Divested UMS, not because i lost faith in its narrative, but rather that I need some cash (moved into new house, did renovations & planning holidays end of year =P)
Hence I rationalised amongst all my current holdings and decided that moving forward, the one with the narrowest economic moat is likely to be UMS.
However, at the same time, I recycled some of these freed up capital into SembCorp Industries, initiating a small position. Thought the market is overly pessimistic on SCI, driving it down to 4.50+... A blue chip with a reasonably wide moat, ROE 15%, stable earnings and a bright future with overseas growth potential. Currently trading at close to 10x earnings, there seem to be a big enough margin of safety to go in.
Now, my stock portfolio consist of:
1. China Merchant Pacific
2. Naratel
3. TTJ
4. Hock Lian Seng
5. Sports Toto
6. Old Town
7. Kingsmen Creative
8. Saizen REIT
9. Fraser Centrepoint Trust
10. SembCorp Industries
No comments:
Post a Comment