1. I hold 11,000 shares of Baidu (9988.HK) at average cost of $127 HKD. My total investment is $1,420,000 HKD (or $240,000 SGD).

2. The stock now has a forward PE ratio of 14.41 times. It does not pay any dividend.

3. I invested in Baidu because it had developed the Apollo self driving software and had implemented a self driving taxi fleet in several cities in China during the past year. It is probably more advanced than other similar software. 

4. I read that Baidu is still not able to generate a profit from the self driving taxi fleet. It seems to be a challenge to monetize this software. They have decided to reduce their manpower in this project. 

5. I sold off 6,000 shares at $129 to cut down my exposure to this stock. This is 1.5% above my cost.

6. I will keep the remaining 5,000 stocks and wait for further development. I may reinvest in this stock if there is positive development for their Apollo platform or for their main search engine.

Note - This is a personal view and is not investment advice. 

Tan Kin Lian