For this month, the feel is like consolidating my positions.
While there might be more actions taken for the rest of the month (and year), it felt like I have more or less completed setting up my portfolio for the year.
I was disappointed that they did not increase the dividend even though the cash pile continues to build up. Also, Singapore Flyer has not resumed its operation and will definitely affect Q1 results even though management has indicated they have insurance for operation and the impact is not significant. Hence, I decided to sold half of my stake at $0.82, taking a loss of 3.8% (excluding dividend collected). I would wait for clarity on the use of cash pile before taking further actions.
Took a small stake due to a read up on its story and was hoping for special dividend for its 130th Anniversary which did not occur. Decided to sell at a loss of 4.6% to raise fund for other ideas.
I have always been lucky with ST Engineering. For the past 5 to 6 occasions over the many years, I have made money with it. This time round, I have made a gain of 8.4% after holding it for 3 months. Again, I was hoping for a special dividend for its 50th Anniversary which did not materialized. Sold for a quick profit to raise fund for other ideas.
As written in the previous post, I am re-booting my US counters as I migrate to FSMOne platform to buy US stocks. Started my new adventure last July and for all the trades made, I have made an average gain of 5.4%. Nothing impressive but am grateful of the gain during this period of trial and error.
With the clarify on the impact of its impairment of Cafe Bene, I decided to re-enter the counter at an average price of $0.673. Slightly higher than my sold price of $0.66 and $0.64 earlier in the year but no regret as I was clear of my decision. Holding a smaller stake than before which I am probably more comfortable with at the moment.
Impressed by the management on their past actions, I decided to add more Nordic, bringing it to a position size of 4.8% of my portfolio with an average price at $0.579. While I have not put in as much effort in reading up on it yet, I believe the company should be able to keep to its goal of 20% annual growth for the new few years.
Continue to accumulate as I believe it can sustain its dividend for the next few years and there might be positive catalyst for its car inspection in 2 to 3 years time. Average price at $5.815 with a position size of 6.0%.
Hock Lian Seng
Re-entered Hock Lian Seng at average price of $0.477. Its price has slid after a reduction in its dividend. Took the chance to take up a position for its strong balance sheet and order book. Believe that the dividend will be increased again next year.
Took a very small stake when price slid to $0.074. A punt on turning around its aerospace business and believe that the new chairman Andy will bring it to the next level. Might add more at appropriate juncture.
This one which I bought too early in January and it went on a tailspin after that. Deliberated. Re-read its latest presentation and decided to average down, bringing my average price to $1.32. The next few quarters DPU will still be supported by its divestment gain and things look positive with the latest developments. Should be able to make profit in a year or two.
Re-entered Ulta at US$207.26 before the release of its full year results. While there is still a class action on the company on re-selling its used product, I think the furore will not drag too long and its strong growth will support the price.
Re-entered Starbucks at US$57.69 as I continue to believe in its growth story in China.
Re-entered Disney at US$104.25 as the brand continues to appeal and will become stronger now that it has bought over Fox Channel.
Looking at my portfolio, these are the few things that I would likely to do moving forward. When I will do it? Not quite sure yet.
- Trim my SingTel position. While I like its dividend yield, the business is a tad too complex for my simple mind to have too big a position.
- Sell Avi-Tech and channel cash to JEP. With UMS and Valuetronics, I guess I do not need another small semi-con/electronics counter in my portfolio. JEP seems to be a better proposition with a higher probability of a turn around play.
- Look to re-entered 1 or 2 more US counters and/or add more to JD.com. Currently, US portfolio only takes up about 5% of my portfolio. Would slowly increase it to about 8% to 10% by end of the year.
hi KC, glad to note that you have loaded some Food Empire again. This is still my core holding. With café bene out of the way, I believe company can focus and grow its core biz. hope for better times ahead. Cheers.
Yeh, let’s hope everything goes well. With the continual expansion in the ingredient market, it’s earning should become more resilient in future.