END JULY 2020 PORTFOLIO UPDATE

All 3 Singapore banks tanked on Thursday, after MAS asked them to cap their 2020 dividend payouts. This will be short term pain for investors given that an important thesis for owning the banks are the dividend yields. For me, I think the long-term sustainability of dividends is still intact due to the strong capital positions of the banks and will most likely use this price weakness to add to my position in August.


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