My Investment Portfolio (October 2024)

STI ended October at around 3558 points, down a bit as compared to last month. Early in the month, investors were concerned with escalating tensions in the Middle East, though some positive announcements on stimulus measures came out of China. Profit taking then set in after more details on China stimulus measures were absent. Volatility also increased towards the end of the month due to the looming US elections.

I have attended the following physical AGMs/EGMs/briefing this month - GRP, Lion AsiaPac and Teho International.

For my top 30 holdings this month, there is not much major changes except for CapitaLand Integrated Commercial Trust, which returned to the list after allocation of preferential offer units. CapitaLand Ascendas REIT dropped out after it performed in line with most other REITs as investors lowered down their rate cut expectations, resulting in selloff in the sector. Top 5 holdings for US$ denominated holdings did better, as Hongkong Land announced plans to unlock value.

I have bought the following companies from the market this month - Alliance HC, AsiaMedic, Baker Tech, Bonvests, Bund Center, Captii, CosmoSteel, Digilife Tech, First Sponsor, Frasers Property, Global Testing, GuocoLand, Hiap Hoe, Hong Leong Finance, Hotel Grand Central, Hotung, IFS Capital, Indofood Agri, Innotek, Jardine Matheson, Koh Brothers, KSH, Mandarin Oriental, Metro, MindChamps, Nam Lee, OUE, OUE Healthcare, Overseas Education, SBS Transit, Shangri-La Asia, Shopper360, Sin Heng, Sing Holdings, Singapore Land Group, Singapore Shipping, Singapura Finance, Stamford Land, Straits Trading, Thakral, Tuan Sing, UOA, Wing Tai and YHI. I have also closed my position in Jadason.

I have accepted the following voluntary delisting/cash offer this month - Silverlake Axis.

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

Next month, the US election result will be in focus. With markets exhibiting higher volatility, I will continue to be more defensive in my portfolio positioning. Efforts will continue to be made to identify more value stocks to invest.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 October 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Fok

4. Hong Leong Finance

5. PM Data

6. Bonvests

7. Sing Investment & Finance

8. Hotel Properties

9. LHT

10. The Hour Glass

11. Sembcorp Industries

12. Jardine C&C

13. Wing Tai

14. Stamford Land

15. Far East Orchard

16. Hotel Grand Central

17. Multi-Chem

18. Yeo Hiap Seng

19. Bukit Sembawang Estates

20. Metro Holdings

21. DBS

22. Samudera Shipping

23. F&N

24. Singapore Land Group

25. Great Eastern (Suspended)

26. Tat Seng

27. Hiap Hoe

28. Singapura Finance

29. CapitaLand Integrated Commercial Trust

30. SGX

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. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. PM Data

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

My Investment Portfolio (September 2024)

STI ended 3rd quarter of the year at around 3585 points, up around 4% as compared to last month. STI reached a 17 year high level this month as optimism came back into the markets on key export numbers and efforts to revive the local market. Also, investors cheered US Fed jumbo rate cut and China stimulus measures to revive the economy.

For my top 30 holdings this month, Isetan was out of the list after the stock had been acquired via Scheme of Arrangement. Metro Holdings returned to the list as investors accumulated China related stocks. Other main contributors include Hong Fok, Sembcorp Industries, Wing Tai, F&N, DBS and Bukit Sembawang Estates. Detractors include PM Data and Multi-Chem.

I have bought the following companies from the market this month - ABR, AP Oil, BBR, Bonvests, Brook Crompton, Bund Center, Chemical Industries, Chuan Hup, City Developments, Credit Bureau Asia, Delfi, EnGro, Far East Orchard, Hiap Hoe, Ho Bee Land, Hong Leong Finance, Hor Kew, Hotel Grand Central, Hotung, Indofood Agri, IPC Corp, Jardine Matheson, Kencana Agri, Kingsmen, KSH, Lion AsiaPac, Lum Chang, Nam Lee, New Toyo, OUE Healthcare, PNE Industries, SBS Transit, Shangri-La Asia, Singapore Land Group, Singapore Shipping, Singapura Finance, Tuan Sing, Tye Soon and Yeo Hiap Seng. I have also reduced my stake in Beng Kuang (warrants), First Sponsor (warrants) and Jadason.

My stakes in Isetan and Best World had also been acquired via Scheme of Arrangement and selective capital reduction respectively.

I have participated in the following preferential offer/rights issue - CapitaLand Integrated Commercial Trust.

I have also participated in the following scrip dividend schemes - Global Investments and Jardine Matheson.

