Since my last update, the SRS Portfolio received $995 of distributions from Suntec REIT. Other than that, the portfolio declined in tandem with the market and the bombshell came from AEM Holdings. AEM Holdings The Group announced the highest annual revenue at $870.5m and profit before tax of $158.7m. The EPS was Singapore 40.7 cents, representing a 29% y-o-y increase from FY 2021. The Group proposed a final dividend of 3.6 Singapore cents for the year end (interim is 6.7 Singapore cents). Based on my shareholdings of 12,000 shares, the final dividend is around $432 and will be paid out on 31 May 2023. The "shocker" is probably the target revenue guidance for FY 2023 of $500m, which is substantially lower than FY2022 of $870.5m. You can see from the table below that the 2H 2022 was struggling against the same period last year. If you look at the investor presentation (slide 5), the decline quarter on quarter is pretty stark.