Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>Analysts upgrade CDLHT after strong FY2025 results; Citi maintains 'sell' rating.      </li>
<li>CGS International starts coverage on Nam Cheong.</li>
<li>Maybank maintains 'buy' rating on Coliwoo amid ongoing expansion.</li>
</ul>


Analysts upgrade CDLHT after strong FY2025 results; Citi maintains 'sell' rating.      
CGS International starts coverage on Nam Cheong.
Maybank maintains 'buy' rating on Coliwoo amid ongoing expansion.


Singapore Market Roundup (02-Feb-2026): CDLHT upgraded post FY2025 results; Citi stays 'sell'.

<ul><li>Seatrium faces 'arbitration noise,' yet CGSI and Citi maintain positive outlooks.</li><li>RHB maintains 'buy' on Raffles Medical Group for potential growth in 2HFY2025.</li><li>CGSI sees strong re-rating potential for Info-Tech Systems after its post-IPO drop.</li></ul>

Seatrium faces 'arbitration noise,' yet CGSI and Citi maintain positive outlooks.RHB maintains 'buy' on Raffles Medical Group for potential growth in 2HFY2025.CGSI sees strong re-rating potential for Info-Tech Systems after its post-IPO drop.

Singapore Market Roundup (23-Jan-2026): Seatrium endures 'arbitration noise' but CGSI and Citi

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>GIC and Realty Income have launched a $1.5 billion logistics joint venture in North America, emphasizing growth in the logistics sector.</li><li>Malaysia's IGB has sold a Central London hotel to Criterion Capital for $297 million, indicating a significant change in the hospitality market.</li><li>Empyrion has started construction on its first data center in Taiwan, contributing to the evolving Asia-Pacific real estate landscape.</li></ul>

GIC and Realty Income have launched a $1.5 billion logistics joint venture in North America, emphasizing growth in the logistics sector.Malaysia's IGB has sold a Central London hotel to Criterion Capital for $297 million, indicating a significant change in the hospitality market.Empyrion has started construction on its first data center in Taiwan, contributing to the evolving Asia-Pacific real estate landscape.

Asia Real Estate Tracker (14-Jan-2026): GIC and Realty Income partner on $1.5B logistics venture.

<ul><li>RHB raises Centurion's target price to $1.86, adding Perth PBSA project.</li><li>RHB calls CAREIT an appealing diversification with decent yields in an unrated report.</li><li>Analysts predict significant growth potential for LHN.</li></ul>

RHB raises Centurion's target price to $1.86, adding Perth PBSA project.RHB calls CAREIT an appealing diversification with decent yields in an unrated report.Analysts predict significant growth potential for LHN.

Singapore Market Roundup (09-Dec-2025): RHB raises Centurion's target price to $1.86 with Perth

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>US banks show continued strength and the overall economy, from the weekly balance sheet data and the CP market</li>
<li>Total loans continue to accelerate in most recent week to 5.4% and loan loss reserves show almost no growth, for many weeks</li>
<li>CP growth rate is less, but it remains high at 26% and this is a good sign of industrial demand for working capital</li>
</ul>


US banks show continued strength and the overall economy, from the weekly balance sheet data and the CP market
Total loans continue to accelerate in most recent week to 5.4% and loan loss reserves show almost no growth, for many weeks
CP growth rate is less, but it remains high at 26% and this is a good sign of industrial demand for working capital


US Banks - Further Accelerating Loans 5.4% YoY, Benign 0.56% LLR YoY, Credit Conditions Very Good

United States

Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers. The Company services include investment banking, retail brokerage, corporate banking, and cash management products and services. Citigroup serves customers globally.

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Citigroup Inc (C US)

Singapore Market Roundup (02-Feb-2026): CDLHT upgraded post FY2025 results; Citi stays 'sell'.

Analysts upgrade CDLHT post strong FY2025 results; Citi keeps 'sell' on CDLHT. CGS starts Nam Cheong coverage, while Maybank maintains 'buy' on...

Singapore Market Roundup

Singapore Market Roundup (23-Jan-2026): Seatrium endures 'arbitration noise' but CGSI and Citi

Seatrium encounters arbitration issues, but CGSI and Citi remain optimistic. RHB keeps 'buy' on Raffles Medical, while CGSI sees re-rating...

Singapore Market Roundup

Asia Real Estate Tracker (14-Jan-2026): GIC and Realty Income partner on $1.5B logistics venture.

GIC and Realty Income launched a $1.5 billion logistics joint venture, while IGB sold a London hotel for $297M, and Empyrion began its first data...

Asia Real Estate Tracker

Singapore Market Roundup (09-Dec-2025): RHB raises Centurion's target price to $1.86 with Perth

RHB raises Centurion's target price to $1.86, highlights Perth PBSA project, and sees CAREIT as a strong diversification with good yields; LHN...

Singapore Market Roundup

US Banks - Further Accelerating Loans 5.4% YoY, Benign 0.56% LLR YoY, Credit Conditions Very Good

US banks show continued strength in weekly balance sheets, accelerating loan growth at 5.43% YoY with only 0.56% YoY growth in loan loss reserves....

Daniel Tabbush

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