Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>'Buy' calls for Genting Singapore; DBS keeps 'hold' rating.</li><li>Lim &amp; Tan starts 'buy' on Zixin Group, targeting a price of 6.6 cents.</li><li>Maybank raises Sanli Environmental's target price after $205M PUB project win.</li></ul>

'Buy' calls for Genting Singapore; DBS keeps 'hold' rating.Lim &amp; Tan starts 'buy' on Zixin Group, targeting a price of 6.6 cents.Maybank raises Sanli Environmental's target price after $205M PUB project win.

Singapore Market Roundup (11-Nov-2025): Genting Singapore: Buy rating; DBS maintains Hold.

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pony-ai-inc" target="_blank" data-smartkarma-citation="entities:44035:1" rel="noopener">Pony AI </a> , a leading autonomous mbility technology player based in China, proposes to issue no more than 102 million ordinary shares for a secondary listing on the HKEX.</li>
<li>From a commercialization standpoint, Pony is transitioning from pilot programs to scaled operations - 2025 could be a pivotal year of mass production for its 7th generation (Gen-7) Robotaxis.</li>
<li>Pony is also accelerating its global expansion - it recently announced a partnership with Stellantis, to develop Level 4 autonomous vehicles for the European market.</li>
</ul>



Pony AI  , a leading autonomous mbility technology player based in China, proposes to issue no more than 102 million ordinary shares for a secondary listing on the HKEX.
From a commercialization standpoint, Pony is transitioning from pilot programs to scaled operations - 2025 could be a pivotal year of mass production for its 7th generation (Gen-7) Robotaxis.
Pony is also accelerating its global expansion - it recently announced a partnership with Stellantis, to develop Level 4 autonomous vehicles for the European market.


Pony AI HK Listing: Turning Driverless Technology into a Commercial Reality

<ul><li>DBS and CGS International keep 'hold' rating on Aztech Global.</li><li>DBS reports public transport fare hikes are lower than anticipated.</li><li>JP Morgan notes Keppel's continued asset monetisation in their update.</li></ul>

DBS and CGS International keep 'hold' rating on Aztech Global.DBS reports public transport fare hikes are lower than anticipated.JP Morgan notes Keppel's continued asset monetisation in their update.

Singapore Market Roundup (16-Oct-2025): DBS and CGS maintain 'hold' on Aztech Global stock.

<ul>
<li>OCBC: REIT spin-off is a positive move for Boustead.</li>
<li>CDG's prequalification for Copenhagen Metro boosts profile; CityCab deal may add EPS.</li>
<li>DBS increases AEM target price to $2.10, citing Intel-Nvidia collaboration.</li>
</ul>


OCBC: REIT spin-off is a positive move for Boustead.
CDG's prequalification for Copenhagen Metro boosts profile; CityCab deal may add EPS.
DBS increases AEM target price to $2.10, citing Intel-Nvidia collaboration.


Singapore Market Roundup (19-Sep-2025): OCBC Views Boustead's REIT Spin-Off as a Positive Step.

Invest for a Sustainable Future, Impact Capital Asset Management

ICAM

Invest for a Sustainable Future

Impact Capital Asset Management

Established in August 2020, Impact Capital Asset Management Pte. Ltd. (ICAM) was conceived by seasoned professionals Deepak Mawandia and Atul Tetambe. Both have accumulated a wealth of knowledge and experience from their extensive tenures in the financial sector. In 2019, ICAM secured its RFMC license and subsequently introduced a technology-centric venture fund. By 2021, with the acquisition of its CMS license, ICAM witnessed steady growth in its assets under management. Presently, ICAM manages a portfolio exceeding USD 1 billion, diversified across various countries. Central to ICAM’s foundation is a commitment to offering a platform singularly dedicated to the best interests of its investor clients. The combined expertise of Deepak and Atul firmly establishes ICAM as a notable entity in the wealth management field.

<ul><li>Singapore's EV charging network is impressive with ~15,300 chargers deployed, and COE quotas structured to accelerate electrification.</li><li>But this growth has been driven more by regulation, subsidies, and public mandates than by genuine market demand.</li><li>The bulk of adoption has come from corporate fleets (taxis, buses, and logistics operators) where high daily mileage makes electrification viable.</li></ul>

Singapore's EV charging network is impressive with ~15,300 chargers deployed, and COE quotas structured to accelerate electrification.But this growth has been driven more by regulation, subsidies, and public mandates than by genuine market demand.The bulk of adoption has come from corporate fleets (taxis, buses, and logistics operators) where high daily mileage makes electrification viable.

Singapore

ComfortDelGro Corporation Limited provides bus, taxi, car leasing and rental, automotive engineering, maintenance services, and diesel sales.  The Group also provides investment trading and operates vehicle inspection and assessment services, and advertising services.

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Comfortdelgro Corp (CD SP)

Singapore Market Roundup (11-Nov-2025): Genting Singapore: Buy rating; DBS maintains Hold.

Genting Singapore gets 'buy' calls; DBS holds 'hold' rating. Lim & Tan starts 'buy' on Zixin Group at 6.6 cents. Maybank raises Sanli...

Singapore Market Roundup

Pony AI HK Listing: Turning Driverless Technology into a Commercial Reality

Autonomous mobility is here, and Pony AI is ready to drive it forward with its advanced technology stack, strong OEM alliances, regulatory breadth,...

Devi Subhakesan

Singapore Market Roundup (16-Oct-2025): DBS and CGS maintain 'hold' on Aztech Global stock.

DBS and CGS International maintain 'hold' on Aztech Global. DBS notes lower-than-expected public transport fare hikes; JP Morgan highlights...

Singapore Market Roundup

Singapore Market Roundup (19-Sep-2025): OCBC Views Boustead's REIT Spin-Off as a Positive Step.

OCBC sees Boustead's REIT spin-off positively; CDG's Copenhagen Metro prequalification enhances its profile; DBS raises AEM target price to $2.10...

Singapore Market Roundup

EV and Sustainable Transport

Singapore's EV charging network is impressive with ~15,300 chargers deployed, and COE quotas structured to accelerate electrification.

ICAM

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