Next month, companies with financial year ending 30 June 2024 will be holding their AGMs. As markets had advanced quite a bit this month, I will continue to invest but at a more slower pace. As usual, I will be more conservative in terms of portfolio positioning and will also be holding more cash.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 September 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Fok

4. Hong Leong Finance

5. PM Data

6. Bonvests

7. Sing Investment & Finance

8. Sembcorp Industries

9. Hotel Properties

10. The Hour Glass

11. LHT

12. Jardine C&C

13. Wing Tai

14. Hotel Grand Central

15. Stamford Land

16. Far East Orchard

17. Bukit Sembawang Estates

18. Samudera Shipping

19. Multi-Chem

20. Yeo Hiap Seng

21. F&N

22. Metro Holdings

23. DBS

24. CapitaLand Ascendas REIT

25. Great Eastern (Suspended)

26. Singapore Land Group

27. Tat Seng

28. SingTel

29. Singapura Finance

30. SGX

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. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. PM Data

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

My Unit Trust Asset Allocation

Dear all,

After nearly one year, I guess it is time for another summary on my unit trust asset allocation. You can refer to my previous one at the link below:

https://ghchua.blogspot.com/2023/09/my-unit-trust-asset-allocation.html

For asset classes, I have done nothing much other than consistently adding onto the list of unit trusts that I had been holding for CPF Investments. I have again been defensive for the past one year or so, and therefore increased my allocation to short duration bond fund again. The other asset classes are obviously down correspondingly in terms of percentage of allocation, with my additional allocation to the short duration bond fund.

For geographic exposure, Global, Singapore and US funds were the out performers in the portfolio. India, Malaysia and Taiwan funds also did well.

Laggards continued to be funds with exposure to China. Though I don't specifically hold any China funds, Asia Pacific Excluding Japan, Emerging Markets and Asia excluding Japan regional funds do have decent exposure to that market, which dragged down their performance. Other laggards include funds invested in Indonesia and Thailand. 

Going forward, my strategy is to add onto existing funds, while continue to maintain a defensive positioning in terms of asset allocation. I will continue to allocate more to fixed income instead of equity, with emphasis on shorter duration to mitigate interest rate fluctuations.

Asset Class

Equity 81.2%

Balanced 12.87%

Short Duration Bond 4.95%

Fixed Income 0.98%

Geographic

Global 20.27%

Asia Pacific Excluding Japan 16.32%

Emerging Markets 12.66%

Japan 11.43%

US 8.71%

Singapore 7.68%

Asia excluding Japan 5.68%

Taiwan 3.32%

Europe including UK 3.23%

Indonesia 2.73%

India 2.58%

Thailand 2.39%

Malaysia 1.71%

Korea 1.29%

Welcome any comments (if any) on my unit trust asset allocation.

My Investment Portfolio (August 2024)

STI ended August at around 3442 points, down less than 0.5% as compared to last month. Markets corrected during early part of the month due to a combination of factors - fear of US economic recession, Japan's rate hike, unwinding of the carry-trade and tech stocks earnings disappointments. Volatility had also increased significantly during the early part of the month. However, markets seemed to have calmed down after that and recovered most of its lost ground with lower volatility as the month progresses. Expectations of Fed interest rate cut had increased significantly.

I have attended the following physical AGMs/EGMs/briefing this month - Isetan and Delfi.

For my top 30 holdings this month, Isetan was suspended from trading, pending the scheme being effective. Main contributors include the two big cap REITs in the list, due to market's expectation of impending rate cuts. iFAST was a main laggard but it retained its top position. Tat Seng and F&N returned to the list, replacing underperformers Metro Holdings and Singapura Finance. 

I have bought the following companies from the market this month - ABR, AP Oil, Chemical Industries, Chuan Hup, Delfi, EnGro, Far East Orchard, First Sponsor, Global Testing, Goodland, GuocoLand, Hiap Hoe, HL Global, Ho Bee Land, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotel Properties, Hotung, IFS Capital, Intraco, Low Keng Huat, Mandarin Oriental, Metro, OUE, SBS Transit, Secura, Singapore Land Group, Stamford Land, Straits Trading, Tai Sin, Tuan Sing, Tye Soon, Wing Tai, Yanlord, Yeo Hiap Seng and YHI. No sale trade was done.

I have also participated in the following scrip dividend schemes - Mapletree Logistics Trust, Mapletree Industrial Trust, Starhill Global REIT and Boustead Singapore.

