So we took profits in Taiwan and Korea. We maintain a long-term position in chip foundries. We are also trying to move the portfolio into information technology companies and companies that do contract manufacturing unrelated to DRAMs. Venture Manufacturing and Datacraft Asia, both located in Singapore, are a couple. Datacraft is in data communications systems.
Venture manufactures electronics and computer peripherals.
Outside of Singapore, regional tech companies are mostly final-assembly contractors and semiconductor packaging companies. At this point we aren't finding many that fit our investment criteria. The few that do have high share prices. A lot of them are strapped for cash, making it very difficult for them to move up the value-added chain. There are not many listed tech companies in southeast Asia, which means there are not many that can access the capital to compete.