My Investment Portfolio (April 2021)
STI ended this month at around 3218 points, extending the good run from last month. Raising Covid-19 cases around the world had certainly been an issue, but investors had been encouraged by recovering corporate earnings.
For my top 30 holdings, the major movers in the list are EnGro and SGX. EnGro had done well this month after a substantial shareholder had been accumulating it on the market. SGX had a broker initiating its coverage on it. iFAST and Sing Investment & Finance also reported decent set of 1Q21 results. Most of the other stocks in the list are trading within a tight range, probably due to lack of news flow from the market.
I have bought the following companies from the market this month - AF Global, Amara, AP Oil, Asia Enterprises, Bonvests, Captii, Chuan Hup, Global Testing, Great Eastern, GRP, Heeton, Hiap Hoe, Hong Leong Finance, IFS Capital, Kingsmen, LHT, Metro, Overseas Education, Singapura Finance, TTJ, Wing Tai, Yeo Hiap Seng and Yoma. No sale trade was done.
My shares in Sunningdale and Jardine Strategic had also been acquired via Scheme of Arrangement and amalgamation respectively.
I have also participated in the following scrip dividend schemes - DBS and Jardine Matheson.
It had been a decent month for markets but risk seems to be higher now as some stocks are now trading near pre-Covid levels. I will continue to be prudent when deploying cash into the markets, taking into consideration valuation risk.
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 April 2021)
Top 30 Holdings (Sing$ Denominated shares)1. iFAST
1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson
4. 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. Memory Devices
6. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
7. FM Holdings
8. Zhonghui - In liquidation - Compulsory winding up (Insolvency)
9. FerroChina - Under Liquidation
10. FirstLink Investments
11. NEL Group
12. Jets Technics
13. Guangzhao Industrial Forest - In liquidation - Compulsory winding up (Insolvency)
14. Hongwei Technologies Limited (In Provisional Liquidation)
15. FDS Networks Group
16. Aussino Group - In Liquidation - Creditors' voluntary winding up
17. China Oilfield Technology
18. China Milk Products Group - Under Liquidation
19. Pacific Healthcare
20. Eratat Lifestyle - In Liquidation
21. Fung Choi Media - In Liquidation
22. K1 Ventures - In Liquidation
23. DMX Technologies - In Liquidation
24. Europtronic Group
25. China Sun Bio-chem Technology
26. Attilan Group
27. Winas - In Liquidation
Labels: Portfolio
posted by ghchua at 9:35 PM
16 Comments:
Hi Ghim Hock, what are your views on Sinarmas Land?
Also, I assume you hold stocks for the long-term (e.g. 10 years), correct? In any case, what will cause you to sell a stock? When it's P/B value indicates it is overvalued or?
Hi Jem,
Sinarmas Land do have a decent land bank and various township projects in Indonesia. In fact, if you look at the total market cap of all its listed subsidiaries in Indonesia, it is higher than its listed holding company on SGX. That is how undervalued they are.
Any decision to sell a stock in my portfolio is based on consideration of various factors, and not only on the stock or P/B value alone. For example, a stock might be overvalued but if it did not hit my individual stock limit, I might still hold onto it. By adding onto other undervalued stocks in my portfolio, I would be able to dilute the stock allocation in my portfolio and manage its risk. So, it is not always necessary that I need to sell the stock.
All in, there are various factors that I will decide whether to get rid of a stock in my portfolio. There is no hard and fast rules.
Shifu Chua
I got this warrant,2ndChance W230307 (ZFSW), not sure how to convert?
thanks
Hi Sunny,
You cannot convert those warrants now as they are European style ones.
Shifu Chua
Can you kindly explain what I can do with these warrants?
Thanks
This comment has been removed by the author.
Hi Sunny,
For 2ndChance W230307, since it is European style warrants, you can only convert to shares near expiry in 2023. You cannot convert those warrants now. So, if you really want to get rid of those warrants, you can always sell it on the market anytime from now to expiry. Otherwise, you can hold them until 2023 and see whether you want to convert or not.
For Ascendas REIT, yes, you are correct. For private placement, existing shareholders will be diluted as they could not participate in it.
Hi Ghim Hock,
May I ask what is your rationale for buying Overseas Education? Thank you!
Hi Jem,
I guess the main reason is that it is trading below NAV. NAV is backed by a new campus in Pasir Ris and they have a decent operating cash flow generating business. It also consistently pays dividends and they have a dividend policy in place.
Recent price weakness might be due to concerns that a longer Covid-19 pandamic might affect their student enrolment numbers going forward, due to lesser foreigners coming into Singapore.
Shift Chua
MIT will be offoring 117.6 million new units at an issue price range of between S$2.57 and S$2.64.
But if I buy now, can I subscribe the new shares?
Thanks
Hi Sunny,
Oh yes. If you buy MIT now, you will be entitled to the advanced distribution and the preferential offer. The last date you have to buy in order to be entitled to the preferential offer is 27 May 2021.
Hi GH, may I know yr view on Nam lee ?
Hi bamboo,
Nam Lee is a decent stock. In fact, I have added some shares into my position in May.
As you might have read, their refrigeration frame business is doing well. They are supplying to Carrier Transicold, which have seen decent demand as can be seen from their recent 1H21 results. However, recent raising Covid-19 cases in Malaysia might have affected them due to another round of MCO.
The stock is decently priced at around 0.5x book value. They do have a decent dividend paying track record throughout the years.
Tks for quick reply. I have the same view as you. Did you managed to attend any of their AGM before to have a sense of the mgt ?
Hi bamboo,
Yes. I did attended their AGM a few years back. Conservative management, run mostly by family members. However, the younger generations had taken over since last year. Due to Covid, I haven't been able to attend physical AGMs and therefore not able to talk to the younger generation of management. Having said that, those old guards are still around as advisors to guide them so I think its ok.
tks for your view, GH :)
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