While diversified, the company holdings including some potentially higher risk assets.

New Hope - coal, exploration and agriculture. SOL have sold down their to 50% - while coal is currently enjoying a rebound, it has the potential to be continually volatile. The current buoyant coal prices are reflected in the company results. How long can it continue? 

TPG - competition in the sector is fierce, and while TPG seem to have got their strategy working, the margins are being eroded.

Apex health - no comment specifically on the company, however the change in government in Malaysia has cause for concern. This is the same Prime Minister, back again in his 90's, that Keeting called recalcitrant. 

Brickworks - net profit continues to grow, however, my reaction is this is possibly an industry in decline. Drive past new build properties and fewer bricks are being used in construction. "Modern" materials are taking over.