Investment Portfolios Updates (13 July 2026) - Net Investment of S$945K and Projected Annualised Passive Income of S$49K.

Hi Folks, welcome back to Investment Income For Life. Well, not much changes to my tragic & miserable career while praying for a huge retrenchment package during an upcoming corporate M&A integration exercise. The only interesting thing that happened to me is that my luck has improved a bit. I am extremely happy with the recent S$10Mil plus Toto draw- I managed to strike 3 Prize 6 and 1 Prize 7 for a total of S$85 win with an investment cost of S$35...haha! Anyway, it has been 3 months since I last updated my portfolios. Unfortunately, not much changes to my overall portfolios valuation. The US vs Iran "on and off" war has the stock markets going up and down like a see-saw. Another reason is the prolonged slump in SREITs that continued to have a huge drag on my portfolios. As you all can see, more than 50% of my portfolios are tied up heavily in real estate related equities. My investments into Technology and AI stocks made up about 15% of my overall gross portfolios and are concentrated in the Hong Kong Stock Exchange (Alibaba, JD.com & BYD) as I am worried about the overvaluation in US AI play thus staying far far away.

1. Portfolio 1- Stocks Held in SGX Central Depository 

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.) 

The long term plan was to pay down the margin loan. However, events proved too tempting during the recent price correction. Hence drew down additional S$10K of margin loan.

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

Bought additional 300 shares of Alibaba at HK91 to HK107 per share when 9988 crash recently. It has since recovered to HKD110 per share as at 14 July 2026. Also took some profits off Link REIT and used the proceeds to purchase 200 shares of BYD at HKD91 per share during the recent Hong Kong Tech stocks slump.

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

The overall portfolio value grew by S$8,550, rising from S$111,386 to S$119,936. This growth was primarily driven by targeted capital additions across several Endowus funds, while the quantity of NTUC Income Shares remained unchanged.

Parting Thoughts

While many investors have proclaimed more than 100% massive gain in capital from investing in memory stocks such as Hynix and Samsung, I will continue to minimise my exposure to growth stocks and continue my dividend investing path. Many of those who FOMO and jumped into the memory stocks bandwagon suddenly found themselves facing market crashes that has gone on for 2 weeks already. I guess I am lucky in the sense that my current holdings have already declined for years hence overall, my portfolios continued to hold well during this period of grave volatility. 

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.

Investment Portfolios Updates (31 Dec 2025) - Net Investment of S$930K and Projected Annualised Passive Income of S$49K.

Wishing all a Happy New Year and good health always! I guess it is not too bad that my net investment increased slightly to S$930K despite the decline in the Hong Kong Stock Exchange over the last 2 months. I am gearing up to hopefully cross the S$1Mil net investment mark by the end of 2026. This will be my 2026 new year resolution. Gross investments have so far crossed the S$1.2Mil milestone and I will be gradually paying down my margin loan using the passive income generated from the Margin Portfolio. 

1. Portfolio 1- Stocks Held in SGX Central Depository 

Not much changes to update here except that there is an upcoming rights issue for Keppel REIT. I may subscribe to a few units to try to round-up the units on hand to the nearest hundred for ease of future sales. I do not like the current rights issue which is very anti-loyal shareholders/unit-holders. There are enough write-up on this rights exercise by various finance influencers regarding Keppel REIT so I will not dwell on it-personally, I can only say that the management of Keppel REIT ought to be shot.  

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.) 

I think I need to stop buying HKEX stocks like JD here. The undervaluation in the China/HK market is too tempting and simply too hard to resist. Saying that, as aforesaid mentioned in the beginning highlights, I hope that I will have the discipline to just let the dividends pay down the debt so as to guard against potential spike in financing cost in the event that inflation went out of control again. I have no doubt that mass money printing by the US Fed is on the table again. 

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

I have sold off my US stock of United Healthcare Group after realising a small profit. I managed to get 300 shares of BYD at around the HK$94 per share price during the recent correction in HKEX. The price of BYD rebounded around 5% after BYD released a major software updates (God's Eye) to its vehicles which boost the appeal of BYD-made EV cars. After Christmas, the price of BYD went up and I thus decided adding on and instead went into accumulation of Link REIT which has dropped from HKD40 per unit to approximately HKD35 per unit. 

