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Friday, May 31, 2019

My Investment Portfolio (May 2019)

STI ended May at around 3117 points, erasing almost all the gains built up since the start of the year. Bad news were all over the place. Escalation of trade tension between US and China, Brexit issues, Huawei issues, poor economic data etc were some of the news that surfaced this month. STI index stocks were mostly sold down, with banks being the main laggard. Technology stocks were also being sold down. The statement - Sell in May and go away, seems to be applicable again this year.

For this month, I have attended the following AGMs/EGMs/briefing - Delfi, UOB International Growth Fund and Low Keng Huat.

For my top 30 holdings, Best World had been removed from the list after the stock had been suspended, pending outcome of its special audit. Keppel T&T is also out of the list after it had been acquired by the offeror via Scheme of Arrangement. New entries include The Hour Glass and SBS Transit. PM Data had been a major positive mover after they have announced a decent set of full year results. UOL, however, had been a major laggard following a sell down on STI index stocks this month.

I have bought the following companies from the market this month - AF Global, Bonvests, Bund Center, Far East Orchard, GK Goh, Hong Fok, Hong Leong Finance, Hotel Grand Central, LHT, Lion AsiaPac, Mandarin Oriental, Pollux, Singapura Finance, Sing Investment & Finance, Stamford Land, UIC, Yeo Hiap Seng and Yongmao. I have also closed my position in Sitra.

I have accepted the following voluntary delisting/cash offers this month - Fabchem China, Kingboard Copper Foil and Sevak (partial offer). My shares in Keppel T&T and PCI had also been acquired via Scheme of Arrangement.

I have participated in the following preferential offer/rights issue this month - First Sponsor (Series 2 Convertible Securities with Warrants) and Frasers Centrepoint Trust. I have also participated in the following scrip dividend schemes - AA Reit,  China Everbright, Far East Hospitality Trust, Frasers Commercial Trust, Global Investments, Jardine Matheson, Jardine Strategic, Mapletree Industrial Trust, Mapletree Logistics Trust, OCBC, Oxley, Raffles Medical, Tai Sin, Tuan Sing, UOA and UOB Kay Hian.

Unfortunately, there had been a cash drag in my portfolio this month as dividends collected had not been able to reinvest back into markets as quickly as I would have liked to. With increased jitters in markets, I will continue to position my portfolio more defensively. I will also spread my investments more slowly in order to apply time diversification as well.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 May 2019

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

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

Top Holdings (HK$ Denominated shares)
1. Tan Chong International
2. Shangri-La Asia
3. Fortune REIT

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF
2. CapitaLand Mall Trust
3. Keppel Corp
4. A-REIT
5. SBS Transit

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. Iconic Global Limited
2. Dongshan Group Ltd (formerly known as Greatronic Limited)
3. General Magnetics
4. Fastech Synergy
5. Beauty China - Under Liquidation
6. Memory Devices
7. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
8. FM Holdings
9. Zhonghui - In liquidation - Compulsory winding up (Insolvency)
10. FerroChina - Under Liquidation
11. FirstLink Investments
12. NEL Group
13. Jets Technics
14. Guangzhao Industrial Forest - In liquidation - Compulsory winding up (Insolvency)
15. Hongwei Technologies Limited (In Provisional Liquidation)
16. FDS Networks Group
17. Aussino Group - In Liquidation - Creditors' voluntary winding up
18. China Oilfield Technology
19. China Milk Products Group - Under Liquidation
20. Pacific Healthcare
21. Eratat Lifestyle - In Liquidation
22. Fung Choi Media - In Liquidation
23. K1 Ventures - In Liquidation
24. DMX Technologies - In Liquidation
25. Europtronic Group

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

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4 Comments:

Blogger Sunny said...

Shifu Chua

Is UOB Growth Fund a global fund or something else? Is it managed by UOB who has a good record? Is it a good time to go in or better go in in phases from long term view? Can use CPF? Which platform is offering better deal for fund, UOB, FSM or DollarDex?

If we look at property stock listed in SG, many are under book value, are you holding or adding it for hoping these stocks could be privertised one day as usually their dividend is so so?

Thanks

5:21 PM  
Blogger Chong said...

Hi ghchua,

I would like to hear your views on FSL trust under the new trust manager since their non-renounceable preferencial rights issue was just over.

7:27 PM  
Blogger ghchua said...

Hi Sunny,

UOB International Growth Fund is a global equity fund. It is not included for CPF Investment currently as it is now in a process of merging into another global fund, United Global Quality Growth Fund. I think for a global fund, it is ok to consistently invest into it via DCA since they are well diversified. For platform wise, I think online platforms like FSM and Dollardex are low cost so should be ok to invest through them.

I think one should not only look at dividend yield when investing in property stocks. Various other factors like pre-sales numbers, discount to NTA, % of recurring income etc should also be in the equation. Privatization is a bonus when it comes. Otherwise, I think their asset backing offers a safety during bad times (especially for those with more investment properties rather than development assets) and therefore downside should be limited.

8:26 PM  
Blogger ghchua said...

Hi Chong,

The new trust manager wishes to use the money from preferential offer to buy new ships to renew their fleet, since the current ones are getting older and might not be able to secure good rates going forward. However, I feel that they are a bit speculative since the new builds do not have contracts in place, and they have to look for charters themselves.

8:29 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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