Fattycat

🏢 MLT - Discounted Price, But Is It a Trap?🤔

Mapletree Logistics Trust is trading near its 52-week low. The bigger story is the gap between its valuation, income and fundamentals.

At S$1.10, MLT trades at roughly 0.80 times book value. That is well below its own five-year median of 0.98 times and suggests a meaningful discount to its net asset value (NTA).

If we compared its current P/B to the broader Singapore REIT market, the picture is less clear. MLT’s 0.80 times P/B is above the sector median of 0.69 times. Its distribution yield of 6.61 percent is nearly identical to the peer median of 6.58% ( Capland Ascendas REITs)

The main concern is distribution growth.

Full year 2026 DPU fell 9.8 percent to 7.262 cents from the prior year. Quarterly DPU has since steadied around 1.80 to 1.81 cents but it is still uncertain whether this level will hold.

Gearing is also a consideration. Gross borrowings stand at about 40.6 percent of total assets.

The P/E ratio tells another story entirely. At 22.1 times, it is above its five-year median of 17.9 times ( For reference and may not be feasible for all Reits performance measurement).

This shows the reason as to why P/B and yield metrics can send different signals when valuing REITs.

See the infographic for full valuation details, peer comparisons, financials and key risks.

Not financial or investment advice. Please do your own due diligence ☺️. Happy weekend. Cheers.

$Mapletree Log Tr(M44U.SG)

S-REITs have been falling like nobody business and they are starting to look really attractive. 😍

I feel the fear everywhere. If you guy got time take a look at CFA REITs and CLR 🤭. Have been dropping sharply too.

Hang Seng Tech is following the same path. The market temperature is 29 degree now 🤭. Not warm not hot 🤣.

I think this shift began when the BOJ and Fed raised their rates. Institutional funds are repositioning their investments fund. Money is likely flowing into high yield treasuries that are risk free compared to REITs. I expect more volatility ahead. Trade with care. Remember today is Friday. Don’t over trade 😁.

$CapLand Ascendas REIT(A17U.SG)

Ascendas Hits 52-Week Low - And I am Holding Tight!😁 NEVER GIVE UP 😆

Ascendas has touched its 52-week low at S$2.260 😮

My position is down -8.16% now from my average price of S$2.461. Honestly, I am not in fear.

No paper hands here 🙅‍♂️ I am staying fully convinced and actually looking to buy more if it keeps dipping! ( waiting for payday 😆).

Strong fundamentals, solid yield ~6.6%, and a long-term horizon - that’s what matters.

Short-term noise doesn’t change the real value. 💡

Staying the course. Who’s with me? 🤣

Fear don’t buy. Buy don’t scare 😂

$XIAOMI-W(01810.HK)

💡 Xiaomi - Deep Value, Long-Term Conviction

📖 My Context

I have been watching Xiaomi since last year. After doing my due diligence on its finances, I am confident that this is a solid company with strong fundamentals.

As of latest annual AFS FY23 -25 , Xiaomi has delivered three straight years of positive operating and free cash flow, plus annual ROE consistently above 10%.

From its peak of HKD 61.45 on 27 June 2025, the share price has dropped 58%, closing today at HKD 26.58.

📈 My Trade

I started my accumulation early March this year and now my average cost is at HKD 31.023. I believe the current price is deeply undervalued. Right now it trades at HKD 26.58, down 14.32%. I am not worried because I know that this is just short-term noise. My focus is firmly on Xiaomi’s long-term growth.

💡 My Takeaway

Buying something just because it looks cheap really tests your patience. Strong fundamentals carry you over time but timing matters too. I am not listening to anyone saying the Hong Kong market is uninvestable. I trust my own research.

Let’s go Xiaomi 🚀

The 4 hourly chart shows a clear Head and Shoulders top.

Left shoulder near 4,400–4,440, head spiked to 4,720, right shoulder lower at 4,480–4,520.

Neckline support sits at 4,200–4,240.

The chart shows falling RSI and price along lower Bollinger Band and has confirmed strong downward momentum.🫣. Maybe short term rebound coming . Gold is very tricky 🤭.🫣

🙏A Thank You - From Your Fellow Investor & Friend!😍😍

By now, I hope you all know who I am. I am just a regular retail investor and a full-time qualified accountant, sharing my journey alongside with all of you.

