The Straits Times Index (STI) closed yesterday at 4,589.17, nudging up a microscopic 0.06%. If you only look at the index, you might think nothing is happening. You would be wrong.
Right now, we are witnessing a tale of two markets in Singapore. On one side, we have “Old Guard” blue chips like Singtel and ST Engineering suddenly flushing shareholders with cash derived from asset sales—a strategy known as “Value Realisation.” On the other side, we have the once-reliable REITs, specifically Mapletree Logistics Trust (MLT), getting hammered by the twin demons of foreign exchange depreciation and rising costs.
The question for your portfolio today is simple: Are you holding the companies that are paying you special dividends, or the ones that are cutting your pay?
