Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>DBS keeps 'buy' rating on UMS Integration with $2.92 target as shares jump 14%.</li><li>RHB keeps 'buy' on AIMS APAC REIT, raises TP to $1.70 due to data centre options.</li><li>CGSI upgrades Hong Leong Asia to 'add', raising TP to $5.50 on strong powertrain and acquisition.</li></ul>

DBS keeps 'buy' rating on UMS Integration with $2.92 target as shares jump 14%.RHB keeps 'buy' on AIMS APAC REIT, raises TP to $1.70 due to data centre options.CGSI upgrades Hong Leong Asia to 'add', raising TP to $5.50 on strong powertrain and acquisition.

Singapore Market Roundup (12-May-2026): DBS maintains 'buy' on UMS Integration; target $2.92.

<ul><li>DBS maintains 'buy' rating for AvePoint on AI governance, US public sector rebound.</li><li>Jardine C&amp;C's car dealership sale could yield $350M; DBS keeps 'buy' at $39 target.</li><li>Capital Group increases Singtel stake, becoming a major shareholder at $4.67 each.</li></ul>

DBS maintains 'buy' rating for AvePoint on AI governance, US public sector rebound.Jardine C&amp;C's car dealership sale could yield $350M; DBS keeps 'buy' at $39 target.Capital Group increases Singtel stake, becoming a major shareholder at $4.67 each.

Singapore Market Roundup (11-May-2026): DBS keeps 'buy' rating for AvePoint amid AI growth.

Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/info-tech-systems-ltd" target="_blank" data-smartkarma-citation="entities:45425:1" rel="noopener">Info-Tech Systems (ITSL SP)</a> is an SGX Mainboard-listed provider of cloud-based business software for small and medium enterprises (SMEs), with operations in SG, MY, HK and IN.</li>
<li>Its core product is a modular human resource management system (HRMS) covering payroll, leave, claims, time attendance, appraisal and scheduling, which it sells alongside its proprietary accounting software.</li>
<li>We initiate non-rated coverage on Info-Tech Systems. While the firm has shown strong growth , HRMS revenue could potentially decline given grant funding being an important driver for first-year sign-ups.</li>
</ul>



Info-Tech Systems (ITSL SP) is an SGX Mainboard-listed provider of cloud-based business software for small and medium enterprises (SMEs), with operations in SG, MY, HK and IN.
Its core product is a modular human resource management system (HRMS) covering payroll, leave, claims, time attendance, appraisal and scheduling, which it sells alongside its proprietary accounting software.
We initiate non-rated coverage on Info-Tech Systems. While the firm has shown strong growth , HRMS revenue could potentially decline given grant funding being an important driver for first-year sign-ups.


Info-Tech Systems Initiation - High Growth and Margins but Needs to Be Sustainable

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>Shinsegae has been chosen as the preferred bidder for a new hotel project in Seoul, indicating its expansion in the hospitality sector.</li><li>Ares Management has raised $1.6 billion for a Japan-focused industrial fund, increasing its total assets under management to $644 billion.</li><li>Hongkong Land has launched a luxury mall in Shanghai as part of an $8 billion commercial development, showcasing growth in retail investments.</li></ul>

Shinsegae has been chosen as the preferred bidder for a new hotel project in Seoul, indicating its expansion in the hospitality sector.Ares Management has raised $1.6 billion for a Japan-focused industrial fund, increasing its total assets under management to $644 billion.Hongkong Land has launched a luxury mall in Shanghai as part of an $8 billion commercial development, showcasing growth in retail investments.

Asia Real Estate Tracker (06-May-2026): Shinsegae wins bid for Seoul hotel and real estate news.

<ul><li>uSmart initiates coverage of Soon Hock Enterprise at 'buy', sees re-rating potential.</li><li>Paragon acquisition boosts CICT's status as Singapore's leading retail landlord.</li><li>Maybank and CGSI remain optimistic on ISOTeam after new contract win.</li></ul>

uSmart initiates coverage of Soon Hock Enterprise at 'buy', sees re-rating potential.Paragon acquisition boosts CICT's status as Singapore's leading retail landlord.Maybank and CGSI remain optimistic on ISOTeam after new contract win.

Singapore Market Roundup (23-Apr-2026): uSmart rates Soon Hock Enterprise as 'buy' with growth

Bermuda

Jardine Matheson is a diversified, Asia-focused multinational conglomerate with interests spanning motor vehicles, property investment and development, retail, hotels, engineering, construction, and financial services. It operates through a portfolio of market-leading businesses across Asia. The company was founded in 1832 and is headquartered in Hong Kong.

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Jardine Matheson (JM SP)

Singapore Market Roundup (12-May-2026): DBS maintains 'buy' on UMS Integration; target $2.92.

DBS maintains 'buy' on UMS Integration with a $2.92 target; RHB raises AIMS APAC REIT TP to $1.70; CGSI upgrades Hong Leong Asia to 'add' with TP...

Singapore Market Roundup

Singapore Market Roundup (11-May-2026): DBS keeps 'buy' rating for AvePoint amid AI growth.

DBS maintains 'buy' ratings for AvePoint and Jardine C&C. Capital Group boosts Singtel stake, becoming a major shareholder at $4.67 each.

Singapore Market Roundup

Info-Tech Systems Initiation - High Growth and Margins but Needs to Be Sustainable

We initiate non-rated coverage on Info-Tech Systems. Despite the strong growth, HRMS revenue could potentially decline given grant funding being an...

Evolve Capital Advisory Pte Ltd

Asia Real Estate Tracker (06-May-2026): Shinsegae wins bid for Seoul hotel and real estate news.

Shinsegae is the preferred bidder for a Seoul hotel, Ares raised $1.6B for a Japan fund, Hongkong Land launched a luxury mall in Shanghai, and...

Asia Real Estate Tracker

Singapore Market Roundup (23-Apr-2026): uSmart rates Soon Hock Enterprise as 'buy' with growth

uSmart rates Soon Hock Enterprise as 'buy' due to re-rating potential; Paragon acquisition enhances CICT's retail leadership; Maybank and CGSI...

Singapore Market Roundup

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