My Investment Portfolio (December 2020)
STI ends the year at above 2800 points, down slightly more than 10% for the year. For this month, some of the issues include emergence of a new strain of Covid-19 and stalemate on new stimulus package from US Congress. However, investors are still quite positive and eager to participate in what seems to be a post pandemic recovery rally.
For my top 30 holdings, Frencken continued its good run this month after receiving upgrades in target price from various research houses. Unfortunately, two of my holdings in the list, namely iFAST and Singapura Finance participated but both failed to secure the digital bank license in Singapore. However, iFAST still ended the year as the top holding in my portfolio for Sing$ Denominated shares.
I have bought the following companies from the market this month - AF Global, Bonvests, Bukit Sembawang Estates, Dairy Farm, EnGro, First Sponsor, Frasers Property, GK Goh, Global Testing, Hiap Hoe, Hotel Properties, Hotung, IHH, IPC Corp, Isetan, Kingsmen, Koh Brothers, Mandarin Oriental, Metro, NSL, OUE, Pacific Century, PEC, Stamford Land, Tan Chong International, UIC and Yeo Hiap Seng. I have also closed my position in CSC W201229.
I have participated in the following preferential offer - CapitaLand Retail China Trust.
It had been a difficult year for most investors out there due to Covid-19, especially for those who invest only in the Singapore market. Personally, my overweight positions in value stocks had affected the performance of the portfolio. Most of them had still yet to recover fully from the crash in March early this year. Also, with no leverage employed and the portfolio being almost fully invested, it did not benefit much from the extreme volatility in the markets during the year. Having said that, I am glad that the portfolio had not suffered big losses this year due to consistent re-investment of dividends and takeover proceeds back into the market.
Top 30 Holdings (Sing$ Denominated shares)
1. iFAST
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
Top Holdings (Aust$ Denominated shares)
1. AV Jennings
Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF
2. CapitaLand Integrated Commercial Trust
4. Keppel Corp
5. Challenger
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 u p (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
27. Attilan Group
28. Winas - In Liquidation
Labels: Portfolio
posted by ghchua at 2:09 PM
10 Comments:
Hi Ghim Hock, what's your view on Oxley Holdings?
Hi Jem,
Oxley balance sheet is quite heavily geared. With Covid-19, their strategy to realize cash and reduce gearing might be slower and therefore exposes them to more risk. Also, they do not have a large portfolio of investment properties in their books to have decent recurring income during this downturn. This, plus various country specific risk in their development projects, I am not very optimistic about their performance going forward.
Hi Ghim Hock, what's your view on Lian Beng?
Hi Jem,
Lian Beng is undervalued but I don't quite like the stock so have not bought it for a long time despite looking at it in my watchlist. Recently, they have also stop paying dividends but bought Breadtalk HQ instead. In fact, they have been building up their investment portfolio for recurring rental income.
I guess we have to wait and see for their actions. If they have a stronger recurring income base, then they should be able to resume paying out consistent and regular dividends despite Covid-19 affecting their construction business.
Shifu Chua
Looking at indo plantation like Golden agriculture all came up, not sure Jar C&C still haves shares in plantation? Do you see the motor business in Jardin pick up soon?
If compare CDL, HK LAND and J C&C, which is your choice?
Thanks
Hi Sunny,
Yes. Jardine C&C do have exposure to agribusiness via Astra. I don't think their motor business will recover quickly to pre-Covid levels. Rather, it would be a slow and uneven recovery. But I don't normally buy stocks when the recovery is clear as you would be buying at a higher price.
I think it is not fair to compare Jardine C&C with HK Land and CDL as Jardine C&C is not a property developer. Among HK Land and CDL, I do have a slight preference with HK Land as they have a larger portfolio of investment properties which provides them with a recurring income base to sustain their dividend yield. HK Land also pays a higher dividend than CDL and trades at a cheaper valuation. But I think CDL is definitely a better bet if you are going for capital gain rather than dividend as it bounces back pretty quickly if there is a good recovery in its business, especially in their hotel business.
Hi!
I am holding several orphan shares in Winas. What should one do with unlisted shares? What is the rationale of holding illiquid shares and how does one exit it? Thank you!
- Davis
Hi Davis,
Winas is currently undergoing liquidation. So, the company will be liquidated after they distribute all the remaining proceeds back to shareholders. Do be patient to wait for further updates from the liquidators.
This comment has been removed by the author.
Hi Unknown,
Nope. I have accepted the delisting exit offer.
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