My Investment Portfolio

My Investment Portfolio (March 2026)

2026-03-31T17:24:00.006+08:00

STI ended first quarter of the year at 4885 points, down around 2.2% for the month. The conflict in Middle East had been in the spotlight this month, triggered by an attack on Iran resulting in surge in oil price. Disappointing job data in US also added to the pressure on the markets as risk of stagflation increased. Meanwhile, US Fed holds interest rate as expectation on rate cuts decreased. Volatility in the markets had increased further as the Middle East conflict had been more prolonged than initially expected.

For my top 30 holdings this month, most holdings tracked the market down as they reacted to the conflict in Middle East. Tat Seng, Hotel Grand Central and Singapura Finance returned to the list, replacing Hiap Hoe, Samudera Shipping and Frencken. Main contributors include UOB Kay Hian, Hong Fok, SGX, Sembcorp Industries and ST Engineering. Detractors include Hotel Properties, UOL, Stamford Land, Bukit Sembawang Estates, Far East Orchard and GuocoLand.

I have bought the following companies from the market this month - ABR, Anchun, AP Oil, AvePoint, Baker Tech, Bonvests, Brook Crompton, Bund Center, Captii, Chemical Industries, ComfortDelgro, Credit Bureau Asia, EnGro, F&N, Far East Orchard, First Sponsor, Frasers Property, Global Testing, GP Industries, Hiap Tong, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotel Royal, Hotung, Indofood Agri, Intraco, IPC Corp, Jardine C&C, Karin, Metro, Mewah, New Toyo, OUE, OUE Healthcare, Overseas Education, Pan Hong, PNE Industries, Qian Hu, Raffles Medical, Singapore Land Group, SingPost, Singapura Finance, Stamford Tyres, Straco, Straits Trading, Tan Chong International, TIH, Tuan Sing, Union Steel, UOA, Yanlord, Yeo Hiap Seng and YHI. No sale trade was done.

I have participated in the following scrip dividend scheme - Raffles Education.

Next month, companies with financial year ending 31 December 2025 will be conducting their AGMs. I have increased my pace of purchases this month due to market selloff. However, I still maintain a defensive stance for my portfolio construction and hold a decent amount of cash in anticipation of more volatility going forward.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 March 2026)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Singapore Land Group

3. Hong Leong Asia

4. Sing Investment & Finance

5. Hong Fok

6. Hong Leong Finance

7. UOB Kay Hian

8. The Hour Glass

9. UOL

10. Hotel Properties

11. Wing Tai

12. Jardine C&C

13. SGX

14. Sembcorp Industries

15. Bonvests

16. LHT

17. Stamford Land

18. Tat Seng

19. SingTel

20. DBS

21. Haw Par

22. ST Engineering

23. SBS Transit

24. Bukit Sembawang Estates

25. Hotel Grand Central

26. PM Data

27. GuocoLand

28. Far East Orchard

29. Multi-Chem

30. Singapura Finance

Top Holdings (US$ Denominated shares)

1. Hongkong Land
2. Jardine Matheson

3. TZ Da Ren Tang
4. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Tan Chong International

2. Shangri-La Asia

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. SingTel

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. Equatoriale Holdings

21. China Haida

22. Chaswood Resources

My Investment Portfolio (February 2026)

2026-02-27T21:43:00.003+08:00

STI ended a shorter February trading month at 4995 points, up around 1.8% for the month. In US, potential appointment of new US Fed chief had been announced. This had resulted in weakness in gold and strength in USD. Tech stocks were also sold down earlier in the month, due to worries on AI spending by companies. Election results in Japan and Thailand were also in the news. In Singapore, Budget 2026 had been in focus as well, particularly to those measures that affected the equities market. Towards the end of the month, US-Iran tensions and new US tariff rate added to the uncertainty. Volatility in the markets had continued to increase since the start of the year.

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

For my top 30 holdings this month, there were some major changes as our market react to result announcements from companies. Hiap Hoe, SBS Transit, Frencken, Multi-Chem and ST Engineering returned to the list, replacing Global Testing, Lum Chang, Hotel Grand Central, Straits Trading and F&N. Main contributors include The Hour Glass, Jardine C&C, SGX, LHT and SingTel. Detractors include iFAST, Hong Leong Finance, Bonvests, DBS and Bukit Sembawang Estates.

I have bought the following companies from the market this month - AnnAik, AvePoint, Avi-Tech, Baker Tech, Bonvests, Bund Center, Credit Bureau Asia, F&N, Far East Orchard, First Sponsor, Frasers Property, Global Investments, Global Testing, Golden Agri, Heeton, Hiap Tong, Hock Lian Seng, Hong Leong Finance, Hotel Grand Central, Hotel Royal, Hotung, Indofood Agri, Jardine C&C, Karin, Khong Guan, Metro, MTQ, MYP, New Toyo, OUE, Overseas Education, Pollux, PSC Corp, Qian Hu, Raffles Medical, Singapore Shipping, Straco, Sunright, TIH, UOA and Yeo Hiap Seng. No sale trade was done.

I have participated in the following scrip dividend scheme - Starhill Global REIT.

I have accepted the following voluntary delisting/cash offer this month - Low Keng Huat.

