Bought FRASERS PROPERTY Sold AIMS APAC REIT
The rally continues into April and STI has reached closed to 3,400 points which is around 6% increase for the month and 13% increase for the year. It is harder to enter the market during a rally as most of the stocks would seem overprice. Luckily, I managed to picked up Frasers Property after the news that they acquired PGIM Real Estate AsiaRetail Fund. But this was not the news which caused to the price to rally. The news that really caused Frasers Property to gain attention was that they are in talks to sell Fraser Tower even though the sale has not been confirmed.
I decided to sell AIMS APAC REIT in April to reduce risk exposure in the event of CWT meltdown. CWT International has defaulted on its loans and it is unclear what would happen