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Largest investments updated (4Q 2022.)

Saturday, January 14, 2023

It feels like I have been publishing many of such blogs in recent months.

It means that I have not been as lazy as I would have liked to be as an investor.

Chinese drama lead would say "my life is so bitter" while adding a little cry at the end.

AK so drama.

Anyway, what has changed?

The current list of largest investments in my portfolio looks like this:

$500,000 or more:

For a very long time, it was just the CPF.

Long time regular readers of my blog know that I think it is important to have risk free and volatility free CPF in our portfolio.

We would truly appreciate this in severe bear markets.

Now, my CPF is lonely no more as OCBC has joined the highest bracket in my portfolio's largest investments club.

I added to my investment in OCBC during the COVID 19 pandemic and then again in 1H 2022 with some of the funds raised from reducing my exposure to Centurion Corp.

Then, in 2H 2022, I increased my enlarged investment in OCBC again by some 11% as I used the funds raised from reducing exposure to ComfortDelgro to add to my positions in both OCBC and UOB.

With a higher stock price today, the market value of my investment in OCBC breezes past the $500,000 mark.

$350,000 to $499,999:
1. IREIT Global

In my last passive income update, I revealed that IREIT Global has become my largest investment in the REIT universe.

AA REIT has been dethroned.

I won't rehash. 

I will instead include a hyperlink to the blog on my full year 2022 passive income if you want to find out more.

All references at the end of this blog.

$200,000 to $349,999:
1. DBS
2. UOB
3. Wilmar International

In this category, DBS and UOB are both very close to the top.

I only started investing in UOB during the COVID 19 pandemic induced bear market.

I accumulated a relatively large number of shares in UOB within a very short span of time then.

In 2H 2022, I further increased my investment in UOB by some 19% using some of the funds raised from reducing my investment in ComfortDelgro.

Since then, the share price of UOB has increased some 15% which is both a good and a bad thing.

Why a bad thing?

I wasn't quite done with my plan to buy more of UOB's common stock.

What to do?

It is what it is.

Without any further effort on my part, it is possible that my investments in DBS and UOB could make their way to the next highest bracket in future.

I say this as the banks should see their intrinsic value increasing over time as they retain more earnings.

Of course, as an investor for income, that isn't my primary motivation but it is icing on the cake.

Wilmar International is still very undervalued if we look at the sum of its parts.

Mr. Market seems to be constantly mispricing Wilmar International. 

However, I am quite happy to be paid while I wait for more value to be unlocked.

Still, it is anyone's guess how long it will take for more value to be unlocked.


$100,000 to $199,999:
1. ComfortDelgro 
2. Sabana REIT
3. Capitaland China Trust
4. Frasers Logistics Trust
5. SSBs and T-bills

ComfortDelgro has joined this bracket after I trimmed my position.

Of course, ComfortDelgro's weaker stock price does not help its position in the portfolio.

Finally, I wondered whether to include bonds in this update but since I have already included my CPF, I decided to do it.

In 4Q 2022, I moved more than $100,000 into Singapore Savings Bonds (SSB) and treasury bills (T-bills.)

The aim is to continue growing the fixed income component in my portfolio. 

Of course, this is something which I have been doing in the last few years on my own steam through voluntary contributions to my CPF account.

Feels a little crowded now in this lowest bracket.

Things I have done to my investment portfolio in 2022 have delivered positive results on the passive income front. 

They have also probably helped to protect the value of my investment portfolio.

I am hopeful that these largest investments will continue to bring home the bacon in 2023.

1. Full year 2022 passive income.
2. More than $1.1 million in CPF.
3. Largest investments (2Q 2022.)
Recently published:
T-bills and my investor profile.


KC said...

Dear AK.

Thanks for talking to yourself and wishing you health and prosperity in the year ahead.

Yv said...

Hi AK,

OMG, I am a decade younger but invest like an old lady. My largest three are CPF, annuities/insurance savings and SSB/Tbills. Then the shares in banks.

AK71 said...

Hi KC,

Just talking to myself, as usual. ;)

Wishing you good health and may you huat big in 2023! :D

AK71 said...

Hi Yv,

I think this is the first time you have told me your age. ;)

For sure, being 10 years younger, you can take on more risk and volatility than me in exchange for potential higher returns.

Time is on your side. :)

I also have some endowment and whole life policies which I bought in my younger days when I was an absolute "know nothing investor."

To be fair, not everyone has to invest in equities in order to achieve financial freedom.

There are successful business owners and professional high fliers who make so much money in their businesses and careers that they just need to be better savers to grow their wealth.

Unfortunately, I am neither hardworking nor smart enough.

So, here I am still plodding along. (TmT)

Dividend Tech Warrior said...

Hi AK,

Happy New Year, my old friend! :)

I agree with you that CPF should be part of our retirement planning. I treat it as my 'last line of defence'. Also using it to buy my BTO flat.


AK71 said...

Hi DW,

I am making a guess that you are DW since you called me "old friend."

"Old friend" as in we have known each other for a long time and not due to my age, I hope. ;p

You have a new blogger profile and a spiffy looking logo too. :D

How have you been?

