Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>RHB's Yeo raises Food Empire target price to $2.72.                            </li>
<li>UOB Kay Hian maintains 'buy' on Prime US REIT due to low valuation.</li>
<li>RHB's Natarajan ups Suntec REIT target price to $1.48.</li>
</ul>


RHB's Yeo raises Food Empire target price to $2.72.                            
UOB Kay Hian maintains 'buy' on Prime US REIT due to low valuation.
RHB's Natarajan ups Suntec REIT target price to $1.48.


Singapore Market Roundup (10-Sep-2025): RHB's Yeo raises Food Empire target to $2.72

<ul>
<li>UOB Kay Hian's Koh maintains 'buy' on Prime US REIT due to low valuation.</li>
<li>RHB's Natarajan increases Suntec REIT target price to $1.48.</li>
<li>CGSI boosts Yangzijiang Financial target price to $1.25, citing Maritime spin-off.</li>
</ul>


UOB Kay Hian's Koh maintains 'buy' on Prime US REIT due to low valuation.
RHB's Natarajan increases Suntec REIT target price to $1.48.
CGSI boosts Yangzijiang Financial target price to $1.25, citing Maritime spin-off.


Singapore Market Roundup (09-Sep-2025): UOB's Koh Keeps 'buy' on Prime US REIT

Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

Hyphens Pharma International / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hyphens-pharma-international" target="_blank" data-smartkarma-citation="entities:28034:1" rel="noopener">Hyphens Pharma International (HYP SP)</a> is a specialty pharmaceutical and consumer healthcare group. It has three key operating segments: Pharmaceutical and Medical Aesthetics, Proprietary Brands and Digital Platform and E-Pharmacy.</li>
<li>It has a direct presence in five ASEAN countries, including Singapore, Indonesia, Malaysia, the Philippines and Vietnam.</li>
<li>We remain NEUTRAL on Hyphens with a TP of S$0.375, pegged to 10x FY26E P/E, representing an upside of approximately 10.3%. </li>
</ul>



Hyphens Pharma International (HYP SP) is a specialty pharmaceutical and consumer healthcare group. It has three key operating segments: Pharmaceutical and Medical Aesthetics, Proprietary Brands and Digital Platform and E-Pharmacy.
It has a direct presence in five ASEAN countries, including Singapore, Indonesia, Malaysia, the Philippines and Vietnam.
We remain NEUTRAL on Hyphens with a TP of S$0.375, pegged to 10x FY26E P/E, representing an upside of approximately 10.3%. 


Hyphens Pharma - 1H25 Earnings Update - Near Term Performance Likely Subdued Before Modest Recovery

<ul>
<li>
<a href="https://www.smartkarma.com/entities/isoteam-ltd" target="_blank" data-smartkarma-citation="entities:6201:1" rel="noopener">Isoteam Ltd (ISO SP)</a> is a SGX-Catalist listed company with a focus on Singapore’s building maintenance and estate upgrading industry, providing solutions across the entire lifecycle of buildings and infrastructure.</li>
<li>Since inception, the firm has completed over 900 projects on more than 7,500 buildings. Its projects are mainly based in Singapore, with approximately 70% derived from public sector contracts.</li>
<li>ISOTeam reported their FY25 results on 27th Aug 2025. In this note, we talk about the updates.</li>
</ul>



Isoteam Ltd (ISO SP) is a SGX-Catalist listed company with a focus on Singapore’s building maintenance and estate upgrading industry, providing solutions across the entire lifecycle of buildings and infrastructure.
Since inception, the firm has completed over 900 projects on more than 7,500 buildings. Its projects are mainly based in Singapore, with approximately 70% derived from public sector contracts.
ISOTeam reported their FY25 results on 27th Aug 2025. In this note, we talk about the updates.


ISOTeam - FY25 Earnings Update - FY25 Results Underscore Execution Risks Despite Large Order Book

Goodwill Entertainment Holding / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/goodwill-entertainment-holding-pte-ltd" target="_blank" data-smartkarma-citation="entities:44296:1" rel="noopener">Goodwill Entertainment Holding (GWEH SP)</a> is a multi-entertainment concept operator, comprising a network of family friendly karaoke facilities with F&amp;B concepts, performance halls and dance clubs.</li>
<li>It operates under the brand names HaveFun Family Karaoke, FATEbyhavefun and HaveFun Live Show.</li>
<li>We maintain our BUY rating on GEH with a TP of S$0.22, pegged to 10.7x FY27E P/E, representing an upside of approximately 29.4%.</li>
</ul>



Goodwill Entertainment Holding (GWEH SP) is a multi-entertainment concept operator, comprising a network of family friendly karaoke facilities with F&amp;B concepts, performance halls and dance clubs.
It operates under the brand names HaveFun Family Karaoke, FATEbyhavefun and HaveFun Live Show.
We maintain our BUY rating on GEH with a TP of S$0.22, pegged to 10.7x FY27E P/E, representing an upside of approximately 29.4%.


Goodwill Entertainment Holding - 1H25 Earnings Update - Execution of Growth Initiatives Underway

Singapore

UOB-Kay Hian Holdings Limited is an investment holding company whose subsidiaries provide management services.  The Company provides stock broking, futures broking, investment trading, nominee services, margin financing, and research activities.

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UOB Kay Hian Holdings (UOBK SP)

Singapore Market Roundup (10-Sep-2025): RHB's Yeo raises Food Empire target to $2.72

RHB's Yeo raises Food Empire target to $2.72; UOB Kay Hian keeps 'buy' on Prime US REIT; Natarajan increases Suntec REIT target to $1.48.

Singapore Market Roundup

Singapore Market Roundup (09-Sep-2025): UOB's Koh Keeps 'buy' on Prime US REIT

UOB Kay Hian's Koh keeps 'buy' on Prime US REIT for low valuation; RHB raises Suntec REIT target to $1.48; CGSI ups Yangzijiang Financial to $1.25.

Singapore Market Roundup

Hyphens Pharma - 1H25 Earnings Update - Near Term Performance Likely Subdued Before Modest Recovery

We remain NEUTRAL on Hyphens with a TP of S$0.375, pegged to 10x FY26E P/E, representing an upside of approximately 10.3%.

Evolve Capital Advisory Pte Ltd

ISOTeam - FY25 Earnings Update - FY25 Results Underscore Execution Risks Despite Large Order Book

Isoteam focuses on Singapore’s building maintenance and estate upgrading industry. They reported their FY25 results on 27th Aug 2025. In this note,...

Evolve Capital Advisory Pte Ltd

Goodwill Entertainment Holding - 1H25 Earnings Update - Execution of Growth Initiatives Underway

We maintain our BUY rating on GEH with a TP of S$0.22, pegged to 10.7x FY27E P/E, representing an upside of approximately 29.4%.

Evolve Capital Advisory Pte Ltd

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