Broker Name: DBS
Date of Report: 07 Oct 2025
Excerpt from DBS report.

• Report Summary
• DBS maintains a positive outlook for the Singapore market ahead of a potential year-end rally, driven by MAS market support, strong dividend yields, and seasonal trends.
• Small-mid cap stocks are highlighted as key beneficiaries in Q4 due to new EQDP initiatives, enhanced GEMS scheme, and a forthcoming “Value Unlock” package. Stocks such as SIA Eng, IFAST, UMS, Frencken, ComfortDelGro, NetLink, Nam Cheong, Valuetronics, Haw Par, F&N, UOL, Singapore Land, and CityDev are noted as potential winners.
• The new Fullerton Singapore Value-Up Fund, the first under the EQDP, will invest in 20-40 Singapore-listed stocks, further supporting liquidity and visibility for SMCs.
• Technology and industrial sectors remain favored, with top picks including UMS, Frencken, SIA Eng, SATS, Yangzijiang, and Seatrium. SREITs are recommended on pullbacks.
• Positive developments in US-China relations could further catalyze the market rally.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com/insightsdirect