Less Chinese tourist expected at least for 2 months. Travel stocks like Air Asia, Hotels, Casino like GENM and Genting, retails especially will be definitely hit by the first round of impact.

Minimum recovery is 2 months I expect even if the virus can be contained the spread before end of January. It will not be a good start of 2020 for retail stocks for sure.

Since 2019, we started to expand our investment strategy into start-up to improve return. We have a good invested target Buildxact from Melbourne. https://www.buildxact.com.au/. We likes their focus and aggressiveness. At the same time solving some specific problems in their industry. It simply a perfect platform for small builders. Market targeted is in Australia, Canada, UK and US.

By around December 2020 last year, we also invested into another start-up called L28 that uses blockchain technology to sell beef into its first targeted market China. https://www.latitude28produce.com/. We believe the market is very potential as demand of agriculture like genuine beef is highly needed in China.

In 2020, beside of investing into new start-up. We will also explore the potential to start up new business in 2020 given opportunity arises. Expanding our reach into different portfolio.

From both attitudes towards non war. You can be pretty sure everyone wants a living. I think 2020 will be improving as a better year. I suggest to adding weight to investment further. At least I will do so.