Singapore Exchange | RHB Neutral S$20.90 | A Monopoly, a 2.06% Yield Is Not Income Stock | EP1622🦖
Singapore Exchange | RHB Neutral S$20.90 | A Monopoly, a 2.06% Yield Is Not Income Stock | EP1622🦖
Everyone keeps calling Singapore Exchange a safe, boring monopoly. But at today’s price, it behaves a lot more like a low-yield growth stock than a cornerstone income position. The balance sheet is pristine, the cash pile is huge, yet the one number that decides whether it belongs in a retirement portfolio is quietly flashing red.
If you are drawing from CPF or SRS, a 2.06% yield on a stock trading at 34.8 times earnings means you are taking full equity risk for less income than your CPF Ordinary Account. That gap matters when your electricity bill and groceries are not standing still. In this episode I unpack why a S$21.67 entry price turns a fortress balance sheet into a weak income asset, and what needs to change before SGX earns a place in a defensive dividend portfolio.
📺 YouTube: https://youtu.be/7eRNUyJT7Ko
📩 Substack: https://investingiguana.com/p/singapore-exchange-rhb-research-neutral
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