My Investment Portfolio (May 2023)

STI ended May at around 3158 points, down more than 100 points as compared to last month. US government debt ceiling and recession fears were the two main issues bothering the markets. China patchy recovery post Covid restrictions was another main concern. A lot of counters went ex-dividend in May, which also explains Singapore market weakness this month. There was also concern that Singapore might go into a technical recession as annual GDP growth slowed in the first quarter of this year. 

For my top 30 holdings this month, main movers include Sembcorp Industries and Delfi. Delfi had updated the market on its 1Q23 performance. PM Data also did well after releasing their full year result while The Hour Glass and Bukit Sembawang Estates disappointed. Major laggards include Samudera Shipping and Global Testing, after the stocks went ex-dividend and ex-entitlement respectively. Not much changes was observed for the other stocks in the list.

I have bought the following companies from the market this month - Amara, Asia Vets, AV Jennings, Baker Tech, Bonvests, Bund Center, Chuan Hup, City Developments, ComfortDelgro, EnGro, F&N, Far East Orchard, Frasers Property, Guocoland, Heeton, Ho Bee Land, Hong Leong Asia, Hotel Grand Central, Hotel Royal, IFS Capital, Intraco, IPC, Isetan, Karin, Koh Brothers, Mandarin Oriental, MindChamps, Nam Lee, OUE, Overseas Education, Sakae, SBS Transit, Secura, Shopper360, Silverlake Axis, Sinarmas Land, Singapore Land Group, Singapore Shipping, Straits Trading, Taka Jewellery, Tan Chong International, TIH, Trek 2000, Tye Soon, UOL, Wing Tai, Yanlord and Yeo Hiap Seng. No sale trade was done.

I have participated in the following preferential offer/rights issue - Keppel Infrastructure Trust.

I have participated in the following scrip dividend schemes - UOB Kay Hian, Global Investments, Tuan Sing, Yeo Hiap Seng and China International.

"Sell in May and Go Away" seems to be the name of the game this month. However, with some cash in hand after the GK Goh offer and dividends received this month, I have managed to re-invest some of those proceeds. Though there is still some cash drag, I will continue to seek value and try to re-invest slowly back into the market. With headwinds ahead and markets not expecting to perform well again this year, I will remain cautious and continue to hold more cash going forward.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 May 2023)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hong Fok

3. The Hour Glass 

4. Hong Leong Finance

5. Jardine C&C

6. Bonvests

7. Sing Investment & Finance

8. Hotel Properties

9. Sembcorp Industries

10. PM Data

11. Hotel Grand Central

12. Samudera Shipping

13. Metro Holdings

14. Stamford Land

15. Delfi

16. LHT

17. Far East Orchard

18. Hiap Hoe

19. Yeo Hiap Seng

20. Wing Tai

21. Global Testing

22. Amara

23. Singapura Finance

24. CapitaLand Ascendas REIT

25. CapitaLand Integrated Commercial Trust

26. Isetan

27. Bukit Sembawang Estates

28. Singapore Land Group

29. Tat Seng

30. EnGro

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 Corp
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. 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

26. Koon Holdings  - Under Liquidation

27. Equatoriale Holdings  

28. China Haida

29. Chaswood Resources

My Investment Portfolio (April 2023)

STI ended April at around 3270 points, up a bit as compared to last month. The usual concerns on interest rate, inflation, recession and bank failures continue to occupy the markets. In Singapore, we have the added concern on the latest property cooling measures to worry about towards the end of the month.

I have attended the following physical AGMs/EGMs/briefing this month - UOI, Hotung, Singapura Finance, ST Engineering, GK Goh, Riverstone, Global Investments, iFAST and Isetan.

For my top 30 holdings this month, GK Goh was out of the list as I accepted its voluntary general offer after it turns unconditional. Main movers include Jardine C&C and Global Testing. EnGro and Tat Seng meanwhile returned to the list. Not much changes was observed for the other stocks in the list.

