Broker Name: OCBC Group
Date of Report: 14 May 2026

Excerpt from OCBC Group report

Report Summary

• Bumitama Agri Ltd (BAL SP)
  Action: BUY
  Target Price: SGD 2.20
  Key Idea: Robust 1Q26 performance with revenue up 22.5% YoY and PATMI up 49.2% YoY. Dividend payout ratio increased to 60-75%, offering an attractive yield (up to 6.8%). Higher CPO prices and strong biofuel demand support constructive outlook. Fair value raised from SGD 1.50 to SGD 2.20.
  Implication: Investors should consider accumulating BAL shares for upside potential on higher CPO prices and enhanced dividends.
• Genting Singapore (GENS SP)
  Action: BUY
  Target Price: SGD 0.77
  Key Idea: 1Q26 results missed expectations due to weaker VIP gaming volume and elevated costs. Prolonged Middle East tensions may impact travel demand and delay earnings recovery. Fair value lowered from SGD 0.87 to SGD 0.77.
  Implication: Investors should be patient with GENS as earnings recovery may take longer; maintain BUY for medium-term upside.

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