My Investment Portfolio (October 2025)

STI ended October at 4428 points, up around 3% for the month. In US, focus earlier this month had been on partial US government shutdown and expectation of further interest rate cuts. Also, there had been concerns on the return of trade war between US and China. US Fed eventually delivered on 25bps rate cut, but may hold off on further interest rate cuts this year.

For my top 30 holdings this month, most stocks in the list tracked the market and did well. GuocoLand is a new entry to the list, replacing Global Testing. Main contributors include iFAST, Stamford Land, Jardine C&C, Haw Par and SingTel. Detractors include Hong Leong Asia, Hong Fok and Bonvests. Meanwhile, for my Top 5 Holdings (US$ Denominated shares), Jardine Matheson offered to buy out Mandarin Oriental via Scheme of Arrangement.

I have bought the following companies from the market this month - A-Sonic, ABR, Avi-Tech, Baker Tech, Bonvests, Bund Center, CFM, Credit Bureau Asia, Digilife Tech, EnGro, F&N, Far East, First Sponsor, Golden Agri, GP Industries, Heeton, Hiap Hoe, HL Global, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, IPC Corp, Jardine Matheson, Karin, Keong Hong, Khong Guan, Koh Brothers, New Toyo, OUE, Overseas Education, PNE Industries, Raffles Medical, Secura, Singapura Finance, Stamford Land, Straco, Straits Trading, Tuan Sing, Tye Soon, Venture, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

I have participated in the following scrip dividend scheme - UOA.

With only two months left before the year closes, it is certainly a good time to do some reflections. Markets seem to be pushing ahead and creating new record highs despite concerns on multiple fronts, including high valuation of AI related companies. I will continue to slow down my purchases before the year ends and be more defensive in my portfolio positioning.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 October 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Sing Investment & Finance

3. Hotel Properties

4. Singapore Land Group

5. Hong Leong Asia

6. Hong Leong Finance

7. The Hour Glass

8. Stamford Land

9. Hong Fok

10. Sembcorp Industries

11. Bonvests

12. Jardine C&C

13. Wing Tai

14. UOL

15. LHT

16. SGX

17. Far East Orchard

18. DBS

19. UOB Kay Hian

20. PM Data

21. Multi-Chem

22. Haw Par

23. Metro Holdings

24. Bukit Sembawang Estates

25. SingTel

26. GuocoLand

27. Hotel Grand Central

28. F&N

29. Samudera Shipping

30. Yeo Hiap Seng

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson

4. TZ Da Ren Tang
5. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Tan Chong International

2. Shangri-La Asia

Top 5 Holdings (CPF OA investment)
1. Streettracks STI ETF

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium

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)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources