To The Moon

Iggy's Journal: Eight Big Announcements Last Night. Three Actually Touch My Ledger, And None Of Them Move A Zone. 24 August 2026, PM Podcast Release: Angela and I went through all eight National Day Rally announcements on today's episode, not to find a stock angle in everything, but to be honest about where one genuinely doesn't exist. Childcare leave, the child support package, the BTO income ceiling, teen social media rules, none of that touches anything I track, and we said so plainly rather than force it. Three items do connect to names already in my coverage, the new western island and Tekong tunnel studies touch Keppel and ST Engineering, both already Zone 5. The autonomous vehicle push touches ComfortDelGro, already Zone 4 on a gearing failure. The US tariff conversation touches the

Iggy's Journal: The S-REIT Selloff Nobody's Talking About: Why It's Not Singapore's Fault 23 August 2026, PM Macro Read: S-REITs are down 7.1 percent this year while the STI has been setting fresh record highs, a 29 percentage point gap. That's not a Singapore problem, it's US Treasury yields repricing REIT valuation models everywhere, regardless of what our own 10-year SGS is doing. Two data centre REITs clear the same 4.7 percent yield hurdle and still land in different zones. Keppel DC REIT sits at Zone 4, Caution. Mapletree Industrial Trust sits at Zone 4-. One locked 87 percent of its debt at 2.6 to 2.7 percent before this cycle started. The other saw floating-rate exposure jump from 11.4 to 26.7 percent in a single quarter. The hedge ratio is doing more work here than the trailing yi

Iggy's Journal: The S-REIT Selloff Nobody's Talking About: Why It's Not Singapore's Fault 23 August 2026, PM Macro Read: S-REITs are down 7.1 percent this year while the STI has been setting fresh record highs, a 29 percentage point gap. That's not a Singapore problem, it's US Treasury yields repricing REIT valuation models everywhere, regardless of what our own 10-year SGS is doing. Two data centre REITs clear the same 4.7 percent yield hurdle and still land in different zones. Keppel DC REIT sits at Zone 4, Caution. Mapletree Industrial Trust sits at Zone 4-. One locked 87 percent of its debt at 2.6 to 2.7 percent before this cycle started. The other saw floating-rate exposure jump from 11.4 to 26.7 percent in a single quarter. The hedge ratio is doing more work here than the trailing yi

Iggy's Journal: Sasseur REIT Is The Only Zone 1 Name On My List Right Now. Why Is That? 22 August 2026, PM The Screen: One REIT clears every hard gate on my list right now, Sasseur REIT. Yield at 9.28%, gearing around 25%, occupancy at 98.5%. Distribution up 10.2%, cost of debt down to 3.9%. On the numbers I have, this is a Zone 1 read. My Personal Take: I'm not calling it locked yet, and I want to be upfront about why. The coverage ratio has two conflicting readings on file, 5.0x from one source and 5.6x from another, and I haven't confirmed which one actually matches how I calculate this everywhere else on my list. Fair value is the same story, no auditable figure with a timestamp I'm willing to stand behind yet. Both readings still clear my floor either way, so the zone call itself isn'

Record STI, Record Buybacks. One Of These Numbers Should Make You Suspicious 🦖 🔍 The Angle Singapore companies bought back S$1.9 billion of their own shares in the first seven months of this year. That's up from S$1.3 billion last year, and nearly double the S$772 million from two years ago. The tension: the Straits Times Index is sitting at record highs while buyback activity accelerates, when textbook logic says rising prices should make repurchases less attractive, not more. 💰 What It Means For You If you're relying on dividend income from CPF or SRS holdings, the buyback headline alone doesn't tell you whether your distribution is safe. Singtel alone accounts for almost half of that S$1.9 billion figure, yet its core yield sits below the 4.7% hurdle I use for income-focused positions.

Iggy's Journal: Record STI, Record Buybacks. One Of These Numbers Should Make You Suspicious. 22 August 2026, AM News: SGX-listed companies spent S$1.9 billion buying back their own shares over the first seven months of 2026, up from S$1.3 billion over the same period last year. Singtel alone accounted for S$893 million of that, the largest buyer on the exchange by a wide margin, cancelling the shares under its ongoing Value Realisation programme rather than holding them in treasury. This is happening the same year the STI has been setting fresh all-time highs. My Personal Take: One of those two numbers is the market doing what markets do. The other is a decision someone made on purpose, at this price, with this cash. That's the distinction I keep coming back to. A buyback at a low pr

I tested September’s SGX dividends vs CPF 4.0% - Only one passed my 4.7% test 🦖 🔍 The Angle Five SGX dividend names hit the September calendar. Only one clears my 4.7% yield hurdle when stacked against CPF SA's guaranteed 4.0%. The other four ask you to accept less income than the safest instrument in the system, while carrying full equity risk on top. 💰 What It Means For You If you're drawing down CPF or SRS now, that gap matters. Sasseur REIT's 10.2% DPU growth and 25.4% gearing clear both the yield test and the balance sheet gate. Asian Pay Television Trust's 11% trailing yield vanishes once you apply management's 2026 guidance cut to 0.80 cents. Iggy's Forensic Zone: Zone 5, Selective. 📺 YouTube: https://youtu.be/DjZpoblDtz0 📩 Substack: https://investingiguana.com/p/september-dividends

I tested September’s SGX dividends vs CPF 4.0% - Only one passed my 4.7% test 🦖 🔍 The Angle Five SGX dividend names hit the September calendar. Only one clears my 4.7% yield hurdle when stacked against CPF SA's guaranteed 4.0%. The other four ask you to accept less income than the safest instrument in the system, while carrying full equity risk on top. 💰 What It Means For You If you're drawing down CPF or SRS now, that gap matters. Sasseur REIT's 10.2% DPU growth and 25.4% gearing clear both the yield test and the balance sheet gate. Asian Pay Television Trust's 11% trailing yield vanishes once you apply management's 2026 guidance cut to 0.80 cents. Iggy's Forensic Zone: Zone 5, Selective. 📺 YouTube: https://youtu.be/DjZpoblDtz0 📩 Substack: https://investingiguana.com/p/september-dividends

The SGX Dividend Stocks Closest to Passing My Forensic Floor (And Why None Have Cleared It Yet) 🦖 🔍 The Angle I ran every SGX dividend name I track against the 4.7% yield hurdle. None cleared it. The closest miss sits 49 basis points away, the widest 167 basis points out. That gap is not a rounding error, it decides whether your income actually clears the floor. 💰 What It Means For You A 49-basis-point miss like DBS can close through calendar mechanics alone, SingTel's 167-basis-point gap needs a real move. Your CPF and SRS income depend on understanding which gap you are holding. Iggy's Forensic Zone: Zone 4, Caution. 📺 YouTube: https://youtu.be/-ZDEryRvFhw 📩 Substack: https://investingiguana.com/p/the-sgx-dividend-stocks-closest-to

Beansprout Says Wait For The Next SSB. My Question: Wait For What, Exactly? 🦖 🔍 The Angle Everyone is asking whether to apply for this month's SSB or wait for next month's rate. The real question is whether this money should be earning SSB rates at all. My forensic floor sits at 3.2%, and neither 2.25% nor the projected 2.33% clears it. 💰 What It Means For You If your CPF Special Account is yielding 4% guaranteed, it already beats every SSB rate on the table. SSBs earn their keep for liquidity, not retirement income, so know which job your cash is actually doing. If you are treating the same pool as both safety buffer and retirement drawdown, it usually does both badly.