My Investment Portfolio (March 2024)
STI ended first quarter of 2024 at 3251 points, up around 2.6% as compared to last month, lifted mostly by the 3 local banks. Market had been quiet after the result reporting season here in Singapore but US Fed chair comments that it would be appropriate to cut interest rates later this year helped investor sentiment. AI hype also supported some tech stocks.
For my top 30 holdings this month, there had been not much movements observed as the result reporting period for most companies was over. Sembcorp Industries was one of the rare main movers in the list. Multi-Chem, however, dropped out of the list as there was an update on utilisation of an amount which concerned how the money was paid. DBS returned to the list after outperforming this month.
I have bought the following companies from the market this month - ABR, Asia Enterprises, Baker Tech, BBR, Bonvests, Brook Crompton, Bukit Sembawang Estates, Bund Center, Captii, Casa, Chemical Industries, F&N, First Sponsor, GuocoLand, Ho Bee Land, Hong Leong Asia, Hotel Grand Central, Hotel Royal, IFS Capital, Indofood Agri, IPC Corp, Isetan, Jardine C&C, Jardine Matheson, Kingsmen, Koh Brothers, Low Keng Huat, Lum Chang, Mandarin Oriental, Nam Lee, New Toyo, OUE, Overseas Education, Pan Hong, SBS Transit, Secura, Silverlake Axis, Sinarmas Land, Singapore Land Group, Singapura Finance, Stamford Tyres, Straits Trading, Taka Jewellery, Tan Chong International, Tuan Sing, UOL and Yeo Hiap Seng. No sale trade was done.
Next month, companies with financial year ending 31 December 2023 will be conducting their AGMs. As usual, I will try to attend some of these AGMs to get updates from my portfolio companies. With April being a traditionally low dividend paying month, I will slow down my purchases in the market in order to conserve cash for my expenses.
My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 March 2024)
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. FerroChina - Under Liquidation
9. FirstLink Investments
10. NEL Group
11. Jets Technics
12. Hongwei Technologies Limited (In Provisional Liquidation)
13. FDS Networks Group
14. China Oilfield Technology
15. China Milk Products Group - Under Liquidation
16. Pacific Healthcare
17. Fung Choi Media - In Liquidation
18. Europtronic Group - In liquidation - Compulsory winding up (Insolvency)
19. Attilan Group
20. Transcorp - In liquidation - Compulsory winding up (Insolvency)
Labels: Portfolio
posted by ghchua at 5:06 AM
19 Comments:
I am surprised Boustead is not on your list. Any reason?
Hi MSA,
Boustead is in my portfolio. It is just that it is not in my top 30 holdings.
I last added onto Boustead in November last year.
http://ghchua.blogspot.com/2023/11/my-investment-portfolio-november-2023.html
Isetan was offered 7.2, congrat!
Congrats on your Isetan.
Hi Unknown and Jamesbond007,
Thanks.
RNAV of Isetan Singapore should be easily above $9 per share. The offer still undervalues the company but it will be interesting to see minority shareholders' reaction to this scheme of arrangement.
Hi Uncle Ghim Hock,
Congrats on Isetan!
I would like to ask - why didn't you buy Credit Bureau Asia for March 2024?
Also, why didn't you buy HRNetGroup at all?
Thank you!
Hi Jem,
I have limited funds and I have to look at companies in my watchlist and see which companies that I intend to add onto them. The two companies that you have mentioned are not really value stocks, but more of an asset light business model that might have decent growth potential that comes with higher dividend payouts.
HRNetGroup is having some issues in the China market. I prefer to wait and see before I decide whether to add more onto the company. As for CBA, I think I have added some during the course of last year and prefer to stop for the time being.
Hi Mr Chua,
Please can you explain what an investor (holding Dyna-Mac's shares) should do with the Dyna-Mac's warrants? Thanks much
Hi Mr Chua,
Hock Lian Seng's share price recently suddenly shot up a lots - would you know why is it so? thanks much
Hi Elizabeth,
I am not a shareholder of Dyna-Mac, therefore I can only give you general comments on company warrants. For specific company prospects and whether you wish to convert, you should read more on the company.
For company warrants, normally you will convert to shares before expiry if the conversion price is less than the stock trading price. If you don't convert, they will expire worthless. As to whether you should convert now or later, it depends on whether the company is paying decent dividends. If they are paying good dividends, you might wish to convert early to shares so that you are entitled to future dividends. Otherwise, you should stay put and just hold the warrants.
Some people might wish to sell those warrants before expiry to lock in the time value, meaning, the warrants are trading at a premium. So, do check out SGX website on whether it is trading at a premium or discount.
Generally, if I don't like the company, I will immediately sell off those warrants.
I am not sure about Hock Lian Seng price movements. but it might be due to the good progress for sales at Shine@TuasSouth, which the company said interest had picked up.
Thanks very much, Mr Chua. Greatly appreciate your insights, comments etc..
Hi GH, how about you? Will you accept this scheme of arrangement? I have some Isetan shares as well and will likely accept.
Hi CS LIM,
It is not a matter of whether you accept or not. For scheme of arrangement, it will have to go for voting at the scheme meeting. Once it is carried at the meeting, the court will have to approve it.
Once the scheme is approved and effective, all minorities will be paid and all their shares will be acquired.
I have not decided whether to vote for or against the scheme yet. I will wait for the IFA opinion and then decide.
Thank you
Hi Mr Chua, Notice you have been buying Overseas edu, what are your insights on this company and do you think it is undervalue? Thank you and have a great day.
Hi Tan,
Overseas Education's NAV is around 33c, so it is trading below book value.
They have a campus in Pasir Ris, quite new as built few years back.
It is dividend paying, and yield at around 6+%pa at current price. They have a dividend policy of paying at least 50% of their profits, but they have been paying around 80%. Dividends had actually came down since IPO but seems to be recovering.
Student enrolment had gone up since Covid 19 pandemic days. I think with Singapore's immigration policies, there will be a steady number of International students here.
It is also a cash business with decent free cash flow, as in school fees are paid upfront. They have also progressively paying down their debt taken to finance the campus.
Most importantly, I think it is a potential privatisation candidate, with the two significant shareholders holding around 65% of the shares.
Hi Mr Chua, appreciate your insights, thank you!
Hi Ghchua,
Do you invest in Tbills?
WTK
Hi WTK,
Not really. Tbills are ok but they are really short term. But I do invest in short duration bond fund.
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