Phillip 3Q24 Singapore Strategy - Phillip Securities 2024-07-02: Seizing The Yield

Phillip 3Q24 Singapore Strategy - Seizing The Yield

Singapore Market Strategy - Phillip Securities Research | SGinvestors.ioDBS (SGX:D05) OUE REIT (SGX:TS0U) CROMWELL EUROPEAN REIT (SGX:CWBU)
  • We added OUE REIT (SGX:TS0U) to the Phillip Absolute 10 portfolio of Singapore stock picks due to its attractive dividend yield of almost 8% and 50% discount to book on its Singapore assets. We removed Thai Beverage (SGX:Y92) due to the overhang from higher alcohol duties.


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  • Yangzijiang's share price chalked up a stellar performance, with container freight rates surging 75% over three months.
  • Seatrium's share price was spooked by new investigations related to Brazil. This was despite securing multiple new contracts, including two FPSO contracts worth S$11bn.
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  • US equities, namely technology, continue to outperform against major asset classes.
  • Outlook:

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    Above is the excerpt from report by Phillip Securities Research.
    Clients of Phillip Capital may be the first to access the full report in PDF @

    Paul Chew Phillip Securities Research | 2024-07-02

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