Head of Digital Services at Singapore Post Ltd, Singapore Post Limited

Bernard Leong

Head of Digital Services at Singapore Post Ltd

Singapore Post Limited

Thematic (Sector/Industry)

<p>How should digital leaders advise businesses? Two ways: target the high and low ends of the market while allowing cannibalisation against their current business model in a controlled pace.&nbsp;The trick lies in capital allocation and separation of the products/services moving towards both ends. Digital products often require high cost of acquisition contrary to perception by businesses that it is cheaper against traditional channels.</p>

How should digital leaders advise businesses? Two ways: target the high and low ends of the market while allowing cannibalisation against their current business model in a controlled pace.&nbsp;The trick lies in capital allocation and separation of the products/services moving towards both ends. Digital products often require high cost of acquisition contrary to perception by businesses that it is cheaper against traditional channels.

Digital disruption bifurcates traditional market segmentation

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)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

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.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>The FTSE ST Industrials Index recorded S$265 million in net institutional inflows and S$193 million ADT last year.</li><li>Marco Polo Marine and Hong Leong Asia ranked among top 10 stocks for 2025 returns and institutional inflows.</li><li>Sanli Environmental's 2H25 ADT surged nearly 75 times, while Soilbuild Construction Group saw a 26-fold increase.</li></ul>

The FTSE ST Industrials Index recorded S$265 million in net institutional inflows and S$193 million ADT last year.Marco Polo Marine and Hong Leong Asia ranked among top 10 stocks for 2025 returns and institutional inflows.Sanli Environmental's 2H25 ADT surged nearly 75 times, while Soilbuild Construction Group saw a 26-fold increase.

FTSE ST Industrials Index Powered Ahead with 44% Total Return in 2025

Hutchison Port Holdings / Equity Bottom-Up

<ul><li>Hong Leong Asia achieved a 141% total return with S$53 million net institutional inflows, driven by MTU Series 2000 engines launch.</li><li>Hiap Seng Industries' ADT rose significantly after Chandra Asri Group acquired an 11.87% equity interest, boosting collaboration opportunities.</li><li>Singapore's SMID Industrials, including Hiap Seng Industries, Soilbuild Construction, and ASL Marine, saw significant turnover growth in 2H25.</li></ul>

Hong Leong Asia achieved a 141% total return with S$53 million net institutional inflows, driven by MTU Series 2000 engines launch.Hiap Seng Industries' ADT rose significantly after Chandra Asri Group acquired an 11.87% equity interest, boosting collaboration opportunities.Singapore's SMID Industrials, including Hiap Seng Industries, Soilbuild Construction, and ASL Marine, saw significant turnover growth in 2H25.

FTSE ST Industrials Index Holds 40% YTD Total Return in November 

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

Vriddhi Consulting

Punit Khanna

Independent Insight Provider

<ul>
<li>Multi-National and multimodal transportation company with well diversified transportation business operating from Singapore.</li>
<li>ROE has started improving from low base of below 6% to around 8% over the last couple of years</li>
<li>Underlying business is stable. Dividend yield at 5.5% is better than Singapore market </li>
</ul>
<div class="content-highlight">
<h2>Raising Money for Persons with Disabilities in Singapore</h2>
<p><em><strong>For your kind consideration</strong></em></p>
<p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum. We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
<p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
<p>To contribute, please visit this <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">URL</a>.</p>
</div>


Multi-National and multimodal transportation company with well diversified transportation business operating from Singapore.
ROE has started improving from low base of below 6% to around 8% over the last couple of years
Underlying business is stable. Dividend yield at 5.5% is better than Singapore market 


Raising Money for Persons with Disabilities in Singapore
For your kind consideration
This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum. We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
To contribute, please visit this URL.


ComfortDelgro: Global Public Transport Company with Dividend Yield Better than Singapore Market

Singapore

ComfortDelGro is a multinational land transport company that offers a comprehensive suite of transportation solutions, including bus, rail, taxi, car rental and leasing, and automotive engineering services. The company also provides inspection and testing services, driving instruction, and outdoor advertising. Headquartered in Singapore, ComfortDelGro was formed on March 29, 2003, through the merger of Comfort Group and DelGro Corporation.

Price Gauge
52-week Range	0.00 - 0.00
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ComfortDelGro (CD SP)

Digital disruption bifurcates traditional market segmentation

How should digital leaders advise businesses? Two ways: target the high and low ends of the market while allowing cannibalisation against their...

Bernard Leong

FTSE ST Industrials Index Powered Ahead with 44% Total Return in 2025

The FTSE ST Industrials Index recorded S$265 million in net institutional inflows and S$193 million ADT last year. Marco Polo Marine and Hong...

Singapore Exchange Ltd (SGX)

FTSE ST Industrials Index Holds 40% YTD Total Return in November

Hong Leong Asia achieved a 141% total return with S$53 million net institutional inflows, driven by MTU Series 2000 engines launch. Hiap Seng...

Singapore Exchange Ltd (SGX)

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

ComfortDelgro: Global Public Transport Company with Dividend Yield Better than Singapore Market

Singapore-based transportation company shows improved ROE and stable business, offering a higher dividend yield than the local market.

Punit Khanna

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Digital disruption bifurcates traditional market segmentation

How should digital leaders advise businesses? Two ways: target the high and low ends of the market while allowing cannibalisation against their...

Bernard Leong

FTSE ST Industrials Index Powered Ahead with 44% Total Return in 2025

The FTSE ST Industrials Index recorded S$265 million in net institutional inflows and S$193 million ADT last year. Marco Polo Marine and Hong...

Singapore Exchange Ltd (SGX)

FTSE ST Industrials Index Holds 40% YTD Total Return in November

Hong Leong Asia achieved a 141% total return with S$53 million net institutional inflows, driven by MTU Series 2000 engines launch. Hiap Seng...

Singapore Exchange Ltd (SGX)

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

ComfortDelgro: Global Public Transport Company with Dividend Yield Better than Singapore Market

​Singapore-based transportation company shows improved ROE and stable business, offering a higher dividend yield than the local market.

Punit Khanna

Singapore-based transportation company shows improved ROE and stable business, offering a higher dividend yield than the local market.