I have bought the following companies from the market this month - Asia Enterprises, AsiaMedic, Baker Tech, Bonvests, Bukit Sembawang Estates, Chemical Industries, Chuan Hup, Far East Orchard, GP Industries, Ho Bee Land, Hong Leong Asia, Hotel Grand Central, Hotung, IHH, Isetan, Koh Brothers, Mandarin Oriental, Metro, MindChamps, MYP, OUE, Riverstone, Secura, Shopper360, Singapura Finance, Straits Trading, Taka Jewellery, Tat Seng, Trek 2000, Yanlord and Yeo Hiap Seng. No sale trade was done.

I have participated in the following scrip dividend scheme - Jardine Matheson. I have converted the following company warrants to shares - MTQ Corporation.

I have also accepted the following voluntary delisting/cash offer this month - GK Goh.

With the busy April AGM period over, I can finally sit down and look at my portfolio more closely again. With impending headwinds like recession in the horizon, I will continue to be defensive in my portfolio positioning. May is a dividend month as many companies with financial year ending 31 December 2022 will be paying out their dividends to shareholders. Hence, there will be some cash drag in my portfolio again. With a difficult market to navigate ahead, I have decided to retain some of those dividends and increase my cash holdings going forward.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 April 2023)

Top 30 Holdings (Sing$ Denominated shares)
1. iFAST

2. Hong Fok

3. The Hour Glass 

4. Samudera Shipping

5. Hong Leong Finance

6. Jardine C&C

7. Sing Investment & Finance

8. Bonvests

9. Hotel Properties

10. Hotel Grand Central

11. Stamford Land

12. LHT

13. Metro Holdings

14. Far East Orchard

15. PM Data

16. Hiap Hoe

17. Global Testing

18. Sembcorp Industries

19. Wing Tai

20. Yeo Hiap Seng

21. Delfi

22. CapitaLand Ascendas REIT

23. Singapura Finance

24. EnGro

25. Amara

26. CapitaLand Integrated Commercial Trust

27. Singapore Land Group

28. Bukit Sembawang Estates

29. Tat Seng

30. UOL

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 Corp
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. 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

27. Koon Holdings  - Under Liquidation

28. Equatoriale Holdings

29. China Haida

30. Chaswood Resources

My Investment Portfolio (March 2023)

STI ended the first quarter of the year at around 3258 points, almost flat as compared to last month. Besides interest rate hike concern, investors now have the failure of banks and its contagion effect on the global financial system to worry about.

I have attended the following physical AGMs/EGMs/briefing this month - ESR Logos REIT.

For my top 30 holdings this month, GK Goh was one of the main movers after it resumed trading and received a voluntary general offer from its controlling shareholder. Sembcorp Industries and Delfi also continued their good run from last month. The three finance companies and iFAST in the list also held up quite well, despite turmoil in the financial sector. Meanwhile, EnGro and Haw Par dropped out of the list, mainly due to relative share price under performance as compared to others in the list.

I have bought the following companies from the market this month - ABR, Amara, Broadway, Bund Center, Chuan Hup, Credit Bureau Asia, F&N, Frasers Property, Global Investments, Goodland, GuocoLand, HL Global, Hong Leong Asia, Hong Leong Finance, Hotel Grand Central, Hotel Royal, Hotung, IHH, Indofood Agri, Khong Guan, Koh Brothers, Lum Chang, Mandarin Oriental, Metro, OUE, OUE Lippo Heathcare, Sinarmas Land, Singapore Land Group, Singapura Finance, SingTel, Trendlines, Tye Soon, Wing Tai, Yanlord and Yeo Hiap Seng. No sale trade was done.

I have accepted the following voluntary delisting/cash offers this month - Boustead Projects and Global Dragon. My stake in Colex had also been acquired via Scheme of Arrangement.

I have participated in the following preferential offer/rights issue - SATS.

I had expected a quieter market this month after the full-year results reporting season in February but I was wrong. Markets became more volatile due to news of bank failures and bailouts, although it seems to taper off towards the end of the month. With that in mind, I have increased my pace of buying to take advantage of market volatility. With next month being a low dividend paying month, I will have to allocate my funds more slowly before the May dividend payouts. I will also try to attend some AGMs in April to get updates from some companies that I have invested in.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 March 2023)