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

I have injected an additional S$10K-split equally among bonds and equities- into unit trusts in late December 2025. The pricing in this portfolio is at cost and does not reflect the upsides of around S$5K capital appreciation of the various funds. 

The surprise here is that the precious metal fund suddenly shot up by 20% within 2 months.

I currently have no time to do any market price true-up adjustment as Stock-Cafe does not have an auto-update feature covering unit-trusts- so it is simply too tedious to do manual update on all the individual funds. Will just leave it given that most of the funds I am holding onto are fixed income nature. 

Parting Thoughts

I will be adding a new portfolio 5 for Crypto investment if the amount starts to become material and go past S$5K. Currently, I am holding on to a tiny stake in Bitcoins when they drop below US$90K. Ok, that's all for today. Bye Folks and have a great weekend ahead! :)

Investment Portfolios Updates (31 Oct 2025) - Net Investment of S$910K and Projected Annualised Passive Income of S$48K.

A rising tide lifts all boats indeed. My net investment portfolio jumped by almost +S$100K within 2 months (from S$813K to S$910K) mainly due to the rise of Alibaba AI and Cloud play as well as the revival in Singapore REITs. Gross investment is now at another record high of S$1.179Mil.

1. Portfolio 1- Stocks Held in SGX Central Depository 

Not much changes here except for the higher market valuation. Unfortunately, there is very little changes in the amount of projected dividends.

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 has been delivering a super impressive profit growth of 25% (if we normalise and exclude the one-off recorded loss for sales of M1) for the 9mth ending 2025. In addition, have subscribed for 5000 excess units of Keppel Date Centre REIT ("KDC") and managed to get all- please see here for the past blog post I made.

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

Have foraged into an additional new stock BYD here that is manufacturer of EV cars and batteries. BYD is one of the few contenders out there (besides Toyota and CATL) that is on the verge of successful mass production of the next generation of EV solid state battery. Solid state batteries is the next stage evolution for EV or arguably the “holy grail” of EV which will enhance mileage by at least 50% and significantly improved recharging time-please refer to my previous post in 2018 regarding the first working prototype of solid state battery. Unfortunately, the mass production has been filled with enormous technical challenges hence mass market adoption projection is expected to be around 2027 or even 2030. 

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

I have added investment into 2 new unit trusts via Endowus, that is the (i) Allspring Global Equity Enhanced Income Fund and the (ii) Franklin Gold and Precious Metals Fund. 

Parting Thoughts

Currently, my growth strategy investment is on Alibaba and BYD in China market. I continue to stay away from the US market (except for a small stake in United Healthcare Group). Overall, I am still committed to my dividend passive income strategy and continue to build it up gradually by increasing stakes in Unit Trusts to ensure sufficient diversification. 

Ok. that's all for today Folks. Have a great week ahead!

Investment Portfolios Updates (29 August 2025) - Net Investment of S$813K and Projected Annualised Passive Income of S$48K.

Hi Folks, welcome back to my bi-monthly investment portfolios update. With the anticipation of the long awaited lowering of US interest rates finally having a high chance of materialising after Powell's recent speech, REITs' rally became more sustainable from the expected higher distributable income from much lower financing cost. Let's keep our fingers crossed that the September 2025 first rate cut of 25 basis points happen as per anticipation- I really have enough of the roller costal ride over the past year. With the recent strong rally from REITs, my overall gross portfolios hits S$1.08Mil while net portfolios after leverage hits S$813K. This is a drastic improvement of almost +S$80K in just 2 months from the market recovery. As a mainly dividend focused strategy investor, it is not this capital gain that excites me but rather the upcoming additional cashflow expected from the lower interest rate effect on my various investment portfolios and additionally, the significant savings from my margin loan. 

1. Portfolio 1- Stocks Held in SGX Central Depository 

Not much changes here except for the improved market valuation of equities during the recent rally.

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 and Lendlease continue to perform exceptionally well. The gross dividend yield is currently on the low side as Keppel Pacific Oak US REIT is still in the midst of distribution suspension and will only resume its payout in 2026. Also, there is around S$15K invested in Alibaba when its price drop below HKD110 per share recently.  

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

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

I continued to add to my Endowus bond funds of PIMCO and Pine APB to diversify away from excessive heavy weightage of my entire gross portfolios in equities. This may also be the last opportunity to accumulate interest income as former attractive bond interest yield is fast coming down. Going forward, I will also be drawing down the pay-out from this particular portfolio for daily uses. 

