Daily Brief Singapore: Lincotrade & Associates Holdings, Frencken, Mapletree Pan Asia Commercial Trust and more

In today’s briefing:

Lincotrade & Associates Holdings Limited – Enhanced Revenue Visibility with Record Order Book
Stake Additions by Q&M Dental, Frencken, Zhongmin Baihui Retail, and Accrelist directors
REIT Watch – S-REITs set for best year since 2019 with 14.7% total returns in 2025 YTD

Lincotrade & Associates Holdings Limited – Enhanced Revenue Visibility with Record Order Book

Lincotrade & Associates Holdings Limited is a Singapore-based interior fitting-out specialist with over 30 years of experience and an established track record in commercial, residential premises as well as showflats and sales galleries.
Lincotrade is engaged in the provision of interior fitting-out services, additions and alterations (“A&A”) works and other building construction services.
Catering to its current operational requirements and future needs, the Company has acquired a larger JTC facility in Tuas with approval to build a 204-bed ancillary workers dormitory.

Institutions were net sellers of Singapore stocks from Nov 28 to Dec 4, with a net outflow of S$78 million.
Singtel led share buybacks with 9,072,500 shares repurchased for S$61.2 million, under the Singtel Performance Share Plan 2012.
MetaOptics plans to raise S$4.85 million through a placement of 6.69 million shares at S$0.7255 each.

S-REITs have benefited from stable operating performance, lower borrowing costs, and supportive interest rate cuts in 2025.
Analysts report improved S-REITs performance due to falling interest rates, enhancing distributable income and capital market conditions.
Fitch Ratings expects S-REITs to increase capex by 20-25% in 2025, focusing on asset quality improvements.

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