Riding the HKEX Tech Rally: How I Pocketed HKD 5,732 (17%) from CATL In 2 Weeks.

Hi Folks, welcome back to Investment Income for Life! In an earlier post titled “The Battery KingStumbles-CATL (3750.HK) Down 57% From Its Peak: Bargain or Falling Knife?”, I had shared my analysis of Contemporary Amperex Technology (CATL) listed on HKEX. Towards the 3rd week of October 2026, I had taken up a small position of 100 shares at HKD 337, for a total outlay of HKD 33,758.71 (including fees) while waiting for its price to plunge further and also other business indicators such as net profit margin to stabilize. I was planning to take up a substantial purchase should it plunge further. However, this anticipated huge decline in CATL prices did not materialize and surprisingly, it had since rallied strongly from the trough within a 2 short weeks period.

1. Taking Profit in the Mini Rally
When HKEX tech stocks staged a mini rally, CATL ran up with them. I didn't overthink it. On 6 Nov 2026, I sold all 100 shares at HKD 395.6, receiving HKD 39,490.98 after fees.

2. The Numbers
That works out to a net profit of HKD 5,732.27, or about 17% capital appreciation, in roughly two weeks. Not bad for a short holding period!

3. Back to the Excess Cash Pot
The full proceeds have gone back into my excess cash pot. Sometimes, best not to be too greedy. Keeping dry powder ready means one can pounce when the next good opportunity comes along.

Ok folks, that's all from me today. Happy Deepavali and enjoy this festive period with your loved ones!

SGX REIT Data- As at 6 November 2026 Closing.

 Good news is that SREIT seems to have rebounded from the bottom 2-3 weeks ago. So best to hold long term and not just sell out of fear and then miss the rally. Hope that you folks have managed to add on some SREITs during that down period.

Singapore REITs (S-REITs) — Valuation & Yield Table

Closing prices as at 6 Nov 2026 · Ordered: CapitaLand, Mapletree, Keppel, then A–Z · Scroll sideways and down; No. and Name stay fixed.

