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Wesley Hoon
Research Analyst, Global Fixed Income
Wesley Hoon is a Research Analyst with the Global Fixed Income Team at iFAST, where he covers Macro Research and USD and SGD bond markets. In addition to publishing research articles for iFAST, he has shared his insights through local media such as The Business Times. Wesley graduated from the National University of Singapore (NUS) with a Bachelor of Social Sciences (Honours) in Economics.
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We revisit the credit case for Muthoot Finance and provide an updated view on their outstanding USD bonds.
SGD Bonds 2H26 Outlook: Finding quality yield in an uncertain world
We recap what has happened in the SGD bond space for the first 6 months of 2026 and provide our thoughts on how to best position your fixed-income portfolio moving forward.
New Issue: Short, Safe and 2.02% – HSBC's New 2-Year SGD Senior Note
HSBC Bank plc's new 2-year SGD senior note at 2.02% offers a ~35bp pickup over Singapore government bonds — a defensive, single-A play for conservative SGD investors.
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Recession-resistant cash flows and a deleveraging balance sheet support decent yields up to 6+%.
Credit Update: Picking up close to 4% SGD perpetual yields from AIMS APAC REIT
We look at AIMS APAC REIT’s latest full-year results (FY2026) and provide an updated take on its outstanding SGD bonds.
Credit Update: 7+% yields offered by SoftBank’s medium-tenor USD bonds.
While SoftBank benefits from strong asset coverage, its growing reliance on OpenAI and AI investments has increased concentration and liquidity risks.
New Issue: Heeton Holdings Limited announces a new 3.5Y SGD senior unsecured with a 5.50% coupon.
We look at Heeton’s latest issuance and provide our thoughts below.
New Issue: Ho Bee Land announces a new 5Y SGD senior unsecured green note at an IPG of 3.50%.
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New Issue: GuocoLand plans on issuing new 4.25Y SGD senior unsecured bonds at an FPG of 2.50%.
We look at GuocoLand’s new issuance and provide our thoughts below.
Credit Update: Heeton Holdings Limited announces exchange offer for its 2026 SGD notes.
We summarise the recent exchange offer announced by Heeton Holdings Limited and recommend rejecting the offer.
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