Tuesday, September 29, 2009

Holding Review on September 2009

Only 1 change, that is my addition of ASA Group recently at $0.055. The reason is mostly speculative as I bought it because of some insider trading and the long-term loan provided by the major shareholder. The company is also in the SGX Watchlist so SGX will probably help me query them more often. Its price is very low so it is very sensitive to any price change. A change of $0.005 will already result in a 9% change in value, so be extra careful and do your own homework.

I had been trying to get China Precision at 0.27 but could not. I tried different lots size, placing order at 5:15pm to hopefully end up at the start of the queue the next day but nothing seems to work.

Investment SecuritiesPurchase DateAnnualised ReturnSharesBuy Price
STI ETF*15-Jan-2008-13.70%1,9833.47
STI ETF*17-Oct-200826.40%5022.08
STI ETF*25-Aug-20094.20%3,6042.65
ASA Group28-Sep-20092720.26%33,0000.055
STI ETF*28-Sep-2009-548.09%6802.67

* indicate benchmark for performance tracking. Note the STI ETF does not include dividends, so performance of the ETF is underrated by around 4 to 5% per year.

Sihuan: Still no open market purchase by China Pharma. China Pharma stock has risen quite a bit, and there don't seem to be any bad news. So continue to try selling at $0.975, the offer price. I am still not sure if it is worthwhile to accept the offer instead of selling on the open market.

Cacola: I decide against studying in detailed about Cacola. I read about Buffett saying, if you need a computer or calculator for analyzing the company, it is too complex for you. Sadly, there has been no news release about the 21st August court result against IW Asset. Probably, it was postponed but no idea. For people interested in searching more, try 东莞家居乐 which is the chinese name of Cacola.

Powerplus: I should probably sell it if I find better opportunity and not get too emotional with it. The buying of China Steel Australia, a company a previous non-executive chairman had directorship in, did not have a positive impact to the company income statement this year. The company also converted the plant from a nickel pig iron to merchant pig iron, resulting in huge capital expenditure. I have no clue about steel industry and I did not buy Powerplus to study about steel sector. However, people interested should look at the China Steel Australia website for more details. The acquisiton of the TOPSO trademark does not seem of value with little mention of it after the acquisition.

Overall: Time has become very tight for me so I cannot really spend much time on studying fundamental of companies, including those I hold. I am seriously considering buying the STI ETF and forget about the stock market for a while till I am more free. I need more capital to make any attempt beating the benchmark more worthwhile.

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