BOND THREAD

[cbsh38584]

btw, for borrowings in sgd, what is the rate you are paying?

My friend borrowing SGD rate at DBS 1.45% (May15). Maybe DBS/POSB got too much
SGD deposit. I believe it is >1.45% due to higher sibor (>1% )now.

My borrowing rate 2.15%. I am not going to borrow more SGD to buy SGD bond. Instead, I
was moved more to USD/Euro bond as they borrowing cost is low.

Pls be cautious on leveraging on bond. Buy the wrong bond & price just collapse, U will
be in trouble. In 2012, Muddy water attacked OLAM on the accounting issues.
The OLAM SGD perp bond 7% dropped from 98 to 72. There is a margin call & many
were forced to sell at dirt cheap price as they do not enough CASH to top.

[sying]

Thanks chsb.I am new to bonds and would appreciate some advice.

-Thinking of leverage on local bonds to get a higher yield.
-No intention to trade, just hold to maturity should be safe enough?
-And maybe max 5 years maturity (in case interest rate spike up too much, which borrowing cost will likely increase accordingly)
-safer corporate bonds (not likely to default, or highly volatile)
-and having some funds ready ( in the event of margin call.)

Is the above workable? If yes, do you have any recommendation on the types of bonds to look for?

Thanks

[cbsh38584]

Thanks chsb.I am new to bonds and would appreciate some advice.

-Thinking of leverage on local bonds to get a higher yield.
-No intention to trade, just hold to maturity should be safe enough?
-And maybe max 5 years maturity (in case interest rate spike up too much, which borrowing cost will likely increase accordingly)
-safer corporate bonds (not likely to default, or highly volatile)
-and having some funds ready ( in the event of margin call.)

Is the above workable? If yes, do you have any recommendation on the types of bonds to look for?

Thanks

U are new to bond. Better don't leverage. Furthermore, SGD Borrowing rate too high 2%+.
If U buy investment grade SG bond 2-3%, there will be no meat left if U borrow @2%+.
But if u buy JUNK bond non investment grade 5-7%, it is simply too risky for U as a new
bond investor & U will not sleep well at night. Worst of all, if there is a near default during
another big crisis like Lehman, all your HARD MONEY will be stuck or become ZERO.

Pls go to this Bond website to know about bond investing.He is a expert in fixed income.
http://tradehaven.net/

[sying]

U are new to bond. Better don't leverage. Furthermore, SGD Borrowing rate too high 2%+.
If U buy investment grade SG bond 2-3%, there will be no meat left if U borrow @2%+.
But if u buy JUNK bond non investment grade 5-7%, it is simply too risky for U as a new
bond investor & U will not sleep well at night. Worst of all, if there is a near default during
another big crisis like Lehman, all your HARD MONEY will be stuck or become ZERO.

Pls go to this Bond website to know about bond investing.He is a expert in fixed income.
http://tradehaven.net/

I definitely can't sleep peacefully with bonds like swiber, aspial, or those in the above 5% yield category.


How about bonds in this category. Yield is 3.4-4%, and with leverage, the yield is more acceptable to me

Below are from the tradehaven website you mentioned. These are not likely to default?

Maple tree greater china, maturity Mar22, yield around 3.4%
wingtai , maturity oct 2021, yield 3.8%
cwt, maturity Mar 2020, yield 4.6%

[cbsh38584]

I definitely can't sleep peacefully with bonds like swiber, aspial, or those in the above 5% yield category.


How about bonds in this category. Yield is 3.4-4%, and with leverage, the yield is more acceptable to me

Below are from the tradehaven website you mentioned. These are not likely to default?

Maple tree greater china, maturity Mar22, yield around 3.4%
wingtai , maturity oct 2021, yield 3.8%
cwt, maturity Mar 2020, yield 4.6%

The borrowing cost is high (2.1-2.2%%) & may go higher (2.5%?) next year.
Mapletree greater china,wingtai, Capialand etc not likely to default but
not 100%. Lehman brother is a 100 years old company yet it CLOSED SHOP.

The guy from tradehaven is a fixed income expert. It will be better to ask him or your
qualify banker to seek a better investment guide.

Take a baby step 1st as U are NEW to leveraging on BOND. Go for blue chip.
Maybe U should buy SGX listed retail bond like Capmall 3.08% , Capmall Asia 3.8%
, FCL 3.65% etc. But it is not liquid. So U probably can buy 10k-30k, not 100k. BUY & HOLD.

