My Investment Portfolio (July 2023)
STI ended July at around 3373 points, up more than 5% as compared to last month closing, led by the banks towards the end of the month. However, the usual concerns on interest rate, US Fed actions and China economy had been driving market movements and volatility.
I have attended the following physical AGMs/EGMs/briefing this month - SingPost, Valuetronics, AIMS APAC Reit and Stamford Land.
For my top 30 holdings this month, iFAST continued its good run after announcing its 1H23 results. PM Data was also among the gainers after the company announced proposed redevelopment of existing freehold investment property. Among the laggards, Hotel Properties was in the news after its MD was under investigation by CPIB. Sembcorp Industries also weakened after terminating its plans to sell SembWaste and its energy-from-waste plant. Not much changes was observed for the other stocks in the list.
I have bought the following companies from the market this month - Bund Center, Chemical Industries, Chuan Hup, City Developments, Credit Bureau Asia, EnGro, Far East Orchard, Frasers Property, Haw Par, HL Global, Ho Bee Land, Hong Leong Asia, Hong Leong Finance, Hongkong Land, IHH, Indofood Agri, Jardine Matheson, Karin, Khong Guan, Koh Brothers, Mandarin Oriental, Metro, Noel Gifts, NSL, OUE, Overseas Education, Pan Hong, SBS Transit, Shopper360, Silverlake Axis, Sing Holdings, Sing Investment & Finance, Singapore Land Group, Straits Trading, Tan Chong International, TC Auto, Trek 2000, Trendlines, Wing Tai, Yanlord and Yeo Hiap Seng. No sale trade was done.
I have accepted the following voluntary delisting/cash offer this month - Lian Beng.
I have also participated in the following preferential offer/rights issue - CapitaLand India Trust.
Next month, companies with financial year ending 31 December 2023 will continue to announce their half-year results. As usual, I will be going through some of those results. With markets starting to get a bit more volatile again after settling down in June, I will continue to remain defensive. I have been investing at a slightly slower pace lately, and will continue to do so. Efforts will be made to identify more value stocks and buy under performing companies rather than going for those which had already been baked in by the markets with good news.
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 July 2023)
Top 30 Holdings (Sing$ Denominated shares)2. Hongkong Land
3. Jardine Matheson
5. DFI Retail Group
Top Holdings (HK$ Denominated shares)
Top Holdings (Aust$ Denominated shares)
1. AV Jennings
1. Streettracks STI ETF
3. CapitaLand Integrated Commercial Trust
5. Best World
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. Fung Choi Media - In Liquidation
21. DMX Technologies - In Liquidation
22. Europtronic Group- In Liquidation
23. China Sun Bio-chem Technology
24. Attilan Group
25. Transcorp
Labels: Portfolio
posted by ghchua at 6:38 PM
8 Comments:
Hi Mr. Chua, would appreciate your view on Isetan, which I find the company destroying its value year after year despite deriving rental income from its decaying Wisma properties. Thank you.
Hi Jamesbond007,
I think I have discussed about Isetan quite a bit in the comments section of this blog.
With respect to the lease decay at Wisma property, I think shareholders have articulated their concerns during past AGMs. The fact is that they said they are trying to sell the property but no takers. So, the next best thing they can do is to drive up the occupancy rate of the property, which they have managed to do so.
The plan is still to sell the property, if there are takers.
Hi Mr Chua,
May I know your opinion about IsoTeam's latest Rights issuance.
Is it worthwhile to buy the Rights?
The Rights if anyone take up (bought) - will automatically be converted to shares later, is it?
thanks much, Elizabeth
Hi Elizabeth,
I don't have a view on ISOTeam as I don't own the stock and have not look into the company. Therefore, I cannot provide any comment on the merits/demerits of taking up the rights issue.
However, I can answer your general question on rights issue. Yes, when you took up your nil paid rights entitlements by subscribing for the rights issue, it will be converted to shares after the rights issue closes. But for excess rights application (i.e. You applied more than what you are entitled to), it will be subjected to availability and not all will be filled.
Thanks very much, Mr Chua.
Hi Mr Chua,
What is your view on Haw Par now? Do you think the price is a steal? Thank you!
Faith
Hi faith,
I have resumed buying Haw Par in July this year, after pausing for quite sometime. I think it is still trading at a decent discount from its NAV and their recent half year results showed that its healthcare business is growing quite well. They have decent amount of cash in hand, with interest rate on the high side, they are benefiting from higher interest income from investing their spare cash in T bills.
They have also increase their interim dividend from 15c to 20c per share. All in all, I remain positive on the stock.
Hi Mr Chua,
Many thanks for sharing!
Faith
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