Broker Name: Lim & Tan Securities
Date of Report: 3 October 2025
Excerpt from Lim & Tan Securities report.
Report Summary:
- US semiconductor equipment makers, including Applied Materials, face expanded export restrictions to China, which is expected to reduce Applied Materials’ FY 2026 revenue by US\$600 million. This has negatively impacted sector share prices and may also pressure key supplier UMS Holdings, listed in Singapore.
- In Singapore real estate, the S\$810 million en bloc sale of Thomson View condominium was completed after court proceedings, with UOL, SingLand, and CapitaLand Development planning a major redevelopment. Lim & Tan Securities maintains a positive outlook and BUY rating on UOL, citing its monetization strategy and lower interest rates.
- China’s gig workers, such as food delivery drivers, are vulnerable to extreme heat without adequate compensation, exacerbating social and economic inequality amid record-breaking temperatures.
- US manufacturing remains sluggish per recent Fed surveys, supporting long duration positioning outside the US. Inflation pressures are limited and supply chain disruptions have eased.
- Recent share transactions in Singapore include significant insider activity and share buybacks among major listed companies. Institutional investors were net sellers while retail investors were net buyers in the week of 22 September 2025.
- Dividend and distribution dates for multiple Singapore-listed companies are outlined for the upcoming months, alongside a watch-list of SGX-listed companies under regulatory review.
Above is an excerpt from a report by Lim & Tan Securities. Clients of Lim & Tan Securities can be the first to access the full report from the Lim & Tan Securities website: https://www.limtan.com.sg
