My Investment Portfolio (August 2010)

STI ended this month on a weaker note, with investors dumping property stocks as the Singapore Government introduced measures to cool down the local property market. Counters with exposure to the local residential market got hit more badly. Nevertheless, 2Q2010 results released by most listed companies had been good, and that might provide support for the market as there had not been a major panic sell-off.

For my top 30 stock holdings, not much changes actually except Parkway Holdings as the share is suspended after the VGO as its free float is less than 10%. Since there is no market price for the stock, I have decided to take it off the list at this moment.

For this month, I have accepted the VGO for all my RSH shares. I have rejected offers for my Parkway Holdings and Design Studio shares, since the offeror did not state whether they are going to delist the companies from SGX yet. I have bought the following companies from the open market - Colex, Eu Yan Sang, Guthrie GTS, Isetan, Latitude Tree, Jason Marine, Koh Brothers Group, Noel Gifts, Portek International, PSC Corp, Qingmei, Singapore Reinsurance Corp, Stamford Tyres, Transview and YHI International.

I have subscribed to the following rights issues - New Toyo, Old Chang Kee and Superior Multi-Packaging. I have also converted the following company warrants to shares - Wee Hur Holdings.

Next month, I will reserve some funds for upcoming rights issues. I am still considering to tender some of my Parkway Holdings shares as it is likely that it will be suspended for quite sometime and I might wish to take the opportunity to re-invest those funds back into market if it weakens further.

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

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

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. General Magnetics
6. Fastech Synergy

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

WEE HUR HOLDINGS LTD W121027

For those holding the above company warrant, maybe it is time to consider converting them to shares. The record date for their upcoming dividend entitlement is as follows:

WEE HUR HOLDINGS LTD. - 3 Sep 2010, 5pm. Interim dividend 1cts per share

Though the warrant expires on 27 OCT 2012, there seem to be no time value in it as it currently trades at around 30cts below the mother shares, which is almost the same as its exercise price (i.e. 30cts).

The main reason I guess is because the warrant is currently deeply in the money, the time value of the warrant is almost zero. Which means, the intrinsic value of the warrant is simply market value of the warrant + exercise price.

For long term investors of Wee Hur, I guess it is time to convert.