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Sunday, May 31, 2015

My Investment Portfolio (May 2015)

STI ended the month at below 3400 points to close at around 3392 points. Worries about the China market after such a huge run-up in recent few months had played a part in STI weakness. This plus the Greek debt issue and US pending interest rate hike also contributed to the fall in the Singapore market.

For this month, I have attended the following AGMs/EGMs/briefings - Sunright, SIIC Environment, Low Keng Huat, Jacks International and Design Studio.

For my top 30 holdings, Koyo International is a new name in the list. This small cap M&E player had done well on a back of few contract wins. EnGro Corp also re-entered the list after settlement of majority shareholder estate issues. There had not been much change for the other holdings in the list.

I have bought the following companies from the market this month - Broadway, GK Goh, Hiap Seng, Hong Leong Asia, Hwa Hong, IP Softcom, Kencana Agri, Keppel T&T, Mun Siong, Samudera Shipping, ST Engineering, Teck Wah and Yeo Hiap Seng. There is no sales trade done.

I have also participated in the following scrip dividend schemes - AIMS AMP Capital Industrial REIT, Aspial, Cambridge, DBS, First REIT, Frasers Commercial Trust, GK Goh, Jardine Matheson, Jardine Strategic, MapleTree Logistics Trust, MapleTree Industrial Trust, OCBC, QAF, Raffles Medical, Rickmers, Tee Land (via dividend in specie), Tuan Sing, UIC, UOB Kay Hian and UOL.

As usual, there is some cash drag as I could not re-invest all the dividends received this month. Therefore, I will seek to re-invest those remaining dividends next month back into the market. I will also do some catch-up reading on some periodicals and annual reports which I have missed out last time round.
 
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 29 May 2015)

Top 30 Holdings (Sing$ Denominated shares)
1. United Engineers
2. Metro Holdings
3. Sarine Technologies
4. Bonvests 
5. Singapura Finance
6. Haw Par
7. Hotel Grand Central
8. Jardine C&C
9. Hong Fok 
10. SGX
11. Bukit Sembawang Estates
12. Old Chang Kee
13. The Hour Glass
14. Hotel Properties
15. Hotel Royal 
16. Hong Leong Finance
17. GK Goh  
18. ComfortDelgro
19. A-REIT
20. Hiap Hoe
21. Isetan
22. Koyo International
23. Sing Investment & Finance
24. Straits Trading  
25. CapitaMall Trust
26. First REIT
27. Keppel T&T
28. EnGro Corp
29. Far East Orchard
30. VICOM

Top 5 Holdings (US$ Denominated shares)
1. Jardine Strategic
2. Hong Kong Land
3. Mandarin Oriental 
4. Dairy Farm
5. Jardine Matheson

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
4. A-REIT
5. Challenger Technologies

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Automated Touchstone Machines Ltd
2. Iconic Global Limited
3. Greatronic Limited
4. General Magnetics
5. Fastech Synergy
6. Beauty China- Under Liquidation
7. Memory Devices
8. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
9. FM Holdings
10. Japan Land - In liquidation - Members' voluntary winding up
11. Zhonghui - In liquidation - Compulsory winding up (Insolvency)
12. FerroChina - Under Liquidation
13. FirstLink Investments
14. NEL Group
15. KXD Digital Entertainment - In liquidation - Compulsory winding up (Insolvency)
16. Jets Technics
17. UIS - In liquidation - Members' voluntary winding up
18. Guangzhao Industrial Forest - In liquidation - Compulsory winding up (Insolvency)
19. Hongwei Technologies Limited (In Provisional Liquidation)
20. FDS Networks Group
21. Aussino Group
22. Sunray Holdings

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

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8 Comments:

Blogger JC said...

Hi,
Great website.

Would like some advice from you. For your shares on unlisted company, does the company ever contact us to update you on the progress of the company? Do you ever get back a single cent from those company? How do you follow up on this company?

