ThaiBev

🦎 IGGY MIDDAY BRIEF, 29 JUNE 2026

MORNING SESSION RECAP

STI opened at 5,201, above Friday’s 5,191 close. Early range is tight at 5,189 to 5,207, signalling no urgency to take direction on the second-last trading day of H1. Top actives are led by agricultural and consumer names rather than banks or REITs. My read is cautious consolidation near historic highs.

THREE STOCKS ON IGGY'S RADAR

👁 E5H Golden Agri-Resources, flat at S$0.270

High volume with no price movement suggests two-way flow at a contested level. Palm oil prices feed into regional food costs, while Brent crude sitting ~20–25% below last year’s peak has eased input costs. Whether this translates into margin recovery is the key question before considering it for income.

👁 Y92 ThaiBev, down S$0.010 at S$0.430

Early selling with over 10 million units traded. Earnings are Thailand-based, so SGD investors carry FX drag. With THB weakening alongside regional currencies against USD, income gets a quiet haircut before it reaches your account.

👁 A7RU Keppel Infrastructure Trust, down S$0.010 at S$0.535

SORA near cycle lows supports distribution coverage via cheaper floating-rate debt. The key question is whether yield is driven by contracted cash flows or balance sheet management. That distinction matters more in a low-rate environment.

MACRO PULSE CHECK

No Singapore data in focus. US futures not yet clear. Backdrop unchanged: STI near highs, SORA near lows, Brent ~20–25% below last year’s peak.

IGGY'S LUNCH TABLE VIEW

H1 closes tomorrow with STI near record levels. That is constructive, but it tightens entry points for income investors. I am watching whether REITs pick up volume this afternoon. Quiet at highs is not the same as safe. I am watching, not chasing.

in this uncertainty world of war and high oil price any recommended defensive and good dividend shares to look out for?I am looking at SRT,Y92,G13 for reference in Singapore only

Week 2 My Portfolio Health Check

Recovery in sight? 🤔

Awaiting Payday to buy more.

Tech + Drink + Phone

Week 4 – My Portfolio Health Check

1. A sudden jump in $ThaiBev(Y92.SG) price helped my over portfolio. They have recently reported better than expected profit margin and potential speculations of listing their Beer and Spirit businesses. Watch out for the breakout.

2. My biggest portfolio $Olam(VC2.SG) has consolidated slightly over the past week. I still believe it's potential especially Temasek holds around 52%. I expect special dividends is coming.

3. Recently added $ComfortDelGro(C52.SG) as the price dropped to very attractive price. When oil price stabilised, it should move up.

4. The hiccup in M1 divestment caused $Keppel(BN4.SG) to drop quite a bit. Happy to continue my DCA.

Well done $ThaiBev(Y92.SG) for jumping 4.7% to 0.45 today. You have done me proud. I will see you at 0.47 or higher soon.

The market narrative is increasingly shifting toward a coordinated pro-growth, pro-AI policy backdrop, with US-China détente, clearer crypto regulation, and sustained hyperscaler spending reinforcing confidence across the AI supply chain. However, parabolic price action across semis and adjacent infrastructure also raises near-term positioning risk, especially after rapid multi-name re-ratings. A balanced approach may favour selective exposure to structural beneficiaries — AI infrastructure, data-centre enablers, and commodity-linked cashflow names — over indiscriminate momentum chasing. In Singapore, dispersion is widening sharply, suggesting active sector rotation and earnings selectivity may outperform broad indexing in this phase.

The market has been going up and looks like it keeps doing so. But I am still cautious and prefer not to join the FOMO club. Stay defensive.

Be careful my friends. The market looks like it is going up but only a few names are propping the market up. Looks like a concerted effort by smart money to keep distributing under the hood. Stay safe!

With Trump holdings disclosure, there are really some very interesting names that are promising. I think it is a good idea to analyse those names specific!