Broker Name: Lim & Tan Securities
Date of Report: 21 January 2026
Excerpt from Lim & Tan Securities report.
Report Summary
- Singapore’s FSSTI index was slightly down, but gold prices continued their strong upward trend, with CNMC Goldmine highlighted as a prime beneficiary due to its expanded production capacity and exposure to spot gold prices.
- CNMC Goldmine’s earnings are boosted by high operating leverage and a successful CIL plant expansion, but faces a potential headwind from a tax assessment in Malaysia which may overhang the share price until resolved.
- Singapore’s property sector is seeing renewed investor interest, with companies like City Developments, Hongkong Land, and UOL unlocking value through asset recycling, restructuring, and divestments amid narrowing discounts to NAVs.
- Institutional investors were net buyers in Singapore equities for the week, focusing on OCBC, ST Engineering, Hongkong Land, and UOL, while retail investors were net sellers, favoring DBS, Yangzijiang Shipbuilding, and SIA.
- In global markets, US equities are expected to outperform Europe tactically, though European underperformance may offer long-term buying opportunities; the report also notes ongoing partnership talks between Renault and China’s Chery for South American expansion.
- Upcoming key ex-dividend dates and corporate events for Singapore-listed companies are provided for January and February 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
