Report Summary

• Singtel’s Optus unit faced emergency call outages, but impacts are expected to be contained, with only modest near-term financial risks. Singtel’s diversified business, associate contributions, and a SGD2b buyback program help support its valuation.
• Sanli Environmental is well-positioned for strong growth, with a robust tender book and expertise in polder projects, especially with potential participation in Singapore’s SGD100b Long Island project.
• UOL, SingLand, and CapitaLand completed Singapore’s largest en bloc deal since 2023, acquiring Thomson View for SGD810m, which will be redeveloped into a 1,240-unit project.
• Keppel’s Bifrost Cable System is ready for service, offering faster latency and direct connectivity from Singapore to the US, Indonesia, and the Philippines.
• Yangzijiang Financial is investing to control 23.36% of Ningbo Shanshan Co, supporting its restructuring and long-term growth in the lithium battery materials sector.
• The report contains standard disclaimers, interest disclosures, and legal notices for multiple jurisdictions, and clarifies that the opinions and recommendations are not personal investment advice.