Half-Yearly Letter, Singapore Chapter
Half-Yearly Letter from CEO of Singapore Chapter, H2 2024
Dear Donors, Board of Directors, Members and Readers,
Just to introduce myself, I'm Joshua Heng, the current CEO of Z Club's Singapore Chapter! We've had a truly exciting and memorable period so far this year, and we've got lots of updates we're excited to share.
Membership
We recently just admitted our newest batch of members this year, and the statistics are mind-boggling. We currently have 157 active members and 66 alumni! This means in total, we have over 200 members. A strong club, getting stronger.
Reorganisation of Structure
Z Club is now re-organized into two chapters: Singapore Chapter and China Chapter. The Singapore Chapter is larger with 83 members, but the China Chapter also has 44 members.
Don't worry, VIP and EIP still exists, just under the respective chapters (though China Chapter doesn't have EIP).
Portfolio Updates
Lastly, here are the key portfolio highlights from this half year:
Sony, Spotify and Nintendo have hit their respective target prices and the club is deciding whether or not to exit these positions or revise the target prices and allowing the stocks to run their course.
Nintendo's Switch 2 has still been a key discussion point for the evaluation of its stock price, which will be under consideration as Nintendo's stock has a history of booming on its new product launches.
We will be revising the existing portfolios and allocating capital to new positions with the new members' initiation reports coming in, as we expect more exciting businesses to be analysed and invested into!
Events
Our MTIs have been active and on-going, and our members are extremely passionate in asking and probing questions to leaders in the industry, such as Alix Pasquet, Daniel Guo and Sean Quek.
Varsity Program
We are also in the midst of launching a new program for the members, a small group of exceptional investors that Shinya will help navigate in their paths of investing. Of course, time and effort is needed to stay on the program, and it's not for tire-kickers!
Requirements and Details
Initial Memos - 6-8 a year
Exclusive MTI - at least 10 times a year
Special access to the project-based analyst program or internship
Potential in-person manager meetings in Shanghai, Beijing, HK and Singapore
Portfolio Updates
We've also recently received a new wave of interesting stock memos on fantastic businesses across the world, from places like Kazakhstan to the S&P500. Our portfolio managers are keen on reviewing the new set of stock to add to our portfolio listed below.
To date, our best performing stock, Spotify, yielded a 192% return since it's inception back in late 2023. We are thinking of liquidating the stock, up to Siva, our PM's discretion
On EIP's side, Alphabet has also been performing well, and the stock has yielded a 16.6% returned to date
As the new wave of stocks are coming in, and with cash on hand in the respective accounts, we will be reviewing and entering new positions in the market, so the portfolio is expected to increase further!
Closing Remarks
Overall, it has been such a memorable second half of the year. We're looking forward to creating a greater impact and more memories together as a club.
Till next time!
Best regards,
Joshua Heng
Singapore Chapter CEO