Portfolio Update March 2010

2010 Year to date (YTD) Return Portfolio 5.08% Equity(Include Funds)  4.64% Direct Shareholding 8.20% Dividend/Coupon/Interest received for 2010 $30,894 Absolute Return Since Nov 2007 Portfolio 10.15% Equity(Include Funds) 19.88% Direct shareholding 23.31%

1) You start seeing monetary tightening by governments thru' interest rate movements. This is nothing to be afraid of as this is the initial tightening phase from a period of excess liquidity and low interest rate. Tightening of interest rate will only affect investment sentiments when interest rate is at normal levels but start moving up. On the contrary, interest rate tightening is a form of indication by governments that the economy is indeed in recovery mode and this is reason to be in equities still.