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Its current yield-spread of 370bps over Singapore's current risk-free rate of 1.8% is quite attractive given the regulated nature of the business and high visibility of its distributions.
5.5% yield attractive in the new environment
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Singapore's 10-year government bond yield has dropped by 70bps in the last six months and 30bps in the last three-months. This is especially positive for a regulated business like NetLink NBN Trust (SGX:CJLU), which trades at a certain yield-spread over the risk-free rate.
Yield spread of 370bps is attractive vs. four-year average yield-spread of 320bps.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Maintain BUY with a higher target price of S$1.08.
- Read more at SGinvestors.io.
Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.
Sachin Mittal DBS Group Research | https://www.dbs.com/insightsdirect/ 2025-10-22
Read also DBS's most recent report:
2026-05-19 NetLink NBN Trust - 6% Yield Largely Insulated From Macro Outlook.
Price targets by 3 other brokers at NetLink Trust Target Prices.
Listing of research reports at NetLink Trust Analyst Reports.
Relevant links:
NetLink Trust Share Price History,
NetLink Trust Announcements,
NetLink Trust Dividend Payout Dates & Corporate Actions,
NetLink Trust News
