In a surprise of a surprise, it took me till after CNY to actually have some changes to the portfolio albeit all of it came from the HK Side.
Divested Medialink Group Limited
Medialink Group Limited did very well in 2023, up by almost 30% as compared to the index which is up 9.4% (As of 3 Feb). This came after news that The First Slam Dunk has done very well in Hong Kong and Taiwan, 2 areas which it distributes the movie.
I find the success of the movie not a surprise at all, given that it was heavily promoted in Hong Kong and Taiwan as well as Slam Dunk being an anime that even a person that does not watch much anime like myself also know as i have seen it on channel 8 when i was young.
In fact, the management's ability to secure the distribution rights to Taiwan and Hong Kong has to be muchly accredited. Taiwan is a country which likes 2 sports the most, namely baseball and basketball.
Why did i sell out of the company?
Well i feel that it has run up by quite a lot and it did not deserve a rapid share price increase as market cap has went up by 30 million HKD. Even though the movie gross revenue is around 110 million HKD or maybe slightly higher, the company has to also pay to acquire the rights and give a cut to the cinemas as well as incur promotional cost (e.g promoting the movie at 桃园跨年 as well as inviting some basketballers to go watch the show)
All in all, the company if it retraces back to my buying level, will tempt me back into buying it because of the solid management and their track record.
Justin Allen Holdings (Hkex: 1425) - Mentioned before in 1 of my previous blog post,
Town Ray Holdings (Hkex: 1692) - Coffee Machine ODM/OEM Business is something interesting and just a purchase to see if they can continue to do well in this segment.Miramar Hotel and Investment Co Ltd (Hkex: 71) - Had some spare cash left over as i did not fill my town ray holdings fully and as such just bought a small amount due to some idle cash left in the brokerage account.
All in all i have not decided on how long i will hold any of them.
If i had to rate my purchases based on 0 to 10 where 0 is no go based on my valuations to 10 is a must buy. Then the ratings are as such
Justin Allen 6/10
Town Ray Holdings 5.5/10
Miramar Hotel 8/10 if you do not intend to beat and index or any bloggers or any pro investors in terms of returns for 2023. 1/10 if you intend to multibag or beat the index or any competition. It falls in almost the same category as Haw Par in SGX. Though if anyone wants to see or hear a more detailed breakdown of this company, can always leave a comment below or let me know.
Overall returns from Medialink Group is 45% as average price is 0.137 while my average sale price is 0.194. This is inclusive of a dividend of 0.007. Considering HSI returned around 9% since my first purchase, i guess this should be somewhat acceptable.
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