Broker: Lim & Tan Securities
Date of Report: 3 March 2026

Excerpt from Lim & Tan Securities report.

Report Summary

• The FSSTI Index closed at 4,890.9, down 2.1% for the day but up 5.3% year-to-date; major global indices showed mixed performance.
• ComfortDelGro reported robust FY2025 results, with revenue up 13% to S\$5.06 billion and PATMI up 9.4% to S\$230.3 million; overseas operations now contribute more than half of total revenue and operating profit.
• ComfortDelGro is advancing in international expansion, electric mobility, and smart/AI mobility, proposing a total FY2025 dividend of 8.5 cents (5.7% yield); recommendation is to “Accumulate on Weakness.”
• Samudera Shipping posted a 13.8% revenue rise to US\$605.7 million in FY2025 but saw 2H profits fall 30% due to higher costs; the company maintains a healthy balance sheet and 7.6% dividend yield but faces margin pressures, leading to a “Hold” recommendation.
• Institutional investors were net sellers in the week of 23 Feb 2026 (-S\$64m), with SIA and Yangzijiang Shipbuilding among top buys and DBS, UOB among top sells; retail investors were also net sellers.
• China’s property demand is expected to stay weak, with limited government stimulus and slower growth outlook; risks from the US-China relationship and yen carry trade persist but are seen as moderate.
• The report includes key dividend announcements and upcoming ex-dividend dates for major Singapore-listed companies.

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