Market Outlook

Market will like stay soft - perhaps at least lasting through the first month of the world cup - the point here is that although STI has corrected abt 11% from its peak of 3019, valuations are still not that attractive. The main themes that are finding favor with investors appear to be tourism related (SATS, Genting SP) and business relocations to Singapore (CCT, Kland) and dividend plays (Suntec, MappleTree, Cache, AREIT - all paying between 7-8%).