Broker: Lim & Tan Securities
Date of Report: 14 May 2026

Excerpt from Lim & Tan Securities report.

Report Summary
Singapore Post Limited (SingPost):
Action: HOLD recommendation maintained
Target Price: S$0.40 (consensus 1-year target price)
Key Idea: FY26 revenue fell 23.1% YoY to S$376.1m due to steep international revenue contraction and continued letter mail decline. Underlying net profit was S$10.7m (down ~71% YoY), with net profit boosted by exceptional items. SingPost Centre will be retained and not monetized, reducing yield appeal (1.25%). Core PE is high at 100x; outlook remains uncertain.
Implication: Limited upside from current levels; total proposed dividend is 0.47 cents per share.

Centurion Corporation Limited (CCL):
Action: ACCUMULATE rating maintained
Target Price: S$1.87 (consensus target price; 12% upside)
Key Idea: 1Q26 revenue rose 30% YoY to S$89.4m, led by portfolio growth in Singapore, Malaysia, Australia, and positive rental reversions. Directors have recently bought shares. Dividend: 2 cts final and 10% special distribution in CAREIT units.
Implication: Encouraging results, ongoing sector tailwinds, and management share purchases support further upside.

Dividend Highlights (Selected):
Centurion Corp Ltd: 2 ct Final + 1:10 distribution of Centurion Accommodation REIT (ex-entitlement 15 May 2026)
Other stocks with upcoming dividends: OCBC, UOB, Keppel Ltd, Venture Corp, YZJ Shipbuilding, among others.

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 : www.limtan.com.sg