My Investment Portfolio (May 2025)
STI ended May at 3894 points, up around 1.6% for the month. Markets were mixed as investors grappled with a fresh wave of uncertainties surrounding global trade and also reduced tariffs between US and China. However, towards the end of the month, it recovered some lost ground.
For my top 30 holdings this month, Amara Holdings is out of the list after I accepted a voluntary conditional general offer from the offeror. LHT also received an offer to purchase its assets and business. Contibutors include Hotel Properties, Stamford Land and Bukit Sembawang Estates. Laggards include Bonvests, Haw Par (due to XD) and Jardine C&C. F&N returned to the list while ST Engineering is a new entry.
I have bought the following companies from the market this month - A-Sonic, ABR, Baker Tech, Banyan Group, Brook Crompton, Bund Center, Chuan Hup, Delfi, Digilife Tech, EnGro, F&N, Far East Orchard, Frasers Property, Golden Agri, GuocoLand, Heeton, Hiap Hoe, HL Global, Ho Bee Land, Hong Fok, Hotel Royal, Hotung, Indofood Agri, Innotek, Karin, Keong Hong, Khong Guan, Koh Brothers, Metro, Nippecraft, OUE, OUE Healthcare, PNE Industries, Qian Hu, Riverstone, Sing Investment & Finance, Singapore Land Group, Singapura Finance, Stamford Land, Stamford Tyres, Straco, TIH, Tuan Sing, Tye Soon, Vibropower, Vicplas and Wing Tai. No sale trade was done.
I have accepted the following voluntary delisting/cash offers this month - Amara Holdings and Sinarmas Land.
I have also participated in the following scrip dividend schemes - CSE Global, Global Investments, Straits Trading, Tuan Sing, UOA, UOB Kay Hian and Yeo Hiap Seng.
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 30 May 2025)
Top 30 Holdings (Sing$ Denominated shares)2. Hongkong Land
3. Jardine Matheson
5. DFI Retail Group
Top Holdings (HK$ Denominated shares)
1. AV Jennings
1. Streettracks STI ETF
3. CapitaLand Integrated Commercial Trust
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)
Labels: Portfolio
posted by ghchua at 7:39 PM
8 Comments:
Hi ghchua, I see u make frequent buys monthly, just curious which brokerage do u use and do they have CDP linkage?
Hi Janeo,
Yes. I do use those brokerages with CDP linkage. As to which brokerage I use, I think it is personal and it really depends on various factors like brokerage fees, interface etc. I do use a few, like Lim&Tan, DBS Vickers, iFAST etc.
Hi Mr.chua,
Ur thoughts on the record number of sgx stocks delisting. As more n more stocks leave our markets in the future especially those value stocks, choices will become very limited. Will this push u out to look for stocks outside sgx, like hkex where the choices are abundant.
Hi mitchell,
The record number of delistings reflected the fact that SGX market on a whole is undervalued. Therefore, there is no better place than here to hunt for value stocks. I don't think the choice is limited at this moment, as there are still a few hundred stocks to choose from on SGX. As long as you have done your homework, there should be not much problem redeploying them into your existing holdings or seek replacement stocks.
The main problem is actually liquidity, which limits the amount that one could invest in any one stock. Therefore, diversification plays a part in terms of having to reduce the risk of any one stock being delisted affecting your whole portfolio, while also manage the liquidity risk.
I have no intention to look for stocks outside SGX at this moment.
Hi sir,
Seems that you have a big pool of stocks in your sg portfolio, possible to disclose how many sg counters u r holding (both core and non-core) currently?
Hi Unknown,
I don't think disclosing the number of stocks that I am holding helps. My point is that with diversification, I had eliminated some of the risks involved when investing in SGX listed stocks. Risks include liquidity risk, takeover risk etc. This allows me to manage the portfolio on an ongoing basis, without the risk of a stock affecting the overall portfolio significantly.
Hi GH Chua,
Can you share your rationale behind buying Keong Hong which has been losing money for several years? Is Hock Lian Seng a better stock to own?
Thank you
JTK
Hi JTK,
The simple answer to your question is really valuation. Keong Hong is trading at a lower price to book ratio than Hock Lian Seng. Though I also own Hock Lian Seng in my portfolio, I find Keong Hong more attractive at current levels.
The loss had narrowed for Keong Hong in the latest financial year as they have completed several unprofitable projects due to Covid-19. Going forward, I think they could be on track to be profitable soon. Also, they had been disposing assets to generate cash for working capital for their business.
All in, I think for a loss making company, it will not take much for the market to re-rate it, as long as it is trading at an attractive valuation. We have seen in many other construction companies which had been loss making for many years but they will recover when they become profitable. Examples include Ley Choon, Soilbuild Construction, Hor Kew, CSC Holdings etc
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