Broker Name: Lim & Tan Securities
Date of Report: 24 December 2025
Excerpt from Lim & Tan Securities report.
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Singapore’s FSSTI Index rose 0.6% to 4,639.0, continuing its strong performance, up 22.5% year-to-date. Major global indices also saw gains, with the exception of Hang Seng, which dipped slightly.
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Nam Cheong Limited, a leading Offshore Support Vessel provider, announced the sale of a 4,000 DWT platform supply vessel for US\$20.5 million, with positive contribution expected for FY2025. The company is well-positioned due to its younger fleet profile as the global OSV fleet ages and faces stricter requirements.
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Frasers Property Ltd released its annual report, highlighting disciplined capital recycling and a focus on recurring income. The group delivered a 17.8% profit increase to \$243.1 million, with strong portfolio resilience and capital discipline supporting future growth. The report maintains an “Accumulate” rating for the stock, citing undemanding valuation and attractive yield.
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Chinese technology giants like Alibaba and Tencent are regaining government support, actively pursuing acquisitions and investments, especially in AI and tech sectors, as China seeks to build national champions in these areas.
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Gold is expected to outperform amid rising geopolitical risks, while oil markets may be underpricing supply shock threats. BCA Research closes its short oil position, favoring long gold/short copper and platinum strategies.
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Share transactions and buybacks were active, with notable institutional net selling and strong retail net buying for the week ending 15 December 2025. Institutional investors sold S\$45.6m net, while retail investors bought S\$130.8m net.
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Dividend announcements were listed for numerous SGX companies, with payout dates spanning December 2025 to February 2026.
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The report concludes with a disclaimer regarding investment advice and analyst disclosure.
Report Summary:
- FSSTI Index continues strong gains; Nam Cheong and Frasers Property deliver positive updates and outlooks.
- Chinese tech firms and commodities (gold) are highlighted as sectors of interest amid shifting macro conditions.
- Retail investor activity and dividends remain robust in Singapore’s equity market.
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
