Mar 25 Update

Purchases

SBS Transit: Bought a small stake at $2.65 in using SRS and CPF-OA

Its regular dividend has increased and at $2.65, the yield is 7.6%. In addition, it has lots of net cash in its balance sheet. The nature of its business (bus company in Singapore) is stable. Given the limited pool of stocks for SRS and CPF-OA, it's a suitable stock for my SRS and CPF-OA. 

Best Mart: Added to my minor stake. Buy price is $1.79

Added more, as it continues to provide >10% dividend, while limiting it's business to Hong Kong and Macau. 

Stella International: Bought a minor stake at $17.40.

I sold it earlier in January at $17.40. Now, I am buying it again, as its dividend (including special dividend) is close to 10%. It will be giving out special dividend of $0.56, likely for three years as part of its capital reduction plan. 

Yangzijiang Shipbuilding: Bought a minor stake at $2.39

Its share price has fallen from $3.30, after US wants to charge up to $1.5m for China ships entering US ports. As China shipbuilding is around 50% of global shipbuilding capacity, there's no way of avoiding such charges. 

Currently, Yangzijiang's order book is 6.5x of its annual revenue. As such, its near-term revenue is relatively secure. At current prices, it's trading at around 8x PE, with 5% dividend, >20% ROE and net cash in its balance sheet. 

Sales

Henlius: Sold all my position at $28

It's trading at higher than my sale price now. I sold it because it's trading at >70% higher than my cost price and I don't really understand the company well. It's safer to sell when the price is high. 

Booking: Sold half my position at $4,800

I decide to reduce position first, because there's increasing likelihood of US entering recession and travel will slow down during recession. I still like Booking and may buy it back at lower prices. 

Tianjin Development: Sold all my position (which is a minor stake) at $2.01 - $2.02

I sold it after its results release, because

-  I am disappointed with its low 28% dividend payout ratio when it has lots of net cash in it's balance sheet

- I want to increase my cash holdings / warchest, so that I can buy more US stocks if US market falls further. 

Yuexiu Services: Sold half my position at $2.92

I am slightly disappointed with its results and I want to increase my cash / holdings.

Current View

US market is in a downturn. I am waiting for US market to fall further, before buying those stocks in my watchlist (e.g. Booking, Alphabet).