Hektar – declining dividends per unit for the long-term investor

[weijian]

STI was about 1,991 @ end 2000 & 3,276 @ end 2022. about 65% gain over 22 years. Lucky there is no forex...

It is not about who is better or worse. Think about all the retained earnings over 22 years and company that dilute retained earnings by issuing shares is doing disservice.

For one thing, I like the current SG and Msia equities way better than year 2000.

Yes, I am definitely not interested in who's better or worst as well. Both markets practise commonwealth law, has similar accounting standards/format, similar culture and largely uses English in the communication - as such, a Sporean investor can easily leverage across. Most important thing is that both are small ponds and probably do not have enough big sharks swimming in them.

The Msia equity market has its allure but with the FX tail wind, I thought the investing methodology has to be slightly modified. Although the usual stuff like value, higher ROA/ROIC, share buyback etc are not any different. But as I mentioned earlier, one should try to turn the FX headwind into a tailwind and has to be wary as "time may not be your friend" here.