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

Next month will be another quiet one with not much corporate activities as investors digest those full-year results from companies with financial year ending 31 December 2024. I will continue to go through some of those result announcements that I have missed out in February. With STI breaking 5000 points this month, I will continue to be more defensive in my portfolio positioning and also hold more cash going forward.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 27 February 2026)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hong Leong Asia

3. Singapore Land Group

4. Sing Investment & Finance

5. UOL

6. The Hour Glass

7. Hotel Properties

8. Hong Leong Finance

9. Hong Fok

10. Wing Tai

11. UOB Kay Hian

12. Jardine C&C

13. Stamford Land

14. Bonvests

15. GuocoLand

16. Bukit Sembawang Estates

17. SGX

18. LHT

19. SingTel

20. Far East Orchard

21. Sembcorp Industries

22. DBS

23. Haw Par

24. Hiap Hoe

25. PM Data

26. SBS Transit

27. Samudera Shipping

28. Frencken

29. Multi-Chem

30. ST Engineering

Top Holdings (US$ Denominated shares)

1. Hongkong Land
2. Jardine Matheson

3. TZ Da Ren Tang
4. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Tan Chong International

2. Shangri-La Asia

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. SingTel

21. China Haida

22. Chaswood Resources

My Investment Portfolio (January 2026)

2026-01-30T18:21:00.002+08:00

STI ended the first month of the year at 4905 points, up more than 5.5% for the month. In US, focus initially had been on developments in Venezuela, Greenland and Iran. Also, new tariff issues re-surfaced. Precious metals including gold and silver rallied on geopolitical uncertainties plus USD weakness. Meanwhile, US Fed holds interest rate steady.

For my top 30 holdings this month, most stocks tracked the market upwards. Lum Chang is a new entry while Global Testing and Straits Trading returned to the list, replacing Multi-Chem, Yeo Hiap Seng and Singapura Finance. Main contributors include iFAST, Hong Leong Asia, UOL, Wing Tai, UOB Kay Hian, Bukit Sembawang Estates and GuocoLand. Detractors include Stamford Land, Jardine C&C, Samudera Shipping and LHT.

I have bought the following companies from the market this month - ABR, Alliance HC, Asia Enterprises, AvePoint, Avi-Tech, Bonvests, Brook Crompton, Bund Center, CFM, Chemical Industries, Credit Bureau Asia, Delfi, Digilife Tech, F&N, Far East Orchard, First Sponsor, Global Investments, GP Industries, GRP, Hiap Hoe, Hock Lian Seng, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, Karin, Metro, MindChamps, MTQ, New Toyo, Nippecraft, OUE, Overseas Education, PNE Industries, PSC Corp, Raffles Medical, Singapore Land Group, SingPost, Singapore Shipping, Singapura Finance, Stamford Tyres, Straco, Straits Trading, Sunright, TIH, Tye Soon, UOA, Yeo Hiap Seng and YHI. No sale trade was done.

My stake in Mandarin Oriental had been acquired via Scheme of Arrangement.

Next month, most companies with financial year ending 31 December 2025 will be announcing their full-year results. As usual, I will go through some of those result announcements. I have slowed down my purchases this month as markets continued to run up and hit new highs. With more volatility, uncertainty and headwinds expected ahead, stock selection becomes more crucial as one attempts to navigate the markets in the Year of the Fire Horse. Gong Xi Fa Cai!

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 January 2026)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hong Leong Asia

3. Sing Investment & Finance

4. Singapore Land Group

5. Hong Leong Finance

6. UOL

7. Hotel Properties

8. Hong Fok

9. The Hour Glass

10. UOB Kay Hian

11. Wing Tai

12. Bonvests

13. Stamford Land

14. Bukit Sembawang Estates

15. GuocoLand

16. DBS

17. Far East Orchard

18. Jardine C&C

19. Sembcorp Industries

20. SGX

21. Haw Par

22. PM Data

23. Samudera Shipping

24. LHT

25. Global Testing

26. SingTel

27. Lum Chang

28. Hotel Grand Central

29. Straits Trading

30. F&N

Top Holdings (US$ Denominated shares)

1. Hongkong Land
2. Jardine Matheson

3. TZ Da Ren Tang
4. DFI Retail Group

Top Holdings (HK$ Denominated shares)

1. Tan Chong International

2. Shangri-La Asia

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Nam Lee

21. China Haida

22. Chaswood Resources

My Investment Portfolio (December 2025)

2025-12-31T12:56:00.002+08:00

STI ended the year at 4646 points, up more than 2.5% for the month and up more than 22% for the year. In US, focus initially had been on private jobs report and the case for interest rate cut. Eventually, US Fed delivered a third consecutive round of rate cut for the year. Otherwise, it had been a quiet month with not much news flow.

I have attended the following physical AGMs/EGMs/briefing this month - Spindex.

For my top 30 holdings this month, most stocks tracked the market upwards. Samudera Shipping and GuocoLand returned to the list, replacing EnGro and Metro Holdings. Main contributors include iFAST, Singapore Land Group, Hong Leong Asia, UOL, Bukit Sembawang Estates and UOB Kay Hian. Detractors include Hotel Properties, Jardine C&C, Sembcorp Industries and SingTel.

I have bought the following companies from the market this month - A-Sonic, AnnAik, AP Oil, Aspial Corp, Baker Tech, Bonvests, Brook Crompton, Bund Center, Chemical Industries, ComfortDelgro, Credit Bureau Asia, Delfi, EnGro, F&N, Far East Orchard, Federal International, First Sponsor, Heeton, Hiap Hoe, Hock Lian Seng, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, IPC Corp, Karin, Koh Brothers, Metro, Mewah, MindChamps, OUE, OUE Healthcare, PNE Industries, PSC Corp, Shangri-La Asia, Sing Holdings, Sing Investment & Finance, Singapura Finance, Stamford Tyres, Straits Trading, Sunright, TIH, Tuan Sing, Tye Soon, Union Steel, UOA, Wing Tai, Wong Fong, Yeo Hiap Seng and YHI. No sale trade was done.

I have participated in the following preferential offer/rights issues - Keppel REIT and Lippo Malls Indonesia Retail Trust.

STI ended another year on a positive note despite another year of volatility. I will still be staying invested going into the new year, but will be holding onto some cash as markets again reached new highs during the year. As usual, I will continue to work on my stock selection and portfolio management. As for physical AGMs/EGMs, I have further reduced my attendance this year to more selected ones but will still be attending some next year. I look forward to meeting some of you out there again at AGMs/EGMs next year.

Wishing all my readers out there an amazing 2026. Happy New Year!

