Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>Food Empire prepares for growth with a financial war chest.             </li>
<li>DBS raises MPACT target price to $1.60 as earnings hit bottom.</li>
<li>SATS positioned well to benefit from trade redirection, says CGSI.</li>
</ul>


Food Empire prepares for growth with a financial war chest.             
DBS raises MPACT target price to $1.60 as earnings hit bottom.
SATS positioned well to benefit from trade redirection, says CGSI.


Singapore Market Roundup (25-Sep-2025): Food Empire gears up for growth with funds ready.

<ul>
<li>RHB lowers CDLHT target price due to market challenges.         </li>
<li>RHB calls ST Engineering a high-quality, defensive growth opportunity.</li>
<li>Ready-to-eat at 7-Eleven could prompt a re-rating for DFI Retail.</li>
</ul>


RHB lowers CDLHT target price due to market challenges.         
RHB calls ST Engineering a high-quality, defensive growth opportunity.
Ready-to-eat at 7-Eleven could prompt a re-rating for DFI Retail.


Singapore Market Roundup (24-Sep-2025): RHB cuts CDLHT target price amid market challenges.

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

<ul><li><a href="https://www.smartkarma.com/entities/starhill-global-reit" target="_blank" data-smartkarma-citation="entities:10791" rel="noopener">Starhill Global REIT (SGREIT SP)</a> 3Q22 Business Updates – Occupancy holding up strong; AEI works at Wisma Completed</li><li><a href="https://www.smartkarma.com/entities/mapletree-logistics-trust" target="_blank" data-smartkarma-citation="entities:16035" rel="noopener">Mapletree Logistics Trust (MLT SP)</a> 4Q22 DPU +5.0% YoY; Healthy reversions and higher DPU and NAV due to acquisitions</li><li><span style="font-size: var(--content-font-size);"><a href="https://www.smartkarma.com/entities/cdl-hospitality-trusts" target="_blank" data-smartkarma-citation="entities:936" rel="noopener">CDL Hospitality Trusts (CDREIT SP)</a> 1Q22 Business Updates – Recovery story intact with SG portfolio leading the way</span></li></ul>

Starhill Global REIT (SGREIT SP) 3Q22 Business Updates – Occupancy holding up strong; AEI works at Wisma CompletedMapletree Logistics Trust (MLT SP) 4Q22 DPU +5.0% YoY; Healthy reversions and higher DPU and NAV due to acquisitionsCDL Hospitality Trusts (CDREIT SP) 1Q22 Business Updates – Recovery story intact with SG portfolio leading the way

ASEAN Builder's Scoop (29Apr22) - SGREIT Robust Occupancy

<ul><li><a href="https://www.smartkarma.com/entities/cdl-hospitality-trusts" target="_blank" data-smartkarma-citation="entities:936" rel="noopener">CDL Hospitality Trusts (CDREIT SP)</a> acquires Hotel Brooklyn in Manchester, UK; ~1.1% accretion to DPU</li><li>Joint investment of Sumitomo units and ARA invest S$297m in Capital Square</li><li><a href="https://www.smartkarma.com/entities/sm-prime-holdings-inc" target="_blank" data-smartkarma-citation="entities:89" rel="noopener">Sm Prime Holdings (SMPH PM)</a> earnings surprise on the upside (Regina Capital)</li></ul>

CDL Hospitality Trusts (CDREIT SP) acquires Hotel Brooklyn in Manchester, UK; ~1.1% accretion to DPUJoint investment of Sumitomo units and ARA invest S$297m in Capital SquareSm Prime Holdings (SMPH PM) earnings surprise on the upside (Regina Capital)

ASEAN Builder's Scoop 22Feb22 - CDREIT Buys Manchester Hotel

<ul><li><a href="https://www.smartkarma.com/entities/capitaland-integrated-commercial-trust" target="_blank" data-smartkarma-citation="entities:105" rel="noopener">Capitaland Integrated Commercial Trust (CICT SP)</a> 2H21 DPU -8.9% YoY; Office cap rates compressed while retail rental reversions improving   </li><li><a href="https://www.smartkarma.com/entities/mapletree-north-asia-commercial-trust" target="_blank" data-smartkarma-citation="entities:5127" rel="noopener">Mapletree North Asia Commercial Trust (MAGIC SP)</a> 3Q22 Business Updates – High occupancies a priority against falling reversions</li><li><a href="https://www.smartkarma.com/entities/ascott-residence-trust" target="_blank" data-smartkarma-citation="entities:6560" rel="noopener">Ascott Residence Trust (ART SP)</a> 2H21 DPU +14% YoY; RevPAU rebounded strongly with plenty of growth initiatives in the pipelines</li></ul>

Capitaland Integrated Commercial Trust (CICT SP) 2H21 DPU -8.9% YoY; Office cap rates compressed while retail rental reversions improving   Mapletree North Asia Commercial Trust (MAGIC SP) 3Q22 Business Updates – High occupancies a priority against falling reversionsAscott Residence Trust (ART SP) 2H21 DPU +14% YoY; RevPAU rebounded strongly with plenty of growth initiatives in the pipelines

ASEAN Builder's Scoop (28Jan22) - CICT Office Cap Rates Compressed

Singapore

CDL Hospitality Trusts is a stapled group that invests in a diversified global portfolio of income-producing real estate for hospitality, hospitality-related, and other accommodation purposes, including hotels, resorts, student accommodation, and build-to-rent apartments. Its portfolio includes 22 properties across eight countries. The company is headquartered in Singapore and was founded in 2006.

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CDL Hospitality (CDREIT SP)

Singapore Market Roundup (25-Sep-2025): Food Empire gears up for growth with funds ready.

Food Empire gears up for growth with financial support. DBS raises MPACT target to $1.60 as earnings stabilize. SATS set to gain from trade...

Singapore Market Roundup

Singapore Market Roundup (24-Sep-2025): RHB cuts CDLHT target price amid market challenges.

RHB reduces CDLHT target price amid market challenges, views ST Engineering as a strong growth opportunity, and sees 7-Eleven's ready-to-eat...

Singapore Market Roundup

ASEAN Builder's Scoop (29Apr22) - SGREIT Robust Occupancy

MLT boosted by acquisitions; CDREIT SG portfolio leading the way; ART lacklustre in SG, CN; FHT improvements across mrkts; ELITE 7.5+% GBP yield;...

SCCM Asia Research

ASEAN Builder's Scoop 22Feb22 - CDREIT Buys Manchester Hotel

ARA JVs invests ~S$300m in Capital Square; SMPH earnings surprised on upside; Stable revs buoys RCR earnings; Astra Land JVs with HKL to grow...

SCCM Asia Research

ASEAN Builder's Scoop (28Jan22) - CICT Office Cap Rates Compressed

MAGIC high occupancy a priority; ART RevPAU rebounded strongly; CDREIT underlying operations recovering; FHT QoQ ongoing recovery; MREIT to acquire...

SCCM Asia Research

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