[sying]

The borrowing cost is high (2.1-2.2%%) & may go higher (2.5%?) next year.
Mapletree greater china,wingtai, Capialand etc not likely to default but
not 100%. Lehman brother is a 100 years old company yet it CLOSED SHOP.

The guy from tradehaven is a fixed income expert. It will be better to ask him or your
qualify banker to seek a better investment guide.

Take a baby step 1st as U are NEW to leveraging on BOND. Go for blue chip.
Maybe U should buy SGX listed retail bond like Capmall 3.08% , Capmall Asia 3.8%
, FCL 3.65% etc. But it is not liquid. So U probably can buy 10k-30k, not 100k. BUY & HOLD.

I got both the sgx listed retail bond-FCL and Capmall during IPO, but not leveraged. Just that with leverage, I am getting a better return. If interest rate really spike up to the extent of negating the leveraged bond yield, at most I pay up most of the loan and hold till maturity.
Thanks for your advice. I have been thinking about this for a while ..but no action yet. Coz I am not sure its the right way to go.

[cbsh38584]

I got both the sgx listed retail bond-FCL and Capmall during IPO, but not leveraged. Just that with leverage, I am getting a better return. If interest rate really spike up to the extent of negating the leveraged bond yield, at most I pay up most of the loan and hold till maturity.
Thanks for your advice. I have been thinking about this for a while ..but no action yet. Coz I am not sure its the right way to go.

As I said, ,my investment PORTFOLIO consist of CASH contribution to my CPF. My bond coupon rec'd will be transferred to my CPF acct.
I have been receiving $16k+ compounded interest from CPF & interest will increase more if I contribute more CASH & if I don't
take it out by age 55. Don't be afraid that CPF board will change the RULES to lock your $ more.

Our govt is smart enough to cap the MAX contribution CASH to $31.45k per year. CPF SA (special acct) & CPF MA (medisave acct)
also has a MAX ceiling , SA max=161k (4%-5%) & MA max=48.5k (4%). Once U reach the MAX ceiling, the excess from SA/MA
will flow into your OA (2.5%-3.5%=original acct). The govt is not so stupid to give u all RISK FREE high interest rate in your CPF.

If U are age 55 & above, U will get 1% more for all acct. Latest announcement from govt on Feb15, those 55 & above. you will
get EXTRA 1% That is 1st 30k = 6%. Next 30k=5%. This is more for low/ave income earner to help them to meet the retirement
needs.

I met a retired lady (>age 55) during recent holiday . She told me she took out all her CPF $ as she don't trust the GOVT. Afraid
it may change the rule & lock in more $$$. She used it to buy OCBC share@$10.60. Now OCBC share price @9.20. A 13% capital
loss. If she (>age55) did not out her money from CPF, she gets 4.5% in her OA if it is <$20k & 5% in her SA if < it is $40k.
Comes Jan 2016, she will earn EXTRA 1% more. 1st 30k=6%. Next 30k=5%. A very bad decision to withdraw her CPF money as
she still has own CASH from herself & family member to support her.

The knowledgeable , smart & rich are trying to put more CASH into CPF as they know the high RISK FREE interest rate cannot be
found in the financial mkt. Luckily, our govt is smart enough to cap a MAX ceiling of $31.45k year. The "NOT SO RICH" or ignorant
trying to withdraw all the money from CPF once reach 55. What a bad move if he/she decides to withdraw even though they do
not have immediate need from the CPF money.

[sying]

As I said, ,my investment PORTFOLIO consist of CASH contribution to my CPF. My bond coupon rec'd will be transferred to my CPF acct.
I have been receiving $16k+ compounded interest from CPF & interest will increase more if I contribute more CASH & if I don't
take it out by age 55. Don't be afraid that CPF board will change the RULES to lock your $ more.

Our govt is smart enough to cap the MAX contribution CASH to $31.45k per year. CPF SA (special acct) & CPF MA (medisave acct)
also has a MAX ceiling , SA max=161k (4%-5%) & MA max=48.5k (4%). Once U reach the MAX ceiling, the excess from SA/MA
will flow into your OA (2.5%-3.5%=original acct). The govt is not so stupid to give u all RISK FREE high interest rate in your CPF.

