Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>UOB Kay Hian keeps 'buy' rating on Food Empire, target price at $3.49.</li><li>Goldman Sachs reports limited impact from China's July 1 cross-border curbs.</li><li>RHB upgrades First Resources to 'buy' with target price of $3.70.</li></ul>

UOB Kay Hian keeps 'buy' rating on Food Empire, target price at $3.49.Goldman Sachs reports limited impact from China's July 1 cross-border curbs.RHB upgrades First Resources to 'buy' with target price of $3.70.

Singapore Market Roundup (22-Jun-2026): UOB Kay Hian maintains 'buy' on Food Empire, price target

Managing Director, Golden Section Capital

Garreth Elston

Managing Director

Golden Section Equity Research

Golden Section Capital

Golden Section Capital is a private international investment, specialist independent equity research, and corporate finance consulting services provider focussing on real estate and infrastructure. 

Paid for corporate research on Real Estate and Infrastructure companies. Plus independent pieces on various real estate companies and themes.

<ul>
<li>The iEdge Singapore Next 50 is effectively a global growth proxy, with ~51% of revenues generated offshore, sharply reducing reliance on Singapore’s domestic and banking cycles.</li>
<li>Its mid-cap, real-asset and industrial skew creates structurally different earnings drivers from the STI, tied to trade flows, infrastructure, healthcare, and technology capex rather than credit growth.</li>
<li>The index offers diversification without governance compromise, using Singapore’s regulatory framework as a platform to access faster-growing ASEAN, Indian, and global markets.</li>
</ul>


The iEdge Singapore Next 50 is effectively a global growth proxy, with ~51% of revenues generated offshore, sharply reducing reliance on Singapore’s domestic and banking cycles.
Its mid-cap, real-asset and industrial skew creates structurally different earnings drivers from the STI, tied to trade flows, infrastructure, healthcare, and technology capex rather than credit growth.
The index offers diversification without governance compromise, using Singapore’s regulatory framework as a platform to access faster-growing ASEAN, Indian, and global markets.


The Global Footprint of the iEdge Singapore Next 50

<ul>
<li>OCBC's research head may increase banks' 2025 profit forecasts due to fewer expected Fed cuts, indicating positive outcomes for investors.</li>
<li>Brokers' Digest highlights updates on CapitaLand Investment, DBS, Sembcorp, Hong Leong Asia, and First Resources, offering valuable insights for investors.</li>
<li>DBS recommends investing in Keppel Infrastructure Trust for stable dividends and growth, presenting a lucrative opportunity for investors seeking long-term returns.</li>
</ul>


OCBC's research head may increase banks' 2025 profit forecasts due to fewer expected Fed cuts, indicating positive outcomes for investors.
Brokers' Digest highlights updates on CapitaLand Investment, DBS, Sembcorp, Hong Leong Asia, and First Resources, offering valuable insights for investors.
DBS recommends investing in Keppel Infrastructure Trust for stable dividends and growth, presenting a lucrative opportunity for investors seeking long-term returns.


Singapore Market Roundup (20-Dec-2024): Key Updates on CapitaLand, DBS, Sembcorp, Hong Leong

<ul>
<li>CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry</li>
<li>DBS retains 'buy' rating and $3.85 target price for CapitaLand Investment after $200M Wingate deal</li>
<li>UOB Kay Hian sees Hong Leong Asia as undervalued with two growth engines, advising investors to consider the stock opportunity</li>
</ul>


CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry
DBS retains 'buy' rating and $3.85 target price for CapitaLand Investment after $200M Wingate deal
UOB Kay Hian sees Hong Leong Asia as undervalued with two growth engines, advising investors to consider the stock opportunity


Singapore Market Roundup (16-Dec-2024): Medical Tourism Boosts ASEAN Hospitals

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>Singapore's top 10 non-cyclical consumer stocks averaged a 26.7% YTD return, driven by firm CPO prices and retail demand.</li><li>First Resources and Bumitama Agri led performance, with YTD returns of 116.7% and 59.5%, supported by biodiesel mandates.</li><li>Wilmar International reported a 12.8% increase in pre-tax profit for 1H2026, with S$276.7 million net institutional inflows.</li></ul>

