To The Moon

Chase Room Keys, Ignore the Debt Wall: A Forensic Review of the Institutional 'BUY' on LHN | EP1634🦖 The strange thing about this LHN story is that the one number that looks the best on paper is also the one that could get a 55-year-old in trouble. A 6.5 percent dividend sounds like a gift when CPF SA pays 4.0 percent, but once I stripped out the broker optimism and just lined up the revenue decline, the 10.39 times net debt to EBITDA and the marginal interest coverage miss, it started to look less like “bond replacement” and more like a leveraged co-living bet dressed up as income. If you are running CPF, SRS and a REIT portfolio to fund your MRT rides and HDB expenses in retirement, the question is not whether the Coliwoo brand can hit 10,000 keys, it is whether that 6.5 percent payout c

Prudential Drops 10%. Here's What the Index Isn't Telling You | Weekly Update | EP1635 🦖 Twenty-two thousand insurance customers woke up to the wrong amount yanked from their bank accounts, in the same window an STI constituent insurer got formally rapped by MAS and then saw its share price sink about ten percent. That is not a headline story, that is a live-fire test of what “blue-chip safety” actually means when your retirement depends on dividends clearing your monthly bills. If you are running CPF, SRS and a REIT portfolio like an MRT line from Jurong to Pasir Ris, you cannot let a one point nine percent type yield lull you into thinking your income is protected against operational glitches and conduct failures hiding under the hood. In this week’s breakdown, I walk through why that ki

Prudential Drops 10%. Here's What the Index Isn't Telling You | Weekly Update | EP1635 🦖 Twenty-two thousand insurance customers woke up to the wrong amount yanked from their bank accounts, in the same window an STI constituent insurer got formally rapped by MAS and then saw its share price sink about ten percent. That is not a headline story, that is a live-fire test of what “blue-chip safety” actually means when your retirement depends on dividends clearing your monthly bills. If you are running CPF, SRS and a REIT portfolio like an MRT line from Jurong to Pasir Ris, you cannot let a one point nine percent type yield lull you into thinking your income is protected against operational glitches and conduct failures hiding under the hood. In this week’s breakdown, I walk through why that ki

Member Portfolio Audit | Principal (Age 60+) | EP1631🦖 Everyone talks about “over‑concentration” like it is a tech‑stock problem, but the most concentrated portfolios I see now are in DBS, OCBC and one or two “safe” property names. On paper, this looks conservative: two big banks, a few REITs, maybe an old family counter that has been in the drawer for 15 years. When I line up yield, gearing and fair value, what I actually see is one clean engine quietly subsidising several assets that no longer earn their keep. If you are in your fifties or sixties, planning to live off dividends, this gap matters more than the headline STI level or what your broker calls “blue chips”. A bank stack paying above 5 percent can feel comforting until you notice that 10 to 15 percent of your net worth is stuck

Keppel DC REIT: 3 Good and 3 Red Flags | EP1630🦖 What if the AI boom that makes Keppel DC REIT look unstoppable is the same thing quietly eroding your retirement safety net? I keep seeing investors celebrate the 42.2% revenue surge and 7.2 times interest cover, but almost nobody asks who is really paying for that growth. When I lined up the dilution, gearing, and yield against CPF and SRS options, the picture that emerged was not the one the slide decks are selling. If you are in your late 50s, the question is not whether the data centre story is exciting, it is whether a 4.55% yield and 35.1% gearing actually beat leaving that money in a 4.0% CPF Special Account once you factor in dilution and rights issue risk. My 3.2% forensic floor and 4.7% yield hurdle are designed for this exact trad

Your CPF Is Earning More Than You Think. Here's the Exact Math | EP1629🦖 A lot of uncles I talk to still think “my CPF SA pays 4%, that’s it”. The forensic truth is very different. A typical 55-year-old with about S$190,000 in CPF is quietly earning 5–6% on the first S$60,000 of that stack, because of the bonus interest tiers that never show up in the headline rate. Once you see that, every “safe income” stock in your portfolio looks very different. If your CPF is already paying S$1,800 a year on the first S$30,000 at 6%, and another S$1,500 on the next S$30,000 at 5%, any dollar you pull out at 55 to chase a 4–5% yield suddenly looks like a downgrade, not an upgrade. Before you touch your OA, your RA, or your SRS, you need to know exactly what your current CPF floor is, and whether that R

CPF Holds. SATS Pops. Here's What Actually Matters | SGX DAILY PULSE 26 May 2026 | EP1628🦖 Everyone is staring at SATS jumping more than 6%, but the part that made me sit up was how little of that excitement actually shows up in your pocket if you are a CPF and SRS investor. At around S$3.59, that higher five-cent dividend works out to roughly 1.4% a year, at the same time your CPF Special Account has quietly confirmed 4% again for Q3. The headlines are shouting “strong recovery”, but the income math is quietly telling a very different story.

3 Things Every Singaporean Investor Must Check Before Buying Any Stock | Masterclass 101 | EP1619🦖 I have been asked the same question at least forty times this month, and it always comes in the same form: which stock should I buy for retirement income? The question itself is the problem. Before you ask which stock, you need to ask which zone that stock sits in, whether the yield is coming from actual earnings or borrowed capital, and whether the balance sheet can survive a rate shock without cutting your distribution. Most retail investors skip straight to the ticker without checking whether the company is borrowing money to pay them. A payout ratio above one hundred percent is not generosity. It is a countdown. The three checks in this episode are the same ones I apply to every single st

Singapore GDP Reality Check — What MTI's Warning Means for Your CPF and REIT Portfolio | EP1626🦖 Everyone is cheering a 6% GDP jump and a stronger Singapore dollar, but MTI quietly kept the full‑year forecast at just 2–4%. That gap is the tension I care about. It tells you the “boom” you see in the headlines is backward‑looking, while the footnotes are already preparing you for slower growth, higher costs, and a much less friendly backdrop for dividend investors. If you are 55 in Bedok planning to draw S$800 or S$1,200 a month from REITs on top of your CPF, this is where it bites. MAS has already tightened policy with core inflation forecast higher, which means higher-for-longer rates squeezing REITs that are near my 35% gearing ceiling or facing a debt wall in the next 12 months. Before t

Singtel FY2026 Forensic Audit | Why a Record Dividend Sent the Price Down 6.4%| EP1624🦖 5.1 cents of your 18.5 cent Singtel dividend comes from selling assets, not running the business. That is 27.6 per cent of your annual income depending on a S$3.3 billion transaction pipeline that needs to execute over the next four years. The VRD component grew this year when it should have been shrinking. Management delivered record NCS bookings and genuine progress on Digital InfraCo, but the part funding your retirement income is moving in the wrong direction. At S$4.59, the total yield is 4.03 per cent. Strip out the VRD and the core yield from operations is 2.92 per cent, below the 3.2 per cent forensic floor. Your CPF Special Account pays 4.0 per cent with zero execution risk and full government