STI ended the month up at 3264 points. It had been a month of buyouts as companies with good asset backing had been a target of takeover offers and privatisation. The companies in question include CapitaMalls Asia, Hotel Properties, LCD Global Investments Ltd etc. This had led the market re-rating some of the stocks in this category which supported the market somewhat. There is also some speculation as to which company will be next in the list of buyout. The 3 local banks also reported their first quarter results which beat market expectation.

For this month, I have attended the following AGMs/EGMs/briefings - M1, MFS Tech, Cityneon, BH Global, CapitaMall Trust, Noble Group, CapitaRetail China Trust, IFS Capital, Koyo International, ITE Electric, Sing Investment & Finance, Intraco, Hwa Hong, CapitaLand, Hoe Leong, Ho Bee Land, ECS, Amara, Bonvests and Hotel Grand Central.

For my top 30 holdings, the main mover ......