My “ Rojak & Kia-su ” Portfolio



“ Scripophilist or Karung Guni “



According to “ The Free Dictionary “ , Scripophilist is a person who collect expired or antique bond and stocks certificates. These certificates can be valuable to the study of economic history and often have value themselves as collectibles.



Nowadays , we do not have chance to see and hold such scrip as all share certificate are being placed under the custody of CDP and we are only getting the stocks holding summary from CDP from time to time. But base on below , we may have chance if a company ceases to be listed on SGX.   ;P

Below quoted from SGX’s announcement :


The Central Depository (“CDP”) serves as the depository for shares of Singapore Exchange (“SGX”) listed companies.  It in turn, holds 'jumbo' share certificate/s issued by the share registrar of the listed company.  When a company ceases to be listed on SGX, the CDP returns the 'jumbo' certificate to the Registrar as instructed by the company.  The CDP sends to each shareholder in its records, a notification letter showing the number of his/her shares that have been returned to the Registrar for the issuance of share certificate as a result of the company’s delisting.  In addition, a month-end statement is also sent out to reflect the movement in the shareholder's securities account.  The company is required by law to issue share certificates in the name of their shareholders within two weeks.  



“ Karung guni : By Wikipedia “  :



The practice of Karung guni is common in Singapore. Its practitioners are a modern form of rag and bone men that visit residences door-to-door. They can either walk along corridors (if that particular HDB estate has a covered carpark) or for certain HDB estates where the carpark is right under the HDB blocks, walk through the carpark downstairs honking a horn. However, around landed properties, they may drive around in a lorry with a horn attached to it, instead of going door-to-door. They make visits in carts, collecting old newspapers and other unwanted items. 
These will be resold at specialized markets and eventually recycled or reused. "Karung guni" is a Malay phrase for gunny sack, which was used in the past to hold the newspapers. The karung guni men would haul the heavy sacks on their backs as they walked their rounds to do the collection. Today, most of them use a hand truck instead.
These people can be distinguished by their use of horns or (rarely) hand bell and shouts of "karung guni, poh zhua gu sa kor, pai leh-lio, dian si ki..." ("Rag and bone, newspapers and old clothes, spoilt radios, televisions" in Singlish and Hokkien) when making their rounds. Depending on the person, a nominal fee is paid for the quantity of newspapers or unwanted items sold.
The karung guni industry is made highly profitable due to the dense urban nature of Singapore, where hundreds of public housing Housing Development Board apartment units are located in one block, with often a dozen blocks in each housing estate. This gives the karung guni men large access to sources of scrap. There are reported stories of rag-to-riches, karung guni men who have become millionaires just from the karung guni business

Note :
Misspelling
The phrase "karung guni" is often misspelt as "karang guni". This is incorrect as "karang" as in "batu karang" is the Malay word for coral, "karang" itself means "to compose", whereas "karung" means sack or bag.


Of course, I am not a ““ Scripophilist or Karung Guni “ but just an investor who like collect and accumulate stocks ! 









My “ Rojak & Kia-su “ Portfolio








 Remark of disclaimer :This portfolio is just for illustration purpose and not to imply a recommendation or solicitation to buy or sell a particular stock.

Since this is a very “diversify and kia-su” type of portfolio , even with a “multibagger” stock in it , there will not be much impact on overall return of the portfolio value and same apply to “failure or kapuk” of any stocks , it will also not affecting my portfolio much. You may notice that none of the counter exceeded 10% of total portfolio value .

Why I called it a “ Rojak “ portfolio is because you may notice that I have mixture of counters from income stocks ( like REIT / Biz Trust ) , Telco , Bank , Conglomerate , Property developer, Electronics etc.. But still, mainly are those REIT which I have collected since GFC ,,, remembered in my previous blog post , I did mentioned that I am so “ lucky “ that I am able to collect  most of the REIT at very low price and with double digit Dividend yield ..this is due to the right timing that I am having spare cash after disposing my Malaysia share  while changing my citizenship prior GFC .


My previous post on " Skill vs Luck in Investing "

https://stestocksinvestingjourney.blogspot.sg/2016/07/skill-vs-luck-in-investing.html


AS this portfolio is also very much “ skew “ towards income stock and very “ interest rate sensitive “ ,, the value has came down much in 2015 when FED started to tighten the rate curve . You may refer to my below blog post for more detail :





Since I did not dispose of the share holding during that time , it was just a “paper loss” and has recouped some of the losses so far in 2016. Sometimes is ok to see the portfolio value down in certain period of time but just need to remember that market "move in cycle " and "mean reverting " eventually , so long as the company you are invested does not go " kapuk ".

