Weekly SGX Gainers & Losers (4 April 2026) **April Dividend Safety Crisis |🦖EP1525
Weekly SGX Gainers & Losers (4 April 2026) **April Dividend Safety Crisis |🦖EP1525
The STI touched 5,000 and every gainer this week looked like a win — until I ran the debt. Sembcorp's 60.4% debt-to-capital ratio and 2.5x interest coverage ratio are structural hazards dressed in a renewables narrative, while ValueMax's screener flashes a 5.4% five-year average yield that melts to 3.68% current — both failing my 4.7% forensic hurdle before we even stress-test the balance sheet. The only counters clearing the yield hurdle this week carried gearing that would disqualify them at the first forensic filter.
In a 5,000-point STI era, the danger isn't obvious crashes — it's slow capital erosion hiding behind legacy yield numbers. With the six-month T-Bill at 1.46% and my 3.2% Forensic Floor demanding a 150-basis-point risk premium on top, every income asset you hold must clear 4.7% with clean gearing or it is costing your retirement more than you realise. Capital protection is not a conservative strategy — it is the only strategy.
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