STI was sold down to 3150 in June 2013. It was another bad month for investors as markets are worried about bad loans in the China banking system, in addition to the usual worry of interest rate hike. High yielding liquid stocks like REITs and stocks with exposure to China are targets of major sell down. Also, the haze and news of a contractor for MRT project being in financial stress had caused some of the construction stocks to be hit as well.

For this month, I have attended the following AGMs/EGMs/briefings - Chemical Industries, Rowsley, Ascendas India Trust, Transit-Mixed Concrete, Ascendas Hospitality Trust, F&N and A-REIT.

For my top 30 holdings, the major mover had been Guthrie GTS as the major shareholders made an offer to take the company private. United Engineers had been sold down as investors reacted to the news of its rights issue. Hiap ......