My Portfolio at the end of 2015

the holdings has little change during the year, just lowering my position on glove companies and invest some portion of fund into Padini.

AirAsia is the main drag factor to the portfolio, its value had been halved during the year. On the other hand, performances of Hartalega, Pwroot and Takaful were well above my expectation.


Investment return of my portfolio during 2015 was about 21.7% p.a., much better than KLCI.

Padini Holding Bhd

Bougth 10,000 units of Padini recently at RM1.39 (equivalent to PE ~10 or DY ~7%).





Summary:

• Revenue and Profit CAGR ~13% during past five years.
• ROAE maintained above 20% for many years.
• high dividend yield. 
• net cash position.

During past few years, the company had been gradually switching its weight from single-brand outlets towards multi-brand stores, and had been gaining success with this strategy. I'm in opinion that the growing momentum of its Padini Concept Stores and Brand Outlets network will continue to drive the revenue in double-digit growth for the next few years.

 x x x

Investment in Padini currently weight ~5% in my portfolio.

Target return rate: 15~20% p.a. (including dividend)
Target holding period: 3 ~ 5years.

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Lowering Position in Gloves

Sold all my holdings on Supermax, Kossan, and part of Hartalega recently.

Glove-companies are still one of my favorite investment. The main reason of selling is to further diversify my portfolio into other businesses. After this sale, the weight of glove-companies in my portfolio has drop from previously ~25% to about 14% now.

My Portfolio at the end of 2014.

The holdings are exactly same as previous year. There's no selling/buying, or any newly-injected fund during the whole year.

The best performers in the portfolio are AirAsia and CBIP, both had been gaining more than 20% in value. While the share prices of Supermx, Pwroot, AeonCr, PPB and DLady had experienced some fall during the year, I believe that their fundamentals are still good, and may perform better in coming years.


The investment return of my portfolio during 2014 was about 1.3% p.a., slightly better than KLCI's performance.

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My Portfolio at the end of 2013.

Activities during the year:

• new fund: RM 72k.
• stocks sold: all the "value-stocks",  XDL, Notion, TSH.
• decrease holdings: PwRoot (sold half of it).
• increase holdings: PPB, AirAsia.
• new investment: LPI, Supermx, CBIP, DLady, Takaful, UoaDev, AeonCr.

The share price of glove companies had experienced a sharp hike during this year. I'm in opinion that these companies were undergoing a revaluation by the market -- thus we saw PE ratio of Hartalega and Kossan had been rising to above 20 during the year, and I think Supermx will be catching up soon.

While the falling share prices of AirAsia and UoaDev were a bit disappointed, the good performances of PwRoot, PPB, TSH, Takaful and LPI were well above my expectation.

The investment return of my portfolio during 2013 was about 33% p.a., much higher than KLCI's performance.

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