My Investment Portfolio (September 2017)
STI ended the 3rd quarter of the year at around 3219 points, again down from last month. Usual concerns like interest rate hike in US and Korean Peninsular issues had dominated the markets. It looks like markets is now under a correction mode going into the last quarter of the year.
For this month, I have attended the following AGMs/EGMs/briefings - Moya Asia, MapleTree Logistics Trust and SGX.
For my top 30 holdings, Best World returned to the list again as investors bought back the stock after a selldown last month. Venture is a main mover in an otherwise much unchanged list. Sarine Technologies dropped out of the list after being sold down due to concerns on IP issues. Mandarin Oriental had been volatile this month due to news flow on its intended sale of an asset.
I have bought the following companies from the market this month - AF Global, Allied Tech, ComfortDelgro, Delfi, EnGro, GL, Heeton, Hong Leong Finance, Hotel Grand Central, Hotel Properties, Keppel T&T, Singapore Reinsurance, Singapura Finance and TIH. I have also reduced my position in CapitaLand Commercial Trust in order to extract cash to participate in its rights issue next month.
I have accepted the following voluntary delisting/cash offer this month - CWT. I have also participated in the following rights issue this month - Cache Logistics Trust.
I have participated in the following scrip dividend schemes this month - Vibrant Group and UOA.
Next month will be another AGM season whereby companies with financial year ending 30 June 2017 will be holding their AGMs. As usual, I will try to attend some of these meetings in order to get some updates on some of these companies.
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 29 September 2017)
Top 30 Holdings (Sing$ Denominated shares)
1. United Engineers
2. Metro Holdings
3. Haw Par
4. Bonvests
5. UOL
6. Jardine C&C
7. Hong Fok
8. Bukit Sembawang Estates
9. Singapura Finance
10. Hotel Grand Central
11. Tat Seng
12. Sing Investment & Finance
13. Hong Leong Finance
14. GK Goh
15. Far East Orchard
16. A-REIT
17. Hotel Royal
18. Hiap Hoe
19. Keppel T&T
20. Spindex
21. Venture
22. Hotel Properties
23. Stamford Land
24. Best World
25. Old Chang Kee
26. Isetan
27. SGX
28. PNE Industries
29. CapitaLand
30. ComfortDelgro
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. Shangri-La Asia
2. Tan Chong International
3. Fortune REIT
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. Dongshan Group Ltd (formerly known as 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. Zhonghui - In liquidation - Compulsory winding up (Insolvency)
11. FerroChina - Under Liquidation
12. FirstLink Investments
13. NEL Group
14. Jets Technics
15. Guangzhao Industrial Forest - In liquidation - Compulsory winding up (Insolvency)
16. Hongwei Technologies Limited (In Provisional Liquidation)
17. FDS Networks Group
18. Aussino Group - In Liquidation - Creditors' voluntary winding up
19. China Oilfield Technology
20. China Milk Products Group - Under Liquidation
21. Pacific Healthcare
22. Eratat Lifestyle - In Liquidation
23. Fung Choi Media - In Liquidation
My Unit Trust Portfolio:
http://www.fundsupermart.com/main/community/Portfolio_View.svdo?id=P199
For this month, I have attended the following AGMs/EGMs/briefings - Moya Asia, MapleTree Logistics Trust and SGX.
For my top 30 holdings, Best World returned to the list again as investors bought back the stock after a selldown last month. Venture is a main mover in an otherwise much unchanged list. Sarine Technologies dropped out of the list after being sold down due to concerns on IP issues. Mandarin Oriental had been volatile this month due to news flow on its intended sale of an asset.
I have bought the following companies from the market this month - AF Global, Allied Tech, ComfortDelgro, Delfi, EnGro, GL, Heeton, Hong Leong Finance, Hotel Grand Central, Hotel Properties, Keppel T&T, Singapore Reinsurance, Singapura Finance and TIH. I have also reduced my position in CapitaLand Commercial Trust in order to extract cash to participate in its rights issue next month.
I have accepted the following voluntary delisting/cash offer this month - CWT. I have also participated in the following rights issue this month - Cache Logistics Trust.
