Hardly known to most investors, UIS is a closed-end fund -- probably the only one -- listed on SGX.
It announced last Friday that it had received a request from a controlling shareholder -- UOB and UOB Holdings -- to convene an EGM to seek shareholders' approval to self-liquidate and return the net proceeds to shareholders.
That caused the stock to jump 27 cents, or 24%, to $1.395 -- which is a small discount to the latest NAV of $1.52.
UIS holds a diversified portfolio of equity and fixed income investments in Singapore, Malaysia, Indonesia, Philippines, Korea, Hong Kong, United States, Thailand, Australia, Japan, Germany, China, and others.
We got hold of the list of its Singapore stock investments, as shown here.
SembCorp Marine is the largest holding in absolute value (S$4,2 million as at end-June and $4.57 million as of last week).
But that's a tiny % of its market cap of $9.55 billion and its sale is unlikely to cause a signficant downturn in the stock price -- especially if the shares are sold gradually over a period of time.
That also applies to the rest of the holdings of which, interestingly, nearly 50% are REITs.
Non-dividend plays include two palm oil companies (Golden Agri and Indofood Agri) and Vard Holdings, which builds offshore support vessels used in the offshore oil and gas exploration and production and oil services industries.
UIS' holding of Vard has gone down in value to $860,000 (from $1.085 million in the above table), which is also a fraction of its market cap of S$1 billion.
For the full list of other investments of UIS, check out its interim report.
Featured recently on NextInsight, Morph Investments is among the big shareholders of UIS. See: .MORPH: A successful value fund manager you haven't heard of
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