Top 30 Holdings (Sing$ Denominated shares)
1. iFAST

2. GK Goh

3. Hong Fok

4. The Hour Glass 

5. Samudera Shipping

6. Hong Leong Finance

7. Sing Investment & Finance

8. Bonvests

9. Jardine C&C

10. Hotel Properties

11. LHT

12. Hotel Grand Central

13. Stamford Land

14. Metro Holdings

15. Far East Orchard

16. Hiap Hoe

17. Sembcorp Industries

18. PM Data

19. Yeo Hiap Seng

20. Wing Tai

21. Singapura Finance

22. CapitaLand Ascendas REIT

23. Delfi

24. Global Testing

25. Amara

26. CapitaLand Integrated Commercial Trust

27. Singapore Land Group

28. Isetan

29. Bukit Sembawang Estates

30. UOL

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson
4. DFI Retail Group

5. TZ Da Ren Tang

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 Corp
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. 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

27. Koon Holdings  - Under Liquidation

28. Equatoriale Holdings

29. China Haida

My Investment Portfolio (February 2023)

STI ended February weaker, with STI down around 3% this month. Again, interest rate had been a concern to the market, with investors now expecting a faster than expected pace of hike to tame inflationary pressures going forward. Interest rate is also expected to remain higher for longer.

For my top 30 holdings this month, it had been a busy month. There were quite a few companies reporting this month and it is still ongoing as some have yet to report their full-year financial results at the time of writing. Samudera Shipping, Hong Leong Finance, Sing Investment & Finance, Bonvests, Hotel Properties, Far East Orchard, LHT and Sembcorp Industries all declared higher dividend payouts. New entry Delfi also reported with a higher dividend payout and a set of result that beats market expectations. More muted results were reported by iFAST, Singapura Finance and EnGro. Global Testing meanwhile, did a lower capital reduction payout as compared to last FY. Haw Par and Singapore Land Group did deliver a decent set of results, but didn't increase their dividend payout. GK Goh meanwhile, received a takeover offer from the controlling shareholder.

I have bought the following companies from the market this month - Asia Enterprises, Chuan Hup, Credit Bureau Asia, F&N, Frasers Property, GK Goh, GuocoLand, Heeton, HL Global, Hong Leong Asia, IPC, Isetan, Koda, Koh Brothers, Low Keng Huat, Mandarin Oriental, Metro, MYP, OUE, OUE Lippo Healthcare, PEC, Shangri-La Asia, Sinarmas Land, Sing Holdings, Singtel, TC Auto, Teho, Wing Tai and Yeo Hiap Seng. No sale trade was done.

I have participated in the following scrip dividend scheme - Sabana Reit.

I have accepted the following voluntary delisting/cash offers this month -  Sabana Reit (partial offer).

As markets starting to get volatile again, I have slowed down my purchases this month. Next month, I will continue to go through the remaining full-year results of companies with financial year ending 31 December 2022 that I have missed out in February. With much to digest, I don't think I will be very active in the market next month. Also, with companies having finished reporting their results, I expect a much quieter market in March.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 February 2023)

Top 30 Holdings (Sing$ Denominated shares)
1. iFAST

2. The Hour Glass 

3. Hong Fok

4. Samudera Shipping

5. GK Goh

6. Hong Leong Finance

7. Sing Investment & Finance

8. Bonvests

9. Hotel Properties

10. Jardine C&C

11. Hotel Grand Central

12. Stamford Land

13. Far East Orchard

14. Metro Holdings

15. Global Testing

16. LHT

17. PM Data

18. Hiap Hoe

19. Yeo Hiap Seng

20. Wing Tai

21. Singapura Finance

22. CapitaLand Ascendas REIT

23. EnGro

24. Amara

25. Bukit Sembawang Estates

26. Singapore Land Group

27. Sembcorp Industries

28. Haw Par

29. CapitaLand Integrated Commercial Trust

30. Delfi

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson
4. DFI Retail Group

5. TZ Da Ren Tang

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 Corp
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. 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

27. Koon Holdings  - Under Liquidation

28. Equatoriale Holdings

29. China Haida

My Investment Portfolio (January 2023)

STI started the year with a bang, tracking global markets and advancing around 3.5% to close January at 3365 points. Investors are betting on soft landing and higher corporate profits, despite higher interest rate environment. However, some profit taking was seen towards the end of the month ahead of US FOMC meeting to decide the next interest rate hike.