Parting Thoughts

Well, I am happy that the interest rate cuts from my wish list is finally materialising. Ok, that's all the updates I have for today folks. Have a great week ahead!

Investment Portfolios Updates (27 June 2025) - Net Investment of S$750K and Projected Annualised Passive Income of S$46K.

Singapore REITs suddenly sprang back to life with the anticpation of 2 more rate cuts in 2nd half of FY2025. More funds also moved from overseas markets into the local SGX. My gross portfolio managed to hit the above S$1.02Mil mark again albeit the see-saw ride from Donald Trump's erratic policies from import tariff fight with other countries (the most recent one is with Canada and sending US airforce to bomb Iran). Net investment (including cash) is approximately S$750K as at 27 June 2025. I guess this is not bad considering that I had cashed out S$10k from my unit trust bond funds for personal expenses usage.

1. Portfolio 1- Stocks Held in SGX Central Depository 

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 dividends generated.) 

Have continued paying down my margin loan from S$272K to S$267K. Going forward, will target to bring the margin loan utilisation down to S$250k hopefully by year end in case Donald Trump screw up the world economies again.

In addition, I have also sold off part of my Keppel Corp stocks (1,000 shares) as its price hit over S$7.35 per share to recycle the capital into Alibaba (9988).

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

I have added 400 shares of Alibaba when its price drop back to HKD110- HKD113 range over the past few months as it is now a cloud and also AI tech play on top of its usual core E-commerce business.

Also added 10,000 units of Lendlease Commercial REIT in end May 2025 when its price plunged to S$0.480 per unit. Its price has since recovered to S$0.525 per unit as at 27 June 2025.

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

I have taken out S$10K from my Higher Income Endowus portfolio for personal usage. Also did a bit of rebalancing and direct purchase of PIMCO bond fund as well as Pine Bridge Asia Pacific fixed income fund. 

In addition, decided to buy into the Fidelity APAC Dividend Fund to to reduce US equities exposure in my unit trusts portfolio as US market is way overvalued (near 52 weeks high and extremely high PE ratio for many US firms) right now. 

Parting Thoughts

I am keeping my fingers crossed that there will be at least 2 more rate cuts this year so that interest rates go down and REITs continue to increase their distributions.

Investment Portfolios Updates (9 May 2025) - Net Investment of S$723K and Projected Annualised Passive Income of S$47K.

Wow, it has been a long 3 weeks since my last post. I had been super busy for the past weeks with entertainment of overseas clients and execution of a major project at workplace. Finally have some moment now to catch my breath and also do a quick post. I don't think things are fine at all albeit Donald Trump claiming that US and China having a "total reset" of their acrimonious relationship during the Geneva negotiation over the weekend. Since the "Liberation Day" trade tariff announcement by Donald Trump on April 2, 2025, stock markets worldwide plummeted. Despite the subsequent pull back of the reciprocal tariff by 90 days (except for China) by Trump a few days later, the damage has been done. My gross portfolios were not spared and fell to below S$1Mil while overall net investment after netting off margin loan hovers around S$723K.

1. Portfolio 1- Stocks Held in SGX Central Depository 

Not much changes here while waiting for the storm to stabilise. May'25 and June'25 have a couple of dividends payment. Haw Par Corp also paying out its usual dividends plus a special dividend totalling S$1 per share on May 21, 2025.

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 dividends generated.) 

I closed off my ICBC China banking stock of 12,000 shares at 13% profit to reduce leverage. Also, sold off all my rights issue (2,000 units) from Frasers Centrepoint Trust to lock in the small profit. Margin loan has been reduced from S$291K to S$273k in view of the gloomy marco-economic outlook.

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

Interestingly, Link REIT, Alibaba and Bank of China rallied after the recent emergency meeting by the Chinese government. There are plans to include Link REIT to stock-connect-the inclusion of real estate investment trusts (Reits) in the China-Hong Kong Stock Connect mechanism will expand the investor base, increase the trading liquidity and attract more listings of these collective investment schemes to Hong Kong, analysts said.

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

I have reduced the equties funds (Fidelity Global Dividend Fund & Franklin Templeton) exposure and switched them over to the PIMCO Income bond fund which is offering an attractive annual yield of 6%.