I want to say a big thank you for all the love and support over the weekend! 🥰

Honestly, I truly enjoyed every moment with everyone. Your questions were so unique, thoughtful and deep. I learned so much from you. Deeply appreciated. I hope my answers were helpful to you. If I did not get to reply as well as I should have, please accept my sincere apologies 🙏

Here is what I love to focus on and share :

🔹 Hang Seng Tech AI stocks

( for example : Alibaba, Tencent ,BYD , JD.com etc)- 3 to 5 times a week

🔹 Singapore blue-chip REITs

( Example: CICT, MLT, FCT, MPACT etc)

🔹 Gold and cryptocurrencies - every weekend or as and when any major news outbreaks.

Do stay tuned and keep supporting me☺️. I will keep sharing what I learn along the way 💡

And a special thank you to Longbridge Singapore for making this interview happen! 🤝

$BABA-W(09988.HK)$Z.AI(02513.HK)$MINIMAX-W(00100.HK)

🚨 🚨 Chinese AI in the Red - Probe + Allegations Shake Confidence

Chinese AI and tech stocks are under pressure as fresh worries hit the market.

The Cyberspace Administration of China has opened a probe into domestic AI developers over data security.

This comes right after Anthropic from the U.S. accused several Chinese firms of illegally using its Claude model to train their own systems.

Investors fear tighter rules could slow AI progress and push up costs. On top of that, a global AI price war is squeezing margins for pure-play AI companies.

Today’s moves:

• Zhipu (Z.AI): Down 12.40% to HKD 650.00

• Alibaba (BABA): Down 4.23% to USD 111.39

• MiniMax: Down 3.98% to HKD 275.00

Alibaba’s e-commerce business stays strong. The current drop reflects broader market sentiment.

Zhipu and MiniMax are facing real challenges now. The current regulatory limits and intense competition may affect their growth path.

Is this the start of a deeper AI pullback or buying opportunities ? Share your thoughts below.

Not financial advice. Please do your own Due diligence.

Gold falling on the 30-min chart ahead of Trump–Xi summit. Is de-risking kicking in?

Good time to accumulate now? What is your thought ?

Alibaba will rally back. I believed in it .

Anyway, today i came across a piece of interesting from business times. MAS conducted a stress test on Singapore listed company about AI related investment.

The results finds nearly 32% of Singapore-listed companies face risk if AI-related investment drops sharply and revenue across the AI supply chain falls.

These firms make up about 16% of total corporate debt. The most exposed are highly leveraged businesses, capital-intensive companies, and those that depend heavily on working capital financing.

Scary 😔

$Frasers Cpt Tr(J69U.SG)$CapLand IntCom T(C38U.SG)

💡 S-REITs: Is This the End or Just Another Rate Cycle?

Blue-chip REITs, especially neighbourhood mall ones, have been under pressure even before the latest Fed hike. Is this the end of the story?

FCT and CICT show exactly how sentiment, interest rates and valuation can pull in different directions.

Both have seen unit prices weaken over recent months, with RSI below 40.

It clearly shows the technical weakness. But their underlying businesses have not simply deteriorated.

🟢 FCT - Fundamentals Still Solid

• Occupancy stays very high at 99.8%

• Rental reversions positive at 6.5%

• 1H FY26 DPU growth of 1.4%

• Price around S$2.10, below latest NAV of S$2.19

• Indicative annualised yield around 5.8%

🟢 CICT - Stronger Growth

• Revenue up 7.5%, NPI up 8.7%, DPU up 7.1%

• Gearing lower at 37.4%

• Price around S$2.24, slightly above NAV of S$2.15

• Indicative annualised yield around 5.4%

📊 The Real Challenge -Macro Environment

The Fed raised rates to 3.75%–4.00% and Singapore’s 10-year government bond yield remains around 2.4%. Higher bond yields can keep pressure on REIT valuations.

So is this the end of REITs or simply another valuation and rate cycle?

Refer to the infographic for the full valuation, fundamentals and technical picture of FCT and CICT

I have a strong feeling gold is heading lower soon. The China U.S. summit starting tomorrow should improve relations between these two major powers. Greater geopolitical stability means less need for gold as a safe haven ( Gold become less attractive)

This improved relationship can also ripple across other markets too:

1️⃣ Bonds-Less trade tension eases inflation pressure, which supports bond prices

2️⃣Rare Earths-Relaxed export controls boost supply and lower costs across manufacturing

3️⃣Agriculture-More open trade stabilises grain and food prices that directly helping tame inflation

Softer gold, calmer supply chains, steadier food costs ➡️ result lower inflation ➡️favourable to Trump coming mid term elections ☺️

$TENCENT(00700.HK)

🚀 Riding the Tencent Wave - Conviction Paying Off!

