We bought additional Bernas.  Also we sold off Voir and Jetson, swapped to MBSB and Tomei as dividend and potential to pull back faster.

Acquired additional 比高集團, 國金資源, 麗新發展 as long term Hong Kong Portfolio and we have added SUNREIT as it is our objective to increase holding due to its massiv undervalue assets.

For a long time, Fed kept making mistakes.  However, this time i believe Fed was doing the right thing and more responsible.  Even though a lot of people is expecting QE3 including me.  It is true, US does not has the money anymore.  You cant simply print and eventually because of growth.  The swap to ensure long term low interest rate is still good.  If QE3 arrive, do we need QE4?QE5, the problems need to be solved and to resume a natural growth.  Generally, i do feel is over done for sure at the moment.  If we need to crash, let it crash, if we just dont have the money around the world.

KLCI will test 1360 for next support.  But i do think market is very cheap.  Considered Eurozone Hang Seng, STi, US, KLCI all corrected from 30 – 50%.  It is fierce enough this round.  However, our strategy is still on buying low gradually.  We will enter the market tomorrow again.  Across 20 years experience, no one can tell you how low a market can go.  Our strategies are below:-

1.Buy gradually and mildly for every Dow Jones or Eurozone crash trading day that affected the local market.

2.Buy only dividend stocks that can create cash flow at least 6-12 months.

3.Buy Businesses that least impacted by potential recession or slow down.

4.Switching portfolio to highly beaten down No 2 and No 3 above.

It is really a busy day, fundamental no change and thus we bought in Bernas from distressed market.

Selling speculative and given great opportunity to change further our portfolio to POS at bargain price with dividend guarantee.

With a valuation now at PE 12 times.  Also, acquired few months ago at RM 3.60 with a bunch of properties not re-value and national service.  We like POS at this price now.  We entered at 2.380.

With UOADev is highly undervalued when it listed above RM 2.5, we believe this call warrant at price of below 3 cents has huge speculative return potential. We will start adding more until Dec 11 and cut loss if not moving above 5 cents.

Added Suntec REIT, Teledata, Bingo, Agriculture Bank, Chadoa, Hektar, Tomei, Hap Seng, Sunreit, UOADEV

MBSB valuations and earning potential at the current price level of RM 1.390 is consider very cheap.  We expect further down adjustment and we will buy in again.

Affin stock price has suffered one of the largest drop in this Euro crisis.  Even though the indonesia share holding issue remain that call off their investment.  However, we believe local Malaysia will still subject to go through a consolidation where Affin should be acquired by larger bank.  With price of RM 2.60, it is one of the lowest PE bank in the market.  Needless to say it is own by our local Army fund.

We added SUNREIT as it is a well run retail that we believe the creativity is much stronger then any others.  We particular like their top floor shopping at Sunway.