If U are age 55 & above, U will get 1% more for all acct. Latest announcement from govt on Feb15, those 55 & above. you will
get EXTRA 1% That is 1st 30k = 6%. Next 30k=5%. This is more for low/ave income earner to help them to meet the retirement
needs.

I met a retired lady (>age 55) during recent holiday . She told me she took out all her CPF $ as she don't trust the GOVT. Afraid
it may change the rule & lock in more $$$. She used it to buy OCBC share@$10.60. Now OCBC share price @9.20. A 13% capital
loss. If she (>age55) did not out her money from CPF, she gets 4.5% in her OA if it is <$20k & 5% in her SA if < it is $40k.
Comes Jan 2016, she will earn EXTRA 1% more. 1st 30k=6%. Next 30k=5%. A very bad decision to withdraw her CPF money as
she still has own CASH from herself & family member to support her.

The knowledgeable , smart & rich are trying to put more CASH into CPF as they know the high RISK FREE interest rate cannot be
found in the financial mkt. Luckily, our govt is smart enough to cap a MAX ceiling of $31.45k year. The "NOT SO RICH" or ignorant
trying to withdraw all the money from CPF once reach 55. What a bad move if he/she decides to withdraw even though they do
not have immediate need from the CPF money.

Agree with you on the CPF part. Good deal for singaporean. Too bad, there is cap to how much you can put in.

[cbsh38584]

I got both the sgx listed retail bond-FCL and Capmall during IPO, but not leveraged. Just that with leverage, I am getting a better return. If interest rate really spike up to the extent of negating the leveraged bond yield, at most I pay up most of the loan and hold till maturity.
Thanks for your advice. I have been thinking about this for a while ..but no action yet. Coz I am not sure its the right way to go.

Why don't U buy a small amt (5k) UOB united Asian high yield (JUNK BOND). The dividend payout is quite good.
High yield but high risk. Get a feel what is like to invest in high yield (JUNK bond) bond but through unit trust.
A baby step. Buy through fundsupermart or Phillip security online with lower commission charge.

[sying]

Why don't U buy a small amt (5k) UOB united Asian high yield (JUNK BOND). The dividend payout is quite good.
High yield but high risk. Get a feel what is like to invest in high yield (JUNK bond) bond but through unit trust.
A baby step. Buy through fundsupermart or Phillip security online with lower commission charge.

Thanks for your recommendation, returns is quite good! Think it is not available in Philip, so consider buy via fundsupermart.

Luckily I didn't buy eastspring inv monthly income plan- M as recommended by UOB bank. Performance is no good.

[Laguna]

haha....ask Vic to be your personal advisor.
you must do your homework, list down your selection...that is the way of learning to be a savvy investor

[sying]

haha....ask Vic to be your personal advisor.
you must do your homework, list down your selection...that is the way of learning to be a savvy investor

....still a green horn on bonds investing , and there are not many sources to learn from (besides reading from newspaper/ articles, nothing beats hearing from people who are investing in them).

so happy to stumble on this forum.... am trying to learn more from the experts here...before I dip into it. Thanks to thread starter and all who have generously shared their experience/knowledge here, I have learnt much here and got some lobang too:

My most important selection criteria...is very low risk of DEFAULT! .. I don't mind the lower yield (which I can made up for it by leveraging)...and I can get back the money upon maturity.

[Laguna]

....still a green horn on bonds investing , and there are not many sources to learn from (besides reading from newspaper/ articles, nothing beats hearing from people who are investing in them).

so happy to stumble on this forum.... am trying to learn more from the experts here...before I dip into it. Thanks to thread starter and all who have generously shared their experience/knowledge here, I have learnt much here and got some lobang too:.

this thread is going to be 3 years...

I suggest you read from beginning of this thread as there is lot of wisdoms.

I have cut back my bond position significantly and more into US and Europe equities.
I park my investment in US$ with leverage in Euro, Yen and small portion in S$.

[Arcachon]

https://www.youtube.com/results?sear...ry=Bond+bubble

[cbsh38584]

As I said, ,my investment PORTFOLIO consist of CASH contribution to my CPF. My bond coupon rec'd will be transferred to my CPF acct.
I have been receiving $16k+ compounded interest from CPF & interest will increase more if I contribute more CASH & if I don't
take it out by age 55. Don't be afraid that CPF board will change the RULES to lock your $ more.

