Portfolio

Portfolio sees mixed results over recent reporting season
SINGAPORE (Dec 11): The recent results season has seen mostly positive numbers from the 16 companies in our portfolio that reported results in the quarter ending Sept 30. Nine reported earnings growth in the recent quarter, while five saw their earnings decline and two reported losses. The biggest increase in earnings came from property developer UOL Group, which reported a 609% y-o-y ...
Cogent’s earnings fall but PhillipCapital still positive
SINGAPORE (Dec 4): Logistics player Cogent Holdings reported a 4% y-o-y rise in revenue to $35.3 million for 3QFY2017 ended September, but earnings fell 6% to $7.4 million. The group saw better volumes in the container depot management and transport management businesses. However, earnings were affected by higher contract services charges as well as storage and handling costs. Also, depreciation ...
Unexpected industry glut impacts Sarine on top of illicit competition
(Nov 27): The Straits Times Index has continued to rally this year. It added 0.7% over the period from Nov 14 to 21 to close at 3,423.38 points, extending its year-to-date gains to 18.8%. Since the inception of the Singapore Market Portfolio on Jan 4, the STI has returned 20.8% including dividends. By comparison, our portfolio has returned 15.4%. The biggest drag on our performance has been ...
Solid earnings, but portfolio slips as sentiment weakens
(Nov 20): This past week of the earnings season has brought positive news for some of the property and tech companies in our Singapore Market Portfolio. One of our holdings in the mining space continues to face headwinds, but is building new capabilities. On the positive side, components manufacturer Memtech International saw a 26.5% y-o-y increase in earnings for 3QFY2017 ended Sept 30 to ...
DBS shrugs off poor results, Venture pushes higher, and Cogent gets an offer
(Nov 13): It has been an interesting week of results for our Singapore Market Portfolio, with two of our larger-cap holdings hitting new highs after reporting their 3QFY2017 numbers. Meanwhile, another one of our holdings benefited from an offer. Early in the morning of Nov 6, DBS Group Holdings said its earnings for 3QFY2017 fell 25% y-o-y to $802 million, or 29.6% below the Bloomberg ...
Taking profit on Chew's after egg farmer ends negotiations
(Nov 6): Shares in egg producer Chew’s Group have taken a tumble since the Oct 25 announcement that negotiations with external parties about a possible offer have been terminated. The counter, which closed at 59 cents on Oct 25 before the announcement, opened eight cents lower at 51 cents on Oct 26. The stock has since rallied slightly to end at 52.5 cents on Oct 27. At that level, Chew’s ...
The Hour Glass rises on bullish data, but Chew’s calls off sale to third party
(Oct 30): The market is warming up to luxury watch retailer The Hour Glass, which we added to our Singapore Market Portfolio on Oct 10. During the week to Oct 24, the stock rallied 6.2%, on reports that Swiss watch exports to Singapore saw a 90% y-o-y surge in September to CHF179.2 million ($246 million). Exports of Swiss watches to Singapore have improved significantly this past year, ...
Venture, Sarine, SGX bear watching as results season approaches
(Oct 23): As another reporting season approaches, market sentiment towards some of our holdings is riding high. Strong earnings reports for 3QFY2017 could quickly push some of these stocks higher, but any disappointment could lead to an ugly sell-off. In particular, Venture Corp is up 83.4% since we added it to our portfolio in Jan 4. On Aug 4, the company reported a 41.3% rise in revenue for ...
Adding The Hour Glass as luxury watch sales recover
(Oct 16): The improvement in the luxury watch industry this year appears set to continue. From January to August, the total export value of Swiss watches rose 1.2% y-o-y to CHF12.6 billion ($17.6 billion), according to the Federation of the Swiss Watch Industry FH. This was driven by higher sales in the majority of markets around the world. Hong Kong, the world’s top destination for Swiss ...
Adding developer Chip Eng Seng as residential market recovers
(Oct 9): Home prices rose 0.5% in the third quarter of this year, the first rebound in four years, according to flash data released by URA on Oct 2. The private residential property index rose 0.7 points from 2Q to hit 137.3 points. OCBC Investment Research says this is “a key inflection point marking the end of the Singapore housing bear” and that home prices hit their cyclical lows in ...