Portfolio Update November 2025: Why I Bought SGX

November is coming to an end and markets have been hectic with noise about bubbles, crypto and rate cuts. My investments are much less of a thrill ride and more like simple, diligent housekeeping. This post will talk about my purchases this month and how they strengthen the foundation of my portfolio.

Yesterday, I executed my final trade for the month: adding to my position in DBS Group Holdings at $54.15. I am aware that I bought at an expensive price, but it's not something for me to worry about. Price is what you pay, cash flow is what you eat. 

Overall, this month I added shares in DBS, MIT, FCT and SGX. These shares are blue chip stalwarts that pay a fantastic dividend. SGX may be the odd one out, with its dividend yield of 2.4% being the lowest in my entire portfolio, but it's a stock that I've been particularly excited to purchase and talk about.

Brief Mention: MIT and FCT

I have added shares in both these REITs as their price has seen some weakness over the last month. Mapletree Industrial Trust in particular has seen a slight dip in DPU due to lower revenue on divestment, and their troubled data center portfolio in the USA.  My position in MIT could be a short-term pain for long-term gain as the REIT management navigates their North American headwinds, which this article explains really well.
 
The price dip in FCT can likely be attributed to the sudden shift in interest rate cut expectations. FCT remains a strong play on Singaporean suburban resilience. Their net income is growing and their malls remain packed. It's a classic steady performer.
 

Spotlight: Why I Bought SGX

This marks the first addition of SGX shares into my portfolio. One thing made me quite hesitant to add shares in this counter previously: "Why buy SGX when you can get 5% from banks and REITs? Its yield is only 2.4%!".
 
While high yields are attractive, growing dividends are the secret to beating inflation and building true wealth. SGX is a true masterclass in consistent dividend growth.  
from https://investorrelations.sgx.com/stock-information/dividends-splits
 
SGX is an exceptional company also in the sense that it is a true monopoly, with a "toll-road" model that collects trading fees on market activity regardless of whether markets are in a roaring bull or terrifying bear run. Recently announced measures to bridge SGX and NASDAQ listings are just another sign that management is actively working to boost liquidity and value.
 

SGX pays dividends quarterly, which I plan to re-invest and purchase additional SGX shares. Dividend growth from the company, coupled with compounding from reinvested dividends, would make SGX a formidable cash flow machine even with the starting yield of 2.4%.

Closing Thoughts

My portfolio is indeed boring and consisting of mainly STI components. But I am not exactly looking for thrills and excitement when I am dealing with my life savings.
 
Markets move in seasons; peace of mind is evergreen. With this month's purchases, I own a piece of Singapore’s biggest bank, a network of essential data centers, the malls my neighbors shop at, and the very marketplace where it all trading happens. These are fantastic, resilient businesses that are also foundational to my dividend portfolio.
 
Disclaimer: This article represents my personal views and portfolio actions. It is not financial advice. Please do your own due diligence before investing. 

Comments

Post a Comment

Popular posts from this blog

2025 Portfolio Review and Why I Don't Limit The Number Of Stocks Owned

2025 is in the books with only 2 and a half trading days left.  2025 is the year I initiated my dividend portfolio and embarked on this hopefully decades-long journey with dividend investing. My portfolio was steady and already printed cash like it was supposed to. In 2025 my  Net Assets  increased by 45%, of which around two thirds can be attributed to personal savings and one third can be attributed to investment returns (capital gains + dividends). Here is a breakdown of the number of dividends I can expect to receive by month next year: Jan: None Feb (3): Kimly, SGX, Suntec Mar (6): Keppel DC REIT, AIMS APAC REIT, PLife, CICT, MIT, MLT Apr (1): DBS May (7): DBS, OCBC, UOB, CLI, CDG, SGX, Suntec Jun (3): AIMS APAC REIT, MIT, MLT Jul (1): Kimly Aug (6): DBS, OCBC, UOB, CICT, CDG, Suntec Sep (5): Keppel DC REIT, AIMS APAC REIT, MIT, MLT, PLife Oct (1): SGX Nov (3): DBS, SGX, Suntec, Dec (3): AIMS APAC REIT, MIT, MLT I currently hold 15 individual counters, giving me...
Read more

Decoding DBS's FY2025 Earnings Call

Image
 This article was written with reference to DBS Media Briefing Transcript and Analyst Call Transcript for FY2025, which can be found at https://www.dbs.com/investors/financials/quarterly-financials During the DBS Full Year 2025 earnings call, CEO Tan Su Shan described the year using two specific words: A "Perfect Storm." She is entirely correct about the macro environment that our Singapore banks had to operate in. Benchmark interest rates (SORA and HIBOR) crashed by almost 2 percentage points. The Singapore Dollar remained brutally strong, hurting the translation of foreign earnings. Finally, the new 15% global minimum tax kicked in, slapping the bank with an additional SGD 400 million in tax expenses. DBS headline net profit fell 3% to SGD 11 billion. But if  you look at the actual operating engine, pre-tax profit rose to a record high of $13.1 billion . Total income grew 3% to a record $22.9 billion .  Deep Deep Deposits When interest rates drop, the textbook resp...
Read more

Decoding UOB’s FY2025 Earnings Call

Image
Writing this with reference to the Earnings Call Transcript posted here: https://finance.yahoo.com/quote/UOVEY/earnings/UOVEY-H2-2025-earnings_call-415512.html UOB just released its Full Year 2025 results, reporting a net profit of SGD 4.7 billion . Operating profit saw a slight 4% dip to SGD 7.7 billion . Here is my breakdown of the latest earnings call, and why UOB remains a core position in my portfolio Falling Rates But Rising Fee Income The market priced in severe NIM compression this year, but UOB's margins have proven stickier than anticipated. While full-year NIM settled at 1.89% , the downward trajectory has slowed. In fact, Q4 NIM ticked up to 1.84% (from 1.82% in Q3) , and management noted that as of end-January 2026, the exit NIM remains stable at 1.82% . This resilience is a direct result of active funding cost management . UOB successfully drove double-digit CASA (Current Account Savings Account) growth in its wholesale banking division . This influx of cheap deposit...
Read more