Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>Maybank sets Food Empire target at $2.92; CGS holds bullish $2.94.</li>
<li>RHB downgrades APAC Realty, citing support from its dividend yield.</li>
<li>UOBKH's Loh raises Hong Leong Asia target price to $2.82, citing BRC Asia stake.</li>
</ul>


Maybank sets Food Empire target at $2.92; CGS holds bullish $2.94.
RHB downgrades APAC Realty, citing support from its dividend yield.
UOBKH's Loh raises Hong Leong Asia target price to $2.82, citing BRC Asia stake.


Singapore Market Roundup (16-Sep-2025): Maybank Targets Food Empire at $2.92; CGS Sees $2.94.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Centurion Accommodation REIT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/centurion-accomodation-reit" target="_blank" data-smartkarma-citation="entities:45779:1" rel="noopener">Centurion Accomodation REIT (CAREIT SP)</a> is the exclusive S-REIT vehicle sponsored by <a href="https://www.smartkarma.com/entities/centurion-corp-ltd" target="_blank" data-smartkarma-citation="entities:5186:1" rel="noopener">Centurion Corp (CENT SP)</a>. It is seeking to raise up to US$600 million in an SGX IPO. </li>
<li>The Initial Portfolio will comprise 14 assets, with five PBWA assets located in Singapore, eight PBSA assets located in the United Kingdom, and one PBSA asset located in Australia.</li>
<li>Centurion Accommodation REIT offers an attractive value proposition due to its structural demand drivers, diversified portfolio, high occupancy rates, growth opportunities, and sizable debt headroom.</li>
</ul>



Centurion Accomodation REIT (CAREIT SP) is the exclusive S-REIT vehicle sponsored by Centurion Corp (CENT SP). It is seeking to raise up to US$600 million in an SGX IPO. 
The Initial Portfolio will comprise 14 assets, with five PBWA assets located in Singapore, eight PBSA assets located in the United Kingdom, and one PBSA asset located in Australia.
Centurion Accommodation REIT offers an attractive value proposition due to its structural demand drivers, diversified portfolio, high occupancy rates, growth opportunities, and sizable debt headroom.


Centurion Accommodation REIT IPO: The Investment Case

<ul><li>UOBKH's Loh raises Hong Leong Asia target price to $2.82 due to BRC Asia stake.</li><li>RHB's Jaiswal raises SGX target price to $17.80 amid growing IPO momentum.</li><li>PhillipCapital starts coverage on SIA Engineering amid MRO upcycle.</li></ul>

UOBKH's Loh raises Hong Leong Asia target price to $2.82 due to BRC Asia stake.RHB's Jaiswal raises SGX target price to $17.80 amid growing IPO momentum.PhillipCapital starts coverage on SIA Engineering amid MRO upcycle.

Singapore Market Roundup (15-Sep-2025): UOBKH's Loh raises Hong Leong Asia target to $2.82.

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 294% versus MSCI ASEAN’s 57%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Four stocks remain, 10 stocks added into portfolio
Since its inception, the portfolio has generated a before-fee total return of 294% versus MSCI ASEAN’s 57%


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>The Unified Industrial joint venture, supported by Macquarie, aims to create a new industrial REIT in Singapore.</li>
<li>AXA IM Alts is expanding its Build-to-Rent platform with a new project in Melbourne, Australia.</li>
<li>China's Q2 property investment deals have dropped by 46%, impacting the overall APAC market significantly.</li>
</ul>


The Unified Industrial joint venture, supported by Macquarie, aims to create a new industrial REIT in Singapore.
AXA IM Alts is expanding its Build-to-Rent platform with a new project in Melbourne, Australia.
China's Q2 property investment deals have dropped by 46%, impacting the overall APAC market significantly.


Asia Real Estate Tracker (03-Sep-2025): Unified Industrial JV proposes Singapore REIT.

Singapore

Centurion Corporation Limited owns, develops and manages quality, purpose-built workers accommodation assets in Singapore and Malaysia, and student accommodation assets in Australia, South Korea, the United Kingdom and the United States.

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Centurion Corp (CENTURION HK)

Singapore Market Roundup (16-Sep-2025): Maybank Targets Food Empire at $2.92; CGS Sees $2.94.

Maybank targets Food Empire at $2.92; CGS at $2.94. RHB downgrades APAC Realty. UOBKH raises Hong Leong Asia target to $2.82, citing BRC Asia stake.

Singapore Market Roundup

Centurion Accommodation REIT IPO: The Investment Case

Centurion Accommodation REIT is seeking to raise up to US$600 million in an SGX IPO. In this note, I discuss the investment thesis.

Arun George

Singapore Market Roundup (15-Sep-2025): UOBKH's Loh raises Hong Leong Asia target to $2.82.

UOBKH raises Hong Leong Asia's target price to $2.82; RHB raises SGX to $17.80 with IPO momentum; PhillipCapital begins coverage on SIA Engineering...

Singapore Market Roundup

The Stocks to Own in ASEAN – Vol. 52

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Four stocks remain, 10 stocks added.

A. Stotz Investment Research

Asia Real Estate Tracker (03-Sep-2025): Unified Industrial JV proposes Singapore REIT.

Unified Industrial plans a new industrial REIT in Singapore, while AXA IM Alts expands its Build-to-Rent in Melbourne, amid a 46% drop in China's...

Asia Real Estate Tracker

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