Report Summary

• Maybank upgrades Lendlease Global Commercial REIT (LREIT) to BUY, citing falling interest rates, resilient Singapore retail sales, and improved capital management as key tailwinds. Target price raised to SGD0.69.
• AI is increasingly impacting sectors such as e-commerce (e.g., ChatGPT’s Agentic Commerce) and banking, improving efficiency and supporting ROE growth. DBS is highlighted for tech leadership.
• Malaysia’s digital banking sector remains nascent, while conventional banks step up digital investments. Hong Leong Bank, AMMB, Public Bank, and HLFG are preferred picks.
• Singtel fundamentals remain robust despite Optus outages, supported by revenue diversification and share buybacks.
• Sanli Environmental’s growth prospects are strong, with major tender wins expected and participation in large-scale infrastructure projects.
• Technical trading ideas: Nanofilm and Moneymax are flagged as trading buys.
• Other notable news includes UOL, SingLand, and CapitaLand’s completion of a major property deal, First Resources’ strategic exit from West Papua palm oil, and HSBC raising credit card income criteria in Singapore.
• Singapore banks (DBS, OCBC, UOB) are leveraging AI to improve efficiency, reduce costs, and upskill staff, potentially peaking cost-to-income ratios.
• Malaysia’s banking sector shows stable loan growth and resilient asset quality; Indonesia property market supported by VAT discounts; Wilmar downgraded to HOLD due to regulatory overhang in Indonesia.