For years, Singtel has been my largest holding. At one point, it was almost 15-20% of my total investment holding. Just this week, it has been dethroned. It moved from first to third. Suntec Reit has become my largest holding and DBS is second. Suntec Reit, DBS and Singtel are each about 4% of my holding today.

Part of the reason for the “downfall” of Singtel is the constant decline of its share price since 2016.

In Sep 2016, its share price was $4.03, 2017 Sep was $3.73, 2018 Sep $3.20, 2019 Sep $3.14 and today, it dropped to $2.21. In a short 4 years period, its share price is nearly halved. In Sep 2016, it was a $51 Bln company while today, its a $26 Bln. Another reason could be the spin-off of Netlink Trust last year which has a current market cap

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