Iggy the Investing Iguana

Why Vicom & UOI Dividends May Be "One-Off" Mirages (SGX Daily Pulse 23 Feb 2026) | 🦖 EP1441

I have been watching the STI cross the 5,000 mark this past week, and something deeply uncomfortable clicked for me. The kopitiam cheers are getting louder, but the dividend math for our favorite local yield plays is quietly breaking down. The headlines tell you that companies like Vicom and UOI are iron-clad dividend champions.

But here is the uncomfortable truth. When you strip out one-off gains and audit the actual payout ratios against core earnings, you find a massive forensic gap. Some of these yields are basically capital refunds disguised as recurring income. If you are sitting in Woodlands or Sembawang relying on these specific payouts to cover your fixed expenses or fund your CPF, this audit is directly for you.

You need to know if your yield is built on bedrock or borrowed time. If any of this resonates with where you are right now, the full forensic breakdown is waiting for you below. As always — do the hard work before the market opens on tomorrow.


📺 YouTube: https://youtu.be/Rxzeb39z57U
📩 Substack: open.substack.com/pub/investingiguana/p/daily-puls…

1 hour ago | [YT] | 0

Iggy the Investing Iguana

Parkway Life REIT Analysis: Is the 26.7% Downside Risk Real? | 🦖 EP1440 #investingiguana

🟩 Parkway Life REIT is currently facing a massive, structural divergence between machine algorithms and institutional smart money that could trap the unwary retail investor. While quantitative models on InvestingPro flash warning lights over short-term liquidity, DBS Bank has just issued a landmark ten-year vote of confidence in the trust’s structural survival. Understanding this gap is the difference between panic-selling a defensive fortress and recognizing a once-in-a-decade refinancing masterclass.

Read the full in-depth article with video at
YOUTUBE ➡️ https://youtu.be/bjGiS3oWo20
SUBSTACK ➡️open.substack.com/pub/investingiguana/p/the-chicke…

23 hours ago | [YT] | 2

Iggy the Investing Iguana

Why OCBC at $21.78 is a Concentration Trap (Weekly Stock Gainers & Losers) | 🦖 EP1439

🟩 The Straits Times Index has finally breached the psychological 5,000-point ceiling, but a forensic gap is widening between this record elevation and the decaying Net Interest Margins of the banks hauling the index upward. While the "Fire Horse" momentum of 2026 suggests a breakout, the data reveals a market fueled by MAS liquidity injections rather than global sector strength. In this environment, the difference between a structural rally and a liquidity-induced trap is the quality of the staircase you are climbing.



We audit this peak using the 150 bps yield spread rule against the 4.0% CPF SA floor, examining whether the current banking rally is creating a dangerous concentration trap for retirees. From Jardine Matheson’s artificial price floor to the order-book visibility of Yangzijiang Shipbuilding, we apply the SAN (Sleep-At-Night) Score to determine if these gains are sustainable or a signal to retreat to the Iron Bastion. This isn't about chasing green candles; it’s about auditing the solvency and free cash flow coverage of your income stream before the 5,000-point floor is tested.

Read the full in-depth article with video at
YOUTUBE ➡️ https://youtu.be/SVcYu1U5Mck
SUBSTACK ➡️open.substack.com/pub/investingiguana/p/sti-5000-b…

2 days ago | [YT] | 0

Iggy the Investing Iguana

Singapore Property 2026: Why 13,500 MOP Units Will Impact HDB Prices (Analysis) |🦖EP1438

🟩 The gap between headline-driven kopitiam panic over global trade wars and the actual movement of institutional capital in Singapore’s 2026 property market is widening. While retail investors freeze at the sight of international volatility, a massive domestic wealth transfer is quietly shifting the floor of the residential sector. This is the forensic tension between the noise of the "Fire Horse" year and the hard math of your retirement cash flow.



This audit deconstructs the structural risk of the upcoming 13,500-unit MOP wave and the mathematical reality of negative yield spreads against the 4.0% CPF risk-free floor. We stress-test the Singapore Overnight Rate Average (SORA) trajectory and analyze why the narrowing price gap between the Outside Central Region (OCR) and Core Central Region (CCR) is a historical anomaly that indicates a mispricing of suburban assets. Understanding the 150-basis point safety threshold is the only way to determine if your property is an investment or an act of charity.