For my top 30 holdings this month, Stamford Land was among the gainers after announcing completion of disposal of its hotel properties in Auckland, New Zealand and Sydney, Australia. Other main movers include Samudera Shipping, Sembcorp Industries and UOL (which returned to the list). The REITs in the list also did well. iFAST though, was the main laggard after announcing a delay in their ePension project in Hong Kong.

I have bought the following companies from the market this month - AF Global, Asia Enterprises, Captii, Chemical Industries, ComfortDelgro, Cosmosteel, Credit Bureau Asia, GK Goh, Global Investments, GuocoLand, Heeton, Hock Lian Seng, Indofood Agri, IPC, Isetan, Khong Guan, Koh Brothers, KSH, Mandarin Oriental, Metro, Noel Gifts, NSL, OUE, Overseas Education, Sing Holdings, Singtel, Trek 2000, Tye Soon, UOL, Wing Tai and Yeo Hiap Seng. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Chip Eng Seng.

Having started the year with such a good run, the risk is now higher investing in markets. Therefore, I have turned cautious and slowed down my pace of purchase. Next month, most companies with financial year ending 31 December 2022 will be reporting their full year results. As there is a long list of companies reporting, I will only be going through some of those results. I will also continue to search for value and moderate my pace of investing.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 January 2023)

Top 30 Holdings (Sing$ Denominated shares)
1. iFAST

2. Hong Fok

3. The Hour Glass 

4. Samudera Shipping

5. GK Goh

6. Hong Leong Finance

7. Sing Investment & Finance

8. Hotel Properties

9. Bonvests

10. Jardine C&C

11. Stamford Land

12. Hotel Grand Central

13. Global Testing

14. PM Data

15. Metro Holdings

16. Far East Orchard

17. Hiap Hoe

18. LHT

19. Wing Tai

20. Yeo Hiap Seng

21. Singapura Finance

22. CapitaLand Ascendas REIT

23. Bukit Sembawang Estates

24. EnGro

25. CapitaLand Integrated Commercial Trust

26. Amara

27. Sembcorp Industries

28. Singapore Land Group

29. Isetan

30. UOL

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson
4. DFI Retail Group

5. TZ Da Ren Tang

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 Corp
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. 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

27. Koon Holdings  - Under Liquidation

28. Equatoriale Holdings

29. China Haida

My Investment Portfolio (December 2022)

STI ended December and the year at 3251 points, advancing around 4% for the whole year as compared to 2021. Markets initially cheered on China's easing of Covid-19 measures early in the month. But recessionary concerns and rate hike fears limited the upside.

For my top 30 holdings this month, Hotel Properties did well after announcing disposal of commercial units at Ming Arcade via collective sale. Some of the stocks in the Top 5 Holdings (US$ Denominated shares) list like Mandarin Oriental, Hongkong Land, Jardine Matheson and DFI Retail Group also did well due to Hong Kong and China reopening. Sembcorp Industries also made it to the list after benefiting from higher energy prices this year due to inflation and its strategy to reduce carbon footprint and improve gearing. Among the laggards, Samudera Shipping was again sold off due to weaker container shipping rates. 

I have bought the following companies from the market this month - AF Global, Amara, Bonvests, Bund Center, Chuan Hup, City Developments, ComfortDelgro, Credit Bureau Asia, EnGro, F&N, Frasers Property, GK Goh, Global Dragon, Heeton, Hong Leong Asia, Hong Leong Finance, Hotel Grand Central, IPC, Koh Brothers, Lum Chang, Metro, OUE, Sinarmas Land, Sing Investment & Finance, Singapore Land Group, Singapura Finance, Stamford Land, Tuan Sing, Wing Tai and Yeo Hiap Seng. No sale trade was done.

I have participated in the following preferential offer/rights issue - CSE Global.

My stake in SP Corp had also been acquired via Scheme of Arrangement.

It had been an eventful and volatile year. Having said that, I continue to stay focused on my portfolio and mostly invested in value plays. Also, I have resisted on adding new stocks into my portfolio and there were fewer new additions this year. Still, my portfolio suffered some major drawdown during some period of the year where there had been widespread selloffs. Again, having zero leverage on the portfolio helps, as I have not been forced to sell off any stock in my portfolio to meet margin calls. I will continue to maintain zero gearing for my portfolio going forward.

