Broker: CGS International
Date of Report: July 10, 2025

Singapore Retail Stock Watch: Bullish Trends and Technical Insights for Koh Brothers Eco Engineering and Ley Choon Group

Market Highlights and Global Catalysts

The global equity markets are witnessing historic milestones, with technology bellwether Nvidia Corp. making headlines as the first company ever to reach a \$4 trillion market capitalization. After a 2.8% gain to \$164.42, Nvidia’s share price has surged more than 20% year-to-date in 2025, and over 1,000% since the start of 2023. The company now commands a remarkable 7.5% weighting in the S&P 500 Index, marking near-record influence. This outstanding performance rides on the back of robust, sustained AI spending commitments from tech titans including Microsoft, Meta Platforms, Amazon, and Alphabet. These four giants are forecasted to allocate approximately \$350 billion in capital expenditures in their upcoming fiscal years, a notable rise from \$310 billion this year, collectively contributing to over 40% of Nvidia’s revenue.

China’s Economic Strategy: Navigating Deflation and Innovation

China faces increasing risk of a deflationary trap, prompting urgency for a “new supply-side reform” during its upcoming 15th Five-Year Plan period. The reform agenda is expected to focus on:

• Division: Property inventory reduction
• Subtraction: Cutting excess industrial capacity
• Addition: Increasing government leverage ratios
• Multiplication: Accelerated development in artificial intelligence

This multifaceted strategy aims to address structural economic challenges while fostering technological advancement.

Koh Brothers Eco Engineering Ltd: Bullish Momentum and Technical Strength

Company Profile: Koh Brothers Eco Engineering Ltd. operates across construction, building materials, real estate, leisure, and specializes in designing and installing water and wastewater treatment systems.

Technical Analysis and Performance:

• Koh Brothers has achieved the first target price (TP) at 0.058, delivering a gain of over 40% since February 2025.
• The uptrend remains robust, with a bullish breakout above the previous consolidation range signaling further bullish continuation.
• Ichimoku Indicator: The stock closed above all Ichimoku signals, reinforcing the healthy bullish sentiment.
• MACD: The MACD line is steadily rising above the zero line, with a positive histogram indicating momentum and potential for further reversal upward.
• Stochastic Oscillator: This indicator has been climbing, confirming strong bullish momentum and validating the earlier oversold crossover signal.
• 23-period Rate of Change (ROC): Rising and positive, further supporting the bullish narrative.
• Directional Movement Index: Shows consistent bullish strength.
• Volume: Healthy expansion in trading volume adds conviction to the upward move.

Ley Choon Group Holdings Ltd: Technical Buy Signal with High Upside Potential

Last Price: 0.06 SGD Entry Prices: 0.06, 0.05 Support Levels: 0.04 (Support 1), 0.03 (Support 2) Stop Loss: 0.03 Resistance Levels: 0.07 (Resistance 1), 0.10 (Resistance 2) Target Prices:

• Target Price 1: 0.09
• Target Price 2: 0.11
• Target Price 3: 0.15
• Target Price 4: 0.18

Technical Snapshot: Ley Choon Group, a key player in the Singapore infrastructure space, is showing a strong and sturdy bullish trend. With technical indicators confirming positive momentum, the upside potential remains attractive. Investors should monitor support and resistance levels closely and manage risk with an appropriate stop loss.

CGS International Research: Ratings and Coverage Overview

Stock Ratings Definitions:

• Add: Expected total return >10% over the next 12 months
• Hold: Expected total return between 0% and 10%
• Reduce: Expected total return below 0%

Sector Ratings:

• Overweight: Positive absolute recommendation
• Neutral: Neutral absolute recommendation
• Underweight: Negative absolute recommendation

Country Ratings:

• Overweight: Above-market weight relative to benchmark
• Neutral: Neutral weight
• Underweight: Below-market weight

As of June 30, 2025, CGS International covers 561 companies, with the majority rated as Add, reflecting a bullish outlook.

Key Takeaways for Investors

• Global tech leadership and capital expenditure trends set a dynamic backdrop for regional equities.
• Koh Brothers Eco Engineering’s technical indicators highlight strong upside potential, with momentum confirmed by multiple bullish signals.
• Ley Choon Group is flagged as a technical buy, with defined entry, exit, and target levels offering disciplined trading opportunities.
• CGS International’s research methodology and coverage provide transparent rating systems, helping investors make informed decisions.

Investors are advised to conduct their own due diligence, consult professional advisors, and stay attuned to evolving market and economic conditions.