Broker Name: Maybank Research Pte Ltd
Date of Report: October 17, 2025

Excerpt from Maybank Research Pte Ltd report.

Report Summary:
• CSE Global is expected to secure large new orders, especially in the data centre segment, and is poised for multi-year growth, with management expecting stronger performance in the second half of 2025.
• The company’s gross and net margins have improved, order sizes are increasing, and capacity is set to triple by 2027/28; CSE offers an attractive dividend yield and is trading at a discount to peers, with strong prospects in energy, public infrastructure, and US data centre markets.

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 website: https://www.maybank.com/investment-banking