Disclaimer: This article constitutes the author’s personal views only and is for entertainment purposes only. It is not to be construed as financial advice in any shape or form. Please do your own research and seek your own advice from a qualified financial advisor. From time to time, the author may hold positions in the below-mentioned stocks consistent with the views and opinions expressed in this article. I have positions in all of the below stocks at the time of publishing this article. This is a disclosure - not recommendations to buy or sell stocks.

Portfolio update

The portfolio is up +7.8% over the past month and now +9.8% since its inception last October.

The largest positions performed nicely. Jardine C&C, CNOOC and Multi Bintang all went on nice runs.

I sold my entire position in Jardine C&C after it came close to what I consider to be its intrinsic value. It would never be a long-term holding since I have feared a future capital raise. Subsidiary Astra is firing on all cylinders, though, and I expect Jardine C&C fundamentals to continue to improve in the near term.

I sat on the cash from the sale of Jardine C&C for two weeks before accumulating more shares in Delfi and United Plantations.

I also initiated a new position in T. Hasegawa, a Japanese flavours and fragrances company that I first wrote about here:

Deep-dive 2022-8: T. Hasegawa

Japanese leading flavours & fragrances specialist at a discount to global peers

Asian Century StocksMichael Fritzell

Here is the portfolio as it stands today, 31 May 2022. The cash balance is 3.6% and is held in US Dollars, Singapore Dollars, Malaysian Ringgit and Indonesian Rupiah after recent dividend payments from stocks listed in those currencies.