Broker Name: CGS International
Date of Report: September 17, 2025
Singapore Retail Market: Bullish Opportunities and Key Trends in Stamford Land and Modern Dental
Market Overview: Investors Brace for Fed Rate Decision Amid Optimistic Retail Sales
Wall Street traders adopted a cautious stance ahead of the Federal Reserve’s rate decision, with major indices showing minimal movement. Despite robust retail sales figures—retail purchases rose by 0.6% in August, matching July’s gain, and control-group sales (vital for GDP calculations) climbed 0.7%—equity rallies faded near record highs. The S&P 500 dipped 0.1%, while the Nasdaq 100 ended its nine-day streak. Treasuries firmed up, with the two-year note yield dropping three basis points to 3.51%. Meanwhile, the dollar weakened and the euro reached its highest level since 2021.
- Retail sales point to a healthy consumer environment.
- Fed is expected to cut rates to protect the labor market, though strong consumer sentiment may temper dovish expectations.
- “Even if the job market is weak, it’s not hurting the consumer yet,” said David Russell at TradeStation.
Stamford Land Corp Ltd (SGX: SIN): Bullish Technical Breakout Sets Stage for Upside
Company Profile
Stamford Land Corporation Limited is an investment holding company engaged in hotel ownership and management, travel agency operations, and property development and investment.
Technical Analysis: Bullish Continuation Confirmed
Stamford Land Corp’s recent price action has signaled a robust bullish continuation, supported by multiple technical indicators. Investors and traders should take note of the following key technical points:
- Breakout from a falling wedge pattern with a strong bullish marobozu bar.
- Ichimoku indicators all trending up, with price above all five indicator components.
- MACD and signal line rising strongly above zero; positive histogram.
- 23-period ROC shows positive momentum.
- Directional Movement Index signals bullish strength.
- Volume shows healthy expansion, supporting the bullish move.
Stamford Land Corp: Entry, Support, Resistance and Targets
| Entry Price(s) |
Support 1 |
Support 2 |
Stop Loss |
Resistance 1 |
Resistance 2 |
Target Price 1 |
Target Price 2 |
Target Price 3 |
Target Price 4 |
| 0.46, 0.43, 0.38 |
0.40 |
0.31 |
0.32 |
0.62 |
0.85 |
0.60 |
0.75 |
0.87 |
1.10 |
The technical picture for Stamford Land Corp suggests a compelling bullish setup. With multiple entry prices, firm support levels, and a series of potential upside targets, the stock appears positioned for sustained momentum.
Modern Dental Group Ltd (HKG): Southeast Asia Expansion Fuels Growth
Company Profile
Modern Dental Group Ltd is a dental prosthetics manufacturer with a diversified global footprint. Following the acquisition of Hexa Ceram, the company is poised to expand its presence in Southeast Asia.
Financial Outlook and Strategy
- Stable 12% year-on-year revenue growth forecast for FY25F.
- EBITDA margin expected to improve, driven by strong operations in Europe and Australia.
- Acquisition of Hexa Ceram diversifies distribution and strengthens Southeast Asia (SEA) presence.
- Recommendation: Reiterate Add.
- Target Price: HK\$6.88, based on 10x FY26F Price/Earnings.
| Metric |
FY25F |
FY26F Target |
YoY Change |
| Revenue Growth |
12% |
— |
Stable |
| EBITDA Margin |
Improved |
— |
Positive Trend |
| Target Price (HKD) |
— |
6.88 |
— |
| P/E Multiple |
— |
10x |
— |
Broker Coverage, Ratings, and Distribution
CGS International provides ratings for stocks, sectors, and countries based on expected returns and strategic positioning.
| Stock Rating |
Definition |
| Add |
Total return expected to exceed 10% over the next 12 months |
| Hold |
Total return expected between 0% and 10% over the next 12 months |
| Reduce |
Total return expected below 0% over the next 12 months |
Sector ratings are similarly defined as Overweight, Neutral, or Underweight, based on market cap-weighted recommendations. Country ratings use a comparable framework for positioning relative to benchmarks.
Stock Ratings and Investment Banking Client Distribution (Q2 2025)
| Rating |
% of Coverage |
% of IB Clients |
| Add |
70.6% |
1.1% |
| Hold |
20.5% |
0.5% |
| Reduce |
8.9% |
0.5% |
A total of 561 companies were under CGS International’s coverage for the quarter ended June 30, 2025.
Key Disclosures and Jurisdictional Coverage
CGS International operates in multiple jurisdictions, each regulated by the appropriate financial authorities. The report includes extensive legal and compliance disclosures for Hong Kong, Indonesia, Malaysia, Singapore, South Korea, Thailand, Australia, Canada, China, France, Germany, Ireland, New Zealand, UAE, UK, EEA, Spain, Sweden, Switzerland, and the United States, ensuring local investor protection and regulatory adherence.
- CGS International and its affiliates may own positions in covered securities and seek investment banking or advisory engagements.
- Analyst compensation is not tied to specific recommendations or investment banking transactions.
- Potential conflicts of interest are managed by established information barriers and regulatory compliance.
Conclusion: Strategic Opportunities in Singapore and Southeast Asia
Retail sector resilience and technical bullish signals in Stamford Land Corp point to emerging upside in Singapore equities. Meanwhile, Modern Dental Group’s revenue momentum and Southeast Asian expansion reinforce its growth trajectory. Investors are advised to conduct independent evaluations and consult financial advisors, as this analysis does not constitute an offer or solicitation.
