Broker Name: Lim & Tan Securities
Date of Report: 18 November 2025
Excerpt from Lim & Tan Securities report.
- The FSSTI Index showed resilience, closing at 4,543.6 with a year-to-date gain of 20%, outperforming several major global indices.
- Frencken Group posted solid results for 3Q25 and 9M25, with revenue up 6.5% and 12.5% year-on-year, driven by its Mechatronics Division, and maintained a healthy net cash position and asset base. The broker recommends “Accumulate on weakness” for Frencken, noting a 20% potential upside from consensus target price.
- City Developments Limited (CDL) delivered a resilient Q3 2025 performance, with strong development pipeline, stable investment property occupancy, and robust liquidity, though hotel operations in Asia were softer. CDL is rated as a “HOLD” given recent share price gains; consensus target price shows 16.4% upside.
- Starbucks announced a major strategic shift in China, selling a controlling stake to Boyu Capital to regain market share amid fierce competition from Luckin and Cotti.
- Commodity strategists recommend gold and silver, citing macro tailwinds like lower real rates and rising demand for portfolio hedges, while cautioning on platinum and palladium.
- Institutional investors were net buyers in Singapore equities in the week of 10 Nov 2025, while retail investors were net sellers. Top institutional buys included OCBC, Singtel, and Genting Singapore.
- Upcoming dividend and distribution dates for major Singapore-listed companies are highlighted, including DBS, Singtel, SATS, ST Engineering, and others.
- The report provides sectoral fund flow data and calendar highlights for the upcoming period.
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: https://www.limtan.com.sg