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 December 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Sing Investment & Finance

3. Singapore Land Group

4. Hong Leong Finance

5. Hotel Properties

6. The Hour Glass

7. Hong Fok

8. Hong Leong Asia

9. Stamford Land

10. UOL

11. Bonvests

12. Jardine C&C

13. Samudera Shipping

14. Wing Tai

15. Sembcorp Industries

16. DBS

17. Bukit Sembawang Estates

18. Far East Orchard

19. UOB Kay Hian

20. LHT

21. SGX

22. PM Data

23. Haw Par

24. SingTel

25. Multi-Chem

26. Hotel Grand Central

27. Yeo Hiap Seng

28. GuocoLand

29. F&N

30. Singapura Finance

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. SingTel

21. China Haida

22. Chaswood Resources

My Investment Portfolio (November 2025)

2025-11-28T18:56:00.004+08:00

STI ended November at 4523 points, up more than 2% for the month. In US, focus initially had been on ending the government shutdown. Lack of US government data due to shutdown also increased volatility in the markets, due to uncertainty on US Fed rate decision in December and also economic indicators. Meanwhile, concerns over the valuation of AI related companies also surfaced during the month. Towards the later part of the month, tensions between China and Japan also added to market uncertainty but it recovered some lost ground due to expectation of a US interest rate cut in December.

I have attended the following physical AGMs/EGMs/briefing this month - IPC Corp.

For my top 30 holdings this month, there were mixed performances among them. EnGro and Singapura Finance returned to the list, replacing GuocoLand and Samudera Shipping. Main contributors include The Hour Glass, UOL, Jardine C&C, SingTel and Haw Par. Detractors include iFAST, Hong Leong Asia, Sembcorp Industries and Metro Holdings.

I have bought the following companies from the market this month - ABR, AnnAik, Avi-Tech, Baker Tech, Bonvests, Brook Crompton, Bund Center, ComfortDelgro, F&N, Far East Orchard, First Sponsor, Frasers Property, Golden Agri, Heeton, Hiap Hoe, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, Karin, Koh Brothers, MindChamps, New Toyo, Overseas Education, PNE Industries, Pollux, Raffles Medical, Shopper360, Sing Investment & Finance, Singapore Land Group, Singapore Shipping, Straco, Straits Trading, Venture, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

The year is coming to an end with only one month to go. With many investors going on holidays in December, I expect next month will be a more quiet one with lower trading volume. It is also a good time to take stock, do a review of the year and plan ahead for the challenges expected in 2026.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 November 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Sing Investment & Finance

3. Hotel Properties

4. Singapore Land Group

5. Hong Leong Finance

6. The Hour Glass

7. Hong Fok

8. Stamford Land

9. Jardine C&C

10. Hong Leong Asia

11. Bonvests

12. UOL

13. Sembcorp Industries

14. Wing Tai

15. Far East Orchard

16. SingTel

17. LHT

18. DBS

19. SGX

20. Haw Par

21. UOB Kay Hian

22. PM Data

23. Multi-Chem

24. Bukit Sembawang Estates

25. Yeo Hiap Seng

26. Hotel Grand Central

27. F&N

28. Metro Holdings

29. EnGro

30. Singapura Finance

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. SingTel

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (October 2025)

2025-10-31T18:19:00.002+08:00

STI ended October at 4428 points, up around 3% for the month. In US, focus earlier this month had been on partial US government shutdown and expectation of further interest rate cuts. Also, there had been concerns on the return of trade war between US and China which was later paused. US Fed eventually delivered on 25bps rate cut, but may hold off on further interest rate cuts this year.

For my top 30 holdings this month, most stocks in the list tracked the market and did well. GuocoLand is a new entry to the list, replacing Global Testing. Main contributors include iFAST, Stamford Land, Jardine C&C, Haw Par and SingTel. Detractors include Hong Leong Asia, Hong Fok and Bonvests. Meanwhile, for my Top 5 Holdings (US$ Denominated shares), Jardine Matheson offered to buy out Mandarin Oriental via Scheme of Arrangement.

I have bought the following companies from the market this month - A-Sonic, ABR, Avi-Tech, Baker Tech, Bonvests, Bund Center, CFM, Credit Bureau Asia, Digilife Tech, EnGro, F&N, Far East, First Sponsor, Golden Agri, GP Industries, Heeton, Hiap Hoe, HL Global, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, IPC Corp, Jardine Matheson, Karin, Keong Hong, Khong Guan, Koh Brothers, New Toyo, OUE, Overseas Education, PNE Industries, Raffles Medical, Secura, Singapura Finance, Stamford Land, Straco, Straits Trading, Tuan Sing, Tye Soon, Venture, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

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

With only two months left before the year closes, it is certainly a good time to do some reflections. Markets seem to be pushing ahead and creating new record highs despite concerns on multiple fronts, including high valuation of AI related companies. I will continue to slow down my purchases before the year ends and be more defensive in my portfolio positioning.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 October 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Sing Investment & Finance

3. Hotel Properties

4. Singapore Land Group

5. Hong Leong Asia

6. Hong Leong Finance

7. The Hour Glass

8. Stamford Land

9. Hong Fok

10. Sembcorp Industries

11. Bonvests

12. Jardine C&C

13. Wing Tai

14. UOL

15. LHT

16. SGX

17. Far East Orchard

18. DBS

19. UOB Kay Hian

20. PM Data

21. Multi-Chem

22. Haw Par

23. Metro Holdings

24. Bukit Sembawang Estates

25. SingTel

26. GuocoLand

27. Hotel Grand Central

28. F&N

29. Samudera Shipping

30. Yeo Hiap Seng

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (September 2025)

2025-09-30T18:06:00.001+08:00

STI ended the 3rd quarter of the year at 4300 points, up around 0.7% for the month, thanks to the last trading day of the month rally. In US, focus this month had been on the labour market for signs of Fed cutting interest rate. Eventually, it was cut by 25 bps. Locally, investors were focused on the measures being rolled out by MAS in order to unlock value in SGX listed companies and also the launch of iEdge Singapore Next 50 indices.

