Tuesday, November 30, 2010

My Investment Portfolio (November 2010)

STI is weak this month and that is to be expected as it had ran up quite a bit for the past few months. Tensions between North and South Korea, problems in Ireland financial system etc are among the worries that investors have to grapple with. Positioning my portfolio defensively seem to be the way going forward as the year draws to a close and I would try as far as possible to avoid buying high beta stocks and IPOs.

For my top 30 stock holdings, there are not much changes this month except for a new entry - Thomson Medical Centre. The stock rallied on news of a cash offer from Peter Lim. I will continue to hold onto my shares in TMC unless Mr Lim decides to take the company private.

For this month, I have accepted the delisting offers for Eastern Asia Tech, MCL Land and Soilbuild Group. My remaining stake in Parkway Holdings had also been compulsory acquired, since the offeror have decided to delist the company. I have also participated in the following scrip dividend scheme - OCBC Bank.

I have bought the following companies from the open market this month - BBR Holdings, CH Offshore, Colex Holdings, Elite KSB, Food Junction, Forland Fabrictech, Guthrie GTS, Hiap Hoe, Hong Fok, Hotel Royal, IFS, Innotek, Intraco, Isetan, LHT Holdings, Lian Beng, PSC Corp, San Teh, Singapore Reinsurance Corp, Superbowl, Tuan Sing, Tye Soon and Zagro Asia. I have also subscribed to the following rights issues - Allied Tech, Guocoland and HMI.

I have converted the following company warrants to shares - A-Sonic, Metro Holdings, Serial System and Technics Oil & Gas.

As the year draws to a close, it will be good to look back and reflect on my investment portfolio this year. Also, I would like to look ahead to 2011 and draft out my investment portfolio management strategy. A lot of things had been on my mind as I pen out this post, and I will need another post in my blog to do this.

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

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

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. General Magnetics
6. Fastech Synergy
7. Beauty China
8. Memory Devices
9. Jurong Tech
10. FM Holdings

My Unit Trust Portfolio:



Blogger ZhuKoLiang said...

cool lor sifu, u successfully aimed Thomson medical before Peter Lim want to kepok it...

10:16 PM  
Blogger Everlearning said...

Hi ghchua,

Surely, I have benefited much from coming to your blog for the past two years, especially seeking your advice pertaining to certain issues I wasn't familiar with.

Initially, I was groping in the stock market: having no knowledge whatsoever.

As I become a little more knowledgeable, I divested the first few stocks I owned when the market turned bullish. This surely was no mistakes.

Thanks for all the help I received from you. A blessed Christmas and a bountiful New Year 2011 to you.

7:18 PM  
Blogger ghchua said...

Hi Everlearning,

Great to hear from you again. Hope that you will continue learning as you travel through the path of your investing journey.

Wishing you many more returns in 2011! :)

7:38 PM  
Blogger ZhuKoLiang said...

paging for sifu...

map tech wana delist... what is ur opinion?

will u accept their delist offer?

7:51 AM  
Blogger ghchua said...

Hi newbie_george,

I haven't looked at the offer in greater details and therefore I can't comment on it at this moment. But my initial impression is that unless there is a party holding more than 10% to block the delisting resolution, most of the time it will be approved.

Which is left to you and I to decide whether to continue holding onto their shares as an unlisted company or choose to accept the offer.

7:38 PM  
Blogger Everlearning said...

Hi ghchua,

Looks like I am in the same boat as you. I have Map Tech in my portfolio. Now, what?

It is quite nasty if the listed company does such a thing, because those who bought at a higher price will suffer a great loss.

Maybe at this point of view, trying to average down the price seems logic. This is merely my personal view.

Now, I am caught in a thinking process...

12:45 AM  
Blogger ZhuKoLiang said...

i got a very big headache in reading those thick thick OIS, prospectus, etc...

words words words and words... no pictures, no diagram...

We EEE relies heavily on visuals, circuits, flow chart, etc... without it, i sweat a little in trying to understand..

for me, when my friend discuss homework with me over the phone, she says the Vd, the V-be, the current, etc etc... --> i can't understand without the circuit in front of me..

in contrast, my friend who is in business school, can discuss business concepts over the phone.. :)

11:16 AM  
Blogger ghchua said...

Hi Everlearning,

If you have subscribed to their massive dilution 4 for 1 rights issue at only 1 cts per share last year, you would be happy to accept the delisting offer.

I guess investors who got those rights shares possibly will accept the delisting offer. I think it is almost a done deal that the delisting will go through

8:26 PM  
Blogger ghchua said...

Hi newbie_george,

I guess it is a different way to analyze details. For business people, they normally have legal people, accounting people, corporate finance people etc to analyze stuff for them. They only need to make a decision based on inputs from these people. Therefore, they do not need diagrams, pictures etc to analyze stuff, because at the end of the day, they make decisions based on these people's inputs.

For Engineers like us, we do the hard work to analyze details. Therefore, we need whatever aid that we can use to help us.

But as a private investor, I understand that I need to analyze businesses too. I don't have lawyers, accountants, analysts etc to help me. But from experience, I do know what to read and what to skip when reading those OIS, prospectus etc. There is no need to read every page in these documents and you will be better as you get more experienced.

8:32 PM  
Blogger Everlearning said...

Hi ghchua,

I bought Map Tech after the right issues, but below the delisting offer.

I am not expecting such a new stock to go delisted. And this will be my very first stock to say bye-bye to me.

I might as well take this opportunity to learn how to go through the delisting process, a little apprehensive though.

5:09 PM  
Blogger ghchua said...

Hi Everlearning,

It is not the first time whereby I experienced a stock which had been listed for only a few years and then the majority shareholder decided to take it private. I don't really like it because it meant that you are "forced" to liquidate your holdings before you can realize its full value and merits of long term investing.

What I can do is to always have a list of companies whereby I deem good for long term investing. I will accept the delisting offer (if the resolution had been passed) and then immediately re-invest those proceeds into other companies.

7:41 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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