Got Conned By A "Financial Planner"- The New Scammer Operation.

A week ago, I received a phone call from a "Wealth Planner" from Singlife who claimed that I have signed up for a free blue-tooth enabled wireless ear-piece set. All I have to do was to meetup this Wealth Planner and then collect it. This triggered off my memory of another similar incident earlier this year. In January 2026, I have also received such call from a lady who proclaimed the same assertion. My response then was that I don't recall ever signing up for such promotion and hence not going, the financial planner quickly told me it is a free gift and I just have to turn up for an appointment. When I insisted that I do not want to go, the financial planner tone change immediately into frustration and said that the gift is free and she cannot understand why I am not interested to even go to meet-up. Thereafter, she ended the phone conversation rudely. 

1. Decided to Give a Chance- Meet-up with New Financial Scammer Planner 

Anyway, back to this latest fiasco. This Wealth Planner offer the same free-ear piece meet-up ruse. Since I have free time and also wanted to learn more about the latest investment products, I decided to accede to the meetup request. For ease of reference, I will give this Wealth Planner a fictitious name called "Ryan". 

I told Ryan to meet me up at Toast Box near my workplace during lunch for further discussion.

When I reached, Ryan was already there. He quickly took out his gigantic tablet and asked me what insurance policies do I have with Singlife and that he is actually an independent financial advisor who represents a number of insurance companies such as Income, HSBClife, Tokio Marine Life etc. I was thinking whether I need to buy some coffee for both of us since I sense that this Ryan is the type who will only buy his customer drinks if there is a confirmed deal but he seems very anxious to present his sales products immediately and being polite, I decided to let him carry on first.

After seeing that I already have many insurance policies from critical illness, H&S, PA, income replacement policies, Ryan changed tactic and showed me a list of financial needs, namely, (i) Insurance, (ii) Savings, (iii) CPF & (iv) Investments and asked me directly to tell him what I need.  I was flabbergasted at that juncture and thought how come Financial Planner work in such a manner that is so unprofessional. 

2. Investment Recommendation by Financial Scammer

My reply to Ryan latest query as above mentioned is that I am more interested in investment and that my preference is more of income-focused type.

Ryan immediately flashed a 7% dividend yield ILP and began marketing it to me. Ryan also told me that this product apparently got 20% bonus upfront for the 1st year premium of S$20K. I told Ryan that I have serious doubt of a financial product that can give 7% dividend yield constantly every year. Only then did Ryan clarified that part of the "dividends" will be paid out of capital....OMG!

Seeing that I am not interested, Ryan quickly whipped up another ILP from Tokio Marine Life, that has a Japan focused theme fund that pays out high dividends and also double digit growth for past few years. I told Ryan that I have my reservation about Japan that had a lost decade due to deflation and most recently, high inflation and probably stagflation in future. Also, one of the top 10 investment of this fund has Toyota which has been losing lots of global market shares to China electric cars and that I am really struggling to take this product up.  

It does not end there, Ryan along with his indomitable spirit quickly recommend that he got ILP that will allow me to choose and customise my own unit trust funds. Next, I asked him this question: "If I can choose and customise the funds, then what is the initial cost as well as annual management cost of this ILP? Will this be similar or cheaper than the digital wealth management platform of Endowus?" 

3. Financial Scammer Beating Hasty Retreat

Ryan did not address my question directly. Instead he suddenly began packing his gigantic tablet and told me that he got another urgent appointment and that he will send some of those previous proposals presented to me for consideration (deep in my heart, I knew that he was just lying through his teeth about sending those proposals to me) and then suddenly disappear from Toast Box in the blink of an eye and I found myself staring into thin air. This Ryan was actually a magician! 

Parting Thoughts

Well, I think this meet-up is a total waste of time. But I kind of half expected it. In a way, I think that some wealth planners like Ryan actually needs to be sent back to financial planning courses as the way he approached it haphazardly seems to be more of with an overwhelming interest to sell products and taking commission rather than analysing what a prospective client really need. Last but not least, beware of the free blue-tooth ear piece ruse....haha! 

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

Investment Portfolios Updates (10 April 2026) - Net Investment of S$931K and Projected Annualised Passive Income of S$53K.

