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Wednesday, August 31, 2016

My Investment Portfolio (August 2016)

STI closed lower this month at around 2820 points. Market had been relatively quiet this month with most companies announcing results that were at or below expectations. The strong US dollar and weak crude oil prices had dampened buying interest further. Of course, we also have the concern on Zika virus and its impact on travel to S'pore.

For this month, I have attended the following AGMs/EGMs/briefings - Transcorp and Vibrant Group.

For my top 30 holdings, Best World was again the top performer this month as it continued its good run. Hotel Royal and Keppel T&T also fared well. Colex is a new entry as it continues to benefit from new cleaning contracts. Metro did not do well after it went ex-dividend, with investors possibly worried about its future prospects after realizing most of their developments in China.

I have bought the following companies from the market this month - Amara, AV Jennings, Best World, Bonvests, Boustead, Broadway, Bund Center, CapitaLand, Chuan Hup, DBS, Far East Orchard, GP Batteries, Hong Fok, Hwa Hong, iFAST, IPC Corp, Isetan, Keppel Corp, Koh Brothers, Lion AsiaPac, Lum Chang, Matex, Metal Component, Pollux, Stamford Land, Straits Trading, Teck Wah, TIH, TSH, UIC, UPP and Yeo Hiap Seng. No sell trade was done.

I have participated in the following scrip dividend schemes this month - CapitaLand Retail China Trust, Frasers Commercial Trust, Keppel REIT, MapleTree Logistics Trust and UOB.

I have accepted the following voluntary delisting/cash offer this month - Sim Lian. I have also subscribed to the following preferential offer - MapleTree Commercial Trust.

Next month will be another quiet month. It is a month for me to go slow and do some catch-up readings. Also, I will continue to research on companies and hope to continue to seek value and invest prudently.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 August 2016)

Top 30 Holdings (Sing$ Denominated shares)
1. Best World 
2. United Engineers
3. Jardine C&C
4. Sarine Technologies
5. Haw Par
6. Bonvests
7. Metro Holdings
8. Hotel Royal 
9. Hong Fok
10. Keppel T&T  
11. Hotel Grand Central
12. A-REIT
13. SGX
14. Singapura Finance
15. Bukit Sembawang Estates
16. Old Chang Kee
17. GK Goh
18. The Hour Glass
19. UOL
20. ComfortDelgro
21. Far East Orchard 
22. Hong Leong Finance
23. Hiap Hoe
24. CapitaMall Trust
25. Hotel Properties
26. Sing Investment & Finance
27. First REIT
28. CapitaLand
29. Isetan 
30. Colex

Top 5 Holdings (US$ Denominated shares)
1. Jardine Strategic
2. Hong Kong Land 
3. Mandarin Oriental  
4. Jardine Matheson
5. Dairy Farm 

Top Holdings (HK$ Denominated shares)
1. Fortune REIT
2. Shangri-La Asia

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

Top 5 Holdings (CPF OA investment)
1. Keppel Corp
2. Streettracks STI ETF
3. CapitaMall Trust
4. A-REIT
5. Challenger Technologies

My Hong Kong Stock Portfolio
1. Peace Mark Holdings - Under Voluntary Liquidation

My Australia Stock Portfolio
1. GPS Alliance Holdings Limited

My Unlisted Company Portfolio
1. Automated Touchstone Machines Ltd
2. Iconic Global Limited
3. Dongshan Group Ltd (formerly known as Greatronic Limited)
4. General Magnetics
5. Fastech Synergy
6. Beauty China- Under Liquidation
7. Memory Devices
8. Jurong Tech - In liquidation - Compulsory winding up (Insolvency)
9. FM Holdings
10. Zhonghui - In liquidation - Compulsory winding up (Insolvency)
11. FerroChina - Under Liquidation
12. FirstLink Investments
13. NEL Group
14. Jets Technics
15. Guangzhao Industrial Forest - In liquidation - Compulsory winding up (Insolvency)
16. Hongwei Technologies Limited (In Provisional Liquidation)
17. FDS Networks Group
18. Aussino Group - In liquidation - Creditors' voluntary winding up
19. China Oilfield Technology
20. China Milk Products Group - Under Liquidation
21. Pacific Healthcare

My Unit Trust Portfolio:
http://www.fundsupermart.com/main/community/Portfolio_View.svdo?id=P199

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4 Comments:

Blogger Ga Me said...

Hi ghchua, any opinions on metro? First quarter profit and revenue not desirable

1:52 PM  
Blogger ghchua said...

Hi Ga Me,

1Q2017 profits were down mainly due to absence from divestment of EC Mall as compared to last year. Metro's profit this year will not be able to match last year, as there are some divestment gain last year.

But Metro still have steady rental income from their investment properties and also property developments in China, UK and S'pore. But development profits will be slow and they are also in the process of re-investing some of their proceeds back and therefore we will not see big development profits this year.

Retail is expected to be slow too and I will be happy if they don't make losses in this segment.

Their balance sheet is still strong and though things are getting slower now at Metro, it is a period for them to look at investment opportunities and hopefully, start another new cycle of divestment gains. This will need some time.

9:35 PM  
Blogger Everlearning said...

Hi ghchua,

It just doesn't make sense for Aztech to delist at this price when it overpriced to take over Kay Lee's business year's back and just because of personal liking for roast duck meat! It is a great disappointment the way Aztech is treating its loyal shareholders by making this obnoxious offer.

The consolidation of the shares had diminished my shares and now the company wants to say bye bye to me. Anyway, this wasn't the first time and in the past I just ignored such proposals and it turned out fine for investors who were willing to stand firm to reject such offers.

I think I am just a little worked-up. Sorry...

6:57 PM  
Blogger ghchua said...

Hi Everlearning,

I do agree with you here. Aztech said that one of the reasons for delisting is thin trading liquidity and lack of interest in their shares. Come on, who did the massive 10 for 1 share consolidation? And who diversified the company into so many businesses until there are impairments, write-offs etc. The last financial year was a disaster, and they did a massive $11m impairments for vessels. They also didn't declare any dividends for last FY.

One can't blame the market for not having interest in their shares. They have to show better results and the market will soon re-rate them. One thing I noted was that even with such massive losses, they are still generating cash.

I think the reason for them is simple. Give a low ball offer and try to delist the company. After that, with some restructuring, they can be profitable again.

1:10 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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