Tuesday, June 30, 2015

My Investment Portfolio (June 2015)

STI ended the month at around 3317 points.The Greek debt crisis fears plus China market movements had continued to worry investors as market volatility increases. It had been a difficult month for long term investors as STI swing from positive to negative and back to positive again everyday.

For this month, I have attended the following AGMs/EGMs/briefings - Blue Sky Power, Communication Design International, Frasers Commercial Trust, Ezra, Transit-Mixed Concrete, Cheung Woh, Chemical Industries and Ascendas India Trust.

For my top 30 holdings, the main movers include The Hour Glass and GK Goh. The Hour Glass is mainly because of their decent final year results and also higher dividend declared this year. For GK Goh, it is because the scrip dividend had been credited this month.

I have bought the following companies from the market this month - Broadway, CapitaLand, Far East Orchard, GLP, Keppel T&T, Parkson Retail, Samudera Shipping, Teck Wah, UOL and Yeo Hiap Seng. I have also reduced my stake in AusNet Services.

I have also participated in the following rights issue - Keppel Infrastructure Trust.

I have participated in the following scrip dividend schemes - AusNet Services, Hotel Grand Central, Maxi-Cash (via dividend in specie) and United Overseas Australia.

Next month, there will be AGMs held for companies with financial year ending March 2015. I will be attending some of these AGMs to get some updates from the companies in my holdings. I will also reserve some cash holdings for some upcoming rights issues.
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 June 2015)

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

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



Blogger Ho Anna said...

Is Hour Glass good for long term investment?

10:54 PM  
Blogger ghchua said...

Hi Anna,

I think so. Despite challenges like Swiss Franc de-peg and reduce in spending from Mainland China consumers, the company has done well to increase its revenue and profits while sustaining its profit margin at a reasonable level. They have invested well in their retail store network, managed their inventories and brands pretty well despite these challenges.

I guess much depends on the people behind the Hour Glass brand and I am comfortable to continue holding the stock for long term due to its good track record.

2:07 AM  
Blogger crazy said...

Hi Mr Chua,

I am still a student.
I am mesmerized by your blogging.
Would like to contact you personally and ask some questions.

PM pls.


8:08 AM  
Blogger trademarksg said...

Hi GH, the run up of the hour glass is quite steady, what's your take for the reason behind this. At what price do you reckon that it passes fair valuation? Many thanks.

6:51 AM  
Blogger ghchua said...

Hi trademarksg,

I don't think I wish to comment on price movements but rather focused on the fundamentals of the business. As a business, Hour Glass had been able to grow their profit despite headwinds in the high-end retail sector. In fact, they have grown quite well in Thailand although they suffered some drop in revenue in Hong Kong last FY. The other markets are quite flat and therefore good management is needed to contain costs and also manage brands and inventories well.

I think fair valuation will depend on your investment horizon. I expect some headwinds this year and hopefully, 2016 will be better for the whole sector. I do expect some growth in their business beyond 2016 with their slow but steady expansion plan in place. It is trading at around 10x PE currently, I don't think it is an expensive valuation for a stock with a good track record.

I am happy to keep my stake in the company.

7:20 PM  
Blogger Ho Anna said...

Hi GH, do you think I should take profit if I had those share at 40 cents?


1:38 AM  
Blogger ghchua said...

Hi Anna,

I don't think you should base your investment decision on your purchase price because that is already history. If the prospects of the company is good, I will continue to hold onto my shares, regardless of what price I bought the stock.

8:02 PM  
Blogger Ho Anna said...

Thanks for your opinion GH.

6:42 PM  
Blogger Ho Anna said...

Hi GH, what do you think of Kepcorp - price drop or is dropping as I type... to 7.95. Good price to buy for long term?

7:25 PM  
Blogger ghchua said...

Hi Anna,

What I can say is that Keppel Corp is a good stock to keep for long term. Short term wise, it is affected by the downturn in the oil and gas sector which affects a lot of companies. Having said that, they should be able to maintain their dividend this year as they have disposed KMC to Keppel Infrastructure Trust.

As to when the share price of Keppel Corp can recover, it is still too early to tell. The key is to buy small bits at each correction and don't commit all your funds in one go.

9:16 PM  
Blogger koepk said...

Hi ghchua

Just curious, with 30+ stocks holdings, how do you keep track? Are you using Excel or special software / website?


12:43 AM  
Blogger ghchua said...

Hi koepk,

I hold more than 30 stocks in my portfolio. What I have disclosed in my blog here is my top 30 holdings. I hold much more stocks than 30.

I don't use any special tools to keep track of my holdings. I use normal Excel and CDP online. No complicated stuff and calculations. I prefer to keep things simple.

11:11 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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