Broker Name: Lim & Tan Securities
Date of Report: 22 December 2025
Excerpt from Lim & Tan Securities report.
Report Summary
- Global equity markets showed mixed performances, with Singapore’s FSSTI up 1% month-to-date and 20.7% year-to-date, while tech stocks in the US drove gains after news of TikTok’s new US joint venture and Oracle’s involvement.
- Seatrium Limited resolved arbitration with Maersk Offshore Wind, agreeing to deliver a Wind Turbine Installation Vessel by February 2026, with a US\$360 million payment, and maintains a positive outlook with a 35.7% consensus price upside.
- Stoneweg Europe Stapled Trust (SERT) divested a Rome asset at a 32% premium to valuation, boosting logistics exposure; SERT units trade at a 20% discount to NAV, and the manager continues to recycle capital into higher-growth assets.
- China’s “anti-involution” drive had limited impact on industrial profits and deflation; materials firms benefited from higher gold prices while tech and EV sectors face margin pressures and weak earnings outlook for 2026.
- BCA Research highlighted global defensive positioning, with subdued inflation and low growth supporting a long-duration stance in bonds, while US equities may underperform against Europe and Japan as the dollar’s structural outlook turns bearish.
- Institutional investors were net sellers (S\$88.5m) for the week of 1 Dec 2025, while retail investors turned net buyers (S\$92.5m), with notable flows into OCBC, Sembcorp Industries, and Yangzijiang Shipbuilding.
- Numerous dividend and distribution announcements across Singapore-listed companies are scheduled into early 2026.
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