Next month will be a quiet month as the financial result reporting season for companies had ended. As usual, I will be focusing on my portfolio and looking at ways to seek more value in the market. With expected volatility ahead, I will continue to position my portfolio more defensively.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 August 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Isetan (Suspended)

3. Amara Holdings

4. PM Data

5. Hong Leong Finance

6. Hong Fok

7. Bonvests

8. Sing Investment & Finance

9. LHT

10. Hotel Properties

11. The Hour Glass

12. Sembcorp Industries

13. Jardine C&C

14. Hotel Grand Central

15. Stamford Land

16. Wing Tai

17. Far East Orchard

18. Multi-Chem

19. Samudera Shipping

20. CapitaLand Ascendas REIT

21. Tat Seng

22. Great Eastern (Suspended)

23. Yeo Hiap Seng

24. Bukit Sembawang Estates

25. F&N

26. CapitaLand Integrated Commercial Trust

27. Singapore Land Group

28. DBS

29. SingTel

30. Hiap Hoe

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 Holdings (Aust$ Denominated shares)
1. AV Jennings

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
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)

21. Equatoriale Holdings  

22. China Haida

23. Chaswood Resources

My Investment Portfolio (July 2024)

STI ended July at 3455 points, up more than 3.5% as compared to last month. Led by the 3 banks and fund inflows, STI had one of the better performing month this year, though the markets had cooled down towards the end of the month due to tech stocks selloff. Focus by the markets this month had been on the upcoming US Presidential election, inflation data, timing of monetary policy easing and geopolitical conflicts. Volatility had also increased for the month, though it had tapered off a bit towards the end of the month.

I have attended the following physical AGMs/EGMs/briefing this month - Mapletree Logistics Trust, Best World and Metro Holdings.

For my top 30 holdings this month, Great Eastern was suspended from trading when its free float dropped below 10% after the unconditional offer from OCBC closed. Main contributors include iFAST, PM Data and Multi-Chem. Samudera Shipping was a main laggard after announcing their 1H24 result that disappointed the market. Frencken and Global Testing also underperformed and they dropped out of the list as investors sold down tech related stocks. SingTel returned to the list after a long absence, as they plan to pay higher dividends. The two REITs are back into the list, as investors became more positive on impending interest rate cuts.

I have bought the following companies from the market this month - Bonvests, Brook Crompton, Bund Center, Captii, Chemical Industries, Chuan Hup, City Developments, F&N, First Sponsor, GRP, GuocoLand, Hiap Hoe, HL Global, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Asia, Hong Leong Finance, Hotel Grand Central, Hotung, Huationg Global, Indofood Agri, Intraco, IPC Corp, Jardine C&C, Karin, Koda, KSH, Lion AsiaPac, Lum Chang, Mandarin Oriental, Metro, MYP, Nam Lee, Overseas Education, Pan Hong, SBS Transit, Secura, Shangri-La Asia, Sin Heng, Sinarmas Land, Singapore Land Group, Singapore Shipping, Singapura Finance, Stamford Land, Straits Trading, Tan Chong International, TIH, Tuan Sing, Tye Soon, Wing Tai and Yeo Hiap Seng. I have also closed my position in Camsing Healthcare.

I have accepted the following voluntary delisting/cash offer this month - Second Chance Properties.

Next month will be another financial reporting season, as companies having financial year ending 31 December 2024 will continue reporting their half year results. As usual, I will be going through some of those results. I will also continue to re-invest dividends received back into the markets, while remaining prudent in deploying them.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 July 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Isetan

3. Amara Holdings

4. PM Data

5. Hong Fok

6. Hong Leong Finance

7. Bonvests

8. Sing Investment & Finance

9. LHT

10. The Hour Glass

11. Hotel Properties

12. Sembcorp Industries

13. Stamford Land

14. Jardine C&C

15. Hotel Grand Central

16. Wing Tai

17. Multi-Chem

18. Far East Orchard

19. Samudera Shipping

20. Metro Holdings

21. Great Eastern (Suspended)

22. Yeo Hiap Seng

23. Bukit Sembawang Estates

24. Hiap Hoe

25. DBS

26. Singapore Land Group

27. CapitaLand Ascendas REIT

28. Singapura Finance

29. CapitaLand Integrated Commercial Trust

30. SingTel

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. Shangri-La Asia

2. Tan Chong International

Top Holdings (Aust$ Denominated shares)
1. AV Jennings

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
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)

21. Koon Holdings  - In liquidation - Creditors' voluntary winding up

22. Equatoriale Holdings  

23. China Haida

24. Chaswood Resources

My Investment Portfolio (June 2024)

STI ended mid-year at 3332 points, almost flat as compared to last month. Year to date, STI was up around 3%, but if one added back the dividends received, the YTD return numbers should come at around 6%. It had been another quiet month for the markets, with focus on AI related stocks and interest rate outlook. Volatility had also reduced as compared to last month.

For my top 30 holdings this month, main contributors include iFAST, PM Data, Samudera Shipping, Multi-Chem and Frencken. Main laggards include Hotel Grand Central, Wing Tai and Yeo Hiap Seng. Meanwhile, OUE and Tat Seng returned to the list. The two REITs both dropped out of the list, reflecting the sector's underperformance against the general market.

