To The Moon

UOB Just Raised Its Dividend. Here's Why the Yield Actually Fell 🦖 🔍 The Angle I spotted the uncomfortable contradiction: UOB raised its interim dividend, but the trailing income picture still weakened. The 88-cent payment is not the problem. The trailing twelve-month window quietly replaces a higher final dividend with a lower one, so the headline improvement does not carry through to the annual income base. 💰 What It Means For You For every S$100,000 invested at S$43.30, the ordinary trailing income is roughly S$3,670 a year. That is a 3.67% yield, below this framework's 4.7% retirement hurdle, even though capital remains strong at 15.4% CET1. Iggy's Forensic Zone: Zone 4-, Compound Miss. 📺 YouTube: https://youtu.be/uIhJUA_UMBA 📩 Substack: https://investingiguana.com/p/uob-just-raised-it

DBS Named 7 Deep-Value Stocks. My Forensic Screen Red-Flags 2 of Them 🦖 🔍 The Angle 2.96% and 3.03% are the numbers that made me pause. DBS calls Keppel and SingTel deep-value plays, but my forensic screen asks a different question: can their recurring distributions do the income job today? DBS's value-unlocking framework is credible, but it does not automatically answer the cashflow question. 💰 What It Means For You For a CPF, SRS, or dividend portfolio, a strong growth story can still leave the monthly income gap unresolved. Keppel remains below my 3.2% Forensic Floor, while SingTel misses my 4.7% yield hurdle on ordinary distributions. SingTel's value-realisation payments are real, but they are funded by asset sales rather than recurring earnings. 📺 YouTube: https://youtu.be/yT4bq1-lFKo

All Three Banks Beat Estimates. The Market Only Rewarded Two of Them. 🦖 🔍 The Angle All three banks beat estimates, yet UOB fell 0.6% while DBS and OCBC reached records. I am less interested in the profit beat than in the message management gave about the next few quarters. The uncomfortable clue is that wealth management lifted everyone, but only two banks increased investor confidence in future growth. 💰 What It Means For You For a CPF, SRS, or dividend portfolio, UOB’s S$1.48 billion quarterly profit describes the past, while its low-single-digit fee growth guidance describes the income environment ahead. DBS raised guidance, and OCBC lifted its loan-growth outlook, creating a very different forward picture. I would treat the guidance gap as the real forensic signal, not the headline ea

OCBC Just Posted Record Profit. Its Dividend Yield Just Fell Below My Forensic Floor 🦖 🔍 The Angle A 15% dividend hike sounds like good news, until you realise the share price ran even faster. OCBC just posted record profit of S$2.22 billion, but the ordinary trailing yield fell to 2.94% as the price crossed S$30. Management executed their policy faithfully, but that policy prioritises balance sheet flexibility over building a higher baseline yield for income investors. 💰 What It Means For You If you need cashflow from CPF or SRS now, a 2.94% yield sits below the 3.2% forensic floor and well short of the 4.7% hurdle. Iggy's Forensic Zone: Zone 5, Red Zone, Floor Breach. Legacy holders enjoy higher cash payouts, but fresh capital deployed today accepts a yield below what guaranteed governme

Own the Building or Just Manage the Money: CapitaLand Investment vs City Developments 🦖 🔍 The Angle The counterintuitive number is not CDL’s S$629.7 million profit. It is the gap between headline profit and the cash engine: CDL’s operating profit covered interest only 1.5 times, while CLI’s supposedly safer model managed 1.96 times. That leaves me asking whether “asset-light” changes the risk, or merely moves it from buildings to fundraising and China valuations. 💰 What It Means For You For a CPF or SRS portfolio, this is a cashflow question, not a branding question. CDL’s net debt at roughly 113% of equity and CLI’s S$439 million China revaluation loss show two different ways income can come under pressure. I would be watching interest cover, new capital raising and whether China losses s

OCBC and UOB Both Beat Expectations. One of Them Just Quietly Downgraded Itself.🦖 🔍 The Angle UOB's S$1.48 billion profit beat expectations, but 28% growth in other non-interest income included non-recurring asset divestment gains. The more revealing detail was management cutting full-year fee income guidance from high single-digit growth to low single-digit growth. 💰 What It Means For You For a CPF or SRS dividend portfolio, the key question is not simply whether both banks beat estimates. OCBC raised its interim dividend to S$0.47 from S$0.41, while UOB's S$0.88 was only a small increase from the ordinary S$0.85, despite the headline comparison. A strong quarter is useful, but the quality and repeatability of the income behind it deserve closer attention. 📺 YouTube: https://youtu.be/mbpp

DBS 2Q26 Results: Record Profit, But the Dividend Still Misses My Yield Hurdle by 44bp 🦖 🔍 The Angle I find the most revealing number is not DBS’s record S$3.08 billion quarterly profit. It is the 1.87% to 1.88% net interest margin, because DBS delivered stronger earnings while the core lending spread kept compressing. That tells me the result depends on more than rates alone. 💰 What It Means For You For a CPF, SRS, or dividend portfolio, the 4.26% trailing yield is progress, but it remains below my 4.7% hurdle. The encouraging part is that S$0.66 ordinary dividend plus S$0.15 capital return has now held for three consecutive quarters, while management raised its 2026 guidance. I am watching whether that pattern survives, not celebrating a single record quarter. 📺 YouTube: https://youtu.be

DBS's Dividend Just Went Up Again. Should You Actually Be Excited? 🦖 🔍 The Angle I find the most revealing number is not DBS’s record S$3.08 billion quarterly profit. It is the 1.87% to 1.88% net interest margin, because DBS delivered stronger earnings while the core lending spread kept compressing. That tells me the result depends on more than rates alone. 💰 What It Means For You For a CPF, SRS, or dividend portfolio, the 4.26% trailing yield is progress, but it remains below my 4.7% hurdle. The encouraging part is that S$0.66 ordinary dividend plus S$0.15 capital return has now held for three consecutive quarters, while management raised its 2026 guidance. I am watching whether that pattern survives, not celebrating a single record quarter. 📺 YouTube: https://youtu.be/1VoMxl8bUXE 📩 Subst

S$32 Billion in Pipeline, S$0.03 in Dividends: Auditing DBS's Buy Call on Seatrium 🦖 🔍 The Angle S$32 billion sounds like strength, but the real tension is that Seatrium is still financing a turnaround, not paying an income stream. I’m looking at the gap between pipeline excitement and the part of the business that actually puts cash in your pocket. 💰 What It Means For You For CPF and SRS money, the uncomfortable part is simple, the stock still only throws off S$0.03 a share. Iggy’s Forensic Zone: Zone 5, Red Zone, which tells you the balance sheet is cleaner, but the income case is still not there yet. 📺 YouTube: https://youtu.be/N6yrDQSeKoc 📩 Substack: https://investingiguana.com/p/s32-billion-in-pipeline-s003-in-dividends

Temasek Just Launched a Bond at 2.65%. Should You Actually Buy It?🦖 🔍 The Angle Temasek’s credit is not the surprise. The surprise is that a top-tier name can still leave you reaching for CPF SA as the harder benchmark, not the easier one. I spotted the gap between “safe” and “worth tying up money for 10 years.” 💰 What It Means For You If you manage CPF or retirement cash, the real question is not whether Temasek can pay. It is whether 2.65% is enough when CPF SA is sitting at 4% and doing the same safety job with no extra credit risk. That spread is the part your money feels. 📺 YouTube: https://youtu.be/zRRzF0eui00 📩 Substack: https://investingiguana.com/p/temasek-just-launched-a-bond-at-265