For my top 30 holdings this month, some changes was observed. PM Data, Metro Holdings and Singapura Finance returned to the list, replacing Koh Brothers, Yeo Hiap Seng and SBS Transit respectively. Main contributors include Sing Investment & Finance, Far East Orchard, UOL and F&N. Detractors include Hotel Properties, Singapore Land Group, SingTel and Samudera Shipping.

I have bought the following companies from the market this month - A-Sonic, ABR, AP Oil, Aspial Corp, Baker Tech, Bonvests, Brook Crompton, Bund Center, Captii, Casa, CDW, Credit Bureau Asia, Delfi, Digilife Tech, EnGro, F&N, Golden Agri, Hiap Hoe, HL Global, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, IPC Corp, Jardine C&C, Karin, Mandarin Oriental, Metro, New Toyo, OUE, Overseas Education, PNE Industries, Shopper360, Sin Heng, Singapore Shipping, Singapura Finance, Straco, Straits Trading, Sunright, Tuan Sing, Venture, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

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

My stake in Hai Leck had also been acquired via Scheme of Arrangement.

Next month, companies with financial year ending 30 June 2025 will be holding their AGMs. As markets had advanced quite a bit and continue to hit all-time highs this month, I will continue to invest at a much 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 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Sing Investment & Finance

3. Hotel Properties

4. Hong Leong Asia

5. Singapore Land Group

6. Hong Leong Finance

7. The Hour Glass

8. Hong Fok

9. Bonvests

10. Sembcorp Industries

11. Stamford Land

12. UOL

13. Far East Orchard

14. Wing Tai

15. LHT

16. SGX

17. Jardine C&C

18. DBS

19. UOB Kay Hian

20. PM Data

21. Multi-Chem

22. Bukit Sembawang Estates

23. Haw Par

24. SingTel

25. Metro Holdings

26. F&N

27. Global Testing

28. Hotel Grand Central

29. Singapura Finance

30. Samudera Shipping

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

More than 20 Years of Blogging

2025-09-20T15:20:00.010+08:00

Dear all,

This blog is more than 20 years old! My first post for this blog was in 7th October 2004. How time files. I wonder how many of my readers who started to read my first blog post in 2004 is still around supporting this blog currently.

Over the years, many blogs come and go. With the advent of social media, more and more are creating content on other platforms rather than on blogs, which explains the decline of financial bloggers in this space. I have not switched to other platforms, and has decided also to keep this blog original to its intent and not made any changes to its layout. My main intention in setting up this blog is to really share my investment journey with everyone. Earning money from it is not my main aim and I have so far declined any sponsored posts on this blog.

A big thank you to you if you are still supporting this blog after all these years. A big shout out to all my silent readers out there too. You know who you are, and thanks for journeying with me all these years together with my investment portfolio. Through the years, I have made some changes to my investment portfolio. If you had been following my monthly updates, I have become more defensive in my portfolio positioning as I grow older. Also, the number of stocks in my portfolio had came down throughout the years, and I am now trying to run a more focused portfolio of stocks. Though the number is still large, it will slowly come down going forward.

For those who have left comments on my blog posts, thanks for your support and encouragement. I hope that my replies make sense to you and keep your comments coming so that we can continue to learn together in this journey. Will this blog be around for another 20 years? Personally, I don't think so. But as far as possible, I would like to keep it going if I still have the ability and energy to continue blogging. Hopefully, this blog will still be around and active for many more years to come.

Once again, thank you for your support and hope to continue to see you around here regularly.

My Unit Trust Asset Allocation

2025-09-07T15:44:00.006+08:00

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/2024/09/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 fixed income 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 fixed income fund.

For geographic exposure, Emerging Markets, Japan and Singapore funds were the out performers in the portfolio. Asia excluding Japan funds also did well.

Laggards are mainly single country funds. Most of these single country funds were in emerging/developing markets and the likes of India, Thailand, Indonesia and Malaysia each have their own country specific issues for the past year, which affected their respective stock market performance.

Going forward, my strategy is to add onto existing funds, while continue to maintain a more 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. I will also stick more to global, regional and developed markets single country funds to mitigate emerging/developing markets country specific risks.

Asset Class

Equity 79.53%

Balanced 12.82%

Fixed Income 7.65%

Geographic

Global 21.26%

Asia Pacific Excluding Japan 15.44%

Emerging Markets 13.41%

Japan 12.35%

US 8.32%

Singapore 8.29%

Asia excluding Japan 6.40%

Taiwan 3.22%

Europe including UK 3.05%

India 1.95%

Thailand 1.80%

Indonesia 1.78%

Malaysia 1.43%

Korea 1.40%

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

My Investment Portfolio (August 2025)

2025-08-29T17:40:00.011+08:00

STI ended August at 4269 points, up more than 2% for the month. The stock market in Singapore had been tracking the half year result announcements of companies with financial year ending 31 December 2025 and reacted accordingly. Meanwhile in US, latest job numbers, interest rate outlook and trade deal with China had been closely watched.

For my top 30 holdings this month, most stocks in the list did well, tracking the broader market. Koh Brothers is a new entry and Global Testing returned to the list, replacing ST Engineering and Tat Seng respectively. Main contributors include Singapore Land Group, Hong Leong Asia, Multi-Chem and SingTel. Detractors include Sembcorp Industries, Hong Leong Finance and F&N.

I have bought the following companies from the market this month - ABR, AF Global, AP Oil, Avarga, Avi-Tech, Baker Tech, Bonvests, Brook Crompton, Bund Center, Captii, Chuan Hup, EnGro, F&N, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, Innotek, IPC Corp, Jardine Matheson, Karin, Koh Brothers, Metro, OUE, Overseas Education, Pan Hong, PNE Industries, Singapore Shipping, Stamford Land, Straco, Straits Trading, Tuan Sing, Venture, Wing Tai, Yeo Hiap Seng and YHI. 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 - Starhill Global REIT, Boustead Singapore and CSE Global.

My stake in AV Jennings had also been acquired via Scheme of Arrangement.

