Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>OCBC's Lim keeps 'buy' on CLAS, but reduces fair value to 95 cents.</li><li>CGS's Tng doubles AEM's target price to $10.15, citing multi-year earnings growth.</li><li>JP Morgan, DBS, and RHB favor Suntec REIT; Morgan Stanley targets $1.10.</li></ul>

OCBC's Lim keeps 'buy' on CLAS, but reduces fair value to 95 cents.CGS's Tng doubles AEM's target price to $10.15, citing multi-year earnings growth.JP Morgan, DBS, and RHB favor Suntec REIT; Morgan Stanley targets $1.10.

Singapore Market Roundup (27-Apr-2026): OCBC's Lim maintains 'buy' on CLAS, lowers fair value to

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

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With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

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Equity Bottom-Up

<ul><li>In 9M26, 80 SGX primary-listed companies repurchased S$2.38 billion of shares, surpassing 2025's S$2.23 billion total.</li><li>Singtel and Keppel led 9M26 buybacks with S$1.05 billion and S$365 million, representing 59% of total consideration.</li><li>Seatrium launched a new S$200 million buyback programme after fully utilising a previous S$100 million programme.</li></ul>

In 9M26, 80 SGX primary-listed companies repurchased S$2.38 billion of shares, surpassing 2025's S$2.23 billion total.Singtel and Keppel led 9M26 buybacks with S$1.05 billion and S$365 million, representing 59% of total consideration.Seatrium launched a new S$200 million buyback programme after fully utilising a previous S$100 million programme.

2026 Buyback Consideration Exceeds Full-Year 2025 Total

<ul><li>Chew raises TeleChoice target price to 27.5 cents due to mobile logistics growth.</li><li>RHB's Yeo maintains 'buy' on HRnetGroup, raises target price to 83 cents.</li><li>Wong raises FEHT target price to 75 cents on tourism recovery and value potential.</li></ul>

Chew raises TeleChoice target price to 27.5 cents due to mobile logistics growth.RHB's Yeo maintains 'buy' on HRnetGroup, raises target price to 83 cents.Wong raises FEHT target price to 75 cents on tourism recovery and value potential.

Singapore Market Roundup (17-Mar-2026): Chew raises TeleChoice target to 27.5 cents on growth.

<ul><li>CGSI keeps 'add' on Oiltek, lowers target to 94 cents due to reduced revenue.</li><li>Chew of PhillipCapital increases Geo Energy's target price to 75 cents.</li><li>ST Engineering and Addvalue benefit from defense trends, says Maybank.</li></ul>

CGSI keeps 'add' on Oiltek, lowers target to 94 cents due to reduced revenue.Chew of PhillipCapital increases Geo Energy's target price to 75 cents.ST Engineering and Addvalue benefit from defense trends, says Maybank.

Singapore Market Roundup (16-Mar-2026): CGSI maintains 'add' rating on Oiltek, target at 94 cents.

<ul><li>AEM rises for second day; DBS raises target to $3.30, Maybank upgrades to 'buy'.</li><li>Brokers' Digest: Marco Polo, iFAST, UHREIT, Addvalue, SGX, BRC Asia, SIA Eng, ISOTeam, Starhub</li><li>Analysts maintain 'neutral' stance on Sembcorp post FY2025 results.</li></ul>

AEM rises for second day; DBS raises target to $3.30, Maybank upgrades to 'buy'.Brokers' Digest: Marco Polo, iFAST, UHREIT, Addvalue, SGX, BRC Asia, SIA Eng, ISOTeam, StarhubAnalysts maintain 'neutral' stance on Sembcorp post FY2025 results.

Singapore Market Roundup (27-Feb-2026): AEM up 2nd day; DBS targets $3.30, Maybank upgrades to

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Addvalue Technologies (ADDV SP)

Singapore Market Roundup (27-Apr-2026): OCBC's Lim maintains 'buy' on CLAS, lowers fair value to

OCBC maintains 'buy' on CLAS, lowering fair value to 95 cents. CGS raises AEM's target to $10.15. JP Morgan, DBS, and RHB favor Suntec REIT; Morgan...

Singapore Market Roundup

2026 Buyback Consideration Exceeds Full-Year 2025 Total

In 9M26, 80 SGX primary-listed companies repurchased S$2.38 billion of shares, surpassing 2025's S$2.23 billion total. Singtel and Keppel led 9M26...

Singapore Exchange Ltd (SGX)

Singapore Market Roundup (17-Mar-2026): Chew raises TeleChoice target to 27.5 cents on growth.

Chew raises TeleChoice target to 27.5c; RHB's Yeo maintains 'buy' on HRnetGroup, target at 83c; Wong raises FEHT target to 75c on tourism recovery.

Singapore Market Roundup

Singapore Market Roundup (16-Mar-2026): CGSI maintains 'add' rating on Oiltek, target at 94 cents.

CGSI maintains 'add' on Oiltek, lowering target to 94 cents. Chew raises Geo Energy's target to 75 cents. ST Engineering and Addvalue benefit from...

Singapore Market Roundup

Singapore Market Roundup (27-Feb-2026): AEM up 2nd day; DBS targets $3.30, Maybank upgrades to

AEM gains for a second day; DBS raises target to $3.30, Maybank upgrades to 'buy'. Analysts keep 'neutral' stance on Sembcorp after FY2025 results.

Singapore Market Roundup

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