Silverlake Axis: Due to the short seller report recently, I managed to get this at half price. Don't know who panic sold right after the counter resumed trading. I was so surprised when my lowball offer got through. Anyway, until I see customers fleeing from this company, I'll keep this counter. It's a small position so I think the risk tradeoff is worth it. Some of the points in the short sellers report are a bit suspect, although they seem to make sense at first glance. For example, I really don't believe that they have no version control. Maybe I'll go for an interview and grill them about it if I ever have to job hop.
Datuk Yvonne Chia seems to be a fan of the shares and has been buying them on dips. Goh Peng Ooi's daughter has also recently became a director. There are many positive signs but the related party transactions could still remain a vulnerability.
UOB: I was planning to buy OCBC but the UOB dip made it very attractive as the price is close to book value. NPL could still be a problem, especially in China region, but the exposure is not that big. This is more of a rebalance from the STI ETF. I bought the STI ETF when I first started because of a lack of capital for diversification, but now I can afford to buy the constituents themselves. There are many companies in the STI that I don't feel comfortable holding or are overvalued. For example, commodities companies which have low profit margins. Or SIA. I don't believe in airlines, because the barriers to entry are low and regulation is very strict.
Keppel: I'm mainly buying this for Keppel Land. I don't really like the O&M sector because of high capex and long dated receivables. But I do think their shipyards have a competitive advantage. They are also going to acquire another shipyard in China from Titan (subject to restructuring finalisation). If you can't beat the China shipyards, join them.
NeraTel: I was considering either SingTel or this but I prefer small caps because the growth rate could be higher.
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