Read the full in-depth article with video at
YOUTUBE ➡️ https://youtu.be/fFzJ7AHxmDc
SUBSTACK ➡️open.substack.com/pub/investingiguana/p/singapore-…

2 days ago | [YT] | 0

Iggy the Investing Iguana

The 5 Dimensions of Your New Research Engine 🦎

I wanted to take a moment to share something with you directly.
Over the past few weeks I have done a significant overhaul of the entire research and content production system behind The Investing Iguana.
Every Substack deep-dive you receive from this point forward will be meaningfully more detailed than what you have seen before. Here is specifically what that means in practice:

Every data point in every article will now be analysed across five dimensions — the raw figure, its historical context going back three to five years, a peer comparison against sector competitors, a forward scenario showing what happens if conditions improve or deteriorate, and a direct wallet impact statement for a Singaporean investor managing CPF and SRS funds.
Every article now has a minimum analytical depth standard. No more thin analysis dressed up with formatting. The forensic work goes deeper before anything gets published.

The research feeding into each article is now structured specifically to match the analytical framework — which means the gap between what the data shows and what ends up in your inbox has been significantly tightened.
For the Elite 170, this means your Exclusive deep-dives will be the most analytically rigorous content I have ever produced. For daily digest readers, it means even the quick morning pulse will carry more forensic weight than before.

This is not a marketing announcement. It is a commitment. The standard has been raised and you will see it in the work.

As always, if there is a specific stock, REIT, or macro topic you want me to apply this upgraded framework to first — drop me an email. Your requests directly shape what I prioritise.

Thank you for being part of the Inner Circle.

Cheers,
Iggy 🦎

2 days ago (edited) | [YT] | 2

Iggy the Investing Iguana

Addvalue Tech Analysis: Why a 45% Upside Target Faces a 51.5% Valuation Gap |🦖EP1437

Addvalue Technologies is currently caught in a violent tug-of-war between a glowing "turnaround" narrative and a cold, quantitative reality. While analysts are hailing a potential 45% upside fueled by the satellite connectivity boom, the forensic math suggests a massive "Forensic Gap" where the market price has outrun the fundamental floor.



This analysis audits the "Connectivity-as-a-Service" model, stress-testing Addvalue’s high-margin IDRS system against its alarming InvestingPro Fair Value. We dive deep into the specific metrics that matter—examining why a 4/5 operational health score is being overshadowed by a 1/5 relative value rank and a governance fracture that saw 54% of shareholders reject management’s incentive plans

Read the full in-depth article with video at
YOUTUBE ➡️ https://youtu.be/rhIWG8Rjpbc
SUBSTACK ➡️open.substack.com/pub/investingiguana/p/addvalue-t…

2 days ago | [YT] | 0

Iggy the Investing Iguana

CDL & Far East REIT Analysis: NPI Drops vs 7% Yields (Audit) | 🦖EP1434 #investingiguana

🟩 Are Singapore’s hospitality REITs really booming, or are you looking at a dangerous mirage? In this new "Islandwide" edition, I break down why packed hotels, full tour buses, and record RevPAR headlines may be hiding a much colder reality on the balance sheet. If you are a retiree or pre-retiree watching the STI flirt with 5,000 points and wondering whether to chase yield or stay parked in your CPF at 4%, this session is built for you.


Read the full in-depth article with video at
YOUTUBE ➡️ https://youtu.be/e5lpYcS8yPM
SUBSTACK ➡️ open.substack.com/pub/investingiguana/p/cdl-and-fa…

3 days ago | [YT] | 0

Iggy the Investing Iguana

Is the STI 5,000 Milestone Sustainable? (SGX Daily Pulse 19 Feb 2026) | 🦖EP1433

🟩 The Straits Times Index (STI) has finally hit the 5,000-point milestone, and the market euphoria is real—everyone from the kopitiam uncles to the retail crowd is popping champagne. But while the mainstream media celebrates, we need to do a serious "vibe check." Trading on milestones is a dangerous game, especially if you’re in the Retirement Red Zone. The math doesn’t care about the celebration, and if you're buying in now just because of the hype, you might be setting yourself up to hold the bag when the forensic reality sets in.



In this deep dive, I’m peeling back the skin of this rally to reveal the "Second Engine" hidden underneath the banking sector's massive run. We’re going forensic on the heavy lifters like CSE Global (544.SI) and Yangzijiang Maritime (8YZ.SI) to see if their massive order books and buybacks actually translate to safe, intrinsic value. We’ll also audit the dividend safety of investor favorites like Micro-Mechanics (5DD.SI) and Keppel DC REIT (AJBU.SI) to determine if they are still "sleep-well" stocks or if the AI hype has made them too expensive for a conservative portfolio.

Read the full in-depth article with video at
YOUTUBE ➡️ https://youtu.be/pnnrfxRhwJQ
SUBSTACK ➡️ open.substack.com/pub/investingiguana/p/is-the-sti…

4 days ago | [YT] | 1