I am holding Tencent is my firm conviction. I truly believe the upcoming Xi–Trump meeting will bring positive developments that benefit the company. 💪

My average price is HKD 439.70. Right now at HKD 453.2, up +3.06%😁

A great company at a great price does not come around often. It is truly once in a blue moon. I am not selling. I am holding steady and riding this green wave all the way! 🌊

$BTC/USD(BTCUSD.HAS)

🚀 Why Bitcoin Just Surged Past $84,000?

A perfect mix of market forces, institutional money and clearer macro conditions is driving this rally.

Here is the main reasons :

🔥 Short Squeeze in Action

Breaking above $78K and $80K triggered a massive squeeze, over $300 million in short positions wiped out in just one hour on Sep 21.

🏛️ Regulatory Path Clears

U.S. agencies are moving forward. The SEC’s 5-year exemption for tokenized stocks and new CFTC rules give institutions the compliance certainty they needed.

📉 Fed News Was Already Priced In

The 25 bps hike on Sep 16 was fully expected. Once the news was out, uncertainty faded. Bitcoin held firm at $75K and bounced hard.

🏦 Institutions Step Back I

After pre-Fed outflows, buyers returned ,driving $160 million in net ETF inflows in one single day.

Spot ETF buying, short covering, and calmer macro conditions are pushing BTC into new territory. Are you bullish on this move?

Not financial advice. Please do your own DD.

$PING AN(02318.HK)

💪 Still Proudly Holding Ping An - My Conviction Grows Stronger!😁

Back on Sep 8, I shared why I hold 1,000 Ping An shares at an average cost of HKD 56.65. Today it is trading at HKD 53.3. I have no regret and my conviction is even stronger.

The main reasons are as follows :

✅ Double milestone still stands

36.1% profit growth + A+ ESG rating, top 10% among financials globally

✅ Deep value valuation

P/E only 5.25 vs industry 8.89. P/S just 0.69 vs 1.00. Both trade well below historical averages

✅ Cash flow surging quarter on quarter

Q2 2026 operating cash flow hit HKD 273.5B, up 84.06% QTQ 2026😍

That follows a strong recovery from Q1 2026’s 148.59B.😍

Price is slightly below my average but fundamentals keep improving.

I am not worried because I know that this is the best kind of opportunity to accumulate more if it drop further.

Great companies deserve patience and I am proudly holding for the long haul! 🚀😘😘

My main focus right now is the upcoming Xi and Trump meeting. Will it help resolve our differences?

In this meeting, will the U.S. sell more chips to China while China exports more EVs to America and buys more Boeing planes? I think markets will move heavily on all these outcomes. Hence sit tight for volatility😂.

As for cryptocurrencies, I don’t see any major news that could push BTC higher. I believe the current rally is mostly speculative so please be careful! 🤭

🌍 Trump–Xi Meeting: Who Wins, Who Loses? Full Market Breakdown

The bilateral summit between President Donald Trump and President Xi Jinping is scheduled for Thursday, September 24, 2026.

When the top leaders meet, markets shift. Policy decisions may directly impact global assets across these key sectors:

1️⃣ Semiconductor & Tech:

Eased chip export rules and clearer IP guidelines lift stocks like NVDA, AMD and INTC. Tighter controls trigger supply chain sell-offs instead.

2️⃣ Chinese Equities & ADRs:

Tariff exemptions and a stable yuan boost BABA, TCEHY and JD. Tough rhetoric raises delisting risks and drives higher volatility.

3️⃣ Agriculture & Commodities:

Large U.S. grain and energy purchases benefit producers like ADM and BG. Import restrictions redirect global trade flows.

4️⃣ Clean Energy & Automotive:

Clear EV joint venture rules support TSLA, Ford and BYD. Bans on connected vehicle technology curb growth.

🔷 3 Possible Outcomes

1️⃣ Constructive Truce (Most Likely): Tariffs paused + agricultural purchases → Broad market rally, lower volatility

2️⃣ Tech Tensions Rise: Stricter chip export bans + rare-earth controls → Tech sector pullback

3️⃣Talks Break Down: No deal + new tariff hikes → Investors shift to safe havens like gold and the U.S. dollar

💡 Key Market Effects:

• Sentiment swings between risk-on and risk-off

• U.S. dollar and yuan exchange rates shift

• Ripples across the S&P 500, Hang Seng and Nikkei 225

🤔 Which stock do YOU think will come out the biggest winner? 🤭

Not financial advice. Please do your own DD.