Invest in High-Yielding Dividend Stocks: UBS

Invest in higher-dividend stocks, especially those in Singapore, because they are still yielding between 5-1/2 to 6-1/2 percent, said Kelvin Tay, Singapore chief investment strategist at UBS, on CNBC's Protect Your Wealth.

"I think a lot of the companies are still yielding very high strong cash flows, and in the last couple of years, they have not actually changed their dividend payout ratios. So I think you're actually quite safe," Tay said, adding that he does not expect those ratios to change very much.

With fixed deposit rates at 1 percent in Singapore, such stocks are an attractive option for investors, he continued.

Tay said he prefers to invest in Real Estate Investment Trusts (REITs) over property developers, as many are yielding as high as 7 percent.

Tay's favorite pick is in the REIT sector, with some yielding as high as 7 percent. He said that he prefers them over the Singapore property developers.

As for other safer bets, Tay said he is looking at gold due to the lack of alternatives to the U.S. dollar. Many Whereas last year a lot of reserve managers were diversifying into the euro at the expense of the greenback, Tay noted, but said that that is no longer a viable alternative considering the structural issues in the euro zone.

"In the 90s, inflation was not in fashion, and therefore a lot of the reserve managers were actually diversifying out of gold, but as of this point right now, I think the reserves have actually changed and I see a lot more managers moving into gold as an alternative diversifying asset."

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Catch "Protect Your Wealth" on CNBC's Asia Pacific network every Tuesday on "CNBC's Cash Flow," Wednesday on "Asia Squawk Box" and Thursday on "Capital Connection."