External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

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External broker reports(aggregated public sources)

KGI Securities Singapore

We are a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. 

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>Company Update: 10 April 2026 Strong top line growth and improved portfolio utilisation in FY25.The Assembly Place (TAP) reported FY25 revenue of S$27.0mn (+42.4% YoY) and net profit of S$6.6mn (+6.4% YoY), while adjusted NPAT rose 24.2% YoY to S$7.7mn after excluding S$1.1mn of non-recurring IPO expenses.</li><li>The Group ended FY25 with 3,422 keys across 100 property assets, while average occupancy improved to 94.4% from 91.0% in FY24, reinforcing the resilience of its core community living platform and the scalability of its asset light operating model.</li><li>In Mar 26, TAP entered the migrant worker accommodation segment via a 60:40 JV with S11, adding 886 beds under the new Habitat brand.</li></ul>

Company Update: 10 April 2026 Strong top line growth and improved portfolio utilisation in FY25.The Assembly Place (TAP) reported FY25 revenue of S$27.0mn (+42.4% YoY) and net profit of S$6.6mn (+6.4% YoY), while adjusted NPAT rose 24.2% YoY to S$7.7mn after excluding S$1.1mn of non-recurring IPO expenses.The Group ended FY25 with 3,422 keys across 100 property assets, while average occupancy improved to 94.4% from 91.0% in FY24, reinforcing the resilience of its core community living platform and the scalability of its asset light operating model.In Mar 26, TAP entered the migrant worker accommodation segment via a 60:40 JV with S11, adding 886 beds under the new Habitat brand.

Company Report: The Assembly Place Holdings Ltd. (ASSPH SP/TAP.SI)