Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>CGSI has a positive outlook on Sembcorp.                                        </li>
<li>Maybank downgrades Sheng Siong to 'hold' with reduced target price.</li>
<li>DBS keeps 'buy' rating on Singtel amid Airtel's postpaid price hike.</li>
</ul>


CGSI has a positive outlook on Sembcorp.                                        
Maybank downgrades Sheng Siong to 'hold' with reduced target price.
DBS keeps 'buy' rating on Singtel amid Airtel's postpaid price hike.


Singapore Market Roundup (09-Oct-2026): CGSI is optimistic about Sembcorp.

SAC Capital

Independent Insight Provider

Equity Bottom-Up

<ul>
<li>FY2026 Results: ISOTeam’s FY26 result shows a softer-than-expected performance. The revenue of FY26 fall by 11.3% YoY to S$105.7 million in FY26.</li>
<li>This was 16.3% below our forecast, primarily due to the delays between contract award and project commencement in Repairs &amp; Redecoration (–18.6% YoY), Addition&amp;Alteration (-17.5% YoY) and Coating&amp;Painting (-8.1%) segments.</li>
<li>Following the implementation of cost-saving measures, gross margin improved 2.3 ppt YoY to 18.3% in FY26.</li>
</ul>


FY2026 Results: ISOTeam’s FY26 result shows a softer-than-expected performance. The revenue of FY26 fall by 11.3% YoY to S$105.7 million in FY26.
This was 16.3% below our forecast, primarily due to the delays between contract award and project commencement in Repairs &amp; Redecoration (–18.6% YoY), Addition&amp;Alteration (-17.5% YoY) and Coating&amp;Painting (-8.1%) segments.
Following the implementation of cost-saving measures, gross margin improved 2.3 ppt YoY to 18.3% in FY26.


ISOTeam Ltd: Long-Term Prospects Despite Short-Term Headwinds

<ul>
<li>RHB boosts OCBC target price to $33.70 following Fed rate hike.                    </li>
<li>Citi cuts SGX target price and starts 90-day watch for P/E de-rating risks.</li>
<li>RHT Capital sets ISDN Holdings target price at 73 cents.</li>
</ul>


RHB boosts OCBC target price to $33.70 following Fed rate hike.                    
Citi cuts SGX target price and starts 90-day watch for P/E de-rating risks.
RHT Capital sets ISDN Holdings target price at 73 cents.


Singapore Market Roundup (05-Oct-2026): RHB raises OCBC target price to $33.70 after Fed hike.

<ul><li>CGS International starts coverage of All-Link Air &amp; Sea with a 92-cent target.</li><li>DBS lowers target price for UltraGreen.ai to 65 US cents.</li><li>SAC Capital lowers ISOTeam target price to 7.1 cents after FY2026 miss.</li></ul>

CGS International starts coverage of All-Link Air &amp; Sea with a 92-cent target.DBS lowers target price for UltraGreen.ai to 65 US cents.SAC Capital lowers ISOTeam target price to 7.1 cents after FY2026 miss.

Singapore Market Roundup (15-Sep-2026): CGS International sets All-Link Air & Sea target at 92

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.

<ul><li>Institutions were net sellers of Singapore stocks with a S$79 million outflow, reversing prior S$365 million inflow.</li><li>CapitaLand Ascendas REIT raised S$903.5 million through a private placement and preferential offering, attracting diverse investors.</li><li>Geo Energy Resources completed a S$15 million share placement and announced infrastructure project progress with significant EBITDA potential.</li></ul>

Institutions were net sellers of Singapore stocks with a S$79 million outflow, reversing prior S$365 million inflow.CapitaLand Ascendas REIT raised S$903.5 million through a private placement and preferential offering, attracting diverse investors.Geo Energy Resources completed a S$15 million share placement and announced infrastructure project progress with significant EBITDA potential.

Institutions Pull Back as Buybacks & Insider Buying Persists

Singapore

ISOTeam is a leading player in Singapore's building maintenance and estate upgrading industry, offering services such as repairs, redecoration, addition and alteration, and specialist coating and painting. The company also provides green solutions, including renewable energy installation and eco-friendly building solutions. Headquartered in Singapore, ISOTeam was founded in 1998.

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ISOTeam (ISO SP)

Singapore Market Roundup (09-Oct-2026): CGSI is optimistic about Sembcorp.

CGSI is optimistic about Sembcorp. Maybank downgrades Sheng Siong to 'hold' with a lower target price, while DBS maintains a 'buy' rating on Singtel.

Singapore Market Roundup

ISOTeam Ltd: Long-Term Prospects Despite Short-Term Headwinds

FY2026 Results: ISOTeam’s FY26 result shows a softer-than-expected performance. The revenue of FY26 fall by 11.3% YoY to S$105.7 million in...

SAC Capital

Singapore Market Roundup (05-Oct-2026): RHB raises OCBC target price to $33.70 after Fed hike.

RHB raises OCBC target price to $33.70 post-Fed rate hike; Citi lowers SGX target and starts 90-day watch for P/E de-rating; RHT sets ISDN at 73...

Singapore Market Roundup

Singapore Market Roundup (15-Sep-2026): CGS International sets All-Link Air & Sea target at 92

CGS International sets All-Link Air & Sea target at 92 cents; DBS lowers UltraGreen.ai to 65 cents; SAC Capital cuts ISOTeam to 7.1 cents after...

Singapore Market Roundup

Institutions Pull Back as Buybacks & Insider Buying Persists

Institutions were net sellers of Singapore stocks with a S$79 million outflow, reversing prior S$365 million inflow. CapitaLand Ascendas REIT...

Singapore Exchange Ltd (SGX)

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