I actually picked up Ascendas REIT in the middle of December when they announced the preferential offer for units, but their offer was only launched in early January, with the offering results available in the middle of January. With the weak sentiment in the market, I managed to pick up Ascendas REIT cheaply for about $4 cheaper than subscribing to the preferential offer. However, given that it’s an STI component stock, and thus a highly liquid counter, I won’t be able to build a margin of safety quickly. On the upside however, it is a blue chip, so I can take my time in slowly building my portfolio allocation for this counter. Well, so much for the first cash call for the year – I will await for opportunities to enter into unloved counters and hold them tight, and hopefully, no more cash calls this year....