No.	Name of REIT	SGX Code (Currency)	Closing Price 6 Nov 2026	NAV per Unit latest	Premium / Discount to NAV	Payout Freq.	Last Distribution Payout (DPU)	Annualised DPU	Forward Dist. Yield	Aggregate Leverage	Sector
1	CapitaLand Integrated Commercial Trust	C38U (SGD)	2.34	2.15 30 Jun 26	+8.8% Premium	HY	6.020 S¢ 1H26	12.040 S¢	5.15%	37.4% 30 Jun 26	Integrated REIT
2	CapitaLand Ascendas REIT	A17U (SGD)	2.26	2.27 30 Jun 26	-0.4% Discount	HY	7.482 S¢ 1H26	14.964 S¢	6.62%	39.7% 30 Jun 26	Industrial
3	CapitaLand Ascott Trust	HMN (SGD)	0.85	1.15 30 Jun 26	-26.5% Discount	HY	2.532 S¢ 1H26	5.064 S¢	5.99%	37.7% 30 Jun 26	Hospitality
4	CapitaLand China Trust	AU8U (SGD)	0.63	1.04 30 Jun 26	-39.9% Discount	HY	2.450 S¢ 1H26	4.900 S¢	7.84%	40.4% 30 Jun 26	Integrated REIT
5	Mapletree Industrial Trust	ME8U (SGD)	1.74	1.62 30 Sep 26	+7.4% Premium	Qtr	2.970 S¢ 2Q FY26/27	11.880 S¢	6.83%	37.7% 30 Sep 26	Industrial
6	Mapletree Logistics Trust	M44U (SGD)	1.11	1.27 30 Sep 26	-12.6% Discount	Qtr	1.816 S¢ 2Q FY26/27	7.264 S¢	6.54%	37.5% 30 Sep 26	Industrial
7	Mapletree Pan Asia Commercial Trust	N2IU (SGD)	1.18	1.73 30 Sep 26	-31.8% Discount	Qtr	1.940 S¢ 2Q FY26/27	7.760 S¢	6.58%	38.1% 30 Sep 26	Integrated REIT
8	Keppel DC REIT	AJBU (SGD)	2.17	1.73 30 Jun 26	+25.4% Premium	HY	5.714 S¢ 1H26	11.428 S¢	5.27%	34.0% 30 Jun 26	Data Centre
9	Keppel REIT *	K71U (SGD)	0.84	1.22 30 Jun 26	-31.6% Discount	HY	2.610 S¢ 1H26	5.220 S¢	6.25%	40.0% 30 Jun 26	Commercial
10	KORE US REIT	CMOU (USD)	0.15	0.70 30 Jun 26	-79.1% Discount	HY	0.400 US¢ 1H26	0.800 US¢	5.48%	43.3% 30 Jun 26	Commercial
11	Acrophyte Hospitality Trust *	XZL (USD)	0.23	0.68 30 Jun 26	-66.9% Discount	HY	Suspended	–	–	43.2% 30 Jun 26	Hospitality
12	AIMS APAC REIT *	O5RU (SGD)	1.40	1.27 30 Jun 26	+10.2% Premium	Qtr	2.571 S¢ 2Q FY27	10.284 S¢	7.35%	24.9% 30 Jun 26	Industrial
13	Alpha Integrated REIT	M1GU (SGD)	0.48	0.53 30 Jun 26	-9.4% Discount	HY	2.030 S¢ 1H26	4.060 S¢	8.46%	34.9% 30 Jun 26	Industrial
14	BHG Retail REIT	BMGU (SGD)	0.41	0.73 30 Jun 26	-44.5% Discount	HY	0.120 S¢ 1H26	0.240 S¢	0.59%	40.1% 30 Jun 26	Retail
15	CDL Hospitality Trusts	J85 (SGD)	0.72	1.37 30 Jun 26	-47.4% Discount	HY	2.150 S¢ 1H26	4.300 S¢	5.97%	35.3% 30 Jun 26	Hospitality
16	Centurion Accommodation REIT	8C8U (SGD)	1.07	0.87 30 Jun 26	+23.0% Premium	HY	3.499 S¢ 1H26	6.998 S¢	6.54%	29.9% 30 Jun 26	Hospitality
17	Daiwa House Logistics Trust	DHLU (SGD)	0.43	0.63 30 Jun 26	-31.7% Discount	HY	1.820 S¢ 1H26	3.640 S¢	8.47%	40.1% 30 Jun 26	Industrial
18	Digital Core REIT	DCRU (USD)	0.46	0.79 30 Jun 26	-41.8% Discount	HY	1.800 US¢ 1H26	3.600 US¢	7.83%	39.2% 30 Jun 26	Data Centre
19	EC World REIT *	BWCU (SGD)	0.28	n.a. n.a.	n.a.	—	Suspended	–	–	n.a. n.a.	Industrial
20	Elite UK REIT	MXNU (GBP)	0.31	0.44 30 Jun 26	-30.7% Discount	HY	1.550 p 1H26	3.100 p	10.16%	34.8% 30 Jun 26	Commercial
21	ESR REIT	9A4U (SGD)	2.09	2.50 30 Jun 26	-16.4% Discount	HY	11.510 S¢ 1H26	23.020 S¢	11.01%	41.4% 30 Jun 26	Industrial
22	Far East Hospitality Trust	Q5T (SGD)	0.52	0.88 30 Jun 26	-41.2% Discount	HY	1.630 S¢ 1H26	3.260 S¢	6.33%	32.8% 30 Jun 26	Hospitality
23	First REIT *	AW9U (SGD)	0.18	0.23 30 Jun 26	-23.9% Discount	Qtr	0.460 S¢ 3Q26	1.840 S¢	10.51%	45.7% 30 Jun 26	Medical
24	Frasers Centrepoint Trust	J69U (SGD)	2.14	2.32 30 Sep 26	-7.8% Discount	HY	6.214 S¢ 2H FY26	12.428 S¢	5.81%	38.7% 30 Sep 26	Retail
25	Frasers Logistics & Commercial Trust *	BUOU (SGD)	0.93	1.12 31 Mar 26	-17.4% Discount	HY	2.950 S¢ 2H FY26	5.900 S¢	6.38%	33.7% 31 Mar 26	Integrated REIT
26	IREIT Global *	UD1U (SGD)	0.17	0.46 30 Jun 26	-63.9% Discount	HY	0.546 S¢ 1H26	1.092 S¢	6.58%	45.5% 30 Jun 26	Integrated REIT
27	Landmark REIT *	D5IU (SGD)	0.007	0.025 30 Jun 26	-72.0% Discount	—	Suspended	–	–	39.6% 30 Jun 26	Retail
28	Lendlease Global Commercial REIT	JYEU (SGD)	0.55	0.70 30 Jun 26	-21.4% Discount	HY	1.850 S¢ 2H FY26	3.700 S¢	6.73%	38.9% 30 Jun 26	Integrated REIT
29	Manulife US REIT *	BTOU (USD)	0.033	0.19 30 Jun 26	-82.6% Discount	—	Suspended	–	–	54.1% 30 Jun 26	Commercial
30	NTT DC REIT *	NTDU (USD)	0.92	1.14 31 Mar 26	-19.7% Discount	HY	3.870 US¢ 2H FY25/26	7.740 US¢	8.46%	29.2% 31 Mar 26	Data Centre
31	OUE REIT	TS0U (SGD)	0.35	0.56 30 Jun 26	-38.4% Discount	HY	1.260 S¢ 1H26	2.520 S¢	7.30%	41.5% 30 Jun 26	Integrated REIT
32	Parkway Life REIT	C2PU (SGD)	4.01	2.57 30 Jun 26	+56.0% Premium	HY	8.770 S¢ 1H26	17.540 S¢	4.37%	33.8% 30 Jun 26	Medical
33	Prime US REIT	OXMU (USD)	0.11	0.53 30 Jun 26	-79.6% Discount	HY	0.500 US¢ 1H26	1.000 US¢	9.26%	44.9% 30 Jun 26	Commercial
34	Sasseur REIT	CRPU (SGD)	0.63	0.82 30 Jun 26	-23.8% Discount	HY	3.366 S¢ 1H26	6.732 S¢	10.77%	25.6% 30 Jun 26	Retail
35	Starhill Global REIT	P40U (SGD)	0.49	0.71 30 Jun 26	-31.7% Discount	HY	1.880 S¢ 2H FY25/26	3.760 S¢	7.75%	35.8% 30 Jun 26	Integrated REIT
36	Stoneweg Europe Stapled Trust	SET (EUR)	1.43	2.02 30 Jun 26	-29.2% Discount	HY	6.642 €c 1H26	13.284 €c	9.29%	43.6% 30 Jun 26	Integrated REIT
37	Suntec REIT *	T82U (SGD)	1.37	2.03 31 Mar 26	-32.5% Discount	Qtr	2.017 S¢ 3Q26	8.068 S¢	5.89%	41.6% 31 Mar 26	Integrated REIT
38	UI Boustead REIT *	UIBU (SGD)	0.78	0.85 IPO	-8.8% Discount	HY	3.710 S¢ 12 Mar–30 Sep 26	6.670 S¢	8.61%	36.4% IPO	Industrial
39	United Hampshire US REIT	ODBU (USD)	0.47	0.73 30 Jun 26	-36.3% Discount	HY	2.160 US¢ 1H26	4.320 US¢	9.29%	40.4% 30 Jun 26	Retail