Yes, having CPF savings that can make a difference is important.

It is your "last line of defense" and my "ultimate safety net."

Different words but same same.

Congratulations on your BTO flat and Happy New Year! :D

Sillyinvestor said...

Hi AK,

long time no chat... Happy new year, have been following your post yet too lazy to post hahha..

I can see you are enjoying yourself. hope you have a great year ahead. In your previous post, you mentioned about why you blog, just like to say that you motivated me to start my blog, and the earlier traffic were directed from yours hahaha...

Then I said I am afraid to be talking to myself when I blog.

After a decade, I blog to record my feelings and mainly to talk to myself. straight how things go in cycle and when different at the same spots. Of course, I also enjoy saying some comments.

Enough of my blabbering, Comfort Delgor has fallen quite a bit, I am slowly accumulating over a period of time, so are you ?

Wishing you good health and wealth...
SIlly Investor and perhaps just a silly person too

AK71 said...

Hi Mike,

Happy New Year! :D

Long time no chat indeed!

Blogging for 10 years already? Congratulations!

Times does fly.

As for me, yes, I still enjoy blogging or I wouldn't be doing it.

It is the way I operate in retirement and that is if I don't enjoy something, I don't do it. ;p

Sounds spoilt, I know. :)

Only exceptions are things related to my family which I feel are duties.

I don't know if you read in the blog that I reduced my investment in ComfortDelgro in 4Q 2022 or you missed it but it is a smaller investment for me now.

When its stock price bounced up to test resistance, I lightened my position.

Technically, its stock price looks like it could go lower and I am watching $1.15 at this point.

The main reason why I was not as aggressive in reducing my investment in ComfortDelgro compared to Centurion Corp. is its relatively strong balance sheet.

Hope they don't squander it.

You are far from being silly and I have always enjoyed exchanging comments with you. :)

Wishing you good health and abundant wealth too. :D

Sillyinvestor said...

Hey AK,

Thanks for your kind words.

Haha.. regarding "spoilt", I think someone is spoilt if he wanted a more comfortable life when he cannot afford it and cause burden to others

U have tradeoff a lot of good stuff in your younger days to be spoilt for chocies now, so u are not soikt in my definition

As long as we are happy, without causing harm to others, who cares

Oh...caregiving is tough. I being thro it , both my parents have passed away, I would t say I have provided the best of care, but I am sure I have not reflect my duties. With money, there are more options for care too.

AK71 said...

Hi Mike,

I didn't mean to be kind. Just being honest. :)

Oh, I know what you mean.

I try to be a good son too but we are all imperfect human beings.

Fortunately, I am a rather forgiving person especially towards myself. ;p

Hindsight is perfect but it can also be painful.

Try not to think too much especially when the things don't really matter anymore or else we will go crazy.

OMG! I forgot I am a mental patient. I am already crazy. ;p

Now, I am mostly providing my parents financial support but, one day, I am sure I would have to do much more.

Then, I wouldn't have as much time for gaming and blogging.

Thinking about it gives me an anxiety attack and, so, I shan't. -.-"

Happy thoughts, please.

Sending positive vibes to all of us. :D

Inflation, passive income and updating my budget.

ThE AvErAgE SiNGaPoReAn MaLe said...

Dear AK, I have enjoyed and am enjoying reading your blogs. Happy New Year to you!

AK71 said...


Thank you so much for letting me know! :D

Makes me happy to know that talking to myself has been good for you too. ;)

Happy New Year! :)

AK71 said...

Hi getrichinfo,

Thanks for the offer of a paid collaboration.

I haven't done any paid collaboration in many years except for one which I still do yearly for some friends.

I am inclined to keep the status quo for now.

Thanks again for the offer and Happy New Year.

GlobalPassiveIncome said...

Thanks for sharing.. You are such an inspiration ..

AK71 said...


I am glad that talking to myself has inspired you. :D

If more readers are inspired, year after year, I am a contented blogger. :)

AK71 said...

"AIMS Apac Reit’s distribution per unit (DPU) rose 10.2 per cent to S$0.0259 for the third quarter ended Dec 31, 2022, from S$0.0235 a year ago."

Business Times
Jan. 24, 2023.

C said...


I last bought some IREIT Global at $0.555, 200D average says downtrend, but stock price keeps going up. My average price is 0.55. Wonder if worthwhile to average up?

Likewise OCBC stock price is like a rocket, think I have missed the boat to buy it around $12.10- 12.20. My average price at $12.

Would these 2 counter got a potential correction coming up ? Need a mental self talk from you, thank you.

AK71 said...

Hi C,

I have to leave home in a bit.

I will look at their charts when I come back in a few hours.

Maybe, I will publish a blog in reply this afternoon. :)

C said...

Thank you AK :)

AK71 said...

Hi C,

I just got home an hour or so ago.

Also, just posted relatively long replies to two readers, Garudadri and Ted, in my blog on bankruptcies and property auctions.

Will look at OCBC and IREIT Global now.

Blog in reply to your question coming soon. :)

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