🦎 Daily Pulse: SGX Digest — March 25, 2026 |🦖EP1501

The Investing Iguana

🦎 Daily Pulse: SGX Digest — March 25, 2026 |🦖EP1501

CLAR is raising S$900 million to protect its balance sheet, yet the pro forma gearing lands at 39.7% — nearly five percentage points above my forensic ceiling of 35%. The raise is rational. The question is whether the new Loyang logistics and Osaka data centre assets can clear a 4.7% yield hurdle, because if they can't, the two point one percent DPU growth projection is accounting, not growth.

When T-bills clear at 1.37% and my Forensic Floor sits at 3.2%, a REIT yielding five percent looks comfortable — until you realise that one hundred basis point cushion above the 4.7% hurdle is the entire margin between a stable distribution and a cut. In a rising cost-of-capital environment, that is not a safety buffer. That is a rounding error. Capital protection requires knowing which side of that line your portfolio sits on.

📺 YouTube: https://youtu.be/a_Dz0by0ViA

📩 Substack: https://investingiguana.substack.com/p/daily-pulse-sgx-digest-march-25-2026

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The raise is rational. The question is whether the new Loyang logistics and Osaka data centre assets can clear a 4.7% yield hurdle, because if they can't, the two point one percent DPU growth projection is accounting, not growth.</p>\n<p>When T-bills clear at 1.37% and my Forensic Floor sits at 3.2%, a REIT yielding five percent looks comfortable — until you realise that one hundred basis point cushion above the 4.7% hurdle is the entire margin between a stable distribution and a cut. In a rising cost-of-capital environment, that is not a safety buffer. That is a rounding error. Capital protection requires knowing which side of that line your portfolio sits on.</p>\n<p>📺 YouTube: https://youtu.be/a_Dz0by0ViA</p>\n<p>📩 Substack: https://investingiguana.substack.com/p/daily-pulse-sgx-digest-march-25-2026</p></body></html>","htmlText":"<html><head></head><body><p></p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/be6d3693d9a22583a3cf6edd9d7d260b\" tg-width=\"1411\" tg-height=\"797\"></p>\n<p><strong>🦎 Daily Pulse: SGX Digest — March 25, 2026 |🦖EP1501</strong></p>\n<p>CLAR is raising S$900 million to protect its balance sheet, yet the pro forma gearing lands at 39.7% — nearly five percentage points above my forensic ceiling of 35%. The raise is rational. The question is whether the new Loyang logistics and Osaka data centre assets can clear a 4.7% yield hurdle, because if they can't, the two point one percent DPU growth projection is accounting, not growth.</p>\n<p>When T-bills clear at 1.37% and my Forensic Floor sits at 3.2%, a REIT yielding five percent looks comfortable — until you realise that one hundred basis point cushion above the 4.7% hurdle is the entire margin between a stable distribution and a cut. In a rising cost-of-capital environment, that is not a safety buffer. That is a rounding error. Capital protection requires knowing which side of that line your portfolio sits on.</p>\n<p>📺 YouTube: https://youtu.be/a_Dz0by0ViA</p>\n<p>📩 Substack: https://investingiguana.substack.com/p/daily-pulse-sgx-digest-march-25-2026</p></body></html>","text":"🦎 Daily Pulse: SGX Digest — March 25, 2026 |🦖EP1501 CLAR is raising S$900 million to protect its balance sheet, yet the pro forma gearing lands at 39.7% — nearly five percentage points above my forensic ceiling of 35%. The raise is rational. The question is whether the new Loyang logistics and Osaka data centre assets can clear a 4.7% yield hurdle, because if they can't, the two point one percent DPU growth projection is accounting, not growth. When T-bills clear at 1.37% and my Forensic Floor sits at 3.2%, a REIT yielding five percent looks comfortable — until you realise that one hundred basis point cushion above the 4.7% hurdle is the entire margin between a stable distribution and a cut. In a rising cost-of-capital environment, that is not a safety buffer. That is a rounding error. Capital protection requires knowing which side of that line your portfolio sits on. 📺 YouTube: https://youtu.be/a_Dz0by0ViA 📩 Substack: https://investingiguana.substack.com/p/daily-pulse-sgx-digest-march-25-2026","highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/546449680118872","repostId":0,"isVote":1,"tweetType":1,"viewCount":107,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":856,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/546449680118872"}