My portfolio yield is around 7.2 % due to highly concentration on REIT/ Biz Trust / Telco and I’m sure the dividend pay out from these counters will be much lower in coming quarters due to over-supply and some other factors. 

A “ margin of safety “  is also required if one are just depending on passive income from dividend to meet their monthly expenses and be ready to face situation of further dividend cut from these company. Question need to be asked like “ Will I be still ok if there is another 40-50% cut in my future dividend to be received ? “ must be considered as “stress test “ for individual investor.



Everyone may have their own need and desire in their portfolio construction, my portfolio may not suit those young and aggressive but it suit me well.



Cheers !!




Happy Investing and building your own Profitable & Sustainable 
Portfolio !




Further reading : Steps to building a Profitable Portfolio “










The funniest thing about market is that all the past "crashes " are viewed as "Opportunity ", but all current and future "crashes " are viewed as RISK … by The Motley Fool

Comments

  1. Hmm 7.2 % yield for a reit/trust plus companies type of portfolio is not bad at all.

    Some must have been bought cheap.

    I assume your yield is yield at cost?

    If it yield at portfolio value, then it is even more impressive

    ReplyDelete
  2. Hi SI,
    Thanks for the comment, FYI, the 7.2 % is actually yield at portfolio value ,,, as mentioned , some of my REIT bought during GFC which I'm still holding now and it gave double digit of yield on cost at current div level... Also, my portfolio is very much skew towards high yield stock and biz trust ,, and is very " interest rate sensitive " ..
    You may also notice that my dividend income shot up much in last qtr due to income received from Accordia ,,which is quite big in my portfolio ..
    Cheers !

    ReplyDelete
  3. Wow you have almost all of the REITs :O

    How did you decide to give more weightage to some stocks like Accordia and Keppel?

    ReplyDelete
    Replies
    1. Hi owq!
      Yah ! My portfolio is very much " skew" towards income stocks ..as highlight , most of them being " collected " during GFC that giving me very good yield at cost now,,
      As for Accordia vs Keppel, both are two very different kind of stock,, one may buy Accordia for yield but for Keppel may be expecting oil to rebound and some of their other biz,, since I m having too much " yield" counters now ,,giving chance to buy ,, I may choose growth or conglomerate counters to balance up my portfolio,,
      But at this point if time ,, I would rather keep more cash from my dividend as future " war chest "...
      Cheers!

      Delete
  4. Thks for sharing. How much is your cash level?

    ReplyDelete
    Replies
    1. Hi LKH,
      Thanks for the comment, my bond+cash around 28% ,,,hope to accumulate more shirt term bond and cash in coming qtr..
      Cheers

      Delete
  5. Hi STE

    Impressive cashflow there.

    It's really an opportune time to get these at double digit yield cost and once after that the rest is self explanatory.

    You must have been pumping more into Keppel and SCI recently due to their weakness. Hope it pays off over time :)

    ReplyDelete
    Replies
    1. Hi B,
      Thanks for the comment, Yah! I would like to take Keppel n SCI at different view points. .it may take very long time to recover or reverting to mean..I might be wrong as if may not happen. ..but my total exposure will be capped at certain level. .
      Cheers!

      Delete
    2. Hi B,
      Thanks for the comment, Yah! I would like to take Keppel n SCI at different view points. .it may take very long time to recover or reverting to mean..I might be wrong as if may not happen. ..but my total exposure will be capped at certain level. .
      Cheers!

      Delete
  6. STE,

    Thanks! I've spelt Karang Guni wrong ;)

    Correct it at my post ;)

    ReplyDelete
    Replies
    1. Hi SMOL!
      Haha. .not my intention. .I just quoted it from Wikipedia. .😆😆
      Cheers! :P

      Delete
  7. STE,

    Impressive portfolio. If I will to list out all my counters, it will be more rojak or kiasu than this.

    Cheers to the Rojak & Kiasu style of investing. Gambatte!

    ReplyDelete
    Replies
    1. Hi Sanye!
      Yah. .we have kind of same hobby. .ppl collecting stamps. .we collect share. Haha. .in fact. .I really like to eat " Rojak "
      Cheers! !:P

      Delete
  8. Imo,Changing citizenship is the best investment u had made :)

    ReplyDelete
    Replies
    1. Hi Dividend Town ,
      Yah ! Indeed !! " Majulah Singapura ". :)
      Cheers !

      Delete

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