Got the same feedback from my network of friends, that is, worsening business results in Singapore and poor future outlook in 2013. Sold off Wilmar and bought more stocks of Singapore Press Holdings (SPH) as a pure defensive play. I like the SPH management diversification strategy into Retail Mall management with their investment into Clementi Mall and Selatar Mall. Printing of money by US (QE3) will not heal the underlying rotting fundamental of the world's biggest economy.
Also took additional punt on Macquire Infrastructure Fund (MIIF). The board of directors have appointed a financial advisor to look into measures to unlock the value which is firmly undervalued by the market despite various rounds of share buy back. I hope to have a return of excess cash from MIIF as they have not been able to find a M&A target since the last round of fund raising. Hoarding onto huge pile of cash is detrimental to not just the company but also all investors due to high inflation eroding the value. Other possible financial plan may involve selling off of assets to realise the intrinsic value.
Allocation of S$217K:
No comments:
Post a Comment