Wednesday, June 30, 2010

My Investment Portfolio (June 2010)

It had been a quiet month due to the World Cup going on in South Africa. Therefore, there is not much activity in the market this month and there had been a lack of news flow as well. Instead of deciding which teams to place my bets on, I have decided to concentrate on the market and decide what stocks to buy.

For my top 30 stock holdings, Transpac Industrial Holdings (i.e. TIH) had been a big mover after announcing that they are going to dispose one of their top investment - Foodstar Holdings Pte Ltd.

For this month, I have bought the following companies from the open market - Action Asia, AsiaMedic, Cache Logistics Trust, DBS Group Holdings, Food Junction, Haw Par, Hengxin Technology, Jacks International, Kian Ho Bearings, Multi-Chem, Pan Pacific Hotels Group, Singapore Land, Singapore Reinsurance Corp, Sin Ghee Huat, Tan Chong International, Tiong Seng, Transview, Tuan Sing and UIS.

I have also participated in the following scrip dividend schemes - Cambridge Industrial Trust, Hotel Grand Central, OCBC Bank, SP AusNet, UOB and United Overseas Australia. I have also subscribed to Lafe Corp rights issue. There are also two new entries into my portfolio this month via distribution in specie - Bund Center Investment (From Asia Food & Properties) and K-Green Trust (From Keppel Corp).

I had made my first sell trade of the year this month - Sunway International Holdings after the company decided to delist from SGX but did not provide an exit offer for existing shareholders.

Next month, I will reserve some funds for Hotel Royal and Swing Media rights issue. It is also very likely that I will accept the voluntary unconditional cash offer for my Eng Kong Holdings shares and I will be looking to re-invest those proceeds back into the market as well.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 June 2010)

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



Blogger JW said...

Hi Ghchua,

I was considering to purchase SP Ausnet. Would like to seek your opinion on their lawsuit case. How much do you think it will affect them?

Also, do you think their free float is too high? Is the DRP sustainable in the long run?

Thanks for your views in advance!

11:07 PM  
Blogger ghchua said...

Hi JW,

They have liablity insurance in place and therefore, I think their loss is minimized even if they lose the case. As they had said, they will defend their case and let's see how it goes.

Free float of around 48% is not high. Most of their income is based on availability of electricity transmission/distribution and gas distribution and they are regulated revenue. Therefore, I think that the distribution is sustainable in the long run.

11:46 PM  
Blogger JW said...

Hi ghchua,

thanks for your reply!

My main concern is whether DRP would in the long run result in a decrease in DPU. Any thoughts on this?

12:59 AM  
Blogger ghchua said...

Hi JW,

Dilution will not be a concern if you took up the DRP every time when it comes. Yes, there will definitely be dilution when implementing DRP, but not all shareholders will take up their DRP allocation every time.

I don't see a big issue in DRP dilution though.

1:34 AM  
Blogger JW said...

Hi ghchua,

it's more about the DPU than the dilution.

I was wondering if with dilution due to DRP, would the dividends per unit drop over the long run. It appears that the number of units would increase by 8% compounded annually.

Thanks :)

6:39 PM  
Blogger ghchua said...

Hi JW,

All else, being equal, yes, definitely. But what I meant is that if one took up the DRP everytime it comes along, dilution will not affect them.

8:20 PM  
Blogger Everlearning said...

Hi ghchua.

This morning I checked my CDP holdings, and to my surprice, I received 600 bonus shares from Cheung Woh.

I notice that CheungWoh10 is a new addition. Does it mean I could buy 400 shares to make a complete 1 lot? All I have to do is to place 0.4 under BVol(K) and offer a price under Buy, am I right?

7:47 PM  
Blogger ghchua said...

Hi Everlearning,

You can try CheungWoh10 but there is no need for you to transact in CheungWoh10 if you wish to buy 400 shares. Do remember that CheungWoh10 will be listed only for a limited period of time.

You can always trasact in the unit share market anytime to buy/sell odd lots of Cheung Woh.

9:53 PM  
Blogger Everlearning said...

Hi ghchua,

Thanks for your prompt reply.

I have tried the unit share purchases in the past months, but have zero success. I think I lack your skill and have resumed to SBPlan.

Maybe, I should make another attempt in the unit share market.

10:50 PM  
Blogger Shan Ba Lao said...


Would like to check with you, is Unit Share purchase applicable to CPF-OA?

9:29 AM  
Blogger ghchua said...

Hi Shan Ba Lao,

It is applicable to CPF-OA, provided of course that the stock is included under CPF Investment Scheme.

7:59 PM  
Blogger Shan Ba Lao said...

Where will be the dividend from Share Investment using CPF-OA credited?
1.into CPF-OA account
2.re-invest into the share

10:29 PM  
Blogger ghchua said...

Shan Ba Lao,

It will be credited into your CPF Investment Account with your agent bank.

1:34 AM  
Blogger Shan Ba Lao said...

Is it possible to re-invest the dividend into some share Scrip scheme?

8:52 AM  
Blogger ghchua said...

Shan Ba Lao,

If the company that you have invested had a scrip dividend scheme in place, then yes, you can re-invest those dividend back into the same counter.

However, since most companies listed on SGX do not have a scrip dividend scheme in place, chances are you would not be able to re-invest those dividend back.

10:40 PM  
Blogger Shan Ba Lao said...

I think OCBC has scrip scheme.

7:41 AM  
Blogger ghchua said...

Shan Ba Lao,

Yeap. So, if you are holding OCBC shares in your CPF Investment Account, your agent bank will send you a form for you to indicate your choice whether to take the scrip dividend or just credit those dividend in cash into your CPF Investment Account.

6:34 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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