Director and Founding Member, Corporate Monitor Limited

Tan Yee Peng

Director and Founding Member

Strengthening Corporate Performance

Corporate Monitor Limited

Corporate Monitor was established to encourage better performance of companies, particularly companies listed on the SGX, and hold their management and boards to account, for the benefit of their shareholders and stakeholders.

Thematic (Sector/Industry)

<ul>
<li>Investors view REITs as high-yield instruments.</li>
<li>However, they may be just receiving (only partially, in some cases) the very capital they put in, based on Corporate Monitor Limited’s(CML) research.</li>
<li>Of the 38 S-REITs covered, 15 S-REITs distributed less than what they raised. </li>
</ul>


Investors view REITs as high-yield instruments.
However, they may be just receiving (only partially, in some cases) the very capital they put in, based on Corporate Monitor Limited’s(CML) research.
Of the 38 S-REITs covered, 15 S-REITs distributed less than what they raised. 


Singapore Reits Sector: Return ON Capital or Return OF Capital?

The New Standard in Wealth Management, Wealth Management Alliance

Wealth Management Alliance

The New Standard in Wealth Management

WMA is a Singapore-based multi-family office with a Capital Markets Services license and provide fund management and investment advisory services to a small number of global UHNW clients. We also act as incubator for single-family offices, allowing them to plug into our broader ecosystem and infrastructure, and tap on our investment professionals for advice. WMA is designed around providing truly bespoke advice to each client, rather than taking a one-size-fits-all approach that may not fit each client's investment objectives and risk tolerances. On top of that, we are designed so that we avoid any semblance of conflicts of interests by being compensated only by the client (which may include profit sharing), as opposed to the model that many of our peers adopt, which include compensation from a variety of third parties such as funds managers, distributors or banks. That, to us, is the easiest way to be firmly on the side of the client in every decision we make.

<ul><li>Given recent investor wariness over a global AI bubble, we think it is instructive to look at how exposed the Singapore stock market is to the Artificial Intelligence (AI) sector, both directly and indirectly.</li><li>On direct exposure, we identify companies listed on the SGX – mainly in the upstream (including data centres) and midstream segments - which are, to a large or some extent, involved in AI. Downstream AI companies are predominately end-users and applications.</li><li>As a rough guide, the market capitalization of these companies totals around SGD21.3bn, accounting for a relatively small share of about 2.7% of the aggregated capitalization of SGD773bn of the FTSE Straits Times All Share Index (which comprises the top 98% of companies in the SGX Mainboard universe).</li></ul>

Given recent investor wariness over a global AI bubble, we think it is instructive to look at how exposed the Singapore stock market is to the Artificial Intelligence (AI) sector, both directly and indirectly.On direct exposure, we identify companies listed on the SGX – mainly in the upstream (including data centres) and midstream segments - which are, to a large or some extent, involved in AI. Downstream AI companies are predominately end-users and applications.As a rough guide, the market capitalization of these companies totals around SGD21.3bn, accounting for a relatively small share of about 2.7% of the aggregated capitalization of SGD773bn of the FTSE Straits Times All Share Index (which comprises the top 98% of companies in the SGX Mainboard universe).

Dealing, Product Financing and Custody Services, Tickrs

Tickrs

Dealing, Product Financing and Custody Services

Tickrs Financial Singapore Pte Ltd (TFS) obtained Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS) in 2022. Product offering include stock trading services across 10 global markets, futures trading, fixed income and wealth management products offering.

<ul><li>This publication highlights 10 Singapore-listed REITs we believe are best positioned for mid- to long- term investors.</li><li>The portfolio balances stability with growth: defensive anchors in healthcare and core commercial REITs, complemented by data-centre, logistics, and hospitality names benefiting from secular digitalisation and tourism trends.</li><li>We forecast ~6% forward yield across the basket, plus mid- single-digit DPU growth as the interest-rate cycle stabilises.</li></ul>

This publication highlights 10 Singapore-listed REITs we believe are best positioned for mid- to long- term investors.The portfolio balances stability with growth: defensive anchors in healthcare and core commercial REITs, complemented by data-centre, logistics, and hospitality names benefiting from secular digitalisation and tourism trends.We forecast ~6% forward yield across the basket, plus mid- single-digit DPU growth as the interest-rate cycle stabilises.