It has been some time since I last updated my portfolio. Unfortunately, not much difference for my portfolio growth as my SREITs got hammered down badly again from the global oil crisis triggered by the US-Iran war. As of this post, the Straits of Hormuz whereby 20% of the World's oil supply are being shipped from the Middle East remain blocked. Previously, Iran allows countries which paid extortion fees of US$1 per barrel of oil (total as much as US$2Mil per tanker which carries up to 2 million barrels) via crypto currency to cross however, crazy Donald Trump has setup a US Naval blockage to stop all such ships in order to prevent Iran from monetising and profiting self-proclaimed protection fees. 

Nevertheless, I managed to improve my projected dividend income this year by switching lower yield Keppel Ltd, Capitaland China Trust and Ping An Insurance Group for Link REIT which has a higher yield of 7%. This will be an average yield per month of S$4.4K. Please see my further elaboration in my margin Portfolio 2 below.

1. Portfolio 1- Stocks Held in SGX Central Depository 

Finally took profit off Har Paw Corporation by selling all my shares to realise 100% profits. Have re-invested in Genting Singapore which is currently at its 52 week low price. With Genting capital expenditure of US$5.3 billion for waterfront expansion, it will continue to attract tourists. 

2. Portfolio 2- Margin Purchased Securities
(Note: My margin purchased securities has grown to a sufficient scale to sustain itself and can pay off annual financing charges as well as to gradually pay down the margin loan through the dividends generated.) 

Keppel Ltd and Ping An Insurance Group has enjoyed close to 90% to 100% capital and dividend  gain and its dividend yield has thus dropped significantly relative to my original investment cost. I have sold off part of my stake in Keppel Ltd and all my Ping An Insurance stocks and bought Link REIT which was offering dividend yield of close to 7% and way below its NTA per unit. 

Additionally, I have sold off all my Capitaland China Trust earlier this year and switched to Link REIT.

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

(Venture into higher risk as well as capital growth stocks here)

Bought additional Link REIT here and also bite the bullet and sold off bulk of my Oceanus shares.

4. Portfolio 4 (Endowus Unit Trusts & Other Investments)

Took quick profits off my gold fund. Also took out S$10K for my personal use due to an urgent need to do some home enhancement via my Endowus Pine Asia Pacific Bond fund.

Parting Thoughts

To be honest, I am extremely disappointed that the SREIT rally since Q4 2025 has now reversed due to the global oil crisis and seems that I am back to square one. The consolation is that many stocks and REITs are now at a huge discount. Have thus took this opportunity to buy more equities with a view to be cautious since the oil crisis will get worse and we are staring at the probability of a deep global recession.

Trump and Iran Need To Sit Down To Talk And Stop The Senseless Fighting and Blockage of Hormuz.

Donald Trump act blur again. How can a ceasefire not include his best friend from Israel which just intensified its bombing on Lebanon? Iran also desperate until it decides to weaponize the Straits of Hormuz against the whole world to exert pressure on the Global Economies. Totally no respect for the Law of the Sea for international navigation through straits. Now it even wants to blackmail countries into paying toll for safe passage through the Straits of Hormuz. How is this different from piracy?

US and Israel started this war and are now finding it extremely painful to end it. Makes one wonder what are their real military objectives in the first place? Iran is still shooting ballistic missiles and launching drones non-stop at everybody- they seemed to have an endless supply of them hidden deep underground. Many ordinary folks in Iran and Lebanon have been killed in this war, it is time to end the violence and senseless bloodshed. Donald Trump need to wake up and stop his Art of the Deal nonsense and negotiate a peace settlement in good faith.

Personally, I think that Trump had already TACO on this painful war that is going to make his life extremely miserable once his Republican party lose big during the upcoming mid-term election. Nevertheless, US not continuing the war does not mean that this war is over since the Straits of Hormuz is now being used by the Iranians to restrict the amount of oil that gets out. For local holding onto SREITs, the rally from Q4 2025 is gone and now back to square one. Interest rates will also start to rise again as evident from recent hints given by the US Federal Reserve folks.  

Capitaland Ascendas Rights Issuance Via CDP Account Instead of ATM.

With the 2 weeks ceasefire just announced between US and Iran and the Capitaland Ascendas REIT ("CLAR") rights issuance price of S$2.35 per unit against market price of S$2.57 per unit as at April 8, 2026 (Wednesday), this is an immediate capital gain of S$0.22 per unit or +9.36%. I thought that it is a no-brainer that everyone will rush in to subscribe for their allotment. Looks like getting excess units will be extremely challenging. 

