This is my second consecutive coverage for the quarter for CCT which I am vested in. For the previous quarter, you can find them here. The trust reported their full year earnings this morning. CCT managed to record a 2.1% increase year on year on their distributable income, which translates into a 1.9% increase in DPU for the shareholders. The full year DPU came in at 8.62 cents (2H: 4.31 cents), which represents a yield of about 6.3% based on current price. Again, it is important to note that they have a CB outstanding maturity due in 2017 at $1.53 but so far they have been under the money. Portfolio occupancy remains strong at 97.1% (96.8% last year) this year which represents a strong foothold of the overall economy we have in Singapore.  If we take reference from past bear market scenario, ......