300 tantengbooTan Teng Boo, 61: A well-regarded investor. NextInsight file photo.Hotshot fund manager Tan Teng Boo has a very gloomy outlook on equities. He says so in an interview published in the current edition of The Edge Singapore.

That's why his Singapore-registered iCapital Global Fund is sitting on 80% cash.

And Mr Tan, 61, the MD of Capital Dynamics Asset Management in Malaysia, has no interest in touching blue-chips which have fallen because of the global oil price crisis.

He says: "In Singapore, there are quite a number of cheap stocks. But they are cheap for a good reason. For rig builder Keppel Corp and Sembcorp Industries, I wouldn't want to touch these stocks. I bought Keppel in March 2009 at $4 a share. The stock is going to hit $4 very soon. But now, I wouldn't even buy it when it is trading at $4 because the economics of its business has changed. And for the longer term, it is not attractive."

Still, there is at least one Singapore-listed stock he has some love for -- China New Town Development.

The stock once traded at more than 60 cents in 2008 but now is going for about four cents. 

"We are looking at China New Town Development. I am interested in it because it is not the usual property developer in China. It is more of a township developer. The company is not building on vacant land but is more of a redeveloper (that implements) policies of the Chinese government. If the local government has a shanty town and wants to redevelop it, it will partner China New Town Development," says Mr Tan.

At four cents, the stock has reached a major support line, which was established in 2011, according to Mr Tan's technical analysis team, which has a 'buy' recommendation on this counter and a target price of nine cents. 


For the full two-page article by Kelvin Tan, buy The Edge for $5 at the newsstands.


See also: CHINA NEW TOWN DEVELOPMENT: Key China bank to subscribe for 51% stake


Comments  

-1 #1 NYang 2016-02-22 10:55
Mr Tan won't touch Keppel even at $4? I will -- definitely. Thank you for giving me the opportunity!
Quote

Share Prices

Counter NameLastChange
AEM Holdings3.7300.030
Avi-Tech Electronics0.280-
Best World1.760-
Broadway Ind0.120-
China Sunsine0.4000.005
DISA0.003-
Food Empire0.630-0.010
Fortress Minerals0.370-0.005
Geo Energy Res0.350-0.005
Golden Energy0.790-0.005
GSS Energy0.048-
InnoTek0.4800.020
ISDN Holdings0.400-
ISOTeam0.090-
IX Biopharma0.124-0.001
Jiutian Chemical0.0810.001
KSH Holdings0.350-
Leader Env0.056-
Medtecs Intl0.134-0.002
Meta Health0.025-
Nordic Group0.4700.005
Oxley Holdings0.1540.003
REX International0.2300.005
Riverstone0.620-0.005
Sinostar PEC0.185-
Southern Alliance Mining0.4200.010
Straco Corp.0.4050.010
Sunpower Group0.275-
The Trendlines0.0940.002
Totm Technologies0.099-0.003
UG Healthcare0.189-0.001
Uni-Asia Group0.8200.010
Wilmar Intl4.020-0.030
Yangzijiang Shipbldg1.350-0.030

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 910 guests and no members online