YZJ Shipbldg SGD

Iggy's Journal: Starting the Week a Little Sore

7 September 2026, AM

Market Data

Quiet start, genuinely. US markets are shut today for Labor Day, so there's no fresh overnight print to react to, last real session was Friday, and I covered that in Saturday's post. What's new since then is mostly the weekly wrap. The STI closed out its first week of September up 46.60 points, 0.81%, with Yangzijiang Shipbuilding, Hongkong Land and Singtel doing the heavy lifting Friday. Separately, MAS's own survey of private economists just showed the odds of a S$NEER tightening move in October climbing to 45%, up from 30% back in June, alongside an upgraded full year GDP call. Worth watching, not reacting to yet. One thing I'm not going to state with confidence today, there's conflicting reporting on what's actually happening in the Gulf right now, some sources say tensions have eased, others describe an active disruption to tanker transit through Hormuz. I'd rather flag that I don't have a clean answer than pretend I do.

My Personal Take

Still feeling Saturday's leg day if I'm honest, walking down stairs this morning was its own little cardio session. Nice quiet Monday to ease back into it though, no SGX today either with the US holiday knocking the usual rhythm off. Been sitting with that MAS survey number over coffee, 45% is not a coin flip, it is not a certainty either, and that in-between zone is exactly where I find myself rereading the same paragraph three times. Nothing urgent to do about it today. Just filing it away for now.

Not financial advice. Iggy's Forensic Compliance Standards apply.

Cheers, Iggy 🦖

$YZJ Shipbldg SGD(BS6.SG)

My take on $YZJ Shipbldg

I’ve been adding $YZJ to my portfolio, and I’m liking what I see so far.

The dividend yield is decent, earnings growth remains healthy, and it’s shaping up to be a solid blue-chip contender worth watching, especially for income+growth investors.

Closed my latest trade with a small but satisfying gain. Nothing crazy, but consistent wins add up over time.

Would love to hear your thoughts — are you bullish on YZJ too?

The quarterly earnings season has been in full swing over the past week. Despite similar performance, it's a world apart from July.

This week, the focus is on Thursday's FOMC meeting. We've noticed the 10-year US Treasury yield oscillating at high levels and could break out upward at any moment.

This is a risk factor.

🦎 ANALYST WATCH | 14 AUGUST 2026

BS6 YANGZIJIANG SHIPBUILDING

WHAT THE ANALYST SAYS

UOB Kay Hian says first half results materially exceeded expectations, maintaining BUY and lifting its target price to S$5.30. Net profit rose 28.4 percent year on year to 5.37 billion renminbi, about 55 percent of the full year forecast. Revenue grew 36 percent to 17.5 billion renminbi, helped by an initial contribution from the still under construction Hongyuan yard, expected to complete by the end of this year and contribute roughly a fifth of group revenue once fully running in 2027. Gross margin expanded to 36.2 percent on a favourable order mix and the progressive recognition of higher priced 2023-24 contracts.

The net orderbook stood at 22.4 billion US dollars, broadly unchanged from the end of last year despite strong deliveries, with yard slots effectively booked through 2029. Management reported 1.96 billion US dollars of new contracts in the first seven months of the year and remains confident of hitting its 4.5 billion dollar full year order target. Average vessel prices have eased about 5 percent from 2023-24 peaks, but management says the company is still winning contracts near peak pricing on its execution reputation, and does not intend to compete on price over the next two years.

UOB Kay Hian raised its 2026-28 earnings forecasts by 11 to 22 percent on this outlook, and projects forward dividend yields of 6.1 to 6.9 percent assuming a 50 percent payout ratio.

NOTE

The dividend yield figures are UOB Kay Hian's own forward projections, not confirmed company guidance. For the full report, check UOB Kay Hian's published research or your broker platform.

Not financial advice. Iggy's Forensic Compliance Standards apply.

This post marks the conclusion of my $YZJ Shipbldg SGD(BS6.SG) trade with the selling of the last 10% of my position yesterday (13 Aug) at 4.74.

I decided to close my position and lock in profit as funds seems to be flowing back to the US. I am still observing the current price action as it still looks ok with the closing at 4.62 today, between the upper Bollinger band and the 5EMA with an average trading volume.

Tensions in the Strait of Hormuz continue to escalate, with shipping traffic at a three-month low and conflicting signals from both sides regarding an end to the conflict; oil prices still fell 2.1% to $87.07.

Gold saw slight gains, while the US dollar remained weak.

The situation is not optimistic; hold some cash and keep safe-haven precious metals on hand for emergencies.

The inflation numbers are out and both CPI and PPI are looking favourable. The markets like them and are trending higher as a result.

The overall market is taking the inflation numbers in its stride and liking it. Price action leans bullish and the number of bears still being around and vocal gives it an even more bullish nuance.

With CPI and PPI out of the way, it is back to earnings for the remaining companies. Interesting to see if there will be a pullback from all time highs or we go higher from here.

I still like Yangzijiang Shipbuilding (SGX: BS6) fundamentally, but at today’s ~S$4.66 I would not chase it with a large purchase. The price has moved very quickly after the excellent 1H26 results. As of 10:51am today, it was around S$4.66, already close to its recent high.