Our govt is smart enough to cap the MAX contribution CASH to $31.45k per year. CPF SA (special acct) & CPF MA (medisave acct)
also has a MAX ceiling , SA max=161k (4%-5%) & MA max=48.5k (4%). Once U reach the MAX ceiling, the excess from SA/MA
will flow into your OA (2.5%-3.5%=original acct). The govt is not so stupid to give u all RISK FREE high interest rate in your CPF.

If U are age 55 & above, U will get 1% more for all acct. Latest announcement from govt on Feb15, those 55 & above. you will
get EXTRA 1% That is 1st 30k = 6%. Next 30k=5%. This is more for low/ave income earner to help them to meet the retirement
needs.

I met a retired lady (>age 55) during recent holiday . She told me she took out all her CPF $ as she don't trust the GOVT. Afraid
it may change the rule & lock in more $$$. She used it to buy OCBC share@$10.60. Now OCBC share price @9.20. A 13% capital
loss. If she (>age55) did not out her money from CPF, she gets 4.5% in her OA if it is <$20k & 5% in her SA if < it is $40k.
Comes Jan 2016, she will earn EXTRA 1% more. 1st 30k=6%. Next 30k=5%. A very bad decision to withdraw her CPF money as
she still has own CASH from herself & family member to support her.

The knowledgeable , smart & rich are trying to put more CASH into CPF as they know the high RISK FREE interest rate cannot be
found in the financial mkt. Luckily, our govt is smart enough to cap a MAX ceiling of $31.45k year. The "NOT SO RICH" or ignorant
trying to withdraw all the money from CPF once reach 55. What a bad move if he/she decides to withdraw even though they do
not have immediate need from the CPF money.

The Famous 3000 years old Chinese proverb.

DIG THE WELL BEFORE YOU ARE THIRSTY.

S'pore economy is no more the same as in the 70s , 80s , 90s & early 2000. Be prepared for tough time ahead in the next 30 yrs.

So better DIG THE WELL BEFORE YOU ARE THIRSTY. Save for rainy days (emergency fund) while u are still healthy & young etc.
Failure to plan ahead is like DIGGING YOU OWN GRAVE sooner or later.

So better worries now . If you think, then you will be prepared . If you are prepared then you have no worries.

One of the way is to contribute some of your EXCESS CASH into the CPF (guarantee AAA rated bond) earning higher risk free interest.

[newbiebondinvestor]

Cbsh, did you buy noble 6.5% usd bond? Ytm is very high for a IG bond. Anyway i recommend using interactive brokers for buying us stocks and bonds. Can leverage as well

[GORDON]

Cbsh, did you buy noble 6.5% usd bond? Ytm is very high for a IG bond. Anyway i recommend using interactive brokers for buying us stocks and bonds. Can leverage as well

Dear newbieinvestor, and Cbsh,

my citigold RM inform me there is 2% comm to bank for buy and selling corporate bonds,minimum tranche is 100k, through the citibank
also it takes about six days to get back the money if you sell the bond

is your experience also 2% comm ?-------ie for an beginner buying bonds value about 100k to 200k

does the money takes 6 days to come back to you?

is this local sg website useful http://bondsupermart.com?
how do you take make use of this website?

any other blogs or website you could recommend for those never buy bonds before( but i have bought shares using philips poems online)

[newbiebondinvestor]

Dear newbieinvestor, and Cbsh,

my citigold RM inform me there is 2% comm to bank for buy and selling corporate bonds,minimum tranche is 100k, through the citibank
also it takes about six days to get back the money if you sell the bond

is your experience also 2% comm ?-------ie for an beginner buying bonds value about 100k to 200k

does the money takes 6 days to come back to you?

is this local sg website useful http://bondsupermart.com?
how do you take make use of this website?

any other blogs or website you could recommend for those never buy bonds before( but i have bought shares using philips poems online)

From the way you describe, i reckon you are buying usd bonds? 2% is a rubbish rate. But you should look at the final prices quoted to you and compare to other banks or brokerages.. i know citigold prices are very bad. Bondsupermart serves as some kind of indication.. at least it provides some transparency. As cbsh mentioned, you should look at www.tradehaven.net as well

[cbsh38584]

Cbsh, did you buy noble 6.5% usd bond? Ytm is very high for a IG bond. Anyway i recommend using interactive brokers for buying us stocks and bonds. Can leverage as well

I was recommended by my banker when the price was 95. But I did not listen to his advise as I feel the
yield is too low for a perp. Month later, my banker email a tactic trade for Noble perp to buy @80. Again, I
did not buy.