Next year is expected to be another tough year for investors, as interest rate is expected to be higher for longer. However, there will always be opportunities in the markets. I will continue to seek value, while looking out for growth stocks that offer decent valuation. 

Wishing all my readers out there a profitable Year 2023. Happy New Year!

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 December 2022)

Top 30 Holdings (Sing$ Denominated shares)
1. iFAST

2. Hong Fok

3. The Hour Glass 

4. GK Goh

5. Hong Leong Finance

6. Sing Investment & Finance

7. Hotel Properties

8. Bonvests

9. Jardine C&C

10. Far East Orchard

11. Hotel Grand Central

12. Metro Holdings

13. Global Testing

14. PM Data

15. Hiap Hoe

16. Samudera Shipping

17. Stamford Land

18. Yeo Hiap Seng

19. LHT

20. Wing Tai

21. Bukit Sembawang Estates

22. Singapura Finance

23. EnGro

24. CapitaLand Ascendas REIT

25. CapitaLand Integrated Commercial Trust

26. Singapore Land Group

27. Amara

28. Sembcorp Industries

29. Haw Par

30. Isetan

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson
4. DFI Retail Group

5. TZ Da Ren Tang

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 Corp
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. 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

27. Koon Holdings  - Under Liquidation

28. Equatoriale Holdings

29. China Haida

My Investment Portfolio (November 2022)

STI ended November 2022 at 3290 points, advancing around 6% as compared to last month. Markets had turned positive this month mainly because of softer than expected US CPI numbers, which might allow Fed to slower their rate hikes. Resurgence of Covid-19 cases and demonstrations in China plus worries about a recession though, capped the market upside.

For my top 30 holdings this month, iFAST returned to the top of the list after a decent performance this month. Other main movers include Samudera Shipping and Global Testing. The two REITs in the list also did well. Haw Par, however dropped out of the list due to weaker relative performance as compared to other stocks in the list.

I have bought the following companies from the market this month - Amara, AP Oil, Bonvests, Credit Bureau Asia, Frasers Property, Global Investments, Heeton, Hongkong Land, Hotel Grand Central, Hotung, IPC, Jardine Matheson, Khong Guan, Kingsmen, Koh Brothers, LHT, Lum Chang, Mandarin Oriental, Metro, NSL, Ossia, Sakae, SBS Transit, Singapore Land Group, Singapura Finance, Stamford Land, TC Auto, TIH, Tuan Sing, Versalink, Wing Tai and Yeo Hiap Seng. I have also closed my position in Datapulse warrants.

I have participated in the following preferential offer/rights issues - Datapulse and Hotel Royal.

With markets going up this month, I have slowed down my purchases. As there is only one month left to go for the year, not much activities will be expected. Also, holiday season will be coming soon and many are closing their books early. This coupled with the ongoing soccer World Cup meant that markets are likely to be more quiet. Accordingly, I will also be slowing down my activities in the market in December, but will keep a lookout for opportunities in order to attempt to end this challenging year on a positive note.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 November 2022)

Top 30 Holdings (Sing$ Denominated shares)
1. iFAST

2. The Hour Glass 

3. Hong Fok

4. GK Goh

5. Hong Leong Finance

6. Bonvests

7. Jardine C&C

8. Sing Investment & Finance

9. Samudera Shipping

10. Hotel Properties

11. Hotel Grand Central

12. PM Data

13. Global Testing

14. Metro Holdings

15. Hiap Hoe

16. Far East Orchard

17. Stamford Land

18. Wing Tai

19. CapitaLand Ascendas REIT

20. LHT

21. Singapura Finance

22. Yeo Hiap Seng

23. CapitaLand Integrated Commercial Trust

24. Bukit Sembawang Estates

25. EnGro

26. Amara

27. Singapore Land Group

28. DBS

29. Isetan

30. Tat Seng

Top 5 Holdings (US$ Denominated shares)

1. Mandarin Oriental
2. Hongkong Land
3. Jardine Matheson
4. DFI Retail Group

5. TZ Da Ren Tang

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 Corp
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. 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

27. Koon Holdings  - Under Liquidation

28. Equatoriale Holdings

29. China Haida