Broker: Lim & Tan Securities

Date of Report: 11 March 2026

Excerpt from Lim & Tan Securities report.

Report Summary

• Singapore’s FSSTI Index closed at 4,860.6, little changed amid cautious global sentiment due to volatile oil prices.
• Reclaims Global Limited expects significant improvement in FY2026 net profit, driven by increased revenue from Excavation Services, Logistics, and Leasing segments, supported by strong order wins and a positive outlook for Singapore’s construction sector.
• Reclaims Global recently acquired a commercial building near Farrer Park Hospital, aiming to diversify income and reduce exposure to construction cycles; company is trading at a forward P/E of 11.1x and offers a 4.5% dividend yield with a positive growth outlook.
• Yangzijiang Shipbuilding is acquiring a 10% stake in Poseidon Corp. (Seaspan’s holding company) for US\$825.7m, deepening its strategic relationship with a key customer and gaining downstream exposure in vessel ownership and leasing.
• The Poseidon stake is expected to be EPS-accretive for Yangzijiang and will be funded fully by internal cash, with no shareholder dilution; the board sees long-term strategic value despite the premium paid.
• China is pushing for greater global use of the yuan, opening financial markets and payment systems, and exploring new products like digital currency futures to challenge the US dollar’s dominance.
• Recent fund flows show institutional investors were net sellers (S\$144.9m), while retail investors were net buyers (S\$384.1m) in the week of 2 March 2026; sector flows highlight strong interest in technology and financial services.
• Dividend announcements and share buyback activities remain robust among 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