Broker Name: DBS
Date of Report: Not specified

Excerpt from DBS report

Report Summary

• Singapore Retail Sector: The upcoming Johor Bahru–Singapore RTS Link (launch in January 2027) is expected to cause retail leakage from Singapore to Johor, potentially SGD1.5-2.1bn annually in the medium term. DBS prefers CapitaLand Integrated Commercial Trust (CICT) over Frasers Centrepoint Trust (FCT). CICT is more insulated due to its exposure to prime downtown malls and office portfolio. FCT is more exposed due to its suburban mall concentration, especially in northern Singapore.
• CICT: Action: Preferred over FCT. FY26 yield: 5.0%.
• FCT: Action: Less preferred. FY26 yield: 5.5%.
• Bumitama Agri: Action: BUY. Target Price: SGD2.30. Supported by strong CPO prices, 5–6% yield, attractive valuation, and margin upside from efficiency and utilisation.
• Prime US REIT: Action: BUY. Target Price: USD 0.33. Portfolio shows meaningful leasing momentum and long-term income visibility. FY26-27F yield: 8.5%–10.3%. Stock trades at 0.3x P/B, target P/B 0.6x.

above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website : https://www.dbs.com.sg/