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Continue reading →: Building a Durable Core S-REIT Portfolio in a Higher-Rate World: A Case Study in Risk & Resilience
A structured review of Singapore REITs suitable for core portfolios within a core-satellite strategy. Examines stability, income durability, sector exposure, and long-term risk considerations.
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Continue reading →: Mapletree Pan Asia Commercial Trust: Reassessing Stability Across Its Core Assets
Executive Summary Mapletree Pan Asia Commercial Trust (MPACT) (SGX: N2IU) has undergone a period of operational stress and portfolio recalibration over the past two years, driven by uneven recovery across its key assets in Singapore and Hong Kong. This article examines eight consecutive reporting periods to assess whether the trust’s…
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Continue reading →: NetLink NBN Trust: Assessing the Sustainability of Singapore’s Most Defensive Yield Play
Executive Summary NetLink NBN Trust (SGX: CJLU) occupies a unique position in Singapore’s equity market. As the owner and operator of the nation’s passive fibre network, it functions more like regulated infrastructure than a traditional growth business. Its cash flows are stable, demand is largely recession-proof, and its distributions have…
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Continue reading →: Seatrium: Signs of Operational Progress Amid Ongoing Market Caution
Executive Summary This article examines the evolving investment profile of Seatrium (SGX: 5E2), a Singapore-listed offshore, marine and energy engineering group that has moved from a survival-focused narrative toward one centred on operational delivery and execution consistency. Recent financial results, a substantial multi-year order book, and an improved balance-sheet posture…
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Continue reading →: Positioning for a Gradual REIT Recovery: Four Singapore REITs Under Review in Early 2026
Executive Summary As 2026 begins, the operating environment for Singapore REITs is showing signs of stabilisation. Interest rates have plateaued, financing pressures have eased, and expectations of a more supportive macro backdrop are gradually returning. Yet REIT price performance remains uneven, with sharp rallies in some counters and prolonged stagnation…
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Continue reading →: A New ASEAN Dividend ETF on SGX: Income Potential, Portfolio Risks, and What Investors Should Assess
Executive Summary A new ASEAN-focused dividend exchange-traded fund (ETF) is set to list on the Singapore Exchange, highlighting a broader trend toward income-oriented regional equity products. With a stated objective of delivering at least 6% per annum in distributions for 2026 and 2027, the launch is likely to attract attention…
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Continue reading →: Singtel’s Re-Rating After a Long Stagnation: Is the New Capital Strategy Sustainable?
Executive Summary Singapore Telecommunications Limited or Singtel (SGX: Z74) has experienced a notable share price re-rating after nearly a decade of underperformance, following a period in which investors questioned its ability to translate scale and assets into consistent shareholder returns. The shift in market sentiment has coincided with the introduction…
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Continue reading →: Are Years of Overseas Expansion Paying Off for Raffles Medical and Thomson Medical?
Executive Summary Raffles Medical Group (SGX: BSL) and Thomson Medical Group (SGX: A50) are two well-known Singapore-listed healthcare companies whose share prices have risen in the past year but remain largely flat over a longer five-year horizon. Despite strong domestic franchises, both stocks have underperformed the broader market over time,…
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Continue reading →: United Hampshire US REIT: Reassessing a Small, Defensive US Retail REIT After Its Early Stumble
Executive Summary United Hampshire US REIT (SGX: ODBU) is a small Singapore-listed REIT that has largely remained outside the spotlight since its difficult post-IPO period. Focused on grocery-anchored retail centres and self-storage facilities in the United States, it operates in property segments typically associated with necessity spending and defensive cash…
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Continue reading →: Two Dividend Stocks Undergoing Structural Reset: Valuation, Execution, and What Comes Next
Executive Summary Two Singapore-listed dividend-paying companies have undergone major structural changes over the past year, forcing investors to reassess how they should be valued going forward. Rather than facing business deterioration, both companies have deliberately reshaped their operating models through asset disposals, capital recycling, and earnings resets. These transitions have…
Independent research and analysis on Singapore-listed REITs and income-oriented investments, with a focus on long-term portfolio construction and income durability.
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Welcome to ‘The Dividend Uncle’s Take’ — where I share clear, independent insights on Singapore REITs, dividend stocks, ETFs, and income-focused investing. Everything I write is grounded in my own research and real investing experience. No hype — just long-term thinking and skin in the game. Let’s grow our income portfolios steadily, one dividend at a time.
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