Tuesday, 26 May 2015

My Portfolio – Updates of Buy and Sell

I has been pretty quiet on the stock market this year compared to last. Reasons stem from intensifying work commitments, new member in the house, and also the “perceived” lesser opportunities in the current stock market. Nonetheless, I had made some transactions since my last portfolio update more than a month ago - “My Portfolio – 1Q15 Review”.


"SELL"

OUE – Sell at >5% profit at 2.19. Mission accomplished since the original intention of buying is to realise gain when OUE unlocked Crown Plaza to OUEHT.  

Lippo Mall Tr – Partial sale to rebalance exposure. Accumulated more lots earlier at 0.34 after placements, to average down from the initial >0.4 price. Since prices had risen to a high of 0.37 even after dividends payment, I decided to sell partially to rebalance my exposure.

Courts Asia – Sell entirely at a loss at 0.42 after buying at a >20% higher price earlier. Retail climate in Singapore is unfavourable with high cost from labour tightening and cautious household spending. Courts last quarter’s earnings is also badly affected by forex loss and losses from opening of Indonesia Bekasi megastore. Weaker Malaysian economy, due to oil price, GST, and political bickering does not help. 

"BUY"

Vicom – Picked up few lots. Solid company with economic moat, strong balance sheet, and steady growth over the years. I felt that there is room for growth in other segments and outside Singapore as well. Always wanted to own this counter, and did so when share price retreated slightly recently. Refer to B’s detail analysis here and here.

Woolworths (ASX) – Bluechip in Australia with >3000 stores in AU & NZ. Businesses span food, liquor, petrol, general merchandise, home improvement and hotels. Refer to website here. Price near 3 year low at mid A$28, due to competitions from another Bluechip Wesfarmers, as well as budget supermarket operators entering the market. To add “salt to injury”, its Masters Home improvement chains are not doing well. However I like Woolworths’ incredible track records of earnings and dividend growth over the years. At current price, dividend indicated gross yield is close to 7% (5% fully franked) and PE (ttm) is reasonable at 14.8 compared to Wesfarmers 32.2.

CURRENT PORTFOLIO

1. AIMS AMP Cap
2. ARA
3. Asian Pay TV
4. CapitaRetail China Tr
5. China Aviation
6. CM Pacific
7. Coca Cola Amatil (ASX)
8. Comfort Delgro
9.  Croesus Retail Trust
10. Ezion
11. Fraser Com Tr
12. KrisEnergy
13. Lippo MIRT
14. Maple Log Tr
15. Oveseas Education
16. Raffles Medical
17. Sembcorp Ind
18. SGX
19. Starhub
20. Suntec Reit
21. Super
22. Swissco
23. Vicom
24. Woolworths


11 comments:

  1. Replies
    1. Hi David,

      Similarly, thanks for dropping by. Hope ur portfolio is doing well.

      Delete
  2. Hmm, didn't see sembmarine in your portfolio. Do you think its a good opportunity to accumulate at the low price now? Since you're in the marine industry I'm sure you'll know more ;)

    ReplyDelete
    Replies
    1. Hi SGYI,

      Always good to accumulate at low price if investment horizon is long for any fundamentally sound biz. Sure u alrdy noe.

      I do not want to comment on sembmarine bcos it is a co that has gd past track records. Same Sembcorp which also differentiates with utilities in growing mode.

      But being opinionated, in general, all shipyards biz is a tough biz! Big overheads whether got orders or not? Risk of lousy payment terms n having to finance the buyers! Stuck in bet. buyers and multiple supplies... just like SAF SGT. Better be officer and or man!

      Delete
  3. Woolworths looks interesting, will go take a look. thanks

    ReplyDelete
    Replies
    1. Hi Felix,
      Thanks for dropping by. Do take note of AUD for woolworths. Westerners Coles is doing much better now, so there is a worry!

      By the way, care to exchange links?

      Delete
  4. Hi Rolf

    Welcome to Vicom :)

    Woolworths looks interesting there, with high gross dividend yield and a fair ttm pe at the moment. Might take a look into this one since you have highlighted... and vested too.

    ReplyDelete
    Replies
    1. Hi B,

      I wanted to add Vicom since long time ago.Thanks for ur posts of course. Glad I added, though it's more than $6. For Woolworths, hopefully it can ward off its competition over time..

      Delete
  5. Rolf,

    Oh ya, Woolworths stores are everywhere when I visited Melbourne, Australia, they are like NTUC/Cold Storage of Singapore.

    ReplyDelete
    Replies
    1. Hi Richard,

      Thanks for the note. I been to Australia but definitely I am Sotong to miss that out. Hopefully they can maintain position as NTUC or Cold storage.

      Delete
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