Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>RHB's Yeo lifts Venture Corp target price to $15 after lower Malaysia tariffs.</li><li>UOBKH remains ‘overweight’ on S-REITs, favoring CLAR, CLAS, and LREIT as top picks.</li><li>OCBC's Lim starts coverage of Hong Leong Asia with 'buy' and $3.40 target.</li></ul>

RHB's Yeo lifts Venture Corp target price to $15 after lower Malaysia tariffs.UOBKH remains ‘overweight’ on S-REITs, favoring CLAR, CLAS, and LREIT as top picks.OCBC's Lim starts coverage of Hong Leong Asia with 'buy' and $3.40 target.

Singapore Market Roundup (26-Aug-2025): RHB's Yeo raises Venture Corp target price to $15.

Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>Driven by long-term structural drivers including cloud computing adoption, digital transformation, 5G network rollout, we think Data Centers in Asia can be a generational investment opportunity</li>
<li>Keppel DC REIT and Digital Core REIT are pure plays listed in Singapore. Keppel is Singapore-concentrated, offering stable growth.  DC REIT’s portfolio is global, and backed by Digital Realty</li>
<li>We think interest rate volatility, regulatory framework and data localization policies, as well as market supply have to be taken into consideration when investors are making investment decisions</li>
</ul>


Driven by long-term structural drivers including cloud computing adoption, digital transformation, 5G network rollout, we think Data Centers in Asia can be a generational investment opportunity
Keppel DC REIT and Digital Core REIT are pure plays listed in Singapore. Keppel is Singapore-concentrated, offering stable growth.  DC REIT’s portfolio is global, and backed by Digital Realty
We think interest rate volatility, regulatory framework and data localization policies, as well as market supply have to be taken into consideration when investors are making investment decisions


Asia Data Center REITs: The AI-Driven Generational Investment Opportunity

<ul><li>DBS may need to accelerate expansion into Malaysian market due to urgency of JS-SEZ project, according to CreditSights.</li><li>Singtel is focused on enhancing shareholder value, as confirmed by UOBKH, which also maintains a buy rating for KORE and Prime post office return mandate.</li><li>Venture Corp receives a 'buy' rating from UOB Kay Hian due to promising medium-term growth prospects, while Maybank predicts S-REIT distributions to stabilize by 2H2025 and growth in FY2026.</li></ul>

DBS may need to accelerate expansion into Malaysian market due to urgency of JS-SEZ project, according to CreditSights.Singtel is focused on enhancing shareholder value, as confirmed by UOBKH, which also maintains a buy rating for KORE and Prime post office return mandate.Venture Corp receives a 'buy' rating from UOB Kay Hian due to promising medium-term growth prospects, while Maybank predicts S-REIT distributions to stabilize by 2H2025 and growth in FY2026.

Singapore Market Roundup (21-Jan-2025): DBS must accelerate Malaysia expansion due to JS-SEZ urgency - CreditSights

<ul><li>Maybank forecasts stable S-REIT distributions in the second half of 2025 with growth expected in fiscal year 2026.</li><li>CGSI remains optimistic on Singtel and KDC despite US artificial intelligence restrictions.</li><li>UOBKH anticipates higher dividends from DBS and OCBC in the future. Maybank takes a 'neutral' stance on the Singapore healthcare sector.</li></ul>

Maybank forecasts stable S-REIT distributions in the second half of 2025 with growth expected in fiscal year 2026.CGSI remains optimistic on Singtel and KDC despite US artificial intelligence restrictions.UOBKH anticipates higher dividends from DBS and OCBC in the future. Maybank takes a 'neutral' stance on the Singapore healthcare sector.

Singapore Market Roundup (20-Jan-2025): Maybank: S-REIT distributions stable by 2H2025, grow FY2026+

<ul><li>OCBC Investment Research increases fair value for Keppel DC REIT thanks to improved portfolio diversity and performance.</li><li>DBS sticks with 'buy' recommendation for ComfortDelGro despite higher platform fees, citing CPF contribution costs.</li><li>Both recommendations reflect positive outlook for these companies in light of recent market changes.</li></ul>

OCBC Investment Research increases fair value for Keppel DC REIT thanks to improved portfolio diversity and performance.DBS sticks with 'buy' recommendation for ComfortDelGro despite higher platform fees, citing CPF contribution costs.Both recommendations reflect positive outlook for these companies in light of recent market changes.

Singapore Market Roundup (27-Dec-2024): OCBC raises Keppel DC REIT value.

Singapore

Keppel DC REIT is Asia's first pure-play data centre real estate investment trust, investing in a diversified portfolio of income-producing real estate assets used primarily for data centre purposes and assets supporting the digital economy. Its properties are leased as colocation, fully fitted, and shell and core data centers across Asia and Europe. Headquartered in Singapore, the company was founded in 2014.

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Keppel DC (KDCREIT SP)

Singapore Market Roundup (26-Aug-2025): RHB's Yeo raises Venture Corp target price to $15.

RHB's Yeo raises Venture Corp target to $15; UOBKH favors CLAR, CLAS, and LREIT in S-REITs. OCBC's Lim initiates coverage of Hong Leong Asia with a...

Singapore Market Roundup

Asia Data Center REITs: The AI-Driven Generational Investment Opportunity

The Data Center market will continue to be supported by strong structural drivers. Keppel DC REIT and Digital Core REIT are both pure plays that...

Jacob Cheng

Singapore Market Roundup (21-Jan-2025): DBS must accelerate Malaysia expansion due to JS-SEZ urgency - CreditSights

DBS urged to accelerate expansion into Malaysia as Singtel aims to enhance shareholder value, UOBKH maintains buy ratings for KORE and Prime,...

Singapore Market Roundup

Singapore Market Roundup (20-Jan-2025): Maybank: S-REIT distributions stable by 2H2025, grow FY2026+

Maybank and UOBKH offer insights on S-REITs, Singtel, KDC, DBS, OCBC, and Singapore healthcare sector predicting stable distributions, bullish...

Singapore Market Roundup

Singapore Market Roundup (27-Dec-2024): OCBC raises Keppel DC REIT value.

OCBC raises Keppel DC REIT value, DBS maintains ComfortDelGro buy despite higher fees.

Singapore Market Roundup

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