Friday, August 30, 2019

My Investment Portfolio (August 2019)

STI closed at around 3106 points this month. It was a month to forget for most investors as markets lost ground due to various headwinds like escalation of US-China trade war, continuing Hong Kong protests, Brexit etc. Markets are also highly volatile which makes investors adopting a risk-off approach, focusing instead on yield stocks, REITs, safe haven currencies (i.e. US$ and Yen), bonds and gold.

For this month, I have attended the following AGMs/EGMs/briefing - CapitaLand Retail China Trust, Delfi, OUE Hospitality Trust, Straits Trading and Del Monte.

For my top 30 holdings, only minor changes in positions was seen. SGX was one of the better performers as volatility in markets might benefit their derivatives business.

I have bought the following companies from the market this month - Bonvests, Bund Center, Delfi, Far East Orchard, GK Goh, Heeton, Hiap Hoe, Hong Leong Finance, Hongkong Land, Hotel Royal, Hotel Properties, HRnetGroup, Intraco, Jardine Matheson, Koh Brothers, LHT, Mandarin Oriental, Pacific Century, Sembcorp Industries, Sing Investment & Finance, Stamford Land, Tan Chong International, UIC and Yeo Hiap Seng.

I have accepted the following voluntary delisting/cash offers this month - China Kangda, Delong and Hupsteel. I have participated in the following preferential offer/rights issue this month - CapitaLand Retail China Trust.

I have also participated in the following scrip dividend schemes - AA Reit, Boustead, CapitaLand Retail China Trust, Frasers Commercial Trust and OCBC.

Next month will be another quiet month for me. This allows me to do some catch-up readings again on investments. I will continue to position my portfolio defensively, but with selective allocation into more risky beta stocks which had fallen to more attractive levels. However, I will continue to remain light on risky stocks, as more volatility is expected in markets going forward with US-China trade resolution still yet to be in sight.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 August 2019

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

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
5. SBS Transit

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation
2. Alpha Professional Holdings Ltd (formerly known as 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
26. China Sun Bio-chem Technology

My Unit Trust Portfolio:



Blogger Sunny said...

Shifu Chua

Do you have MNACT? Isn't it a good opportunity of softening share price providing a good opportunity for retail investor to accumulate? Seems Hong Kong Protest gets softer?


6:20 AM  
Blogger ghchua said...

Hi Sunny,

I don't have MNACT in my portfolio as it currently has only an asset in Hong Kong - i.e. Festival Walk shopping centre. I prefer more diversified exposure to Hong Kong like Fortune REIT, Shangri-La Asia, Hongkong Land, Mandarin Oriental and other Jardine related companies.

Yes, the protests in Hong Kong do have an effect on stocks with exposure to Hong Kong in the short term. But in the long term, I do not think it would have much impact. I would only accumulate stocks which I think that it is cheap enough, so short term noises are irrelevant to me.

6:42 PM  
Blogger Sunny said...

Shifu Chua

THANKS for sharing. From what I read, MNACT has assets in Hong Kong, China and Japan.

8:07 PM  
Blogger ghchua said...

Hi Sunny,

Yes. What I meant was MNACT has only one asset in Hong Kong. If you want exposure to Hong Kong, there are other companies with more than one asset in the country.

9:34 PM  
Blogger Sunny said...

Shifu Chua

I got it 👍. Fortunate reit is to exit SGX and relist in HK, any idea of the existing offer price?


7:05 AM  
Blogger ghchua said...

Hi Sunny,

For Fortune REIT, there is no exit offer since it is a secondary listing on SGX. If one decides to continue to hold onto the shares, they can trade on HKSE.

4:10 PM  
Blogger Sunny said...

Shifu Chua

I added HKL, for Fortunate, not sure I am over concern, it would follow HPH, another bed assets dumping by ...

12:13 AM  
Blogger Sunny said...

Shifu Chua

R u adding any ARAH? it's income from US$, steady currency, but I read somewhere that main China tourists disappearing worldwide

12:18 AM  
Blogger ghchua said...

Hi Sunny,

Fortune REIT had been listed on SGX for quite some time. In fact, it is one of the first REIT to be listed on SGX. Their malls are sub urban ones which caters to catchment areas. This is unlike HPH Trust which owns ports which are subjected to global trade flows. Having said that, with Fortune REIT now being delisted from SGX soon, I would consider my position in the REIT and see whether there are better alternatives on SGX.

As for ARA US Hospitality Trust, I don't think I would want to add another hospitality REIT into my portfolio, since I already hold a few currently.

4:11 AM  
Blogger Sunny said...

Shifu Chua

Once you spotted an alternative for Fortune, please share with us. Many thanks in advance 😊

5:39 AM  
Blogger ghchua said...

Hi Sunny,

There are REITs listed on SGX with similar profile as Fortune REIT which hold sub urban malls but they are located in Singapore, not in Hong Kong. Also, most of them are trading near or at premium to book value, whereas Fortune REIT is trading at around 0.6x book.

I guess if I do not wish to hold onto Fortune REIT after they have been delisted from SGX, I will have to reinvest into other stocks which are not in the same sector.

7:32 PM  
Blogger faith said...

Hi G H Chua,

Just like to hear from you, do you think buying dairy farm is advisable now?

Thank you!


1:20 AM  
Blogger ghchua said...

Hi faith,

Dairy Farm had been impacted recently by quite a few factors, mainly due to the Hong Kong protests lately and also their supermarkets and hypermarket business challenges. Though it had came down quite a bit, I am still not comfortable with their current valuation as it had been priced as a growth stock for quite sometime. However, it is a good stock to hold for long term due to their scale and efforts being made to transform their business, which I think will bear fruits in the long run.

So, yes, I like the stock and will continue to hold it for long term, though I might not add onto my current holdings in the stock due to valuation.

9:36 AM  

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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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