To be frank it has been a bad year for the portfolio. UMS, Propnex, TC Auto, Powermatic Data, Tuan Sing, China Sunsine all had a more than 5% drop in share price .
I feel compelled to make changes because of the poor returns. However, they are inside because i have some level of conviction. As such after carefully thinking about things as a whole, i have decided to make 1 change only.
Haw Par has been added into the portfolio. This came about as i was thinking about the conglomerate discount that was being talked about in Reborn Rich Drama.
Haw Par has enough cash to cover its liabilities and while it is not exactly Soonyang Group, we can never rule out chances of something of that happening in a fantasyland concept.
Anyway, balance sheet is strong, with a reputable brand of medicated oil, holding shares in a sector that is expected to do well in higher interest rate environment, coupled with a more than 10% drop in share price in 2022. Yup i think its ok to pick it up.