Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>Seatrium faces 'arbitration noise,' yet CGSI and Citi maintain positive outlooks.</li><li>RHB maintains 'buy' on Raffles Medical Group for potential growth in 2HFY2025.</li><li>CGSI sees strong re-rating potential for Info-Tech Systems after its post-IPO drop.</li></ul>

Seatrium faces 'arbitration noise,' yet CGSI and Citi maintain positive outlooks.RHB maintains 'buy' on Raffles Medical Group for potential growth in 2HFY2025.CGSI sees strong re-rating potential for Info-Tech Systems after its post-IPO drop.

Singapore Market Roundup (23-Jan-2026): Seatrium endures 'arbitration noise' but CGSI and Citi

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>CGSI cuts Lum Chang Creations' TP to 72 cents, expecting revenue to load in 2HFY2026.</li><li>JP Morgan raises CDL's target price to $10.75.</li><li>STI could realistically reach 5,000 points, says OCBC's Carmen Lee.</li></ul>

CGSI cuts Lum Chang Creations' TP to 72 cents, expecting revenue to load in 2HFY2026.JP Morgan raises CDL's target price to $10.75.STI could realistically reach 5,000 points, says OCBC's Carmen Lee.

Singapore Market Roundup (07-Jan-2026): CGSI lowers Lum Chang Creations' TP to 72 cents, sees

<ul><li>STI could reach 5,000 points, says OCBC's Carmen Lee.</li><li>CGS International reassesses Raffles Medical Group’s investment outlook for 2HFY2025.</li><li>UOBKH keeps 'buy' on Lendlease Global Commercial REIT, citing PLQ Mall and Jem.</li></ul>

STI could reach 5,000 points, says OCBC's Carmen Lee.CGS International reassesses Raffles Medical Group’s investment outlook for 2HFY2025.UOBKH keeps 'buy' on Lendlease Global Commercial REIT, citing PLQ Mall and Jem.

Singapore Market Roundup (06-Jan-2026): OCBC's Carmen Lee predicts STI may hit 5,000 points.

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR methodology</li>
<li>Portfolio changes: Five stocks remain, nine new join the fray</li>
<li>Since its inception, it has generated a before-fee total return of 295% versus the MSCI ASEAN's  59%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR methodology
Portfolio changes: Five stocks remain, nine new join the fray
Since its inception, it has generated a before-fee total return of 295% versus the MSCI ASEAN's  59%


Singapore

Raffles Medical Group is a leading integrated private healthcare provider in Asia. It operates hospitals and a network of medical and dental clinics, offering a wide range of services including primary, specialist, and tertiary care, as well as health insurance and consumer healthcare products. The company was founded in 1976 and is headquartered in Singapore.

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Raffles Medical Group (RFMD SP)

Singapore Market Roundup (23-Jan-2026): Seatrium endures 'arbitration noise' but CGSI and Citi

Seatrium encounters arbitration issues, but CGSI and Citi remain optimistic. RHB keeps 'buy' on Raffles Medical, while CGSI sees re-rating...

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 (07-Jan-2026): CGSI lowers Lum Chang Creations' TP to 72 cents, sees

CGSI lowers Lum Chang Creations' target price to 72 cents; JP Morgan raises CDL's to $10.75. OCBC's Carmen Lee sees STI potentially reaching 5,000...

Singapore Market Roundup

Singapore Market Roundup (06-Jan-2026): OCBC's Carmen Lee predicts STI may hit 5,000 points.

STI may hit 5,000 points, says OCBC's Carmen Lee. CGS International reevaluates Raffles Medical Group for 2HFY2025. UOBKH maintains 'buy' on...

Singapore Market Roundup

The Stocks to Own in ASEAN – Vol. 53

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR methodology. Portfolio changes: Five stocks remain, nine stocks added.

A. Stotz Investment Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Singapore Market Roundup (23-Jan-2026): Seatrium endures 'arbitration noise' but CGSI and Citi

Seatrium encounters arbitration issues, but CGSI and Citi remain optimistic. RHB keeps 'buy' on Raffles Medical, while CGSI sees re-rating...

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 (07-Jan-2026): CGSI lowers Lum Chang Creations' TP to 72 cents, sees

CGSI lowers Lum Chang Creations' target price to 72 cents; JP Morgan raises CDL's to $10.75. OCBC's Carmen Lee sees STI potentially reaching 5,000...

Singapore Market Roundup

Singapore Market Roundup (06-Jan-2026): OCBC's Carmen Lee predicts STI may hit 5,000 points.

STI may hit 5,000 points, says OCBC's Carmen Lee. CGS International reevaluates Raffles Medical Group for 2HFY2025. UOBKH maintains 'buy' on...

Singapore Market Roundup

The Stocks to Own in ASEAN – Vol. 53

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR methodology. Portfolio changes: Five stocks remain, nine stocks added.

A. Stotz Investment Research

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