Report Summary

• Singapore’s FSSTI Index showed robust YTD performance (+16.6%), with global indices also posting strong gains. Commodities displayed mixed trends, with gold surging and crude oil declining.
• Suntec REIT delivered a 13.4% YoY increase in distributable income for 3Q25, driven by strong Singapore operations, lower financing costs, and tax reversals in Australia. Stable outlook remains amid fair valuations and decent yield.
• OUE REIT saw a slight YoY decline in revenue and NPI due to a Shanghai divestment, but Singapore assets performed well with positive rental reversions and high occupancy. The REIT is now Singapore-focused, with possible expansion into Australia and Japan.
• Institutional investors were net sellers during the week, while retail investors were net buyers, especially in financials. Fund flow data highlights sectoral trends and investor sentiment in Singapore.
• Macro news covers US dollar trends, EM equity/bond allocation, and China’s shift in coal imports impacting Indonesia. US bond yields and inflation expectations remain stable; investment strategy favors longer duration.
• Dividend schedules for major Singapore companies are listed, and upcoming earnings releases are highlighted for October and November 2025.
• SGX’s watch-list includes several companies, with latest additions noted for compliance and investor awareness.
• Lim & Tan Securities research disclaimer and analyst disclosure are provided at the end of the report.