheelock Properties
20. ComfortDelgro
21. CDL H-Trust
22. Transpac Industrial Holdings
23. Pacific Andes
24. Ascendas India Trust
25. OCBC Bank
26. Keppel Corp
27. VICOM
28. PSL Holdings
29. ABR Holdings
30. Cheung Woh Technologies

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. Fortune REIT
2. Tan Chong International

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

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
4. China Printing & Dyeing Holdings
5. FerroChina Limited
6. General Magnetics

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

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7 Comments:

Blogger Sculpture Collector said...

How do you select & add stocks into your portfolio? i.e balancing the portfolio without over weight on certain stocks. Do you use portfolio's overall PE or PB ratio i.e. these ratios should fall within certain range? OR certain stocks should not go beyond certain percentage of the total portfolio?

7:02 AM  
Blogger ghchua said...

Hi Sculpture Collector,

I don't have my portfolio's overall PE or PB ratios. I look at each individual stock based on its own merits and choose to add those which I think is undervalued and/or got good potential.

I do consider a stock's percentage of my total portfolio when deciding whether I should add more into it. My rule of thumb is try not to have more than 3% exposure in any one stock.

7:57 PM  
Blogger Sculpture Collector said...

Thanks

8:07 PM  
Blogger JW said...

Hi ghchua,

can share your thoughts on SP Ausnet vs CitySpring?

I have CitySpring but no SP Ausnet yet.


Btw, can we exchange blog links too? :)

10:33 PM  
Blogger ghchua said...

Hi JW,

I think both are good yield plays that you can consider for your portfolio. Both own infrastructure assets which offers steady cash flow which in turn meant that your dividends should be quite predictable.

I don't really prefer one over the other, and I have participated in their rights issues last time round. They have also consistently met their dividend forecast.

Okie. Will put up your link at my blog. :)

1:21 AM  
Blogger michel said...

I believe that there's potential in ABR, but I don't like the fact that their investor relations page isn't comprehensive, with only annual reports but not regular announcements or updates. Do you judge a company by how how it communicates with its shareholders? Or do you deem it sufficient to retrieve this information from the SGX site?

7:39 AM  
Blogger ghchua said...

Hi michel,

Investor IR is just one of the criteria I used for judging companies. Some of my best performing companies in fact do not have good IR. Small companies like ABR will not be able to spend much money for IR, and some family owned business are quite shy to do IR too.

I judge a company as a whole and not just on IR alone. Yes, you can get information on SGX website if you want to get the latest announcements on those listed companies.

7:19 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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