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.

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>DayOne Data Centers is set to launch a US IPO after experiencing a revenue surge to $512 million.</li>
<li>Tishman Speyer successfully raised $395 million for its Korea Living Fund, supported by a German pension.</li>
<li>Forza Capital sold a retail center in Melbourne for $82 million, while CloudHQ plans a Tokyo data center.</li>
</ul>


DayOne Data Centers is set to launch a US IPO after experiencing a revenue surge to $512 million.
Tishman Speyer successfully raised $395 million for its Korea Living Fund, supported by a German pension.
Forza Capital sold a retail center in Melbourne for $82 million, while CloudHQ plans a Tokyo data center.


Asia Real Estate Tracker (07-Oct-2026): DayOne Data Centers seeks US IPO after revenue triples.

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

<ul>
<li>Consumer distribution has been transformed since 2020 through accelerated concentration of market share. While some has come about through organic growth, the real drivers have been M&amp;A and MBOs. </li>
<li>The result is a realignment of the retail leader board as companies like PPI, Welcia and Trial buy their way to the top, while others, notably Seven &amp; I, shrink.</li>
<li>Here we identify the retail leaders in driving consolidation going forward, and the intensifying pressure on both smaller retailers and the wholesalers that supply them.</li>
</ul>


Consumer distribution has been transformed since 2020 through accelerated concentration of market share. While some has come about through organic growth, the real drivers have been M&amp;A and MBOs. 
The result is a realignment of the retail leader board as companies like PPI, Welcia and Trial buy their way to the top, while others, notably Seven &amp; I, shrink.
Here we identify the retail leaders in driving consolidation going forward, and the intensifying pressure on both smaller retailers and the wholesalers that supply them.


[Japan M&A] Who Owns Who: The Growing Concentration of Power in Japanese Consumer Markets

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

<ul>
<li>Tailwinds are turning to headwinds for the Japanese Trading companies.</li>
<li>Risks rising in the short term due to JPY strength, weakening commodity prices and the upcoming US recession.</li>
<li>Massive outperformance over the last two years, most recently due to multiple expansion</li>
</ul>


Tailwinds are turning to headwinds for the Japanese Trading companies.
Risks rising in the short term due to JPY strength, weakening commodity prices and the upcoming US recession.
Massive outperformance over the last two years, most recently due to multiple expansion


Risks Ahead for Japanese Trading Companies. Marubeni, Mitsui, Sumitomo, Mitsubishi

Equity Bottom-Up

<ul>
<li>Sojitz is Japan’s strategic gateway to a non‑Chinese rare earth supply</li>
<li>Earnings base continues to move away from the resources business and its inherent volatility</li>
<li>The company's discount to its larger peers will narrow as the market appreciates the changes</li>
</ul>


Sojitz is Japan’s strategic gateway to a non‑Chinese rare earth supply
Earnings base continues to move away from the resources business and its inherent volatility
The company's discount to its larger peers will narrow as the market appreciates the changes


Sojitz (2768.T) — Japan’s Rare Earth Play

Japan

Marubeni Corporation is a trading company with business divisions in iron & steel, information technology, utility & infrastructure, energy, food, metals & mineral resources, development & construction, and chemicals.  The Company markets its products globally through a network of sales offices and representative firms.

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Marubeni Corp (8002 JP)

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

Asia Real Estate Tracker (07-Oct-2026): DayOne Data Centers seeks US IPO after revenue triples.

DayOne Data Centers plans a US IPO after revenue tripled to $512M, while Tishman Speyer raised $395M, Forza sold a retail center for $82M, and...

Asia Real Estate Tracker

[Japan M&A] Who Owns Who: The Growing Concentration of Power in Japanese Consumer Markets

Consumer distribution has shifted post-2020, with market concentration driven by M&A and MBOs. We identify the leaders of this consolidation,...

Michael Causton

Risks Ahead for Japanese Trading Companies. Marubeni, Mitsui, Sumitomo, Mitsubishi

The investment thesis is starting to work as the reasoning behind the trade is playing out as the Japanese Yen strengthens.

Rikki Malik

Sojitz (2768.T) — Japan’s Rare Earth Play

Lynas extended its agreement with Sojitz until 2038, agreeing to supply 75% of its heavy rare earths to Sojitz with a $110/kg NdPr price floor....

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

Asia Real Estate Tracker (07-Oct-2026): DayOne Data Centers seeks US IPO after revenue triples.

DayOne Data Centers plans a US IPO after revenue tripled to $512M, while Tishman Speyer raised $395M, Forza sold a retail center for $82M, and...

Asia Real Estate Tracker

[Japan M&A] Who Owns Who: The Growing Concentration of Power in Japanese Consumer Markets

​Consumer distribution has shifted post-2020, with market concentration driven by M&A and MBOs. We identify the leaders of this consolidation,...

Michael Causton

Risks Ahead for Japanese Trading Companies. Marubeni, Mitsui, Sumitomo, Mitsubishi

The investment thesis is starting to work as the reasoning behind the trade is playing out as the Japanese Yen strengthens.

Rikki Malik

Sojitz (2768.T) — Japan’s Rare Earth Play

Lynas extended its agreement with Sojitz until 2038, agreeing to supply 75% of its heavy rare earths to Sojitz with a $110/kg NdPr price floor....

Rikki Malik

Consumer distribution has shifted post-2020, with market concentration driven by M&A and MBOs. We identify the leaders of this consolidation,...