This is an update to my Singapore Stock Portfolio for the Month end of September 2011.

Just made some minor changes to the Portfolio, initiated Long position on CDL Hospitality and Lippo Malls. Also added more positions to Ascendas, Ascott, Keppel Green, Mapletree Industrial, Mapletree Logistics and Starhill Global at value prices.

CDL Hospitality – Price went below NAV last month of $1.49 per share. Current dividend yield stands at 7.7% and thus initiated Long position. CDL primarily operates hotels and residences in Singapore, Australia and New Zealand. Given the Singapore’s continuous drive on developing world class tourism, CDL is likely to be a huge beneficiary in the long run. The economic downturn presents a good opportunity to purchase CDL below NAV. However, dividend may drop as the tourist industry is likely to follow the economy.  Buy for future yields and growth.