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 29 August 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hotel Properties

3. Singapore Land Group

4. Sing Investment & Finance

5. Hong Leong Asia

6. Hong Leong Finance

7. The Hour Glass

8. Hong Fok

9. Bonvests

10. Sembcorp Industries

11. Stamford Land

12. Wing Tai

13. LHT

14. Far East Orchard

15. SGX

16. UOL

17. Multi-Chem

18. UOB Kay Hian

19. DBS

20. Jardine C&C

21. SingTel

22. Bukit Sembawang Estates

23. Samudera Shipping

24. Koh Brothers

25. Haw Par

26. Hotel Grand Central

27. Global Testing

28. Yeo Hiap Seng

29. SBS Transit

30. F&N

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

2. Keppel Ltd
3. CapitaLand Integrated Commercial Trust

4. CapitaLand Ascendas REIT
5. Seatrium

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (July 2025)

2025-07-31T18:20:00.011+08:00

STI ended July at 4173 points, up more than 5% for the month. STI had managed to hit another all-time high this month but weakened towards the end of the month. Focus on the market this month had been on US spending bill and “reciprocal” trade deals with US. Locally, MAS appointment of the first batch of EQDP asset managers had boasted some mid and small cap stocks. Meanwhile, US Fed kept interest rate on hold.

I have attended the following physical AGMs/EGMs/briefing this month - SIA Engineering.

For my top 30 holdings this month, most stocks in the list did reasonably well. F&N and SBS Transit returned to the list, replacing PM Data and CapitaLand Integrated Commercial Trust. Main contributors include iFAST, Hotel Properties, Singapore Land Group, Far East Orchard, Samudera Shipping, Jardine C&C and Haw Par. Laggards include LHT and SingTel.

I have bought the following companies from the market this month - A-Sonic, AP Oil, Aspial Corp, Avi-Tech, Baker Tech, Bund Center, Captii, Casa, Chemical Industries, Chuan Hup, ComfortDelgro, Digilife Tech, EnGro, First Sponsor, Frasers Property, Global Investments, Golden Agri, Heeton, Hiap Hoe, HL Global, Hong Fok, Hotel Grand Central, Hotung, IFS Capital, Indofood Agri, IPC Corp, Jardine C&C, Karin, Khong Guan, Koyo, Mandarin Oriental, Metro, New Toyo, Ocean Sky, OUE Healthcare, Overseas Education, Pan Hong, Pollux, Qian Hu, Riverstone, SHS, Singapore Shipping, Singapura Finance, Stamford Tyres, Straco, Teho, Tuan Sing, Venture, Wing Tai and YHI. No sale trade was done.

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

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

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

Next month will be another financial reporting season, as companies having financial year ending 31 December 2025 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 slowly back into the markets, while remaining prudent in deploying them during these volatile times.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 July 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hotel Properties

3. Sembcorp Industries

4. Hong Leong Finance

5. Sing Investment & Finance

6. The Hour Glass

7. Hong Fok

8. Singapore Land Group

9. Bonvests

10. Stamford Land

11. LHT

12. Wing Tai

13. Far East Orchard

14. SGX

15. Samudera Shipping

16. Bukit Sembawang Estates

17. UOB Kay Hian

18. UOL

19. DBS

20. Hong Leong Asia

21. Jardine C&C

22. Hotel Grand Central

23. Haw Par

24. Multi-Chem

25. Yeo Hiap Seng

26. F&N

27. SingTel

28. ST Engineering

29. Tat Seng

30. SBS Transit

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. Seatrium

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (June 2025)

2025-06-30T17:45:00.003+08:00

STI ended first half of the year at 3964 points, up around 1.8% for the month and up around 4.7% year to date. Markets were up during the early part of the month on stronger than expected payrolls result and President Trump’s push to cut interest rate. Also, anticipation of trade deal conclusion between US and China further added to the positive outlook. However, escalated tensions in the Middle East towards the middle of the month capped its upside though it recovered as the month closes.

For my top 30 holdings this month, most stocks in the list did well. Hong Leong Asia and UOB Kay Hian are the new entries into the list, replacing F&N and SBS Transit. Main contributors include The Hour Glass and Tat Seng. Laggards include Hotel Grand Central and Jardine C&C.

I have bought the following companies from the market this month - AF Global, Baker Tech, Banyan Group, Bonvests, Brook Crompton, Bund Center, Chuan Hup, Delfi, Digilife Tech, EnGro, F&N, Far East Orchard, Frasers Property, Golden Agri, GuocoLand, Hiap Hoe, HL Global, Ho Bee Land, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, Innotek, IPC Corp, Jardine C&C, Khong Guan, Metro, PSC Corp, Qian Hu, Riverstone, Secura, Singapore Shipping, Singapura Finance, Stamford Tyres, Straits Trading, Sunright, Tuan Sing, Tye Soon, Venture, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Ban Leong.

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

Next month will be another AGM season, with companies having financial year ending 31 March 2025 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 30 June 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Hotel Properties

3. Sembcorp Industries

4. Hong Leong Finance

5. The Hour Glass

6. Sing Investment & Finance

7. Hong Fok

8. LHT

9. Stamford Land

10. Bonvests

11. Singapore Land Group

12. Wing Tai

13. SGX

14. Bukit Sembawang Estates

15. Hong Leong Asia

16. Multi-Chem

17. DBS

18. UOB Kay Hian

19. Far East Orchard

20. SingTel

21. UOL

22. Hotel Grand Central

23. Tat Seng

24. Yeo Hiap Seng

25. PM Data

26. Jardine C&C

27. Samudera Shipping

28. Haw Par

29. CapitaLand Integrated Commercial Trust

30. ST Engineering

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. Seatrium

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (May 2025)

2025-05-30T19:39:00.004+08:00

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)

1. iFAST

2. Hotel Properties

3. Sembcorp Industries

4. Hong Leong Finance

5. Sing Investment & Finance

6. LHT

7. Hong Fok

8. Bonvests

9. The Hour Glass

10. Stamford Land

11. Singapore Land Group

12. Bukit Sembawang Estates

13. SGX

14. Multi-Chem

15. Wing Tai

16. DBS

17. SingTel

18. Hotel Grand Central

19. Far East Orchard

20. Jardine C&C

21. Yeo Hiap Seng

22. UOL

23. ST Engineering

24. SBS Transit

25. Haw Par

26. Samudera Shipping

27. PM Data

28. Tat Seng

29. CapitaLand Integrated Commercial Trust

30. F&N

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. Seatrium

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (April 2025)

2025-04-30T18:43:00.004+08:00

STI ended April at 3832 points, down around 3.5% for the month. Markets were sold off badly early in the month due to concerns on trade wars. The on and off tariff announcements from US further increased market uncertainty. Volatility also increased significantly this month. However, towards the end of the month, markets recovered some lost ground.

