Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

HI Mobility (HI MK): Singapore Fares, Malaysian Costs, and a Long Runway Ahead

SBS Transit (SBUS SP): FY25 / 4Q25 Results Review

Equity Bottom-Up

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<li>SBS Transit is a mature, stable public transport operator in Singapore, serving as a key benchmark in the regional transport sector due to its established operations and comprehensive network.  </li>
<li>Despite operating in a saturated market, SBS Transit maintains a robust financial profile, characterized by stable earnings and a superior cash conversion cycle due to its advance payment model. </li>
<li>BUY with TP of SGD3.90 (6% FY26 dividend yield), SBS Transit offers investors a reliable income stream and stability, supported by its role in Singapore's highly urbanized transport system.</li>
</ul>


SBS Transit is a mature, stable public transport operator in Singapore, serving as a key benchmark in the regional transport sector due to its established operations and comprehensive network.  
Despite operating in a saturated market, SBS Transit maintains a robust financial profile, characterized by stable earnings and a superior cash conversion cycle due to its advance payment model. 
BUY with TP of SGD3.90 (6% FY26 dividend yield), SBS Transit offers investors a reliable income stream and stability, supported by its role in Singapore's highly urbanized transport system.


SBS Transit (SBUS SP | BUY | TP:S$3.92): Bussing for Dividends