Singapore REITS : TOP 10 S-REITS for Mid & Long-Term Investment

<ul><li>It appears that the Singapore stock market is currently witnessing a positive re-rating, as seen in a rise in the market’s price-earnings ratio while earnings per share has stayed relatively stable. </li><li>In our view, the upward re-rating has come on the back of several key developments. • On the external front, the US will charge Singapore the baseline tariff rate of 10%. While tariffs work against every US trading partner, on a relative basis, Singapore compares well with most other countries.</li><li>Also, amid concerns over US policies and the outlook for the US dollar. anecdotal evidence points to capital flows into Singapore.</li></ul>

It appears that the Singapore stock market is currently witnessing a positive re-rating, as seen in a rise in the market’s price-earnings ratio while earnings per share has stayed relatively stable. In our view, the upward re-rating has come on the back of several key developments. • On the external front, the US will charge Singapore the baseline tariff rate of 10%. While tariffs work against every US trading partner, on a relative basis, Singapore compares well with most other countries.Also, amid concerns over US policies and the outlook for the US dollar. anecdotal evidence points to capital flows into Singapore.

Invest, Trade and Save in Singapore, Syfe

Syfe

Invest, Trade and Save in Singapore

Syfe is an investment platform offering Managed Portfolios, Brokerage services, and Cash Management solutions to help people build wealth for a better future.

Singapore’s Industrial REITs (S-REITs) remain exposed to macroeconomic volatility given the city-state’s trade-dependent economy.The latest U.S. tariff announcements and reciprocal trade measures present risks to export-driven industries, which form a significant tenant base for many REITs. Coupled with lingering inflation pressures and uncertainty around global monetary policy, these dynamics could dampen business sentiment and moderate tenant expansion.Geopolitical tensions and slowing economic growth projections further cloud the near-term outlook.

Singapore’s Industrial REITs (S-REITs) remain exposed to macroeconomic volatility given the city-state’s trade-dependent economy.The latest U.S. tariff announcements and reciprocal trade measures present risks to export-driven industries, which form a significant tenant base for many REITs. Coupled with lingering inflation pressures and uncertainty around global monetary policy, these dynamics could dampen business sentiment and moderate tenant expansion.Geopolitical tensions and slowing economic growth projections further cloud the near-term outlook.

Singapore Industrial REITs: Global Uncertainties as Headwinds Cloud Near-Term Outlook

Singapore

CapitaLand Ascendas REIT is Singapore's first and largest listed business space and industrial real estate investment trust. It focuses on a diversified portfolio of business and industrial properties, including business and science parks, high-specification industrial properties, data centers, light industrial properties, and logistics and distribution centers across Singapore, Australia, Europe, and the US. Headquartered in Singapore, the company was established in 2002.

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CapitaLand Ascendas (CLAR SP)

Singapore Reits Sector: Return ON Capital or Return OF Capital?

Investors view REITs as high-yield instruments. However, they may be just receiving (only partially, in some cases) the very capital they put in,...

Corporate Monitor Limited

Singapore Equity Strategy: November 2025

Given recent investor wariness over a global AI bubble, we think it is instructive to look at how exposed the Singapore stock market is to the...

Wealth Management Alliance

Singapore REITS : TOP 10 S-REITS for Mid & Long-Term Investment

202112304K 137 Market Street #12-01 Singapore 048943 E-mail: [email protected] Tel: +65 6011 1700 TOP 10 S-REITS for Mid & Long-Term...

Tickrs

Singapore Equity Strategy: August 2025

It appears that the Singapore stock market is currently witnessing a positive re-rating, as seen in a rise in the market’s price-earnings ratio...

Wealth Management Alliance

Singapore Industrial REITs: Global Uncertainties as Headwinds Cloud Near-Term Outlook

Singapore’s Industrial REITs (S-REITs) remain exposed to macroeconomic volatility given the city-state’s trade-dependent economy. The latest U.S....

Syfe

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