Wednesday, 30 September 2015

Monthly Update of Portfolio [September 2015]


Accumulated Silverlake Axis, Penguin and China Fishery (10 lots) to my portfolio. This is because these stocks have fallen to attractive values, especially Silverlake. While the verdict of Silverlake's investigation has not been released, my personal sense is that there will not be much adverse news of contagion liabilities lurking in Silverlake's balance sheet.


I have divested KSH in the run up of its share price. This is because its MOS became relatively much lower than Silverlake to warrant a switch. In addition, I am not optimistic of its Prudential Tower project (approx 20% of assets post bond redemption) given the poor office outlook and slow strata sales (only 7 floors sold). 


Currently, Silverlake seems to be the most attractive stock. Selling at a forecast 6% dividend yield with little debt, it seems to be better than Vicom (3% Dividend yield). I am also eyeing other stocks such as FCL, Teckwah and BBR; however their prices have not fallen to low levels to be attractive.


  1. Sliver Axis is indeed interesting. Your thoughts on valuetronics?

  2. Hi Gy,

    Valutronics is a decent business which generates consistent free cash flow. It is a good consideration, if one is looking at a stable business at normal growth rates