🦎 IGGY MORNING BRIEF, 14 AUGUST 2026

☕ Good morning, Iguanas. SGX opens at 9 am SGT. Dense session — results, fund-flow shifts, and household relief to cover.

OVERNIGHT US SUMMARY

Wall Street records: Dow +0.13% (53,840), S&P +0.65% (7,799), Nasdaq +0.81% (26,803). Softer wholesale inflation + crude oil -2.1% eased rate fears, lifting tech/semis. VIX flat at 14.55. For SGX, cheaper oil matters more than the records.

SGX PRE-OPEN

USD/SGD 1.2803. Brent $87.11/bbl (-2.1%) — welcome pause after recent gains.

SINGAPORE NEWS

Cost-of-living payout: Govt confirms S$400–S$600 cash for 2.4 million citizens in Sept — ~$1B package. Not portfolio-relevant but household-significant.

NODX upgrade: Enterprise Singapore raises forecast after Q2 NODX +27.4%; electronics +88.1% on AI demand — hard export numbers confirm the growth story.

Sembcorp Industries: Interim dividend raised to 11¢ despite net profit -25% due to $155M one-off Alinta acquisition costs — signals operating confidence. However, MSCI will drop Sembcorp from global benchmarks (effective 31 Aug, along with GoTo & Ayala Land). Index removal = passive selling pressure, irrespective of fundamentals.

First Resources: 1H26 net profit +57.4% to $234.9M USD, declares 8¢ dividend. This was on my watchlist pending yield confirmation — new data now allows proper assessment.

Banks: Diverging Q2 outlooks for local banks; China tax rules flagged as new watch item (detail pending). DBS reshuffles HK, Taiwan, Indonesia market heads — leadership, not numbers.

IGGY’S GAME PLAN

Busy news day, but two priorities:

Sembcorp — dividend hike vs. MSCI removal: fundamentals vs. fund flows over coming weeks.

First Resources — fresh dividend data finally enables yield assessment on a previously flagged name.

No changes to yield discipline on any registered name today.

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