1. Personal Thoughts On Buy Or Skipped Rights Issuance?

Please read my previous post here: 

Capitaland Ascendas REIT Rights Issuance in Midst of US-Iran War-Subscribe Or Wait?

2. Use CDP Investor Portal To Purchase Instead of Via ATM

This is my first time using the CDP Investor Portal for purchase and I decided to try it for the convenience since it means one does not need to walk to the nearest ATM machine anymore. I noticed that the CDP instruction guidance on the instruction booklet and CDP website is neither user friendly nor intuitive. I will do a quick walkthrough here in this section:   

2.1 Go to https://investors.sgx.com/

2.2 Next, scroll down to find "Today's Highlight" section and therafter "Corporate Action Submission"

2.3 Click on "View full list" if you cannot see Capitaland Ascendas

2.4 Click on Capitaland Ascendas

2.5 Now you will see the Corporate Actions Form Submission for Capitaland Ascendas REIT

2.6 Scroll to bottom to click on "Proceed to log in" using Singpass

Thereafter, just follow the instruction to key in the total number of units (Allotted Plus Excess) and presto, the QR code for PayNow will appear for your payment using your banking App. 

Parting Thoughts

The management of Lendlease Global Commercial REIT must be very upset at their tragic and unfortunate twist of fate during their just recent rights issuance exercise that only has 62.2% subscription. Looks like the rights issuance exercise of CLAR will be hotcake with more than 100% excess being subscribed. 

Donald Trump Unhinged Lunatic- The Opening of Straits of Hormuz Deadline Or Destruction of Iran?

What a week it had been! Iran shot down a US F-15 fighter jet and then there was the subseqent dramatic rescue of the downed aircrew by US Commandos deep in Iran's territory. Strangely, Trump and his Secretary of War (formerly Secretary of Defense before the renaming of this post) have terminated a number of US generals in the midst of the war with Iran. Rumour has it that these were the generals that were against the ground offensive initiative by Trump and Pete Hegseth. In the meantime the vital oil channel, the Straits of Hormuz remains shut off with Iran only allowing a few ships to pass through it. 

Deadline up to Tuesday for Straits of Hormuz to Reopen.

Trump's gave new deadlines (yes, keep repeating the same thingy) for the opening of Straits of Hormuz for Monday (6th April) and then now Tuesday (7th April) else the US will unleash hell on Iran. Trump  had told Iran to “open the f***in’ Strait” or face “living in hell” in an extraordinary swear-laden rant on Sunday.

But, I don't think the Iranians will budge. In fact, the Iranians have stated that they will only consider stopping the war if there is a change in regime in US, that is, a government without Donald Trump before they will negotiate.

European Union and Other Allies Cutting Deal With Iran Without US

Macron, the president of France, has made a good speech recently.  He said that countries should avoid dependence on China's “dominance” and exposure to what he called the “unpredictability” of the United States.

In the meantime, many countries have been cutting deals with Iran to allow some of their ships to pass through unharmed in the Straits of Hormuz.

Additionally, UK has convened a meeting of over 40 countries from every continent of the world, as well as key international organisations including the International Maritime Organisation and the European Union regarding the Straits of Hormuz closure by Iran. The key points being discussed:

(a) Increase international diplomatic pressure, including through the UN, to send clear and co-ordinated messages to Iran to permit unimpeded transit passage through the Strait of Hormuz and to comprehensively reject the imposition of tolls on vessels which seek to pass through.

(b) Explore co-ordinated economic and political measures, such as sanctions, to bear down on Iran if the Strait remains closed.

(c) Work together with the International Maritime Organisation to secure the release of thousands of ships and sailors trapped in the Strait and get shipping moving again.

(d) Joint arrangements to support greater market and operational confidence. This includes working with shipping operators and industry bodies to ensure coherent and timely information sharing.

Parting Thoughts- Investing During War Time

I think that there are signs of improvement in the global oil disruption from the closure of the Straits of Hormuz by Iran with many countries starting to kick off solutions discussion. As such I will be making some additional investment into equities this week. Saying that, no one knows exactly what the unhinged Donald Trump will do next and global markets may crash further. Good to keep some dry powder in such an event. Ok, that's all from me today. Have great week ahead!

Donald Trump Going For Ground Invasion Of Iran To Intimidate Submission.

