Friday, April 28, 2023

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



Blogger Jamesbond007 said...

Agree with your comment at Singapura Finance AGM that its 2022 results were a disappointment.

7:42 AM  
Blogger ghchua said...

Hi Jamesbond007,

I think the point I wish to put across is that FY2022 was a raising interest rate environment. If you cannot generate higher profit in this environment, then it could be much worse in a lower interest rate environment.

Their response was that cost of funding was higher and it is difficult to match deposits with loans. But ultimately, their NIM is higher and bottom line was impacted mainly by higher expenses and of course loan impairment losses, which is reflected in their still quite high NPL ratio.

Having said that, there is a price for everything. Though their performance was disappointing, it might have reflected in their share price already.

9:21 PM  
Blogger Unknown said...

Hi Mr Chua, may i have your view on Ho Bee Land. Thanks.

4:43 AM  
Blogger ghchua said...

Hi Unknown,

For Ho Bee Land, I think the main concerns are their UK property market exposure and also their high gearing. Recent announcement on higher ABSD for foreigners is also a concern.

However, there is a price for everything. I believe that their decent portfolio of investment properties should be able to tide them through this challenging period.

5:48 AM  
Blogger Unknown said...

Mr Chua, thank you for the information.

7:27 AM  

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A self-directed investor, looking to invest for retirement needs and bypass all those expensive financial planners/insurance agents. Investing is fun, profitable or most important of all, knowledge gained is useful for the rest of your life!

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