I have bought the following companies from the market this month - AF Global, AP Oil, Bonvests, Bund Center, Chuan Hup, City Developments, CosmoSteel, Credit Bureau Asia, EnGro, F&N, Frasers Property, Hiap Hoe, HL Global, Ho Bee Land, Hong Leong Asia, Hotel Grand Central, Hotung, IFS Capital, Intraco, IPC Corp, Jardine C&C, Jardine Matheson, Kingsmen, Koh Brothers, KSH, Low Keng Huat, Nam Lee, PEC, SBS Transit, Shangri-La Asia, Sinarmas Land, Singapore Land Group, Singapura Finance, Straits Trading, Tuan Sing, UOL, Wing Tai, XMH, Yeo Hiap Seng and YHI. No sale trade was done.

Next month will be another AGM season, with companies having financial year ending 31 March 2024 holding their AGMs. It will also be another low dividend paying month. As usual, I will continue to re-invest those dividends back into the market at a slower pace, in anticipation of the various headwinds ahead.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 June 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Isetan

3. Amara Holdings

4. LHT

5. Hong Fok

6. PM Data

7. Bonvests

8. Hong Leong Finance

9. Samudera Shipping

10. Sing Investment & Finance

11. Hotel Properties

12. The Hour Glass

13. Sembcorp Industries

14. Jardine C&C

15. Stamford Land

16. Wing Tai

17. Hotel Grand Central

18. Far East Orchard

19. Multi-Chem

20. Frencken

21. Metro Holdings

22. Great Eastern

23. Bukit Sembawang Estates

24. Yeo Hiap Seng

25. Hiap Hoe

26. Singapore Land Group

27. DBS

28. Global Testing

29. Tat Seng

30. OUE

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 Holdings (Aust$ Denominated shares)
1. AV Jennings

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
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)

21. Koon Holdings  - In liquidation - Creditors' voluntary winding up

22. Equatoriale Holdings  

23. China Haida

24. Chaswood Resources

My Investment Portfolio (May 2024)

STI ended May 2024 at 3336 points, up more than 1% as compared to last month. A lot of stocks had went ex-dividend this month on SGX, which explained their lackluster performance. Volatility had came down in the markets too. There were also some portfolio rebalancing of stocks by funds due to MSCI Singapore Index review changes towards the end of the month.

For my top 30 holdings this month, Great Eastern was a new entry to the list after the company received a voluntary unconditional general offer from OCBC. Samudera Shipping continued its good run from last month after news that global freight rate has gradually increased. Other main contributors include Bukit Sembawang Estates and Multi-Chem. Global Testing meanwhile returned to the list. Sembcorp Industries though was the main laggard.

I have bought the following companies from the market this month - AF Global, Bonvests, Brook Crompton, Bund Center, City Developments, CosmoSteel, F&N, Frasers Property, HL Global, Ho Bee Land, Hong Leong Asia, Hotel Grand Central, IFS Capital, IPC Corp, Jardine Matheson, Khong Guan, Koda, Koh Brothers, KSH, Metro, Pan Hong, Shangri-La Asia, Singapura Finance, SingTel, Stamford Tyres, Taka Jewellery, TIH, Tye Soon, UOL and Yeo Hiap Seng. No sale trade was done.

I have participated in the following preferential offer/rights issue - The Trendlines Group.

I have also participated in the following scrip dividend schemes - Yeo Hiap Seng, Mapletree Logistics Trust, UOB Kay Hian, Tuan Sing, Straits Trading and Global Investments.

Next month will be another quiet month. As usual, with the dividends received from this month, I will be investing prudently back into the markets. With many headwinds ahead despite lower volatility in the markets, my focus will still be on seeking value while limiting growth.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 May 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Isetan

3. Amara Holdings

4. LHT

5. Hong Fok

6. Hong Leong Finance

7. Bonvests

8. Sing Investment & Finance

9. The Hour Glass

10. Hotel Properties

11. PM Data

12. Sembcorp Industries

13. Samudera Shipping

14. Stamford Land

15. Wing Tai

16. Hotel Grand Central

17. Jardine C&C

18. Far East Orchard

19. Yeo Hiap Seng

20. Hiap Hoe

21. Bukit Sembawang Estates

22. Great Eastern

23. Metro Holdings

24. Multi-Chem

25. DBS

26. Singapore Land Group

27. Singapura Finance

28. Frencken

29. CapitaLand Ascendas REIT

30. Global Testing

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 Holdings (Aust$ Denominated shares)
1. AV Jennings

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
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)

21. Koon Holdings  - In liquidation - Creditors' voluntary winding up

22. Equatoriale Holdings  

23. China Haida

24. Chaswood Resources