I have participated in the following scrip dividend schemes this month - Vibrant Group and UOA.
Next month will be another AGM season whereby companies with financial year ending 30 June 2017 will be holding their AGMs. As usual, I will try to attend some of these meetings in order to get some updates on some of these companies.
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 29 September 2017)
Top 30 Holdings (Sing$ Denominated shares)
1. United Engineers
2. Metro Holdings
3. Haw Par
4. Bonvests
5. UOL
6. Jardine C&C
7. Hong Fok
8. Bukit Sembawang Estates
9. Singapura Finance
10. Hotel Grand Central
11. Tat Seng
12. Sing Investment & Finance
13. Hong Leong Finance
14. GK Goh
15. Far East Orchard
16. A-REIT
17. Hotel Royal
18. Hiap Hoe
19. Keppel T&T
20. Spindex
21. Venture
22. Hotel Properties
23. Stamford Land
24. Best World
25. Old Chang Kee
26. Isetan
27. SGX
28. PNE Industries
29. CapitaLand
30. ComfortDelgro
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. Shangri-La Asia
2. Tan Chong International
3. Fortune REIT
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. Dongshan Group Ltd (formerly known as 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. Zhonghui - In liquidation - Compulsory winding up (Insolvency)
11. FerroChina - Under Liquidation
12. FirstLink Investments
13. NEL Group
14. Jets Technics
15. Guangzhao Industrial Forest - In liquidation - Compulsory winding up (Insolvency)
16. Hongwei Technologies Limited (In Provisional Liquidation)
17. FDS Networks Group
18. Aussino Group - In Liquidation - Creditors' voluntary winding up
19. China Oilfield Technology
20. China Milk Products Group - Under Liquidation
21. Pacific Healthcare
22. Eratat Lifestyle - In Liquidation
23. Fung Choi Media - In Liquidation
My Unit Trust Portfolio:
http://www.fundsupermart.com/main/community/Portfolio_View.svdo?id=P199
Labels: Portfolio
posted by ghchua at 6:25 PM
10 Comments:
Hi,
May I ask why you reduce your position in capitaland commercial trust to subscribe the rights?
Thanks.
Hi quek keng joo,
I wish to apply for some excess rights shares at the discounted rights price but also do not wish to increase my position in CapitaLand Commercial Trust significantly. Hence, I have taken a decision to reduce my current holdings. I do not know whether CapitaLand Commercial Trust exposure in my portfolio will be higher or lower after the rights issue as that depends on how much excess rights shares I would be allocated.
where do you see comfort delgro bouncing back to and why?
Hi paranoid steak,
Unfortunately, I do not have a price target for ComfortDelgro. I just have a view that the selling is a bit overdone. Short term wise, revenue and profits from their public transport businesses (i.e. bus, MRT and LRT) will be able to sustain the company as their taxi business continues to be challenging. Cash flow is still ok and dividend yield should be sustainable. That itself should provide a floor where the stock can fall to, though I cannot predict short term share price movements.
As for upside, good news from their potential tie-up with Uber might provide it, though details have not been out yet. I will also not rule out future corporate action in ComfortDelgro, which might involve buying/selling their current portfolio of businesses.
Shifu Chua
Do you have Ho Bee? How much would you let go if offer comes?
Thanks
Hi ghchua, do you own shares in SPH? Any comments on this counter?
Hi Sunny,
For Ho Bee, since they have mostly investment properties in their balance sheet, NTA should be a good gauge of the value of the company. Which means, anything around $4.40 should be a good offer, though realistically, there might be some discount you have to put into the NTA.
Hi PG,
For SPH, it is currently experiencing disruption in their media business, though property continues to do ok. Also, they are trying out new businesses like nursing home. I think much will depend on their execution going forward and whether they can stop the profit drop in their media business. I will not be too eager to add onto my position in SPH at this moment.
Shifu Chua
Liang Beng, Koh Bro, Wee Hur, which is a better choice?
tks
Hi Sunny,
My choice would be Koh Brothers. They are stronger in infrastructure projects and got good assets in their balance sheet like Oxford Hotel, Sun Plaza etc.
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