I have attended the following physical AGMs/EGMs/briefing this month - Great Eastern, UOI, Seatrium, Amara Holdings, Ho Bee Land and Koh Brothers.

For my top 30 holdings this month, many changes were observed due to the volatile market. Amara Holdings is the new top holding after having received a voluntary conditional general offer from a consortium. Other main contributors include LHT, SGX, SingTel and SBS Transit. Most of the other stocks in the list did not do well, with the main detractors being iFAST, PM Data and DBS. Singapura Finance meanwhile, returned to the list.

I have bought the following companies from the market this month - Advanced, Avi-Tech, Baker Tech, Banyan Group, BBR, Bonvests, Brook Crompton, Bund Center, Chemical Industries, Delfi, EnGro, F&N, Far East Orchard, Frasers Property, Golden Agri, GRP, GuocoLand, Heeton, Hiap Hoe, HL Global, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hongkong Land, Hotel Grand Central, Hotel Properties, Hotel Royal, Hotung, IFS Capital, Indofood Agri, Innotek, IPC Corp, KSH, Lum Chang, Mandarin Oriental, Metro, MYP, Noel Gifts, OUE, Overseas Education, PNE Industries, PSC Corp, Qian Hu, Sing Holdings, Singapore Land Group, Singapore Shipping, Stamford Land, Straco, Straits Trading, Tuan Sing, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Broadway Industrial.

I have participated in the following preferential offer/rights issue - Frasers Centrepoint Trust.

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

Next month, companies with financial year ending 31 December 2024 will be mostly paying out their final dividends after holding their AGMs in April. With tariff concerns, markets are expected to remain volatile going forward. As usual, I will re-invest those dividends back into the market prudently, while spreading my purchases to minimize risk.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 30 April 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. Amara Holdings

2. iFAST

3. Hong Leong Finance

4. LHT

5. Sembcorp Industries

6. Hotel Properties

7. Bonvests

8. Sing Investment & Finance

9. Hong Fok

10. The Hour Glass

11. SGX

12. Multi-Chem

13. Singapore Land Group

14. Far East Orchard

15. Jardine C&C

16. Haw Par

17. SingTel

18. Stamford Land

19. Hotel Grand Central

20. Wing Tai

21. DBS

22. SBS Transit

23. Bukit Sembawang Estates

24. UOL

25. PM Data

26. Samudera Shipping

27. Yeo Hiap Seng

28. Singapura Finance

29. CapitaLand Integrated Commercial Trust

30. Tat Seng

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. Seatrium

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (March 2025)

2025-03-28T19:53:00.001+08:00

STI briefly touched 4000 points during the last trading day of the month but ended March at 3972 points, up around 2% for the month. Markets were worried about rising tariff wars, US recession fears and Russia-Ukraine conflict progress during the earlier parts of the month. But towards the end of the month, markets staged a relief rally due to US FOMC maintaining two rate cuts for 2025. Due to many concerns, volatility also increased though it stabilised towards the end of the month.

For my top 30 holdings this month, some changes were observed. Main contributors include Sembcorp Industries, Singapore Land Group, Haw Par and UOL. Top detractors include iFAST, Hong Fok and PM Data. Great Eastern and Singapura Finance dropped out of the list while SBS Transit and CapitaLand Integrated Commercial Trust returned.

I have bought the following companies from the market this month - A-Sonic, AF Global, Avi-Tech, Baker Tech, BBR, Bonvests, Bukit Sembawang Estates, Bund Center, Chemical Industries, Chuan Hup, City Developments, Delfi, Digilife Tech, EnGro, F&N, First Sponsor, Frasers Property, Fuji Offset, Goodland, GuocoLand, Hiap Hoe, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hotel Properties, Hotung, Innotek, Jardine Matheson, Koh Brothers, KSH, Lion Asiapac, Low Keng Huat, Lum Chang, Mandarin Oriental, MegaChem, Metro, New Toyo, Nippecraft, Noel Gifts, OUE, OUE Healthcare, PNE Industries, PSC Corp, Riverstone, Shangri-La Asia, Sinarmas Land, Sing Investment & Finance, Singapore Shipping, Singapura Finance, Stamford Land, Straco, Straits Trading, Tan Chong International, Trendlines, Tuan Sing, Tye Soon, Willas Array, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

Next month, companies with financial year ending 31 December 2024 will be conducting their AGMs. As usual, I will try to attend some of these AGMs to get updates from my portfolio companies. With April being a traditionally low dividend paying month, I will slow down my purchases in the market in order to conserve cash for my expenses.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 March 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Leong Finance

4. Sembcorp Industries

5. Sing Investment & Finance

6. LHT

7. Hong Fok

8. Hotel Properties

9. Bonvests

10. The Hour Glass

11. Multi-Chem

12. DBS

13. Singapore Land Group

14. Haw Par

15. Jardine C&C

16. PM Data

17. Far East Orchard

18. Hotel Grand Central

19. Stamford Land

20. Wing Tai

21. Samudera Shipping

22. SGX

23. Bukit Sembawang Estates

24. Yeo Hiap Seng

25. Tat Seng

26. UOL

27. SBS Transit

28. SingTel

29. F&N

30. CapitaLand Integrated Commercial Trust

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. Seatrium Ltd

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (February 2025)

2025-02-28T20:01:00.000+08:00

STI ended Februrary at 3895 points, up around 1% for the month. STI managed to hit a new all-time high level this month even as markets were worried about tariffs and hawkish US Fed comments. In Singapore, Budget 2025, company earnings reports and MAS Equities Market Review Group proposed measures were closely watched. Due to many concerns, volatility had also increased this month.

