Tuesday 17 October 2023

October 2023 Portfolio Update: Realised Losses on Country Garden

An update: Given the worsening in China's real estate and especially for Country Garden, I have decided to take realised losses on half of my Country Garden stake. 

It has turned to be a poor decision, thinking that the repayment of August's debt meant things was resolved. It seems Country Garden will be hanging on month to month given the worsening economic condition in the real estate sector with declining home sales to augument its cash inflow.

Added only 2,000 Kep Pacific Oak REIT shares which experienced had a drop in price (due to the presence of low cost stock brokers with no minimum commission, small time investors are able to purchase or sell small lots, a shout out to thank Tiger Brokers for this).

Next, I purchased 200 Alibaba HK shares given there is another movement down in share prices due to news of more chip restrictions by USA on China. Nevertheless, these 200 shares are more for trading purposes and will be sold off when Alibaba hits HK$95-100. There is a trend where Alibaba shares are trading range bound between HK$80-HK$100.

Meanwhile I too have sold off a portion of my Sea shares to lock in gains. However, the investment thesis of Sea remains and it is on its way of turning its e commerce into a cash cow just like what Taobao and Tmall is to Alibaba. The current situtation where Tiktok shop is banned in Indonesia is a chance for Sea Group to grow GMV and convert it into generated cash to add to its growing cash hoard. Below is a snapshot of my current portfolio position:

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