Small Mid Cap Dividend Portfolio of 9 Stocks

Portfolio Overview & Performance

The SMC Dividend Portfolio represents an excellently executed, income-focused portfolio built on high-conviction Singapore-listed equities.

• Total Capital Deployed: S$89,674.00 (Sum of Cost)

• Current Portfolio Value: S$133,064.00

• Total Portfolio Capital Gain: +S$43,390.00 (+48.39%)

• Total Realized Dividends: S$9,765.23

• Total Return (P/L + Div): +S$53,155.23 (+59.28%)

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The entry prices indicate a disciplined accumulation strategy, capturing multi-year lows or structural value points across several defensive counters.

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Sector Diversification Analysis

‌‌The portfolio is well-anchored across distinct sectors, leaning into defensive, cash-generative businesses that mitigate downside risk while ensuring stable distribution payouts.

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1. Consumer Staples (Supermarkets)‌‌

• Constituent: Sheng Siong (12.84% weight) $Sheng Siong(OV8.SI)$

• Commentary: This is the undisputed star performer of the portfolio with an 88.96% capital gain (unrealized S$8,845) from an entry of S$1.63. Consumer staples provide structural resilience against inflation and economic downturns. At nearly 13% allocation, it provides a powerful, non-cyclical defensive anchor to the portfolio.

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2. Industrials, Conglomerates & Testing Services‌‌

• Constituents: Boustead Singapore (14.96%), VICOM Ltd (15.24%) $Boustead(F9D.SI)$

• Commentary: Together, these form the heaviest sector exposure in the portfolio (~30.2%). Boustead has delivered a spectacular 120.37% capital return, effectively doubling the initial outlay, proving to be an exceptional value pick. VICOM serves as a highly defensive, moat-driven business (vehicle and industrial testing) providing a steady stream of capital growth (+33.10%) and the single largest individual dividend contributor to the portfolio at S$1,286.40.

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3. Land Transport & Mobility Infrastructure‌‌

• Constituents: SBS Transit (9.93%), ComfortDelGro (6.52%) $ComfortDelGro(C52.SI)$ $SBS Transit(S61.SI)$

• Commentary: Occupying roughly 16.5% of the portfolio, this sector leverages the economic reopening and normalization of public/private transport ridership. While SBS Transit has performed strongly (+46.61% capital gain), ComfortDelGro is the only position currently in the red for capital growth (-4.44%). However, ComfortDelGro's high historical dividend payout (S$943.50 collected) has fully offset its paper loss, keeping its *Total Return* positive at S$499.50.

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4. Telecommunications & Digital Infrastructure Trusts‌‌

• Constituents: NetLink NBN Trust (8.15%), Keppel Infrastructure Trust (8.71%) $NetLink NBN Tr(CJLU.SI)$

• Commentary: Accounting for nearly 17% of the asset mix, these business trusts behave similarly to utility moats. Both positions display healthy capital gains (+20.00% and +27.50% respectively) and offer highly predictable, defensive cash flows supported by regulated framework pricing and long-term contracts.

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5. Real Estate Investment Trusts (S-REITs) / Business Trusts‌‌

• Constituent: CapitaLand India Trust (7.32%) $CapLand India T(CY6U.SI)

• Commentary: Representing the sole pure property exposure here, CLINT provides geographic diversification into India's fast-growing business parks and logistics spaces, wrapped in a stable Singapore-listed structure. It is yielding solid total returns (+7.29% capital gain alongside S$968.24 in dividends).

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6. Professional Services & Human Capital‌‌

• Constituent: HRnetGroup (7.63%)

• Commentary: This position introduces a slight cyclical alpha engine to an otherwise highly defensive portfolio. As a premier recruitment agency in Asia, its performance (+12.12% gain) directly correlates with corporate hiring cycles, offering a nice operational divergence from infrastructure and utilities.

Sector Weighting Breakdown

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Strategic Summary & Key Takeaways‌‌

• Exceptional Risk-Adjusted Yield: By avoiding highly volatile tech growth counters and anchoring capital in critical infrastructure, transport, and essential staples, this portfolio achieves an elite balance of risk and reward.

• The Power of Dividends as a Cushion: The ComfortDelGro position perfectly exemplifies the objective of dividend investing—even when a stock’s price faces minor headwinds, a robust dividend stream can turn an uninspiring price chart into a net-positive investment.

• Position Sizing: No single stock accounts for more than 15.24% of the portfolio, ensuring that an adverse event in one specific company cannot structurally damage the broader portfolio's wealth-generating capacity.

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.

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