Broker Name: Lim & Tan Securities
Date of Report: 8 October 2025

Excerpt from Lim & Tan Securities report.

• Singapore’s FSSTI Index rose 1.1% to 4,472.3, outperforming key global indices and reaching a 52-week high.
• NetLink Trust opened the Seletar Central Office, a S\$110 million facility to enhance the resilience and scalability of Singapore’s Nationwide Broadband Network, supporting upcoming housing, transport, and industrial developments in the northern regions.
• NetLink Trust was highlighted for its defensive, steady business model and attractive dividend yield (5.6%), with consensus target price offering 4% upside; recommended “Accumulate on weakness”.
• Singapore launched the BizAdapt grant (up to S\$100,000 per company) for SMEs and large firms to mitigate tariff impacts, focusing on supply chain reconfiguration and advisory services.
• Medtech manufacturer Forefront Medical (subsidiary of Vicplas International) plans to leverage the grant to manage supply chain costs; Vicplas faces losses from medical devices but profits from pipes.
• Chinese battery giant CATL’s shares surged 75% since April due to optimism in energy storage systems (ESS), with policy tailwinds and AI-driven electricity demand boosting sector outlook.
• Commodity strategists recommend maintaining short positions on LME copper due to US tariff exemptions, inventory overhang, and weaker global trade/manufacturing activity.
• Fund flow data shows institutional investors net buyers (+S\$503m) and retail investors net sellers (-S\$375.7m) in the week ending 29-Sep-25, with banks and REITs among top institutional picks.
• Dividend and special distribution calendar for major SGX-listed companies is provided for Oct-Nov 2025.
• 32 SGX-listed companies are on the watch-list for financial or regulatory concerns, with recent additions noted.

Report Summary

• Singapore’s market outperformed, led by the FSSTI Index and strong institutional buying.
• NetLink Trust and BizAdapt grant developments underscore resilience in digital and manufacturing infrastructure.
• CATL remains a growth leader in China’s battery sector, while copper faces near-term headwinds.
• Retail investors are net sellers; institutional investors are net buyers, especially in banks and REITs.
• Dividend calendar and SGX watch-list updates are included.

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: https://www.limtan.com.sg