With the proceeds from Select Group, I have added positions in Hock Lian Seng and Singapore Reinsurance Corp.
Hock Lian Seng is an investment holding company with core business in civil engineering, participating in government-related project tenders for building of bridges, expressways, MRT and other infrastructral works, and property development. HLS has a consistent dividend history and yield is 6.67% based on the entry price of $0.27.
Singapore Reinsurance is the only reinsurance company listed in SGX and has been in business for more than 40 years. Share price has improved from $0.145 at the start of 2009 to $0.28 today, and is currently trading at about 0.75x book value. At my entry price of $0.28, yield is more than 5%.