Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>DBS maintains 'buy' rating for AvePoint on AI governance, US public sector rebound.</li><li>Jardine C&amp;C's car dealership sale could yield $350M; DBS keeps 'buy' at $39 target.</li><li>Capital Group increases Singtel stake, becoming a major shareholder at $4.67 each.</li></ul>

DBS maintains 'buy' rating for AvePoint on AI governance, US public sector rebound.Jardine C&amp;C's car dealership sale could yield $350M; DBS keeps 'buy' at $39 target.Capital Group increases Singtel stake, becoming a major shareholder at $4.67 each.

Singapore Market Roundup (11-May-2026): DBS keeps 'buy' rating for AvePoint amid AI growth.

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>Shinsegae has been chosen as the preferred bidder for a new hotel project in Seoul, indicating its expansion in the hospitality sector.</li><li>Ares Management has raised $1.6 billion for a Japan-focused industrial fund, increasing its total assets under management to $644 billion.</li><li>Hongkong Land has launched a luxury mall in Shanghai as part of an $8 billion commercial development, showcasing growth in retail investments.</li></ul>

Shinsegae has been chosen as the preferred bidder for a new hotel project in Seoul, indicating its expansion in the hospitality sector.Ares Management has raised $1.6 billion for a Japan-focused industrial fund, increasing its total assets under management to $644 billion.Hongkong Land has launched a luxury mall in Shanghai as part of an $8 billion commercial development, showcasing growth in retail investments.

Asia Real Estate Tracker (06-May-2026): Shinsegae wins bid for Seoul hotel and real estate news.

<ul><li>uSmart initiates coverage of Soon Hock Enterprise at 'buy', sees re-rating potential.</li><li>Paragon acquisition boosts CICT's status as Singapore's leading retail landlord.</li><li>Maybank and CGSI remain optimistic on ISOTeam after new contract win.</li></ul>

uSmart initiates coverage of Soon Hock Enterprise at 'buy', sees re-rating potential.Paragon acquisition boosts CICT's status as Singapore's leading retail landlord.Maybank and CGSI remain optimistic on ISOTeam after new contract win.

Singapore Market Roundup (23-Apr-2026): uSmart rates Soon Hock Enterprise as 'buy' with growth

<ul><li>uSmart initiates coverage of Soon Hock at 'buy,' foreseeing re-rating before Skye@Tuas launch.</li><li>Paragon acquisition strengthens CICT's position as Singapore's leading retail landlord.</li><li>Maybank and CGSI remain positive on ISOTeam after recent contract win.</li></ul>

uSmart initiates coverage of Soon Hock at 'buy,' foreseeing re-rating before Skye@Tuas launch.Paragon acquisition strengthens CICT's position as Singapore's leading retail landlord.Maybank and CGSI remain positive on ISOTeam after recent contract win.

Singapore Market Roundup (22-Apr-2026): uSmart rates Soon Hock 'buy' ahead of Skye@Tuas launch.

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Jardine Matheson Southeast Asia / Event-Driven

Jardine Matheson Southeast Asia (JCNC SP)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jardine-matheson-southeast-asia-ltd" target="_blank" data-smartkarma-citation="entities:347:1" rel="noopener">Jardine Matheson Southeast Asia (JCNC SP)</a> (formerly known as Jardine Cycle &amp; Carriage (JCNC SP), popped ~10% today ahead of the <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a> in-specie-distribution and special dividend.</li>
<li>The record date for both is the 9th October, with payment on (or before) 2nd December. </li>
<li>JMSEA's implied stub value is around its highest-ever level. As is the simple ratio of JMSEA/<a href="https://www.smartkarma.com/entities/pt-astra-international-tbk" target="_blank" data-smartkarma-citation="entities:46:1" rel="noopener">Astra International (ASII IJ)</a>. Neither are sustainable. Borrow is (reportedly) non-existent.</li>
</ul>



Jardine Matheson Southeast Asia (JCNC SP) (formerly known as Jardine Cycle &amp; Carriage (JCNC SP), popped ~10% today ahead of the Toyota Motor (7203 JP) in-specie-distribution and special dividend.
The record date for both is the 9th October, with payment on (or before) 2nd December. 
JMSEA's implied stub value is around its highest-ever level. As is the simple ratio of JMSEA/Astra International (ASII IJ). Neither are sustainable. Borrow is (reportedly) non-existent.


Jardine Matheson Southeast Asia (JCNC SP) Pops On Toyota In-Specie & Special Div

Bermuda

Jardine Matheson is a diversified, Asia-focused multinational conglomerate with interests spanning motor vehicles, property investment and development, retail, hotels, engineering, construction, and financial services. It operates through a portfolio of market-leading businesses across Asia. The company was founded in 1832 and is headquartered in Hong Kong.

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Jardine Matheson (JM SP)

Singapore Market Roundup (11-May-2026): DBS keeps 'buy' rating for AvePoint amid AI growth.

DBS maintains 'buy' ratings for AvePoint and Jardine C&C. Capital Group boosts Singtel stake, becoming a major shareholder at $4.67 each.

Singapore Market Roundup

Asia Real Estate Tracker (06-May-2026): Shinsegae wins bid for Seoul hotel and real estate news.

Shinsegae is the preferred bidder for a Seoul hotel, Ares raised $1.6B for a Japan fund, Hongkong Land launched a luxury mall in Shanghai, and...

Asia Real Estate Tracker

Singapore Market Roundup (23-Apr-2026): uSmart rates Soon Hock Enterprise as 'buy' with growth

uSmart rates Soon Hock Enterprise as 'buy' due to re-rating potential; Paragon acquisition enhances CICT's retail leadership; Maybank and CGSI...

Singapore Market Roundup

Singapore Market Roundup (22-Apr-2026): uSmart rates Soon Hock 'buy' ahead of Skye@Tuas launch.

uSmart rates Soon Hock as 'buy' ahead of Skye@Tuas launch. Paragon acquisition boosts CICT's retail leadership, while Maybank and CGSI favor...

Singapore Market Roundup

Jardine Matheson Southeast Asia (JCNC SP) Pops On Toyota In-Specie & Special Div

I get JMSEA's outperformance vs Astra given the weakening rupiah, Indonesia's MSCI overhang; and JMSEA's value unlock strategy. But to what point?...

David Blennerhassett

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