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

For my top 30 holdings this month, investors were mostly reacting to company earnings reports. Main contributors include iFAST, Sembcorp Industries, Multi-Chem, SGX, Haw Par and F&N. Top detractors include LHT, Jardine C&C and Wing Tai. Hiap Hoe dropped out of the list while UOL returned.

I have bought the following companies from the market this month - AF Global, Alliance HC, Baker Tech, Bonvests, Brook Crompton, Bukit Sembawang Estates, Bund Center, Captii, Delfi, Digilife Tech, F&N, Far East Orchard, Frasers Property, Global Testing, GuocoLand, Hiap Hoe, HL Global, Ho Bee Land, Hock Lian Seng, Hotel Properties, Hotel Royal, Hotung, IFS Capital, Indofood Agri, Innotek, Jardine Matheson, Kingsmen, Lion Asiapac, Low Keng Huat, Mandarin Oriental, Metro, OUE, OUE Healthcare, Plato Capital, Raffles Medical, SBS Transit, Shangri-La Asia, Sing Holdings, Singapore Land Group, Stamford Land, Straco, Sunright, Tat Seng, Tye Soon, UOL, Venture and Wing Tai. I have also reduced my stake in Aspen Group and closed my position in Matex International.

Next month will be another quiet one with not much corporate activities as investors digest those full-year results from companies with financial year ending 31 December 2024. I will continue to go through some of those result announcements that I have missed out in February. With volatility increasing this month, I will continue to be more defensive in my portfolio positioning going forward.

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 28 February 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Leong Finance

4. Hong Fok

5. Sembcorp Industries

6. Sing Investment & Finance

7. LHT

8. Bonvests

9. Hotel Properties

10. The Hour Glass

11. Multi-Chem

12. PM Data

13. DBS

14. Jardine C&C

15. Hotel Grand Central

16. Far East Orchard

17. Stamford Land

18. SGX

19. Singapore Land Group

20. Haw Par

21. Samudera Shipping

22. Bukit Sembawang Estates

23. Wing Tai

24. Yeo Hiap Seng

25. F&N

26. SingTel

27. Tat Seng

28. Singapura Finance

29. UOL

30. Great Eastern (Suspended)

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

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (January 2025)

2025-01-31T18:49:00.003+08:00

STI ended the first month of the year at 3855 points, up around 1.8% for the month aided by gains during the last trading day of the month as US Fed paused interest rate cuts. Markets were worried about US Fed’s interest rate trajectory earlier this month due to inflation data and employment numbers reported. Also, US President Donald Trump’s business policies had been closely watched. Towards the end of the month, the emergence of DeepSeek seems to affect confidence in some AI related stocks.

For my top 30 holdings this month, some changes were observed as investors returned to the market. Main contributors include LHT, Multi-Chem and Singapore Land Group while Amara Holdings and F&N were among the top detractors. Metro Holdings dropped out of the list while SingTel returned. Meanwhile, Great Eastern was granted a further extension of time to comply with listing rules and remain suspended. AV Jennings, my Top Holding (Aust$ Denominated shares) had received a higher completing bid from Ho Bee Land.

I have bought the following companies from the market this month - A-Sonic, Asia Vets, Baker Tech, Bonvests, Brook Crompton, Bukit Sembawang Estates, Bund Center, Captii, CDW, Chemical Industries, City Developments, Delfi, Digilife Tech, F&N, Far East Orchard, Goodland, GuocoLand, Hiap Hoe, Ho Bee Land, Hock Lian Seng, Hong Fok, Hong Leong Finance, Hotel Grand Central, Hotel Properties, Hotel Royal, Hotung, IFS Capital, Indofood Agri, Innotek, Jardine Matheson, Karin, Khong Guan, Koda, Lion Asiapac, Lum Chang, New Toyo, Nippecraft, OUE, PSC Corp, Raffles Medical, SBS Transit, Shangri-La Asia, Sing Holdings, Singapore Land Group, Singapore Shipping, Singapura Finance, Stamford Land, Straco, Straits Trading, Tan Chong International, Tuan Sing, UOL, Venture, Wing Tai, Yanlord, Yeo Hiap Seng and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Courage Investment.

Next month, most companies with financial year ending 31 December 2024 will be announcing their full-year results. As usual, I will go through some of those result announcements. I will also continue to deploy my cash holdings slowly back into the markets, buying mostly value plays in the small and mid cap space plus some selected blue chip stocks. With more volatility, uncertainty and headwinds expected ahead, stock selection becomes more crucial as one attempts to navigate the markets in the Year of the Wood Snake. Gong Xi Fa Cai to all my readers out there!

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 31 January 2025)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. LHT

3. Hong Leong Finance

4. Amara Holdings

5. Hong Fok

6. Sing Investment & Finance

7. Sembcorp Industries

8. Bonvests

9. Hotel Properties

10. The Hour Glass

11. PM Data

12. Jardine C&C

13. DBS

14. Multi-Chem

15. Hotel Grand Central

16. Stamford Land

17. Far East Orchard

18. Singapore Land Group

19. Wing Tai

20. Bukit Sembawang Estates

21. Yeo Hiap Seng

22. Samudera Shipping

23. SGX

24. Haw Par

25. SingTel

26. Singapura Finance

27. Great Eastern (Suspended)

28. Tat Seng

29. F&N

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. 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

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (December 2024)

2024-12-31T14:54:00.000+08:00

STI ended the year at 3787 points, up more 1% for the month and up around 17% for the year. The US Fed as expected cut rate in December but markets were surprised that they guided for lesser cuts next year. Investors sold down stocks in response to US Fed announcements but markets recovered some lost ground towards the end of the month. Volatility also increased this month.

