Recently the STI rallied quite a bit from 2700 to 2900 levels, in which I took the opportunity to re-balance and take partial profits on some of my positions like ARA which ran up from 1.01 to 1.40 this year as well as CCT & M1 which ran up significantly too. While scouting around for laggards (stocks that have not run up), FCL caught my attention. Its 2 year low is at 1.45 while its still currently trading around 1.50. At 30% discount to book along with a juicy dividend yield of 5.7%, valuations looks attractive. What I really like most about FCL is its stake in 4 different reits (FCT/FCOT/FHT/FLT) which covers 4 key segments Retail/Commercial/Hospitality/Industrial, this provides FCL with a solid base of recurring income. On the downside, FCL has a very limited free float of 12%. 88% of the shares are controlled ......