My Investment Portfolio (March 2022)
It was a volatile month. But STI still manage to end the first quarter of the year at just above 3400 points. Volatile markets in Hong Kong and China due to Covid-19 lockdowns and US tech crackdown, progress of Russia-Ukraine tensions etc were the major contribution to STI movements in the early to middle part of the month. However, news of further re-opening plans in Singapore with respect to "Living with Covid-19" strategy lifted stocks towards the end.
For my top 30 holdings this month, Global Testing is a new entry in the list after announcing a decent set of results and also a big final dividend payout had been proposed. Hospitality stocks in the list also benefited from Singapore government announcement of re-opening plans. The Hour Glass also continued its good run after another research house initiated coverage on the stock. Hong Fok also did well, benefiting from its share buybacks from the market.
I have bought the following companies from the market this month - AIMS Property, Amara, AP Oil, Brook Crompton, Credit Bureau Asia, EnGro, F&N, Far East Orchard, Frasers Property, Goodland, GuocoLand, Heeton, Hong Fok, Hotel Grand Central, Lion AsiaPac, Mandarin Oriental, Metro, Nam Lee, OUE, Sing Investment & Finance, Singapore Land Group, Singapura Finance, TTJ, Wing Tai and Yeo Hiap Seng. I have also reduced my stake in OTS Holdings.
I have converted the following company warrants to shares - A-Sonic.
Next month will be a busy one for me as companies with financial year ending 31 December 2021 will be conducting their AGMs. As most AGMs are still conducted in a virtual format, I will not be attending most of them. Rather, I will spend my time going through their annual reports. With markets recovering from the selloff early in the month, I will not be making any big moves in the market. I will instead be spending most of my time identifying stocks that I could deploy with the upcoming dividend payouts in May and months ahead.
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 March 2022)
Top 30 Holdings (Sing$ Denominated shares)1. iFAST
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. DMX Technologies - In Liquidation
23. Europtronic Group
24. China Sun Bio-chem Technology
25. Attilan Group
26. Transcorp
Labels: Portfolio
posted by ghchua at 7:06 PM
6 Comments:
Hi GH, are u able to share ur thoughts on lion asiapac?
Hi Janeo,
I think my main thesis is that the company is in a net cash position, no debt and also trading way below NAV. Balance sheet is really, mostly cash with not much liabilities.
I note that most of their cash are held in PRC. Do u have any insights on the regulatory authorities approval process for repatriation?
Hi Janeo,
Around 55% of the cash is held in PRC. Although it is still a big amount, it is not as if all the cash is in PRC.
They are trying to repatriate bit by bit and not all at the same time. There are certain limitations in trying to repatriate all those cash back, since they could not declare a dividend as they have no operating business in PRC at this moment.
Hi Gh, what's is yr view on ifs capital now? I think it has a relative high safety margin with some level of upside although it has stay sideways for a long time
Hi bamboo,
Yes. It is relatively cheap now but IFS Capital business model is definitely more risky than finance companies. Their insurance business seems to have turn around, but then again, they are still a small player.
The higher safety margin is justified due to the nature of their businesses.
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