Lim & Tan Securities, 10 November 2025
Excerpt from Lim & Tan Securities report.
Report Summary
- Singapore Post (SingPost) reported H1 FY25/26 core profit of S\$5.5m, reversing previous losses, despite revenue declining 27.4% YoY due to challenging logistics/eCommerce conditions and major divestments. The Company’s cost discipline and divestment of non-core businesses helped strengthen its financial position.
- Singtel unlocked S\$1.5bn by selling part of its Airtel stake, boosting capital management flexibility. Its ongoing asset recycling program has generated S\$5.6bn to date, supporting dividends and growth. Singtel retains a significant holding in Airtel, and consensus sees limited upside from current share price.
- ASL Marine will join the MSCI Singapore Micro Cap Index. The company secured new ship chartering contracts and vessel sales worth S\$136.3m, supporting its turnaround and balance sheet improvement. ASL Marine is expected to benefit from strong earnings growth and fleet optimization efforts.
- Luxury retail in China is focusing on immersive experiences to drive recovery post-pandemic, with brands like Louis Vuitton and Hermes innovating to attract new high-value customers amid a shift away from rapid expansion.
- US AI infrastructure is rapidly expanding, raising electricity demand and favoring natural gas over renewables due to reliability requirements. China is expected to rely more on coal for its AI/data center power needs.
- Numerous share transactions, buybacks, and dividend announcements are highlighted for various Singapore-listed companies, indicating active capital management and returns to shareholders.
Above is an excerpt from a report by Lim & Tan Securities. Clients of Lim & Tan Securities can be the first to access the full report from the Lim & Tan Securities website : www.limtan.com.sg
