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Thursday, May 31, 2018

My Investment Portfolio (May 2018)

STI ended May 2018 at 3428 points, down quite bit from last month. The statement, "Sell in May and go away" seems to be quite accurate in this case. There were bad news all over the place this month, with issues ranging from Italy's political crisis, interest rate hike, trade wars, Malaysia elections etc. Also, lack of company specific news flow and with many companies going ex-dividend had contributed to the downward pressure on the markets. Taking all the above into consideration, I will continue to position my portfolio more defensively going forward.

For this month, I have attended the following AGMs/EGMs/briefing - Delfi, FSL Trust, Techcomp, MapleTree Logistics Trust and Low Keng Huat.

For my top 30 holdings, not much major changes except for some minor movements. ComfortDelgro was one of the major positive mover after Uber exited the Singapore market. Other positive movers include Keppel T&T, PM Data and Old Chang Kee. The latter two announced decent full year results this month. Main laggards include Best World, SGX and Hotel Royal. Hotel Royal selldown was due mainly to their proposed rights issue while SGX was due to the dispute that they are having on their Indian derivative products.

I have bought the following companies from the market this month - AF Global, Asia Enterprises, Boustead, Bund Center, F&N, GL, Hotel Properties, IHH, Isetan, Jardine Strategic, Koh Brothers, Stamford Land, UIC, UOB Kay Hian and Yeo Hiap Seng.  I have reduced my position in FJ Benjamin (warrants) and closed my position in Viking Offshore. I have also accepted the following voluntary delisting/cash offer this month - Tat Hong.

I have participated in the following scrip dividend schemes - Jardine Matheson, Jardine Strategic and Keppel Reit. I have also participated in the following preferential offer/rights issue this month - Frasers Logistics & Industrial Trust.

Next month is expected to be a quiet one for the markets as World Cup 2018 kicks off in Russia with school holidays still going on. Trading is expected to be lackluster. I will continue to re-invest those dividends received in May slowly back into the markets to reduce my portfolio cash drag.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 May 2018)

Top 30 Holdings (Sing$ Denominated shares)
1. United Engineers
2. Haw Par
3. Jardine C&C
4. Hotel Grand Central
5. Metro Holdings
6. Tat Seng
7. UOL
8. Bonvests
9. Hong Leong Finance
10. Singapura Finance
11. Keppel T&T
12. Bukit Sembawang Estates
13. Hong Fok
14. GK Goh
15. Sing Investment & Finance
16. Venture
17. Hiap Hoe
18. Far East Orchard
19. Hotel Properties
20. ComfortDelgro
21. Stamford Land
22. LTC Corp
23. PM Data
24. Hotel Royal
25. A-REIT
26. DBS
27. Best World
28. Old Chang Kee
29. Isetan
30. SGX

Top 5 Holdings (US$ Denominated shares)
1. Jardine Strategic
2. Mandarin Oriental
3. Hongkong 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
2. Z-Obee Holdings Ltd

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
24. K1 Ventures - In Liquidation
25. Jaya Holdings - In Liquidation
26. DMX Technologies - In Liquidation

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

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10 Comments:

Blogger Rocky said...

Dear GH Chua,

What is your view on TIH (T55)? Should i hold this stock or sell it since the price keep dropping and no dividend declare this year.


And how about your view on Cosco Singapore F83?

Thank you.

Rocky

8:01 PM  
Blogger ghchua said...

Hi Rocky,

I guess TIH, together with OUE, LippoMalls Trust and other Lippo related companies listed on SGX, had been affected by the recent credit downgrade of Lippo Group by rating agencies. As TIH also hold a decent stake in OUE, it also affected their valuation and therefore might also affect their NAV. Short term wise, I think TIH will still be under pressure but I think I will be holding onto it as their investments are still ok and should bear fruit in the long term.

As for Cosco Singapore, they have just diversified into logistics business and therefore it is still early days yet. Have to monitor and see how it goes.

5:51 AM  
Blogger Sanye ◎ 三页 said...

Hi ghchua,

Have you accepted the cash offer from Lee Metal?

3:44 AM  
Blogger ghchua said...

Hi Sanye,

I have already sold all my stake in Lee Metal in April 2018. Please refer to my blog posting below:
http://ghchua.blogspot.com/2018/04

9:43 PM  
Blogger Mukti Agrawal said...

You already have a good portfolio in your inventory. I think that they are the best stocks for investment in Singapore stocks signals for this year.

4:02 AM  
Blogger Chanel said...

Hi ghchua, I thought you have Ausnet Services shares? Ausnet is delisting from SGX, moving shareholders over to ASX-listing. Or Ausnet can help us bulk-sell our shares on ASX (we don't need to pay brokerage fees). Share price now dropped, maybe due to bulk-sale now. But if hold to ASX-listing, what are the inconveniences (eg. dividends come by AUD-cheque via post? any problem to get taxed on these dividends?). Where to find out these issues? Many thanks!

11:04 PM  
Blogger ghchua said...

Hi Chanel,

I have already accepted the bulk-sale this month for Ausnet Services.

Yes. If you don't do anything, you will automatically be transferred to the Australian registrar. Besides the dividend issue (which they would send cheque to you), I think you will have to settle those scrip dividend and rights issues too. Yes, dividend will be taxed at source at 15% for Australian dividends.

You can visit their website for more details:

https://www.ausnetservices.com.au/Misc-Pages/Links/Investor-Centre/Shares-and-investors/Taxation
https://www.ausnetservices.com.au/Misc-Pages/Links/Investor-Centre/Shares-and-investors/Dividends

Alternatively, you can transfer your shares to a Singapore based broker that deals with ASX to handle all the above for you, but of course you have to pay them some charges like dividend handling, custodian fees, rights applications etc.

Considering the above, I think it is a hassle especially if you do not have a lot of shares in Ausnet Services.

6:50 AM  
Blogger Chanel said...

Hi ghchua, I have 42,000 Ausnet shares, which I guess is not large enough to justify all the additional costs of holding with ASX. I will quickly mail the bulk-sale form, to reach CDP before the Monday date-line. Thank you so much for always replying quickly with useful comments & information! Greatly appreciate your kindness!

7:20 AM  
Blogger ghchua said...

Hi Chanel,

Actually, if you just transfer it to the Australian registrar, there is not so much cost involved since they are not a broker and I think there is no cost holding those shares there. But then, you have to handle stuff like dividend cheque, rights issues and scrip dividend yourself. You can don't transfer those shares to a broker if you choose not to do so. But if you need to sell those shares in Australian registrar, then of course you need to engage a broker that deals with ASX listed shares.

Hope that the above clarifies.

9:38 PM  
Blogger Chanel said...

Hi ghchua, for a brokerage to handle dividend, sale, etc., I just checked with iOCBC, & also read a bit about Interactive Brokers. Usual brokerages need me to pay some fees (transfer, custodian, dividend handling), only IB doesn't charge some of these fees, but its monthly fee can be waived only if I buy more overseas shares to add up to $100,000 value (my Ausnet value not enough). Like you rightly mentioned, Australia itself already has 15% tax on dividend, and probably 30% (or 15% after 1year) tax on capital gains when selling. So holding at ASX means these extra costs & efforts. So I've just mailed the bulk-sale form out. Thank you so much!

10:01 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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