Wow, Donald Trump has done it again with the activation of troops such as the elitie US 82nd Airborne division. I don't think Trump will be silly enough to invade the entire Iran as the soldiers needed to take-over a 90 million population will be too massive. Also, Iran is protected by the Zagros Mountains to the west and Elburz Mountains to the north, with massive central deserts creating a virtually impassable barrier. Instead, Trump maybe tempted to take-over the Kharg Island from Iran whereby 90% of Iran's oil exports pass through it. Kharg island sits offshore with waters deep enough to load product onto tankers known as Very Large Crude Carriers (VLCCs), which can hold around two million barrels. This will be a strategic move to choke off Iran's oil revenue by cutting off its oil exports in order to pressurise the government of Iran to accede to US demands such as opening the Straits of Hormuz for ships and tankers to pass through.

Anyway, if boots on the ground were indeed deployed by Trump, it heightens the chance of mass casualties and may just sink his remaining presidency term into oblivion. There are already "No Kings" protests & rallies in US. Global stocks also continue their free fall which will certainly worsen once news breakout of the ground invasion.  

In the meantime, oil prices continue to shoot past US$100 per barrel while Donald Trump continues to negotiate "directly and indirectly" (whatever that means) with himself, I mean Iran. 

Capitaland Ascendas REIT Rights Issuance in Midst of US-Iran War-Subscribe Or Wait?

I nearly fainted when I read that there is another upcoming rights issuance exercise from another SREIT that I have held onto for many years, that is, Capitaland Ascendas ("CLAR"). This is coming off from the disastrous rights issuance exercise by Lendlease Global Commercial REIT (LREIT") with only a pathetic 62.2% take up rate. LREIT was thus heavily undersubscribed and the joint underwriters, DBS and friends, were forced to fork out S$74.3mil to take up the excess units that nobody wanted. Now, we have CLAR coming along to join in the fun during the midst of the US-Iran Middle East war. I would say that the timing is awful but then, CLAR is in a better state than LREIT as it is a giant REIT with 222 investment properties as at 31 December 2025 while LREIT on the other hand has only 4 investment properties or 5 if you count in its minor stake in Parkway Parade. To put it simply, CLAR is a very well run government linked blue chip REIT that can weather any storms relative to the smaller REITs. 

1. Should One Subscribe for CLAR?

Personally, I think that the price of CLAR has been quite stable and hovering around the S$2.50 per unit level since its announcement of the rights issuance. This is testament to the strength of CLAR in the eyes of general investors. So, I guess it is a no brainer to subscribe for one's own allotment to prevent dilution. 

The new investment properties to be purchased are also of good quality in particularly, the one at Singapore Loyang. Interestingly, Toll Logistics Group is planning to offload their famous Loyang Off-Shore Supply base to CLAR via a long term 12 years triple net sales-and lease-back agreement. If I recalled correctly, Toll Logistics Group ultimate owner is Japan Post Holding hence the quality of rental income from this distinctive tenant is top-notch.  

Toll Offshore Petroleum Services (TOPS) at Loyang

As for excess subscription, it really boils down to how the Middle East war will turn out over the next one week to judge market sentiment and downside risk. 

2. Key Information Highlights- Retail Investors Rights Issuance Tranche.

In connection with the Preferential Offering, the Manager intends to issue Preferential Offering Units to Eligible Depositors (as defined herein) and Eligible QIBs (as defined herein (collectively, the “Eligible Unitholders”) on a pro rata basis in respect of their existing Units (the “Existing Units”) held as at 5.00 p.m. on 1 April 2026, being the record date in relation to the Advanced Distribution and the Preferential Offering entitlement (the “Record Date”). 

The allotment ratio for the Preferential Offering will be announced by the Manager via SG XNET (pls post the link to this post for those who already saw the announcement released-updated March 31, 2026- 28 Units for every 1,000 units). 

As for the Preferential Offering Issue Price, it has been determined to be at the lower end of S$2.35 per unit.

As at March 30, 2026

As at March 31, 2026

3. Indicative Timeline of Key Events:

Rights application will open on 9am of 7 April 2026 (Tuesday) and end by 5.30 pm of 15 April 2026 (Wednesday). 

Parting Thoughts

I like the new investment properties such as data centre in Japan as well as good quality master tenant from 25 Loyang Crescent that forms the basis of this rights issuance exercise. I will most probably be taking up excess rights on top of my normal allotment.