Saturday, October 01, 2011

My Investment Portfolio (September 2011)

September 2011 was a bad month for equity investors like me. STI dropped below 2700 points and markets around the world had been sold down badly. The Euro debt crisis was the main cause of the problem as funds withdraw from the markets as fear of recession was evident. For this month, I have attended Oxley and Tee International AGMs and Pertama voluntary delisting and OUE EGMs.

There are many changes in my top 30 holdings list this month. As I've positioned my portfolio very defensively, stocks like F&N, UIS, Bonvests, Sing Investment & Finance, Singapura Finance, Khong Guan Flour Milling, Guthrie GTS, Wheelock Properties, The Hour Glass etc had hold out quite well during market selldown. I continue to underweight STI index heavyweights like banks, big cap property stocks etc in my portfolio.

I have bought the following companies from the open market this month - Asia Enterprises, Chip Eng Seng, Eastern Holdings, FJ Benjamin, GP Industries, GuocoLeisure, Guthrie, Haw Par, Hiap Hoe, Hong Leong Finance, Hotel Royal, Hotung, K1 Ventures, Lum Chang, MacCookPSF, Metro, Multi-Chem, Orchard Parade, OUE, Pan Pacific Hotels, PM Data, QAF, Singapore Land, Sabana REIT, Sing Investments, Singapore Windsor, Stamford Land, Stamford Tyres, Straco, Thai Village, United Engineers, UIS, United Overseas Australia, Wheelock Properties and Wing Tai. As usual, no sales transaction was made.

I have participated in the following rights issue - CitySpring, China Enersave and EuNetworks. I have also accepted the following delisting offers - Asia Env and C&O Pharm. I have participated in the following scrip dividend scheme - MTQ Corp.

Next month, I will continue to position my portfolio more defensively. As markets had been sold down badly, more value candidates will emerge. The key is still to overweight stocks that will perform well during market slowdown, sit tight and collecting dividends while waiting patiently for markets to recover. I will also be attending AGMs held for many companies with financial year ending June 2011.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 September 2011)

Top 30 Holdings (Sing$ Denominated shares)
1. Jardine C&C
2. F&N
3. Noble Group
4. SGX
6. UIS
7. CapitaMall Trust
8. Bukit Sembawang Estates
9. Singapura Finance
10. SembCorp Marine
11. Metro Holdings
12. Wheelock Properties
13. Hersing
14. Bonvests
15. Sing Investment & Finance
16. KepLand
17. The Hour Glass
18. APB
19. OSIM International
21. SP AusNet
22. Sarin Technologies
23. Transpac Industrial Holdings
24. First REIT
25. K-REIT Asia
26. Hong Leong Finance
27. Fragrance
28. Khong Guan Flour Milling
29. Parkway Life REIT
30. Guthrie GTS

Top 5 Holdings (US$ Denominated shares)

1. Jardine Strategic
2. Dairy Farm
3. Jardine Matheson
4. Hong Kong Land
5. Mandarin Oriental

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

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Keppel Corp
2. Streettracks STI ETF
3. CapitaMall Trust
5. Challenger Technologies

My Hong Kong Stock Portfolio
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
11. Oriential Century
12. Japan Land
13. Zhonghui

My Unit Trust Portfolio:



Blogger athulican said...

Fund Manager.

6:07 PM  
Blogger ZhuKoLiang said...

i sold maccook pee sai some months back to pay back loan..

banana reit yield damn solid, with reasonable gearing..

i got citispring but then i let the rights issue lapsed.. bcos that time market price = rights price... let the underwriter die pain pain.. now considering to buy some from open market? :P

4:35 AM  
Blogger Cory said...

Hi ghchua, i see you have 13 unlisted stocks. You also have instances mentioned of a number of delist offers and not to mention top performers.

On the whole, with all due respect,
how much of an impact do this 13 stocks impact your capital return. Do you still continue to recieve fair dividents from them ?


8:07 PM  
Blogger ghchua said...

Hi Cory,

To be very frank with you, some of these 13 companies are "sick" companies with little chance of capital recovery. Most of them had been delisted mandatory by SGX due to their failure to recover after being placed in the SGX watchlist. No, I didn't receive any dividends from these companies to date. But it doesn't mean that they are worthless though, as some companies like General Magnetics do have assets in their books and Fastech Synergy is currently profitable.

These companies do have impact in my portfolio, but I would say it is not significant enough to cause much harm to my well-diversified portfolio. The impact is probably around 0.5% or less of my total portfolio value.

4:43 AM  
Blogger Ken Tan said...

Hi ghchua,

Have been reading your blog - I wonder how do you manage to keep track of 30 stocks?

Just curious - if you do not mind sharing.

Many thanks,
Ken Tan

1:15 AM  
Blogger ghchua said...

Hi Ken,

I manage a portfolio of more than 600 stocks currently, not 30 stocks. Those 30 stocks listed are my top holdings. My portfolio is much bigger.

There is no need to keep track of every single piece of news for each and every stock in your portfolio if it is well diversified.

1:39 AM  
Blogger Guru said...

thats really a diversified range of stocks, care to share what is the rationale to keep so many?

can we do a link exchange? cheers


2:32 AM  
Blogger ghchua said...

Hi Guru,

Already added your blog into my list. :)

Well, I have a diversified portfolio because I want to reduce the risk of company failure. Diversification allows me to reduce non-systematic risk and it allows me to sleep better at night.

8:14 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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