Broker: Maybank Research Pte Ltd
Date of Report: 6 October 2025
Excerpt from Maybank Research Pte Ltd report.
Report Summary
- Lendlease Global Comm REIT (LREIT) upgraded to BUY with a target price of SGD0.69 due to falling interest rates, resilient retail sales, and improved capital management, leading to lower gearing and higher DPU forecasts.
- AI is increasingly impacting sectors: ChatGPT’s Agentic Commerce may disrupt e-commerce platforms, but key players like Sea Ltd. remain resilient; Singapore banks (DBS, OCBC, UOB) are integrating AI to improve efficiency and reduce cost-to-income ratios.
- Singtel remains fundamentally strong despite Optus outages, supported by revenue diversification and share buybacks.
- Sanli Environmental is poised for growth with a strong project pipeline and potential wins from major infrastructure projects.
- Malaysia’s digital banks are still in early stages, with conventional banks ramping up digital investments; Hong Leong Bank, AMMB, Public Bank, and HLFG are preferred picks.
- Earthquake risk in Malaysia is rising, especially in Sabah, prompting increased demand for seismic design in construction and insurance products.
- Other highlights: UOL, SingLand, and CapitaLand completed a major en bloc deal; First Resources exits West Papua palm oil business; HSBC raises income requirement for new credit cards in Singapore; Singapore’s GDP growth is forecast at 3.2% for the full year.
- Technical trading ideas: Nanofilm Technologies and Moneymax Financial Services are identified as trading buys based on positive technical indicators.
Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank Research website: https://www.maybank.com
