We continue to hedge over AUD at 2.92 and added Teledata

We believe this is a good chance to add in more AUD. Though AUD has the same weakness like RM but is further weaker by the potential of a rate cut on 6th August 2013.

We added Teledata mildly at SGD 0.013. Due to the price is not reflecting its actual business. We will hold on a quarter and look at their recent result after acquisition of the Korea base Co. We will advise further after a quarter.