Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>CGSI raises Food Empire target price to $4, expecting more growth.</li><li>OCBC upgrades and CGSI stays bullish on SIA Engineering after 9MFY2026 update.</li><li>UOBKH initiates 'buy' on Huationg Global with a target price of $1.15.</li></ul>

CGSI raises Food Empire target price to $4, expecting more growth.OCBC upgrades and CGSI stays bullish on SIA Engineering after 9MFY2026 update.UOBKH initiates 'buy' on Huationg Global with a target price of $1.15.

Singapore Market Roundup (20-Feb-2026): CGSI raises Food Empire target to $4 for expected growth.

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

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%


Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

<ul>
<li>Next 50 Indices offers broader and faster-growing sector exposure to Industrials than the STI, with twice the number of industrial constituents and stronger revenue momentum</li>
<li>Industrials within the Next50 Indices were observed to have healthier balance sheets with more attractive valuations and higher dividend yields versus large-cap STI peers</li>
<li>For investors seeking greater industrial growth optionality in Singapore, the Next 50 presents a differentiated and compelling opportunity set.</li>
</ul>


Next 50 Indices offers broader and faster-growing sector exposure to Industrials than the STI, with twice the number of industrial constituents and stronger revenue momentum
Industrials within the Next50 Indices were observed to have healthier balance sheets with more attractive valuations and higher dividend yields versus large-cap STI peers
For investors seeking greater industrial growth optionality in Singapore, the Next 50 presents a differentiated and compelling opportunity set.


Singapore Industrials Beyond the STI: A Differentiated Opportunity in the Next 50 Index

<ul>
<li>DBS initiates coverage of NTT DC REIT as 'buy' with a 20% target rise.</li>
<li>OCBC lowers First REIT's fair value due to ongoing FX impact.           </li>
<li>AIMS APAC REIT reports 1.1% increase in DPU for 1HFY2026.</li>
</ul>


DBS initiates coverage of NTT DC REIT as 'buy' with a 20% target rise.
OCBC lowers First REIT's fair value due to ongoing FX impact.           
AIMS APAC REIT reports 1.1% increase in DPU for 1HFY2026.


Singapore Market Roundup (05-Nov-2025): DBS rates NTT DC REIT 'buy' with a 20% target increase.

Singapore

SIA Engineering Company provides aircraft maintenance, repair, and overhaul (MRO) services, encompassing airframe, line, cabin, fleet management, components, and engines. It is a major MRO provider in the Asia-Pacific region, offering comprehensive solutions to international airlines and aerospace companies. The company is headquartered in Singapore and was incorporated in 1982.

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SIA Engineering Company (SIE SP)

Singapore Market Roundup (20-Feb-2026): CGSI raises Food Empire target to $4 for expected growth.

CGSI raises Food Empire target to $4, OCBC upgrades SIA Engineering, and UOBKH initiates 'buy' on Huationg Global with a target of $1.15.

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

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

Singapore Industrials Beyond the STI: A Differentiated Opportunity in the Next 50 Index

Next 50 Indices provide more diverse and faster-growing industrial sector exposure in Singapore compared to STI, with stronger revenue momentum,...

GSBR Research

Singapore Market Roundup (05-Nov-2025): DBS rates NTT DC REIT 'buy' with a 20% target increase.

DBS rates NTT DC REIT as 'buy' with a 20% target rise; OCBC cuts First REIT's fair value; AIMS APAC REIT sees 1.1% DPU growth in 1HFY2026.

Singapore Market Roundup

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Singapore Market Roundup (20-Feb-2026): CGSI raises Food Empire target to $4 for expected growth.

CGSI raises Food Empire target to $4, OCBC upgrades SIA Engineering, and UOBKH initiates 'buy' on Huationg Global with a target of $1.15.

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

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

Singapore Industrials Beyond the STI: A Differentiated Opportunity in the Next 50 Index

​Next 50 Indices provide more diverse and faster-growing industrial sector exposure in Singapore compared to STI, with stronger revenue momentum,...

GSBR Research

Singapore Market Roundup (05-Nov-2025): DBS rates NTT DC REIT 'buy' with a 20% target increase.

DBS rates NTT DC REIT as 'buy' with a 20% target rise; OCBC cuts First REIT's fair value; AIMS APAC REIT sees 1.1% DPU growth in 1HFY2026.

Singapore Market Roundup

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

Next 50 Indices provide more diverse and faster-growing industrial sector exposure in Singapore compared to STI, with stronger revenue momentum,...