I have some shares in Advance SCT Ltd. The share price has already dropped to 0.001 and it has been making losses plus the auditors are having issues with its operations in China. Is there any key indicator to look out for which shows that this is a dead salted fish which will never flip? Thus far the creditors seems to still be giving it credit limits, it seems to be planning for a consolidation of 200 to 1 to meet the sgx regulation.

Thanks
Have a great day.

Regards,
Jessica

1:18 AM  
Blogger ghchua said...

Hi Jessica,

For unlisted companies that are incorporated in S'pore, normally I will receive an annual report from them every year and there are AGMs being held too for you to attend and ask the board for updates. For unlisted companies that are incorporated outside S'pore, I had bad experiences from most of them so far. Most don't bother to send me even an annual report and I don't know the status of most of them. However, there are some good ones who do update you with annual reports and AGMs.

As for getting back anything from these unlisted companies, it really depends on the quality of the shares that you are holding. If you are holding onto unlisted companies like Goodwood Park Hotel, Singapore Land, WBL Corp or even Keppel Land etc, you will still receive dividends from them every year. Majority shareholder might even want to buy your shares and you can sell it to them even when it is unlisted. However, if you hold onto lousy companies like most of them in my list, then nobody will be interested to buy your shares and they possibly don't pay dividends as well. Since they are unlisted, you end up being stuck as shareholder of these companies for very long time.

Advance SCT is a stock to avoid. Although creditors might be giving them credit limit, I don't think they will be able to pay them. Most possibly, they will have to issue shares to settle the debt. This company had been issuing too much shares out there (last count, the company has around 15 Billion shares and still have outstanding convertible notes!). Even if it makes a profit of a few million dollars, it is insignificant in terms of EPS (earnings per share), considering the fact that they have so many shares out there. The reason why the share price is depressed might be because those creditors of the company will sell the shares upon receiving them, making it almost impossible for it to go above 0.1cts. The consolidation will make it go above 20cts but it doesn't serve any purpose if they continue to issue more shares. Sooner or later, the shares will go down below 20cts again.

4:35 AM  
Blogger Sunny said...

Dear MR GOH

I got some lots of Pacific Healthcare. However it is going.to delist.next mounth. What is opinion, to keep it or let go? The share price is so depressed, I would loss every cent if I sale it now although the amount.is not very big.

tks in advance

2:00 AM  
Blogger ghchua said...

Hi Sunny,

I also have some small lots of Pacific Healthcare. Basically, this company should be profitable but had been let down by various management and major shareholder changes for the last few years as well as high turnover of doctors. I am very disappointed with the new group of shareholders too as they didn't take quick action to sell off loss making businesses to strengthen the company's working capital and balance sheet to return the company back to profitability.

I think it is not worth selling the stock now. The market price is very depressed and with small lots, you might not even cover the brokerage fees.

I still do not know whether the company will provide shareholders with an exit offer with their pending delisting. I certainly hope that they will do so to put an end to our misery. Otherwise, we will have to hold onto a delisted company if we do not sell our shares or the company do not wish/not able to provide an exit offer.

7:08 PM  
Blogger Everlearning said...

Hi ghchua,

Investment in the stock market does carry risks. Oftentimes, when the retail investor realizes his/her mistake in investing with that particular company, the loss is inescapable. I am speaking from my own experience with certain counters even they are not delisted: they are pretty well irreparable.

This ever-consolidation of share counters is an eye-opener to me and has made me realized that I should re-learn investing again and anew.

Hopefully, our gains outweigh the losses we made or else staying invested in the market might not be a good option for us.

2:01 AM  
Blogger sgfinancebooks said...

This comment has been removed by the author.

10:21 PM  
Blogger Low Paul said...

Hmm..wat was ur rationale in buying pac healthcare then?
Its was a small cap. Doesnt pay a dime. It still is...and gotten worse even.

9:08 PM  
Blogger ghchua said...

Hi Paul,

It was paying dividends when I bought into the stock years ago. At that time, it was doing ok. However, a few changes in majority shareholders and also doctors leaving the company makes it worse. Even in current state, I believe it can still turn around given time by selling off loss making assets and restructure the whole group.

However, SGX watchlist is very strict about the requirement and therefore time is not on their side.

11:03 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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