Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>UOB Kay Hian downgrades DBS to 'hold' and keeps 'buy' rating on OCBC.</li><li>UOBKH's Tang cuts Huationg's target price to 88 cents due to rising fuel costs.</li><li>RHB's Yeo keeps Nam Cheong rating at 'buy' with a $2.05 target price.</li></ul>

UOB Kay Hian downgrades DBS to 'hold' and keeps 'buy' rating on OCBC.UOBKH's Tang cuts Huationg's target price to 88 cents due to rising fuel costs.RHB's Yeo keeps Nam Cheong rating at 'buy' with a $2.05 target price.

Singapore Market Roundup (26-Aug-2026): UOB Kay Hian downgrades DBS to 'hold', maintains 'buy' on

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

Equity Bottom-Up

<ul>
<li>We like Suntec REIT as we think Singapore office and retail market will see a strong recovery in 2026</li>
<li>Singapore’s steep rate decline (3M SORA from &gt;3% in January 2025 to now 1.186%) will benefit REITs directly</li>
<li>Suntec REIT recorded a 12.5% DPU increase in 3Q 2025.  We like its growth profile and sound capital management, that will increase return to unit-holders</li>
</ul>


We like Suntec REIT as we think Singapore office and retail market will see a strong recovery in 2026
Singapore’s steep rate decline (3M SORA from &gt;3% in January 2025 to now 1.186%) will benefit REITs directly
Suntec REIT recorded a 12.5% DPU increase in 3Q 2025.  We like its growth profile and sound capital management, that will increase return to unit-holders


Long Suntec REIT: Capitalizing on the 2026 Commercial Revaluation and Interest Rate Pivot

Investment Management, 8VantEdge

8VantEdge

Investment Management

8VantEdge offers a hybrid fundamental stock picking combined with algorithmic rules based on human psychology.

<ul><li>Singapore's core city belt has evolved into a single continuous live-work-play corridor, functioning as one integrated asset base rather than a set of separately planned districts.</li><li>Three converging forces are driving this transition: (1) constrained Grade A office supply in Marina Bay and the wider CBD; (2) improving transport and pedestrian connections across Marina Bay, Marina Centre, Beach Road and Bugis; and (3) the continued development of Bugis as a mixed-use arts, cultural and educational district.</li><li>Together, these trends support viewing the corridor as a single investment ecosystem, where the value of individual assets is increasingly influenced by the strength of the surrounding precinct.</li></ul>

Singapore's core city belt has evolved into a single continuous live-work-play corridor, functioning as one integrated asset base rather than a set of separately planned districts.Three converging forces are driving this transition: (1) constrained Grade A office supply in Marina Bay and the wider CBD; (2) improving transport and pedestrian connections across Marina Bay, Marina Centre, Beach Road and Bugis; and (3) the continued development of Bugis as a mixed-use arts, cultural and educational district.Together, these trends support viewing the corridor as a single investment ecosystem, where the value of individual assets is increasingly influenced by the strength of the surrounding precinct.

Marina Bay & Bugis Reimagined: Unlocking Value Across Singapore’s Core City Belt

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>In 3Q25, Singapore office REITs like CICT, MPACT, and Suntec REIT reported strong occupancy and positive rental reversions.</li><li>CICT's office portfolio occupancy rose to 96.2%, with a 1.9% rent increase, and full ownership of CapitaSpring.</li><li>Keppel REIT achieved a 12.0% rental reversion, maintaining 96.3% occupancy, with a WALE of 4.7 years.</li></ul>

In 3Q25, Singapore office REITs like CICT, MPACT, and Suntec REIT reported strong occupancy and positive rental reversions.CICT's office portfolio occupancy rose to 96.2%, with a 1.9% rent increase, and full ownership of CapitaSpring.Keppel REIT achieved a 12.0% rental reversion, maintaining 96.3% occupancy, with a WALE of 4.7 years.

REIT Watch - Positive momentum for Office S-REITs as vacancy rates ease and rents climb

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>Igis has made a significant investment by acquiring Doosan Tower in Seoul for $612 million.</li>
<li>BGO has teamed up with Investa and Cliffbrook to purchase Dexus Australian offices for $505.5 million.</li>
<li>Singapore's CBD office rents are expected to rise by up to 5% by 2026 due to ongoing supply constraints.</li>
</ul>


Igis has made a significant investment by acquiring Doosan Tower in Seoul for $612 million.
BGO has teamed up with Investa and Cliffbrook to purchase Dexus Australian offices for $505.5 million.
Singapore's CBD office rents are expected to rise by up to 5% by 2026 due to ongoing supply constraints.


Asia Real Estate Tracker (28-Jul-2026): Igis closes $612M deal for Seoul's Doosan Tower.

Singapore

Suntec Real Estate Investment Trust invests in income-producing real estate primarily used for office and retail purposes. Its portfolio includes prime commercial properties in Singapore, Australia, and the United Kingdom. The company is headquartered in Singapore and was founded in 2004.

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Suntec (SUN SP)

Singapore Market Roundup (26-Aug-2026): UOB Kay Hian downgrades DBS to 'hold', maintains 'buy' on

UOB Kay Hian downgrades DBS to 'hold', maintains 'buy' on OCBC. Huationg's target price cut to 88 cents; Nam Cheong remains 'buy' at $2.05 target.

Singapore Market Roundup

Long Suntec REIT: Capitalizing on the 2026 Commercial Revaluation and Interest Rate Pivot

We like Suntec REIT on the back of 1) Singapore's steep rate decline 2) recovery in Singapore's office and retail and 3) Suntec REIT's sound...

Jacob Cheng

Marina Bay & Bugis Reimagined: Unlocking Value Across Singapore’s Core City Belt

Singapore's core city belt has evolved into a single continuous live-work-play corridor, functioning as one integrated asset base rather than a set...

8VantEdge

REIT Watch - Positive momentum for Office S-REITs as vacancy rates ease and rents climb

In 3Q25, Singapore office REITs like CICT, MPACT, and Suntec REIT reported strong occupancy and positive rental reversions. CICT's office...

Singapore Exchange Ltd (SGX)

Asia Real Estate Tracker (28-Jul-2026): Igis closes $612M deal for Seoul's Doosan Tower.

Igis acquired Doosan Tower for $612M, BGO partnered for Dexus offices at $505.5M, and Singapore's CBD rents may rise 5% by 2026 amid ongoing supply...

Asia Real Estate Tracker

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