Prices: SGX closing on 6 Nov 2026; shown to 2 d.p. (3 d.p. where below 0.10). NAV, DPU and price are in the counter's trading currency. NAV and aggregate leverage are from the same latest reporting date. Last DPU is the latest routine payout for a full period (advance distributions from equity raisings are included only as part of the full-period total). Annualised DPU = Qtr × 4 or HY × 2. Forward yield = annualised DPU ÷ closing price. Premium in red, discount in blue; gearing ≥ 45% in red. Business trusts excluded. Source: company SGX filings & results releases. Not investment advice.
Notes:

• Keppel REIT: Adjusted NAV
• Acrophyte Hospitality Trust: Distributions suspended from 1H26
• AIMS APAC REIT: Gearing 37.4% at 30 Sep 26
• EC World REIT: Trading suspended; last traded price
• First REIT: Gearing 27.5% at 30 Sep 26 after divestment
• Frasers Logistics & Commercial Trust: FY26 NAV not yet published; gearing 39.2% at 30 Sep 26
• IREIT Global: DPU €0.37c, converted at S$1.4752/€
• Landmark REIT: Distributions suspended
• Manulife US REIT: Distributions suspended
• NTT DC REIT: 1H FY26/27 results due 11 Nov 26
• Suntec REIT: Gearing 43.0% at 30 Sep 26
• UI Boustead REIT: Maiden DPU pro-rated to 12 months; gearing at 30 Jun 26

Is 13% Yield Too Good to Be True? Inside JEPI & JEPQ and My Personal Pick.

Monthly Income Showdown: JEPI, JEPQ or Allspring Enhanced Income Fund.

Margin Loan Showdown: Online Brokers vs Bank Brokers in Singapore.

