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Saturday, June 30, 2018

My Investment Portfolio (June 2018)

STI ended the first half of the year on further weakness, retreating to 3268 points. Sino-US trade war concerns had been the main reason for this market selloff, although other issues like interest rate hike and US$ strength had been on the mind of investors as well. Overall, it had been a risk-off mode for investors this month.

For this month, I have attended the following AGMs/EGMs/briefing - Envictus, Thakral, Cheung Woh, Ascendes India Trust, A-REIT and Ascendes Hospitality Trust.

For my top 30 holdings, this wide spread selloff had affected some of them, but the damage had more or less been contained. The finance companies in this list had been quite stable, while some stocks like United Engineers, Haw Par, Metro, Bonvests, Hiap Hoe, Stamford Land, ComfortDelgro, A-REIT and Old Chang Kee had remained steady. Hotel Royal also retreated further after it went XR. I have taken this opportunity to add onto some of the holdings in the list during the month.

I have bought the following companies from the market this month - Bund Center, CapitaLand, Chuan Hup, F&N, Far East Orchard, Hong Fok, Hotel Properties, Isetan, Keppel T&T, Koh Brothers, Low Keng Huat, Lum Chang, Metro, OUE, Pacific Century, Sembcorp Industries, Sing Investment & Finance, Singapore Shipping, SingTel, Stamford Land, Straits Trading, Tiong Woon, UIC, UOB Kay Hian, Wheelock, Yeo Hiap Seng and YHI. I have also closed my positions in Asian Micro, AusNet Services, Creative, Huan Hsin, Ramba Energy and Wilton Resources.

I have participated in the following scrip dividend schemes - China Everbright, Hotel Grand Central, QAF, Raffles Medical, Tuan Sing, UOA, UOB and UOB Kay Hian.

As companies with financial year ending 31 March 2018 will be holding their AGMs next month, I will be attending some of those to get some updates. Markets are expected to continue to be weak going forward so I will be looking out for more opportunities to add onto my holdings selectively. Priority will be on capital preservation to prevent a huge drawdown on my portfolio if things gets worse.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 29 June 2018)

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

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
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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6 Comments:

Blogger Chong said...

Hi ghchua,

I was unable to make it for Cheung Woh's AGM. Would you mind provide some updates how the management is going to tackle the challenges of their HDD business? Thanks.

Chong

5:16 AM  
Blogger ghchua said...

Hi Chong,

Basically, the capex for helium baseplate HDD project with Seagate had been capped at $25 million and they have indicated that 80% of the issues had been fixed and do not forsee further big impairements. They admitted their mistake in the project for not having a higher budget when negotiating the price with Seagate. They indicated if they went into another project for helium baseplate HDD, they would have priced in a higher gross profit margin so that they have more room for mistakes. So, the mistake apparently is because of pricing because they did not anticipate all those design issues and reworks.

As for dependence on HDD, they have admitted that they have been too comfortable with HDD in the past and is now looking at diversifying their business into other sectors. Those are still in the preliminary stage and they said that they will make the necessary announcements once things are firmed up. I think some other sectors they are exploring might include aerospace though they did not want to reveal more details at this moment.

7:14 AM  
Blogger edragon said...

Hi GH,

I have not decided on the Vard shares. Please advise your idea for my reference.
Thanks.

Ed.

11:33 PM  
Blogger ghchua said...

Hi edragon,

I also haven't made my decision yet. Have to read through the IFA report before making any decision. Let's see how it goes.

5:38 AM  
Blogger Everlearning said...

Hi ghchua,

It seems that you are trimming down quite a number of your positions in your equity holdings. I have not done any pruning but have fizzled out and many of my holdings have either dwindled in quantity or suspended perpetually. I have also quite a number of my holdings that have been doing well and giving out consistent dividends year after year.


To me, the last ten years in SGX stock market had taught me precious lessons. If I had not parked my savings there I would not have gained the intricate insights of this kind of investment. Many times the banks, insurance companies or financial institutions would not clarify or verify a lost investment for the clients. Many investors just have to accept that the funds are closed and losses must be borne by them. I would rather choose to take full responsibility should my investment fail rather than to be told that the outcome of your investment was due to unforeseen circumstances and no one wants this to happen.

Money lost or money gained does not cause my sanity. Life goes on for me just the same.
Of course, with the prices of everything going up, careful planning is a must. No debts and stay away from borrowings. Don't be misled into vanity.

8:08 PM  
Blogger ghchua said...

Hi Everlearning,

Thanks for your wise words. Yes, we should take charge of our own investments. Whether we make money or not is another matter, but as we go along, we should learn from our mistakes and try not to make them again. I believe that as time goes by, we should be a better investor. There is no better way to learn than being in the market and getting your hands dirty.

Trimming down some of my underperforming positions had been on my radar for quite sometime. Going forward, I will be still be holding a diversified portfolio but more focused than last time. I only sell those stocks that could give me back some proceeds after brokerage costs. For those who cannot even pay my brokerage, I will keep them for now and see how it goes.

Oh yes, I don't borrow to invest. I don't invest on margin. Leverage is a double edged sword. I rather go slow than being tempted with high potential return by investing using borrowed money.

11:30 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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