Just last mth, my friend told me that his CMIB RM recommended a tactic trade to buy Noble <70. I told him
if U buy, be prepared to have sleepless night as it will be volatile. Can leverage.

I bought (@94.25)Vendante resource convertible bond 5.5% due Jun 16. LTV is 70%. My friend from DBS
private banking (min S$1.5m) told me a LTV 65% is given. It is a short dated bond. I am prepare to take
the calculate risk.


Fundsupermart - no leveraging. I have a acct with Saxo & E-trade but seldom trade. They don't provide
leveraging for bond. I think I will be more extra careful in 2016 & 2017 as many GURU include Soros
have been talking that a big crisis is coming since 2012. Till now, it yet to happen. But the big crisis will
definitely comes. Maybe in late 2016 (US election) or 2017 (after US election). Just be more careful on leveraging.

[newbiebondinvestor]

I was recommended by my banker when the price was 95. But I did not listen to his advise as I feel the
yield is too low for a perp. Month later, my banker email a tactic trade for Noble perp to buy @80. Again, I
did not buy.

Just last mth, my friend told me that his CMIB RM recommended a tactic trade to buy Noble <70. I told him
if U buy, be prepared to have sleepless night as it will be volatile. Can leverage.

I bought (@94.25)Vendante resource convertible bond 5.5% due Jun 16. LTV is 70%. My friend from DBS
private banking (min S$1.5m) told me a LTV 65% is given. It is a short dated bond. I am prepare to take
the calculate risk.


Fundsupermart - no leveraging. I have a acct with Saxo & E-trade but seldom trade. They don't provide
leveraging for bond. I think I will be more extra careful in 2016 & 2017 as many GURU include Soros
have been talking that a big crisis is coming since 2012. Till now, it yet to happen. But the big crisis will
definitely comes. Maybe in late 2016 (US election) or 2017 (after US election). Just be more careful on leveraging.

Oh i am referring to the vanilla bond. Cant rmb if its 6% or 6.5% mature in a few years

[cbsh38584]

Oh i am referring to the vanilla bond. Cant rmb if its 6% or 6.5% mature in a few years

Price for Noble on 13th Aug15.
==================
CCY Issuer Cpn Maturity Next Call Moody's S&P Bid B YTW Offer O YTW ISIN Min Piece
USD NOBLE GROUP LTD 3.625 3/20/2018 - Baa3 BBB- 89.50 8.20 90.50 7.74 XS0906440333 200,000
USD NOBLE GROUP LTD 6.750 1/29/2020 - Baa3 BBB- 95.00 8.11 96.00 7.83 USG6542TAE13 100,000
USD NOBLE GROUP LTD 6.000 Perp 6/24/2019 NA NA 68.00 8.83 70.00 8.58 XS1079076029 200,000
CNY NOBLE GROUP LTD 4.000 1/30/2016 - NA BBB- 95.75 13.9 98.25 7.97 XS0880258651 1,000,000

There is no buy recommendation for Noble except a tactical trading buy for Noble perpetual bond 6%.
Noble CNY bond is too risky due to FX risk. USD/CNY is 6.36+ now . It goes up as high as 6.41 last mths.
Next yr tgt maybe 6.50 and above.


US FED rate remain unchanged at ZERO. So it is good for my Evergrande CNY 9.25% bond due Jan16.
I bought @97.7 last month, AUG15 during the "FEAR" period. The Xrate is for my USD/CNY is 6.408.
Now the bond is trading 98.7 & USD/CNY Xrate is 6.36+. So timing is very important. just need to be patient.

[jeaprp]

How do u rate the HDB bonds?
Seems like the Ministry of finance will balance the deficient , regardless the amt(2,02Bil)

[starrynight]

HDB bonds are seen as almost sovereign, i.e. very low default risk. But usually not terribly attractive to smaller retail investors. I get the impression more for the insurance companies, etc. which need to keep certain assets in certain risk / liquidate-able classes and to maintain capital adequacy ratios.

Likewise for LTA, etc. NUS has bonds too.

How do u rate the HDB bonds?
Seems like the Ministry of finance will balance the deficient , regardless the amt(2,02Bil)

[starrynight]

For bonds, usually the tranche size is $250,000.

