To The Moon

OCBC Says Buy UOB. My Forensic Screen Says Not Yet | EP1601🦖UOB’s dividend still clears my forensic yield hurdle with only a thin twenty basis point buffer, even as management guides Net Interest Margin down toward one point seven five by 2026. The bank has rebuilt a fortress capital buffer and is betting its future on doubling wealth income by 2030, but the loan book and margin squeeze are already blinking amber. The real question is whether that four point nine ordinary yield remains a ceiling or can become a floor for your retirement income.

Is Singapore Airlines Still Worth Holding Before May 14? | Iggy Answers Podcast | EP1600🦖I keep seeing the same mistake with Singapore Airlines right now: everyone is obsessing over the share price while ignoring the three numbers that will actually decide whether your payout survives May 14. Net profit has already slipped from about S$2,778m to S$2,275m, yet the balance sheet is still one of the cleanest in the sector and SIA is actually earning net interest on its cash. That combination is rare, and it tells a very different story from the headlines.If you are holding SIA in CPF, SRS, or a simple dividend portfolio, your real risk is not “is this blue chip safe” but “how much harvest is left on this tree at a 5.6 percent yield.” On May 14 I am watching three inputs: profit recovery, pass

OCBC Q1 2026 Review: NIM Bleeds 5% While CET1 Stays 15.2% | EP1599🦖Twenty three percent growth in OCBC’s non interest income sounds like a nice headline until you realise it is the part of the business most exposed to market mood. The bank used a record S$1.61b in fees, trading and insurance income to patch a 5 percent bleed in core lending and still report a 5 percent net profit rise. My forensic tension is simple: I like fortress CET1 and 0.9 percent NPLs, but I do not like when your retirement cheque leans harder on wealth commissions than on loan margins.For Singapore investors living off CPF, SRS or dividend portfolios, the question is no longer “Is my capital safe?” but “What kind of risk is paying me this yield?” When a stock with a 4.52 percent dividend yield trades more than 26 pe

UOB’s $1.44B Profit: A Dividend Sanctuary or a Yield Trap? | EP1597 🦖UOB’s 1.44 billion dollar net profit sounds like comfort, but the real tension is this: a shrinking 1.82% NIM and an 8% drop in core fee income are being carried by a fortress 15.3% CET1, yet the market is still asking you to accept just 3.9% in ordinary yield for that balance sheet discipline. The forensic numbers say management is doing the hard work on funding costs, China provisioning and credit risk, while your retirement capital is still being paid below my 4.7% minimum yield hurdle and 3.2% Forensic Floor for a core income position. As an income-focused investor, my stance is simple: respect the quality of the bank, but refuse to overpay for a yield that has not yet earned its place in a retirement portfolio.In tod

Singapore SRS Loses 6,200 Basis Points Moving DBS to NVDA | EP1595The SGX-Nasdaq bridge launching in June 2026 solves an access problem but creates a liquidity trap that most retail investors will only discover when they try to exit. Moving S$100,000 from DBS into Nvidia through the Global Listing Board delivers a 6,200 basis point income loss while the absence of a market-maker mandate means your SGD-denominated shares could freeze during US market closures. The S$3.95 billion EQDP fund backstops institutional flow, not your retail order book.The forensic reality is that the 1.4% T-Bill yield sits well below the 3.2% Forensic Floor, and the bridge names like Apple at 0.37% yield and Nvidia at 0.02% fail the 4.7% hurdle entirely. For an SRS portfolio built to fund retirement, the choice is

Is Singtel Still a Dividend King? The Truth About Buying for Life | EP1596🦖The part that shocked me in this Singtel audit is how many retirees are still accepting a 3.6% yield while the CPF Special Account quietly pays 4% in the background. Once you strip away the SDS nostalgia, the AI story and the Temasek comfort blanket, the numbers say the same thing: solid balance sheet, but you are taking full equity risk for less income than a government-guaranteed floor. My stance is simple: if a stock cannot clear the 3.2% Forensic Floor with at least 1.5% of real risk premium on top, it does not earn “anchor” status in a retirement portfolio.For anyone running an HDB household portfolio, this is not about whether Singtel is a “good company”, it is about whether your capital is being paid fairly f

Is Singtel Still a Dividend King? The Truth About Buying for Life | EP1596🦖The part that shocked me in this Singtel audit is how many retirees are still accepting a 3.6% yield while the CPF Special Account quietly pays 4% in the background. Once you strip away the SDS nostalgia, the AI story and the Temasek comfort blanket, the numbers say the same thing: solid balance sheet, but you are taking full equity risk for less income than a government-guaranteed floor. My stance is simple: if a stock cannot clear the 3.2% Forensic Floor with at least 1.5% of real risk premium on top, it does not earn “anchor” status in a retirement portfolio.For anyone running an HDB household portfolio, this is not about whether Singtel is a “good company”, it is about whether your capital is being paid fairly f

Centurion Accommodation REIT 1Q 2026: No Low Leverage Means No Sanctuary Left | 🦖EP1592 The market sees a clean 7.4% projected yield, but the balance sheet sees a REIT that nearly doubled its net debt in one quarter and is now leaning on master leases to keep the income line looking smooth. A 31% aggregate leverage ratio, S$659 million of net debt and a financing cost that quietly steps up from 3.57% to 3.79% once you include the real fees is not a small technicality, it is a fundamental shift in who carries the risk. My stance is simple: when a “low‑leverage sanctuary” REIT rewrites its capital structure this quickly, I treat the headline beat as a red flag, not a comfort blanket. 📺 YouTube: https://youtu.be/AIzU9lhZ6Ds 📩 Substack: https://investingiguana.com/p/careit-1q-2026-debt-hits-31

No Real Growth = No Safety in 1Q Results | SGX Daily Pulse 6 May 2026 | 🦖EP1593 The market focused on the 1.9% revenue climb. My forensic audit found the hidden pressure on the yield spread. Great Eastern delivered 0.2% profit growth while investment conditions deteriorated — that's a real-term loss against 1.7% core inflation. Venture rode the AI infrastructure headline but posted revenue growth slower than the inflation eating your grocery budget. CAReit beat its NPI forecast but trades at a yield of 1.57%, just 0.17% above the T-bill. This is the environment where clearing the floor is not the same as earning conviction. The six-month T-bill sits at 1.40%. My forensic floor is 3.2%. The minimum yield hurdle is 4.7%. When a REIT with operational strength trades at a spread this thin, and

No Real Growth = No Safety in 1Q Results | SGX Daily Pulse 6 May 2026 | 🦖EP1593The market focused on the 1.9% revenue climb. My forensic audit found the hidden pressure on the yield spread. Great Eastern delivered 0.2% profit growth while investment conditions deteriorated — that's a real-term loss against 1.7% core inflation. Venture rode the AI infrastructure headline but posted revenue growth slower than the inflation eating your grocery budget. CAReit beat its NPI forecast but trades at a yield of 1.57%, just 0.17% above the T-bill.This is the environment where clearing the floor is not the same as earning conviction. The six-month T-bill sits at 1.40%. My forensic floor is 3.2%. The minimum yield hurdle is 4.7%. When a REIT with operational strength trades at a spread this thin, and a