With the run up of ISDN, I have moved it to purchasing stocks in Ho Bee Land and SIIC Environment. Ho Bee Purchase The decision to purchase Ho Bee is more of a defensive position as the company has a strong recurring cashflow rental of about $190 million to support its expected annual 10 cents yield. At the price of $2.42, the dividend yield is about 4+% which is decent. Market analysts are alluding to a possible monetization of REIT by Ho Bee of its Singapore, UK and Australia Office properties. While the unlocking of properties into a REIT will indeed free up a lot of cash, I don't think the upside is a lot. CapitaLand REITs are yielding at 4+% and it is likely Ho Bee, if it lists a REIT, will be pricing it at about 5% yield. This is similar to the current yield of the parent company. Readers will comment on the REIT being able to use leverage to amplify its dividends...