Singapore's top 10 non-cyclical consumer stocks averaged a 26.7% YTD return, driven by firm CPO prices and retail demand.First Resources and Bumitama Agri led performance, with YTD returns of 116.7% and 59.5%, supported by biodiesel mandates.Wilmar International reported a 12.8% increase in pre-tax profit for 1H2026, with S$276.7 million net institutional inflows.

Sector Sweep - Defensive Consumer Stocks Deliver Robust Performance Amid Strong  Institutional Inflows 

Singapore

First Resources is a leading palm oil producer involved in cultivating oil palms, harvesting fresh fruit bunches, and milling them into crude palm oil and palm kernel. The company further processes these into higher-value palm-based products such as biodiesel, refined palm oil, and palm kernel oil. Headquartered in Singapore, the company was founded in 1992.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

First Resources (FR SP)

Singapore Market Roundup (22-Jun-2026): UOB Kay Hian maintains 'buy' on Food Empire, price target

UOB Kay Hian maintains 'buy' on Food Empire at $3.49. Goldman Sachs sees limited effect from China's curbs. RHB upgrades First Resources to 'buy'...

Singapore Market Roundup

The Global Footprint of the iEdge Singapore Next 50

The iEdge Singapore Next 50 index delivers global growth, diversified earnings, and lower STI correlation, using Singapore governance to invest in...

Golden Section Capital

Singapore Market Roundup (20-Dec-2024): Key Updates on CapitaLand, DBS, Sembcorp, Hong Leong

Brokers highlight CapitaLand Investment, DBS, Sembcorp, Hong Leong Asia, First Resources, and recommend investing in Keppel Infrastructure Trust...

Singapore Market Roundup

Singapore Market Roundup (16-Dec-2024): Medical Tourism Boosts ASEAN Hospitals

CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry. DBS retains 'buy' rating and $3.85...

Singapore Market Roundup

Sector Sweep - Defensive Consumer Stocks Deliver Robust Performance Amid Strong Institutional Inflows

Singapore's top 10 non-cyclical consumer stocks averaged a 26.7% YTD return, driven by firm CPO prices and retail demand. First Resources and...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Singapore Market Roundup (22-Jun-2026): UOB Kay Hian maintains 'buy' on Food Empire, price target

UOB Kay Hian maintains 'buy' on Food Empire at $3.49. Goldman Sachs sees limited effect from China's curbs. RHB upgrades First Resources to 'buy'...

Singapore Market Roundup

The Global Footprint of the iEdge Singapore Next 50

​The iEdge Singapore Next 50 index delivers global growth, diversified earnings, and lower STI correlation, using Singapore governance to invest in...

Golden Section Capital

Singapore Market Roundup (20-Dec-2024): Key Updates on CapitaLand, DBS, Sembcorp, Hong Leong

Brokers highlight CapitaLand Investment, DBS, Sembcorp, Hong Leong Asia, First Resources, and recommend investing in Keppel Infrastructure Trust...

Singapore Market Roundup

Singapore Market Roundup (16-Dec-2024): Medical Tourism Boosts ASEAN Hospitals

CGS International predicts significant growth in ASEAN hospitals due to medical tourism boosting the industry. DBS retains 'buy' rating and $3.85...

Singapore Market Roundup

Sector Sweep - Defensive Consumer Stocks Deliver Robust Performance Amid Strong Institutional Inflows

Singapore's top 10 non-cyclical consumer stocks averaged a 26.7% YTD return, driven by firm CPO prices and retail demand. First Resources and...

Singapore Exchange Ltd (SGX)

The iEdge Singapore Next 50 index delivers global growth, diversified earnings, and lower STI correlation, using Singapore governance to invest in...