Hi Folks, this will be a short post. For those who are also using margin financing strategy. Seems that for SGD financing, Interactive brokers offered the lowest rate. However, my personal preference is to stick to the traditional brokers (Maybank, DBS Vickers, UOB Kay Hian) albeit higher transactional fees as I still feel they are financially stronger and less likelihood of business failure that will lead to unnecessary administrative headaches to settle on custodian ownership release in such an unfortunate black swan event. Also, for those on privileged banking with higher net worth, there is also the possibility of getting a reduced financing rates for margin loan.

Do share also if there are other cheaper options out there (besides the use private home equity loan) in terms of brokers offering. Ok, that's all from me for now on this. Have a great week ahead!

Aztech Global (SGX: 8AZ) Crashes 62% – What Went Wrong and Is It Time to Bottom-Fish?

Hi Folks, welcome back to Investment Income for Life. Today we are looking at a stock with high dividend yield that some investors in Singapore have owned at some point: Aztech Global (SGX: 8AZ). I have previously warned against buying this stock at S$1.28 during its IPO back in March 2021- please refer to this previous post. As at 29 October 2026, the share price has plunged from around S$1.06 to just S$0.40, a drop of roughly 62%. For a counter that was once a darling of yield hunters, that is a brutal re-rating. Let's quickly unpack what happened.

Price Chart Trending of Aztech Global Since IPO- Gone with the Wind

1. Severe Revenue and Profit Contraction
The market aggressively re-priced the stock after a string of weak financial updates. The latest Q3 2026 business update confirmed that the tech slowdown is biting hard:

•       Top-line collapse: Q3 2026 revenue plummeted 39.8% year-on-year to S$80.4 million.

•       Profit plunge: Q3 2026 net profit also fell 39.8% to S$6.5 million.

•       Nine-month picture: Cumulative net profit for 9M 2026 cratered 40.9% to S$15.9 million.

This came on the back of an already weak first half, where revenue fell 18.4% to S$151.4 million and net profit dropped 41.7% to S$9.4 million. And note that the 1H number was flattered by a one-off S$2.5 million gain from selling a property in Dongguan, China. Strip that out and core earnings look even thinner.

2. Cyclical Downturn in IoT and Smart Home Demand
Aztech is essentially an electronics manufacturing services (EMS) player that designs and builds IoT devices, smart home products and data-communication equipment for global brand owners. When consumer electronics demand softens, Aztech feels it almost immediately.

Key customers have delayed product launches and cut order volumes on existing programmes. Management had already flagged softer demand for 2H 2026 back in July, warning that new projects were unlikely to fully offset lower volumes from existing customers. The Q3 numbers show that warning was, if anything, understated.

Past 12mths Market Price

3. Tighter Competition and Pricing Power Issues
Contract manufacturing is a tough business. Aztech faced stiffer competition and had to accept lower pricing to keep volumes flowing, which squeezed margins. Net profit margin in 2Q 2026 was just 6.2%, down from 10.2% a year earlier.

Currency was another headwind. In the first half alone, Aztech booked a S$2.8 million foreign exchange loss due to the weaker US Dollar. Since most of its sales are in USD while it reports in SGD, a soft greenback directly erodes the bottom line.

4. Severe Analyst Downgrades and Valuation Adjustments
With little visibility on FY2027 earnings, the research houses turned decisively bearish:

•       DBS Group Research halved its target price from S$0.66 to S$0.33 in October 2026, maintaining a "Fully Valued" (Sell) call.

•       Consensus EPS estimates for FY2026 were slashed from S$0.057 to just S$0.023.

When earnings estimates get cut by more than half, the share price usually follows. That is exactly what we have seen here.

5. Unsustainable Dividend Yield Fears
This is the part that hurts income investors the most. Aztech entered this cycle sporting a headline trailing yield of close to 30%, boosted by generous special dividends paid out of its big cash pile in earlier years. But a trailing yield only tells you what was paid, not what will be paid.

With profits shrinking and free cash flow no longer comfortably covering such heavy payouts, the market quickly priced in a dividend cut. The interim dividend for 1H 2026 was just 0.5 cent per share, half of the 1 cent paid for 1H 2025. Income-focused holders rushed for the exit, adding fuel to the sell-off.

6. Is There Any Silver Lining?
To be fair, Aztech is not a company in financial distress. As at 30 June 2026, it still had a net cash position of about S$190.6 million. With roughly 772 million shares outstanding, that works out to around S$0.25 per share in net cash. At S$0.40, close to 60% of the share price is backed by cash on the balance sheet.

