Sector Picks Underweight 1) International Travel Related (Pretty Straightforward) -Given how each area will still take some time to recover from Covid 19, it is rather unlikely there will be any large amount of travelling across boundaries any time soon. -Not a fan of SATS because i believe that this year there is unlikely any dividend and there is always a chance recovery will be longer than what everyone thinks.(Given by how volatile the 1st half of the year is) 2) Brick and Mortar Retail (Pretty Straightforward again) -Shift in Consumption patterns and preferences. Acceleration of online purchases. 3) Singapore Oil and Gas -Not worth a bet on until at least break even is seen in companies like Sembcorp Marine -Recent rights issue although indicate confidence in the company, does not mean that business will turnaround. In fact a major player needs to do rights should ring some bells towards the smaller cap players and those in the value...