Broker Name: Maybank Research Pte Ltd
Date of Report: 12 January 2026

Excerpt from Maybank Research Pte Ltd report.

Report Summary

• Maybank sees Singapore entering 2026 with a strong combination of macroeconomic resilience, ongoing structural reforms, and attractive valuations, leading to a positive market outlook and a projected STI target of 5,600.
• Key drivers include reforms unlocking value in large caps and SMIDs, Singapore’s leadership in AI boosting productivity and margins, and potential catalysts such as market structure enhancements and low interest rates shifting liquidity to equities.
• Top stock picks include CICT, Coliwoo, CSE, Food Empire, LREIT, OCBC, Sea, SGX, StarHub, and SuntecREIT.
• Coliwoo is highlighted as a significant co-living player expected to grow room capacity by one-third in 2026, pursuing an asset-light strategy for higher ROE and dividends.
• Other sector outlooks include a positive view on ASEAN telecoms, an upgraded BUY rating for Sea Ltd after a correction, and continued optimism on Singapore Exchange (SGX) due to higher trading volumes and upcoming market reforms.
• Maybank also comments positively on iFAST’s acquisition of a 30% stake in Financial Alliance Corporation, seeing it as part of efforts to scale their B2B2C segment in Malaysia.
• Market technicals favor DFI Retail Group and Centurion Accommodation REIT as short-term trading ideas.
• Singapore’s economic prospects for 2026 are expected to remain resilient, with GDP growth forecast at 2.8% supported by AI-related capex, low interest rates, and a construction boom.

Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank Research website: https://www.maybank.com