Broker Name: Lim & Tan Securities
Date of Report: 30 December 2025
Excerpt from Lim & Tan Securities report.
Report Summary
- The US and major Asian stock markets saw mixed performance, with tech stocks leading declines in the US, while Singapore’s FSSTI remained relatively stable.
- CapitaLand Ascendas REIT (CLAR) completed the acquisition of 5 Science Park Drive and entered a sharing agreement for integrated car park operations in the Geneo life sciences hub, aiming for operational efficiency and enhanced tenant experience.
- CLAR maintains a strong balance sheet, with a market cap of S\$13 billion, trading at 18.7x forward PE and offering a 5.2% dividend yield. Target price consensus signals 16% upside; rating is “Accumulate on Weakness” due to valuation considerations.
- Infinity Development Holdings reported 13.4% revenue growth and 21.7% increase in net profit, backed by strong Asia-Pacific footwear demand. The group has zero debt, a net cash position representing 39% of market cap, and an attractive 8.7% dividend yield. Outlook remains cautiously optimistic.
- Chinese insurers are increasing equity holdings, supporting local markets amid property sector troubles. Regulatory encouragement is expected to drive further inflows into equities in 2026, especially towards dividend and sector-leading stocks.
- Macro outlook: US growth is slowing, with risks from a softer labor market and muted capex. AI-related investments offer some support, but defensive positioning is recommended. In China/HK, insurer flows are stabilizing equity markets and supporting ongoing rallies.
- Key share transactions, buybacks, and dividend schedules for major Singapore-listed companies are provided, with highlights on upcoming ex-dividend and payment dates.
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
