This will be a short update to the latest portfolio as I've recently added 1,500 shares of HK Land at a price of US$5.95. For the benefit of those who had never of HK Land, they are one of the top 5 STI constituent in terms of market capitalization and a conglomerate which develops and manages commercial and residential properties across the globe - China, Singapore, Indonesia, Hongkong. Since they are a conglomerate with various businesses in many different countries, it is very difficult to value each of them accordingly, so I will be using a similar strategy to how I similarly did for Ho Bee recently. In my last article (here), I've highlighted the main difference in the business model between Reits and developers. Obviously, we've seen very different fate in the market for Reits and developers over the recent years with many investors preferring Reits ......