I've not bought bonds at IPO for some time, but for retail Citigold / Treasures type customers, I think 2% is more or less there, though you could try bargaining a bit. Often, the bank gets a discount from the issuer, but we never see any discount coming back to us (unless you are at the private banking level).

For secondary market, get the bank to quote you a price such that there is no comm (or any comm is built into the price). Again, at the retail level, be prepared for a 1.5 to 2.5 point spread between the sell and buy price.

Bottom line is, for retail investors, be prepared to hold the bond to maturity, otherwise get ready to take a hit on the price, especially if you are a client of 1 of the smaller / lesser banks.

Dear newbieinvestor, and Cbsh,

my citigold RM inform me there is 2% comm to bank for buy and selling corporate bonds,minimum tranche is 100k, through the citibank
also it takes about six days to get back the money if you sell the bond

is your experience also 2% comm ?-------ie for an beginner buying bonds value about 100k to 200k

does the money takes 6 days to come back to you?

is this local sg website useful http://bondsupermart.com?
how do you take make use of this website?

any other blogs or website you could recommend for those never buy bonds before( but i have bought shares using philips poems online)

[Werther]

For bonds, usually the tranche size is $250,000.

I've not bought bonds at IPO for some time, but for retail Citigold / Treasures type customers, I think 2% is more or less there, though you could try bargaining a bit. Often, the bank gets a discount from the issuer, but we never see any discount coming back to us (unless you are at the private banking level).

For secondary market, get the bank to quote you a price such that there is no comm (or any comm is built into the price). Again, at the retail level, be prepared for a 1.5 to 2.5 point spread between the sell and buy price.

Bottom line is, for retail investors, be prepared to hold the bond to maturity, otherwise get ready to take a hit on the price, especially if you are a client of 1 of the smaller / lesser banks.

Hi Starrynight

Long time no see you here... How are you doing? Lucky you, not in Singapore, the haze is quite bad these 2 days.

Any safe and higher yield local bond you noticed recently?

You still looking to buy property?

[starrynight]

Hi Werther!

Been ok. Was working in the USA for 2 years and came back a few months ago

Actually I did "stock up" on bonds a bit the past few months. My O&G counters bought 1+ year ago matured without incident I'm personally of the view that the price trend and rental yield of CCR property in the next 1 or so year will not be worth the pain of worrying about not being able to find a tenant, etc. So I got some maturing in the next 8 to 15 months, plus Interplex callable in 2017 (DBS quoting now at 101, which is a bit lower than when I bought it).

I think Laguna is probably right that USD-denominated counters are a safe / better investment. But I'm a little "chicken" about committing to a $250,000 USD exposure (even if the USD is likely to remain strong against the SGD - who knows what "black swan" events might occur?).

Hi Starrynight

Long time no see you here... How are you doing? Lucky you, not in Singapore, the haze is quite bad these 2 days.

Any safe and higher yield local bond you noticed recently?

You still looking to buy property?

[Werther]

Thanks for sharing. Thinking of buying some bonds instead of stock as they are so uncertain now.

[starrynight]

Indeed. I would not feel comfortable committing too much money in the stock market right now.

Re bonds, just remember to get a decent name and be prepared to hold to maturity

Thanks for sharing. Thinking of buying some bonds instead of stock as they are so uncertain now.

[cbsh38584]

Thanks for sharing. Thinking of buying some bonds instead of stock as they are so uncertain now.

U should buy retail bond listed in SGX. Don't delay. Buy on Friday. But it is illiquid. 10k-30k
1) capitalmall trust retail bond 3.08% due 2021. Can buy below 0.995.
2) FCL treasury retail bond 3.65% due 2022 buy slightly above 100 (1.004)

If have excess cash & U are in the early 40s, do a voluntary cash contribution into your CPF
to earn higher interest. U can definitely will sleep well.

Right now, a portion of the bond coupon I rec'd is "DEPOSITED" in my CPF acct as well as families.
I am targeting to contribute more cash into my CPF acct & hopefully can reach $1m combine for my
OA/SA/MA by age 65. They are my last line of defence for my retirement if I screw up my CASH investment.

[Werther]

Wow, Bro Cbsh, Thanks for your tips. will look at capitalmall but my funds only due end of this month. Usually, how long to hold? I m looking to buy property so if need to hold till 2021/2022 may be too long. Better to hold till maturity?

I am confused on the CPF. Is it a good idea to put $$ into cpf ? But hard to take it out when needed. I am in 49.