Broker: Lim & Tan Securities
Date of Report: 11 February 2026
Excerpt from Lim & Tan Securities report.
- Singapore market (FSSTI) rose 6.8% year-to-date, with mixed performance across global indices. Recent gains triggered profit-taking in US stocks.
- CapitaLand Investment (CLI) reported stronger Operating PATMI of S\$539 million for FY2025 (+6% YoY), driven by higher contributions from listed funds, lower interest costs, and reduced expenses. However, total PATMI fell to S\$145 million due to lower portfolio gains and revaluation losses in China.
- CLI’s Funds Under Management (FUM) grew to S\$125 billion (+7%), supported by robust fundraising and strategic investments. CLI maintains a core dividend of 12.0 cents per share and a net debt-to-equity ratio of 0.43x, with substantial debt headroom.
- NTT DC REIT posted stable distributable income, strong leasing momentum, and a healthy balance sheet. Portfolio occupancy was high, with positive rental reversions and a diversified tenant base, benefiting from strong data centre demand.
- Institutional investors were net sellers (-S\$121.6m) while retail investors were net buyers (+S\$103.4m) for the week, with detailed sector flows provided.
- Key dividends, acquisitions, disposals, and share buybacks among major Singapore-listed companies are listed for early February 2026.
- Macro updates highlight rising financial stress in lower-income US households and a major asset disposal by Hong Kong Jockey Club.
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
