melph

ServiceNow is becoming much more than an IT service management company. With AI-powered workflows, it has the opportunity to help organisations automate tasks across IT, HR, finance, customer service, and other business functions, creating a large runway for future growth. The biggest risks are its premium valuation, increasing competition from other enterprise software providers, and whether customers continue expanding their AI spending if economic conditions weaken.

Veeva Systems provides software that helps pharmaceutical and biotechnology companies manage research, clinical trials, and regulatory work. Its subscription model creates stable, recurring revenue, and many customers stay with the company for years. Going forward, I will be watching whether Veeva can keep growing by winning new customers and expanding the use of its newer products.

Alphabet's latest earnings reinforced the strength of its core business, with solid growth in Google Cloud and continued momentum in AI adoption. Management also reaffirmed its commitment to investing heavily in AI infrastructure despite higher capital expenditure. The key question is whether these investments can generate attractive long-term returns. Given Alphabet's scale, strong cash generation, and integrated ecosystem, I remain optimistic about its ability to turn AI spending into sustained growth.

I like Thermo Fisher Scientific because it serves as a backbone of the life sciences industry, supplying the tools, equipment, and services that researchers, hospitals, and pharmaceutical companies rely on day in day out. While biotech spending can fluctuate, its diversified business model, recurring revenue, and broad customer base provide resilience. I believe Thermo Fisher is well positioned to benefit from long-term growth in healthcare innovation and scientific research.

Tiong Woon operates in a niche business that is difficult to replicate. Its expertise in heavy lifting, heavy haulage, and engineering support provides essential services to industries such as energy, petrochemicals, and infrastructure. While earnings can fluctuate with project activity, I believe its specialised capabilities, disciplined operations, and healthy balance sheet position it well to benefit from long-term industrial investment across the region.

My investment thesis for Seatrium remains constructive, but I am mindful of the risks. Large engineering projects can face delays, cost overruns, and margin pressure, while demand for new energy infrastructure may not develop as quickly as expected. The company also needs to consistently convert its growing order book into profitable earnings and strong cash flow.

I believe Alphabet's earnings could surprise positively if Google Cloud continues delivering strong growth and AI features begin driving higher monetization across Search, Workspace, and Cloud.

The biggest concern remains heavy AI capital spending, but if management demonstrates improving returns on those investments and provides confidence that spending will translate into durable earnings growth, investor sentiment could improve.

With its dominant ecosystem and strong cash generation, I am confident Alphabet remains well positioned to benefit from the long-term AI opportunity.

AMD continues to strengthen its AI position with Microsoft adopting its Helios AI platform for Azure, adding to a growing list of major customers. Investor optimism remains high. When AMD reaches $600, I may consider taking some profits. It would be a good opportunity to reassess its valuation, long-term growth potential, and whether there are more attractive opportunities elsewhere.

I have some NetLink NBN Trust shares because NetLink owns the fibre broadband infrastructure that underpins Singapore's digital economy. Its recurring revenue and relatively stable cash flows make it a defensive holding in my portfolio. While growth is likely to remain modest, I value its predictable distributions, resilient business model, and the essential role it plays in connecting homes and businesses across Singapore.

I like Sheng Siong because its business is simple, resilient, and generates consistent cash flow. As a supermarket operator, it benefits from steady demand for everyday essentials regardless of the economic environment. Gradual growth, disciplined operations, healthy balance sheet, and regular dividends make it a dependable long-term holding in my portfolio.

I own the XLV ETF because it offers broad exposure to high-quality healthcare companies across pharmaceuticals, medical devices, healthcare services, and insurance. Healthcare demand tends to remain resilient regardless of the economic cycle. For me, XLV provides diversification, stability, and access to long-term trends such as ageing populations and continued medical innovation.

Novo Nordisk remains a world-class company with leading diabetes and obesity treatments, but I'm re-evaluating my investment. Competition in the obesity market is intensifying, and future growth may become less predictable. I may eventually switch to a healthcare company with a more diversified business and lower execution risk while continuing to monitor Novo Nordisk's progress.

One reason I continue holding Fortinet is that cybersecurity has become a necessity, not a luxury. My investment thesis is that businesses will keep increasing their spending on digital security over time. If Fortinet continues to innovate, expand its platform, and win enterprise customers, I believe it can deliver solid long-term growth despite intense competition.

It's really World Cup fever everywhere in Singapore. The excitement isn't just in sports bars anymore. Free live screenings are being held all over the island....at malls, community plazas, community clubs, SAFRA clubhouses and other public spaces.

People are gathering late into the night to watch the matches together. Friends, families, neighbours and even strangers are cheering, celebrating goals and sharing the excitement. Even if you don't support a particular team, it's hard not to get caught up in the atmosphere.

For a few weeks, football brings everyone together, and you can really feel the World Cup spirit all across Singapore.

As an S&P Global shareholder, I appreciate the company's strong position in credit ratings, financial data, and market analytics. Its recurring revenue and high-quality business model provide resilience across market cycles. The key questions are whether demand for financial data and ratings will continue growing, and whether the company can keep expanding its analytics and index businesses.

As an ELF Beauty shareholder, I like the company's ability to grow by offering trendy, affordable products and responding quickly to changing consumer preferences. Its strong innovation and expanding international presence support long-term potential. The key questions are whether ELF can continue gaining market share, maintain healthy profit margins, and successfully expand beyond its core markets.

As an Eli Lilly shareholder, I am encouraged by the company's leadership in diabetes and weight-loss treatments, which continue to drive strong revenue growth. Its promising drug pipeline also supports long-term potential.

For me, the key questions are whether Eli Lilly can sustain strong earnings growth, maintain its leadership in obesity and diabetes treatments, and continue developing successful new medicines to drive future growth.

it is encouraging to see the Straits Times Index trading near all-time highs, reflecting confidence in Singapore's largest companies. While valuations are higher than before, I remain optimistic about the index's long-term combination of stability, dividends, and steady growth.

As a Microsoft shareholder, I remain confident in the company's long-term outlook despite the shares recently falling around 3%. Microsoft has also raised Xbox prices, reflecting rising costs but also pricing power. Backed by strong cloud, AI, and enterprise businesses, I believe the company is well positioned for sustained growth over time.

As an OCBC shareholder, I appreciate the bank's strong balance sheet, steady dividend payments, and diversified business model. Its exposure to banking, wealth management, and insurance provides resilience across market cycles. While lower interest rates could affect earnings growth, I believe OCBC remains a solid long-term holding that can continue generating value and income for shareholders.

Own some Seatrium. It has benefited from stronger demand for offshore, marine, and energy-related projects. Beyond traditional oil and gas work, the company is positioning itself as a next-generation energy hub, supporting offshore wind, carbon capture, hydrogen, and cleaner energy infrastructure. While these opportunities could drive long-term growth, success will depend on project execution, profitability, and continued investment in the global energy transition.