Portfolio

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 ...
Maldives property could add to Keong Hong’s recurring income
(Oct 2) The Mercure Maldives Kooddoo Resort was launched to great fanfare on Sept 25, despite already being in business for a month. In attendance were Maldivian president Abdulla Yameen Abdul Gayoom, the Maldivian ministers for tourism and economic development, and members of parliament. Representing Singapore were non-resident ambassador to the Maldives Chua Thian Poh and Keong Hong Holdings ...
Alleged IP theft batters Sarine, but our holding stays for now
(Sept 25): Oscar Wilde once wrote that imitation is the sincerest form of flattery that mediocrity can pay to greatness. The theft of intellectual property, however, is the sort of flattery that can kill a potentially great company. Israel-based gemmological tool maker Sarine Technologies, which was added to our Singapore Market Portfolio back in April 11, has claimed in India’s courts that ...
Optimism over Cogent’s new bet on student housing
(Sept 18): This past week, one of our Portfolio companies had attracted some attention over a new business venture. On Sept 7, logistics services company Cogent Holdings announced that it has been awarded a three-year lease tender by the Singapore Land Authority (SLA) to run a student hostel near Holland Village. The property is just 700m from ACS International, a popular local independent ...
Simulation model projects loss of 37% if war breaks out
(Sept 11): In the wake of destruction wrought by Hurricane Harvey in Texas, the US is set for another storm. Hurricane Irma, which is said to be one of the most powerful Atlantic hurricanes ever, is expected to hit Florida this weekend. At the same time, North Korea successfully conducted its sixth and largest nuclear bomb test on Sept 2, leading to fears of a US military strike. Those events ...
Portfolio turns in mostly positive earnings surprises in last quarter
(Sept 4): Our Singapore Market Portfolio rose 0.67% over the week from Aug 22 to 29, against a 0.44% fall in the Straits Times Index. Now that all the companies in our portfolio have reported their earnings for the quarter to June, we have decided to review their performance as a whole. Ten out of the 16 companies in the portfolio have announced y-o-y improvements in their quarterly earnings ...
GEAR makes a comeback, CNMC buying back shares
(Aug 28): Local equities suffered losses for four consecutive sessions in the past week, with the benchmark Straits Times Index falling 0.95% between Aug 15 and 22. Our Singapore Market Portfolio also declined in value — by 0.6% — led by a 2.2% fall in the shares of high-tech equipment maker Venture Corp, a 2% decline each for Singapore Exchange and lubricant maker AP Oil International and a ...
CNMC results disappoint again; Second Chance added to portfolio
(Aug 21): Corporate earnings for 2Q2017 were not great. Of the Straits Times Index’s 30 component companies, 14 missed market expectations, while 11 outperformed, says Margaret Yang, an analyst at CMC Markets, citing Bloomberg data. The remaining five companies did not have a consensus forecast. Among the ones that reported especially weak numbers were those in the offshore and marine sector ...