Portfolio Review April 2020



Please click and read this disclaimer if you wish to continue with the contents below.




Bench marking myself against STI and World Index:

Year to date:

STI Index: -18.52%
World Index: -10.83%
My Portfolio: -8.90%

Three years trailing:

STI Index: -17.17%
World Index: 4.36%
My Portfolio: 8.4%

Last three years trailing was semi decent since I transitioned out of my bond portfolio completely by end 2017. Year to date, I managed to outperform STI index by 9.62% and World Index by 1.93%. Three years trailing, I manage to outperform STI index by 25.57% and World index by 4.04%.


Portfolio composition:


Comments on some of the counters:

Sunevision(HK:1686) operates and owns the largest data center in Hong Kong. With more people working from home, more bandwidth demand will need to be met. More land for further capacity expansion in Hong Kong has also been secured.


Pacific Century(SG:P15) owns 22.7% stake in PCCW(HK:8) and $278mil of HKT(HK:6823) at cost in their books. The dividend contribution from them give Pacific Century close to $100mil worth of free cash flow every year(12% free cash flow yield). HKT is one of the largest telecommunications company of Hong Kong and they have recently rolled out their 5G services. Utility should continue to have stable earnings because of its defensive nature. 



CSPX and IWDA are efficient indexes as they are Ireland domiciled and London listed with a 15% less tax on dividend. I chose Vanguard S&P500 HK(HK:3140) instead as it matches my normal trading hours and pays a quarterly dividend. Its tracks the S&P futures when it opens, payout and trades in HKD which I prefer. Good to have some potential reverse correlation with my China and Hong Kong exposure. 


Qingling(HK:1122), Cosco Intl HK(HK:517) and Oriental Watch(HK:398) are net net counters that are very profitable. Their cash net off total liabilities are more than their current market cap. Not only that, their high yields are free cash flow sustainable. 


Wharf Reic(HK:1997) pre covid19 gives a low levered price to free cash flow of 7x with a fixed 65% payout from their core underlying. It is one of the worse hit counter recently due to the pandemic. Interesting to see if it can outperform our local Reit Index five years from now.

18 comments :

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  7. I want to share my testimony on how i got the blank ATM card. I was so wrecked that my company fired me simply because i did not obliged to their terms, so they hacked into my system and phone and makes it so difficult to get any other job, i did all i could but things kept getting worse by the day that i couldn’t afford my 3 kids fees and pay my bills. I owe so many people trying to borrow money to survive because my old company couldn’t allow me get another job and they did all they could to destroy my life just for declining to be among their evil deeds. haven’t given up i kept searching for job online when i came across the testimony of a lady called Judith regarding how she got the blank ATM card. Due to my present state, i had to get in touch with Hacker called OSCAR WHITE of oscarwhitehackersworld@gmail.com and he told me the procedures and along with the terms which i agreed to abide and i was told that the Blank card will be deliver to me without any further delay and i hold on to his words and to my greatest surprise, i received an ATM card worth $4.5 million USD , All Thanks to OSCAR WHITE , if you are facing any financial problem contact him asap email address is oscarwhitehackersworld@gmail.com or whats-app +1(323)-362-2310

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  13. This card are real i got my card few hours ago and am just coming back from the ATM where i made my first withdraw of $4500, i am going crazy this is fucking real OSCAR WHITE sorry for being so skeptical about it at first don’t blame me the street these days got fucked up lots of scammers and now i can recommend whoever needs a blank ATM card with about $50,000,000.00 on it which you can withdraw within a month because the card has a daily limit.if you are facing any financial problem contact him asap email address is oscarwhitehackersworld@gmail.com ,whats-app +1(209)-643-1515

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