For my top 30 holdings this month, not much changes had been observed in what had been a quiet month. Main contributors include LHT and Sembcorp Industries while PM Data continued to remain weak.

I have bought the following companies from the market this month - Alliance HC, AP Oil, Asia Enterprises, Baker Tech, Brook Crompton, Bukit Sembawang Estates, Bund Center, Chemical Industries, City Developments, Delfi, Digilife Tech, First Sponsor, Goodland, GuocoLand, Ho Bee Land, Hock Lian Seng, Hong Fok, Hotel Grand Central, Hotel Properties, Hotung, IFS Capital, Indofood Agri, Kingsmen, Lion Asiapac, Mandarin Oriental, Metro, MTQ, OUE, Overseas Education, Pollux, Raffles Medical, SBS Transit, Secura, Shangri-La Asia, Singapore Land Group, Singapura Finance, Stamford Land, Straits Trading, Tuan Sing, Tye Soon, UOL, Wing Tai and YHI. No sale trade was done.

I have accepted the following voluntary delisting/cash offer this month - Vibropower (warrants).

STI ended the year on a positive note despite another year of volatility. Again, I will be staying invested going into the new year, but will be holding onto some cash as markets seemed to have reached new highs. I will continue to work on my stock selection and portfolio management. As for physical AGMs/EGMs, I have reduced my attendance this year and will look forward to resume attending some of them next year. Hope to meet some of you out there again soon.

Wishing all my readers out there many more great returns in 2025. Happy New Year!

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

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Leong Finance

4. Hong Fok

5. Sing Investment & Finance

6. Bonvests

7. LHT

8. Sembcorp Industries

9. Hotel Properties

10. The Hour Glass

11. Jardine C&C

12. PM Data

13. Hotel Grand Central

14. Far East Orchard

15. DBS

16. Stamford Land

17. Wing Tai

18. Yeo Hiap Seng

19. SGX

20. Multi-Chem

21. Bukit Sembawang Estates

22. Samudera Shipping

23. Singapore Land Group

24. F&N

25. Metro Holdings

26. Great Eastern (Suspended)

27. Hiap Hoe

28. Singapura Finance

29. Haw Par

30. Tat Seng

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

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (November 2024)

2024-11-29T19:44:00.006+08:00

STI ended November at 3739 points, up around 5% as compared to last month. Lead by the banks, STI is now near its all-time high level but the rest of the market continue to underperform. Early in the month, investors were digesting the US election results and its impact on interest rate. But the post election rally fizzled out as the month progressed as concerns on trade tariffs emerged though the US market still did well for the month.

For my top 30 holdings this month, PM Data and Metro were weak after reporting their 1H25 results. DBS and SGX did well as investors were positive that interest rate will remain higher for longer. Haw Par returned to the list on the back of the strength of UOB share price performance, while REITs continued to be out of the list due to higher interest rate concerns. Jardine Matheson was the top performer in the Top 5 Holdings (US$ Denominated shares). AV Jennings, my Top Holding (Aust$ Denominated shares) had received an indicative proposal to acquire the company via scheme of arrangement.

I have bought the following companies from the market this month - ABR, Baker Tech, Banyan Group, Bonvests, Brook Crompton, Bund Center, Captii, City Developments, CosmoSteel, Digilife Tech, EnGro, Far East Orchard, First Sponsor, GuocoLand, Hiap Hoe, Ho Bee Land, Hong Leong Asia, Hong Leong Finance, Hotel Grand Central, Hotung, Indofood Agri, Innotek, IPC Corp, Karin, Koda, Koh Brothers, KSH, Lion Asiapac, Low Keng Huat, Mandarin Oriental, Metro, MTQ, Nam Lee, New Toyo, OUE, OUE Healthcare, Overseas Education, Raffles Medical, SBS Transit, Singapore Land Group, Singapore Shipping, Singapura Finance, Straits Trading, Tai Sin, Tuan Sing, Tye Soon, UOL, Wing Tai, Yeo Hiap Seng and YHI. No sale trade was done.

The year is coming to an end with only one month to go. With many investors going on holidays in December, I expect next month will be a quiet one as we close out the year. It is also a good time to take stock, do a review of the year and plan ahead for 2025. Wishing all my readers out there a restful holiday!

My S'pore Stock Portfolio - Top Holdings, cash investment only (correct as at 29 November 2024)

Top 30 Holdings (Sing$ Denominated shares)

1. iFAST

2. Amara Holdings

3. Hong Leong Finance

4. Hong Fok

5. Sing Investment & Finance

6. Bonvests

7. Hotel Properties

8. LHT

9. Sembcorp Industries

10. PM Data

11. The Hour Glass

12. Jardine C&C

13. Stamford Land

14. Far East Orchard

15. Wing Tai

16. Hotel Grand Central

17. DBS

18. Yeo Hiap Seng

19. SGX

20. Multi-Chem

21. Samudera Shipping

22. F&N

23. Bukit Sembawang Estates

24. Singapore Land Group

25. Great Eastern (Suspended)

26. Metro Holdings

27. Hiap Hoe

28. Haw Par

29. Singapura Finance

30. Tat Seng

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

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (October 2024)

2024-10-30T19:57:00.003+08:00

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

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (September 2024)

2024-09-30T18:40:00.001+08:00

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

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Unit Trust Asset Allocation

2024-09-14T11:00:00.000+08:00

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)

2024-08-30T19:11:00.001+08:00

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.

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

21. Equatoriale Holdings

22. China Haida

23. Chaswood Resources

My Investment Portfolio (July 2024)

2024-07-31T18:42:00.000+08:00

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

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

22. Equatoriale Holdings

23. China Haida

24. Chaswood Resources

My Investment Portfolio (June 2024)

2024-06-28T18:54:00.000+08:00

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

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

22. Equatoriale Holdings

23. China Haida

24. Chaswood Resources