The company also remains profitable and has been winning new projects and customers in areas like MedTech, security and industrial segments. So the business is not broken; it is shrinking in a cyclical downturn.

7. Parting Thoughts
My personal thought and concern here is that Aztech’s past substantial owners have this habit of offering to take the company private using a low-ball offer and then after a few years, they will re-list part or all of the business in another form. With the huge plunge, the current low share price may become a target to do a buy-over at the worst possible time & price. I will continue to stay far far away from this stock.

Ok folks, that's all from me today. Have a great week ahead!

Disclaimer: This post is for educational purposes only and is not a recommendation to buy or sell any security. Please do your own due diligence or consult a licensed financial adviser before investing.

Singapore Geothermal Energy Potential at 60 Times of Current Annual Power Requirement! Singaporeans, Please Stop Quarrelling With Indonesians Government Supporters Online.

Hi Folks, welcome back to Investment Income for Life. Just two days ago, I wrote about Indonesia’s gas cut and why Singapore should embrace nuclear energy. A day later, our Energy Minister dropped a truly shocking and pleasant surprise. It turns out the little red dot may not be so resource-poor after all.

1. Geothermal Potential 60 Times Our Annual Power Needs
At the Singapore Energy Lecture on 26 October 2026, Minister Dr Tan See Leng shared that a geophysical survey estimated Singapore’s geothermal technical potential at more than 60 times our annual electricity consumption of around 60 TWh. High-temperature resources were found several kilometres underground. EMA has appointed a Surbana Jurong and GLJ consortium to run a feasibility study of about 15 months from end-2026, covering safety, technical viability and cost.

Folks, we grew up being told Singapore has no natural resources except our people. As recently as 2019, the official line was that we have no usable geothermal at all. This is jaw-dropping news.

2. Why It Could Be a Game Changer
About 95% of our electricity comes from imported natural gas. Solar is intermittent and land-hungry. Geothermal, by contrast, is home-grown, clean and runs 24/7, the energy version of a reliable dividend stock that pays every month without fail. My last post only talked about nuclear as our energy “fifth tap”. Geothermal now gives us a possible sixth. Together, they could move Singapore from near-total import dependence towards real energy self-sufficiency.

A dose of realism though. Technical potential is not the same as economically recoverable. Deep drilling is costly, safety comes first in a dense city, and no decision to deploy has been made yet. Think of this as a promising exploration result, not a producing oil field. Still, far better than a dry well.

3. Singaporeans, Stop Quarrelling Online
To my fellow Singaporeans: please stop arguing with Indonesian government supporters online over the haze and gas cut. These debates are impossible to win and meaningless. Nobody changes their mind because of a clever comment, and the noise only feeds politicians who like painting Singapore as the villain. Ordinary Indonesians suffer from the haze as much as we do. Talk is of no use, and keyboard wars do not keep the lights on.

4. Lay Low and Build

Singapore beat the water threats not by shouting, but by quietly building NEWater and desalination plants. Energy should follow the same playbook. Lay low and build up our nuclear and geothermal capabilities for self-sufficiency. The groundwork is already happening: five new power plants will come online between 2026 and 2031, and Sembcorp will get conditional approval to import up to 1.3 GW of renewable electricity via Peninsular Malaysia. Every new source is one less lever anyone can pull on us.

5. But Not Total Silence
Laying low does not mean rolling over. The proper channel is our PM and ministers. PM Lawrence Wong has said Singapore expects all parties to honour their commitments, and Gas Supply will check for any breach of contract and pursue remedies if needed. Indonesia insists the cuts are within contract limits, but coming right after threats against countries that “disrespect” it, the spirit of a reliable partnership has clearly been dented. Our leaders must respond firmly through proper channels. Total silence would signal such moves are cost-free and invite more gas cuts.

6. What This Means for Investors
Energy security is now a firm national priority, which usually means sustained capital spending. Sembcorp Industries and Keppel Ltd sit right in this theme through power generation, regional imports and low-carbon projects. Geothermal itself is a long-dated story with no quick trade, but a Singapore that generates more of its own power is a safer home for capital, businesses, data centres and our REITs. As always, this is my personal view, not financial advice.

7. Parting Thoughts
Overall, I am happy. Nuclear plus geothermal could be a real game changer for a country long thought to have no natural resources. Let our leaders handle the diplomacy and let our engineers do the quiet work, 

Ok folks, that’s all from me today. Have a great week ahead!

Post Evaluation SREITs Mini-Rally- Are They Still Cheap?