Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<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>CGSI has initiated coverage on Pacific Radiance and Marco Polo Marine, identifying them as beneficiaries of O&amp;M industry.</li>
<li>Brokers' Digest provides latest updates on Bumitama Agri, Oiltek, ST Engineering, SGX, Suntec REIT, Kimly, SingPost, PropNex, Raffles Medical.</li>
<li>Panin Bank acquisition might not have significant impact on OCBC and DBS due to uncertainties, according to RHB. XMH Holdings' 1HFY2025 earnings surge by 94.5% to $12.6 million. Accrelist exec chairman increases stake to 26.48%, while Tuan Sing CEO Liem raises ownership to 54.28%.</li>
</ul>


CGSI has initiated coverage on Pacific Radiance and Marco Polo Marine, identifying them as beneficiaries of O&amp;M industry.
Brokers' Digest provides latest updates on Bumitama Agri, Oiltek, ST Engineering, SGX, Suntec REIT, Kimly, SingPost, PropNex, Raffles Medical.
Panin Bank acquisition might not have significant impact on OCBC and DBS due to uncertainties, according to RHB. XMH Holdings' 1HFY2025 earnings surge by 94.5% to $12.6 million. Accrelist exec chairman increases stake to 26.48%, while Tuan Sing CEO Liem raises ownership to 54.28%.


Singapore Market Roundup (13-Dec-2024): CGSI Covers Pacific Radiance & Marco Polo Marine

External broker reports(aggregated public sources), UOB Kay Hian

UOB Kay Hian

External broker reports(aggregated public sources)

Backed by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, we are supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. Our global footprint and strong international presence have enabled us to feel the pulse of key financial markets and deliver incisive intelligence across industry sectors and asset classes. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>2022 profit margins expanded due to strong performance from the Healthcare Services segment; Raffles Medical is facing a global shortage of healthcare workers; increased contributions are expected as China operations pick up steam.</li><li>With tailwinds and Raffles Medical's share price currently trading at attractive valuations, we maintain BUY rating on Raffles Medical with target price S$1.90.</li><li>Despite tapering COVID-19-related activities, Raffles Medical noted that the increase in 2022 profit margin for the Healthcare Services segment was led by better operating leverage due to higher volume of operations in 2022. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

2022 profit margins expanded due to strong performance from the Healthcare Services segment; Raffles Medical is facing a global shortage of healthcare workers; increased contributions are expected as China operations pick up steam.With tailwinds and Raffles Medical's share price currently trading at attractive valuations, we maintain BUY rating on Raffles Medical with target price S$1.90.Despite tapering COVID-19-related activities, Raffles Medical noted that the increase in 2022 profit margin for the Healthcare Services segment was led by better operating leverage due to higher volume of operations in 2022. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Raffles Medical Group - Attractive Valuation Arising From Recent Share Price Weakness

External broker reports(aggregated public sources), RHB Invest

RHB Invest

RHB Investment Bank is one of the leading capital market players in Malaysia. Supported by an award-winning research team of experienced product specialists, RHB Group Investment Banking offers a full range of investment banking products and services covering primary markets, such as advisory (corporate & debt restructuring, mergers and acquisitions, takeovers), fundraising via both equity and debt instruments, and secondary markets including securities trading for both institutional and retail clients. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Raffles Medical's share price has corrected by 10% in the last one month.</li><li>With no change in its fundamental outlook and our investment thesis, we see this as an opportunity to accumulate the stock.</li><li>Reiterate BUY and S$1.75 target price, 33% upside and ~3% yield</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Raffles Medical's share price has corrected by 10% in the last one month.With no change in its fundamental outlook and our investment thesis, we see this as an opportunity to accumulate the stock.Reiterate BUY and S$1.75 target price, 33% upside and ~3% yieldContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Raffles Medical Group - Recent Correction Offers Opportunity To BUY

Singapore

Raffles Medical Group Limited is a health care provider.  The Company operates medical clinics, imaging centers, and medical laboratories.  Raffles provides general and specialized medical, medical evacuation, medical advisory, and dental treatment services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Raffles Medical Group (RFMD SP)

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 (13-Dec-2024): CGSI Covers Pacific Radiance & Marco Polo Marine

CGSI initiates coverage on Pacific Radiance and Marco Polo Marine as beneficiaries of O&M, add calls; Bumitama Agri, Oiltek, ST Engineering, SGX,...

Singapore Market Roundup

Raffles Medical Group - Recent Correction Offers Opportunity To BUY

With no change in its fundamental outlook and our investment thesis, we see this as an opportunity to accumulate the stock. Reiterate BUY and...

RHB Invest

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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 (13-Dec-2024): CGSI Covers Pacific Radiance & Marco Polo Marine

CGSI initiates coverage on Pacific Radiance and Marco Polo Marine as beneficiaries of O&M, add calls; Bumitama Agri, Oiltek, ST Engineering, SGX,...

Singapore Market Roundup

Raffles Medical Group - Attractive Valuation Arising From Recent Share Price Weakness

With tailwinds and Raffles Medical's share price currently trading at attractive valuations, we maintain BUY rating on Raffles Medical with target...

UOB Kay Hian

Raffles Medical Group - Recent Correction Offers Opportunity To BUY

With no change in its fundamental outlook and our investment thesis, we see this as an opportunity to accumulate the stock. Reiterate BUY and...

RHB Invest