Parting Thoughts

I do not think that Trump is going to drop the China Tariff by a lot. The Chinese government are in a stronger position and it benefits China to drag on the current standoff as it is obvious that Trump has screwed himself and is in hot soup over the lack of goods in retail stores and lack of China containers coming into US ports. 

Updates as at 12 May 2025: Speaking after talks with Chinese officials in Geneva, US Treasury Secretary Scott Bessent told reporters the two sides had reached a deal for a 90 day pause on measures and that reciprocal tariffs would come down by 115 per cent.

Investment Portfolios Updates (28 February 2025) - Net Investment of S$722K and Projected Annualised Passive Income of S$47K.

My total gross investment rebounded back to over S$1Mil while net investment after margin loan hovers around S$722K. While SREITs continue to perform miserably with a steep drop again recently, the overall portfolio was propped up by a sudden +S$30K rally in my China stock holdings of Alibaba, Ping An, Link REIT, Bank of China ("BOC") and Industrial & Commercial Bank of China ("ICBC"). 

1. Portfolio 1- Stocks held in SGX Central Depository 

Not much changes here except to mention about Haw Par Corporation which declared a special S$1 per share of dividends on top of the usual dividends. This announcement led to a sudden spike in the share price of Haw Par.

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 dividends generated.) 

Mapletree Industrial Trust ("MIT") crashed recently to below S$2 per unit due to analysts report that its US Data Centres will have tenants exiting and the vacancy will rise. This maybe a good opportunity to buy more of MIT which has a high distribution yield of 6.85%. Even with the upcoming fall in occupancy from its data centres in US, there will be enough buffer cushion for a 5.5% to 6% yield. The market perception of MIT prospects seems extremely pessimistic. 

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

Alibaba finally came roaring back to life after the Deep Seek. It has strangely morphed into an AI Tech company. 

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

I have continued to put in additional capital into the Endowus Higher Income Portfolio since the last update in December 2024. 

Parting Thoughts

I have approximately S$13.2K of dividends payment for re-deployment in March 2025. Out of these, I intend to utilise S$6.7K to pay down the margin loan. Another S$6.5K will be used for either reinvesting into SREITs which are at rock bottom or buying into Endowus bond funds. 

Investment Portfolios Updates (30 December 2024) - Net Investment of S$709K and Projected Annualised Passive Income of S$47K.

It has been 3 months since my last update of investment portfolios on 27 September 2024. The rally in S-REITs and China stocks fizzled out quickly in a short span and it seems that we are back to square one. Overall, real estate related investment assets still make up about 60% of my combined portfolios. I have continued to work on diversifying away from real estate related businesses and have continued investing into mostly bond related unit trusts via Endowus as well as buying into F&B retail business of Kimly Group. 

1. Portfolio 1- Stocks held in SGX Central Depository 
(Note: This portfolio is designed to provide immediate dividends for use as it is under my own CDP account and the dividends credited goes directly to my bank account.)

Main changes here as aforesaid mentioned is the addition of Kimly F&B retail group here. I have also took part in the preferential rights issue for Keppel DC REIT. I retained the additional units of KDC in my SGX account while selling off the additional units in my Margin Trustee account- see below.

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 dividends generated.) 

Took part in the preferential rights issue for Keppel DC REIT and then sold off all the 4,000 additional units in my Margin Trustee account and bought 5,000 units of Mapletree Pan Asia Commercial Trust. 

In addition, I also invested into the Bank of China as well as ICBC Bank here. 

3. Portfolio 3 (with Tiger Brokers and MooMoo) 

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

Bought into additional units of Oceanus here as well as ICBC (Bank). 

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

The public and government objection to the Allianz acquistion of Income Ltd means that the 300% capital gain deal fell into the drain. Worst still, the suspension of public trading of Income Ltd shares on Alta platform as at 17 Octobet 2024 is a double whammy due to the fallout from the Allianz deal. Income Ltd management team screwed up big time on this one.

I have also decided to start drawing down the dividends and distribution from Portfolio 4 going forward.

Summary

I sincerely hope that 2025 will be a better year and that the run-away inflation has been tamed and that interest rate will remain as it is else any increase in rates will once again batter REITs and bonds asset prices to death. 

Would also like to take this opportunity to wish all a Happy New Year and may we all prosper together in 2025! :)😎