Broker Name: Lim & Tan Securities
Date of Report: 22 October 2025
Excerpt from Lim & Tan Securities report.
Report Summary:
- Singapore’s FSSTI Index rose, reflecting positive earnings momentum; U.S. markets ended mixed with the Dow hitting a record high.
- Sanli Environmental secured its largest contract (S\$281 million) with the LTA, expanding beyond its core PUB business and boosting earnings visibility; consensus expects significant profit growth and a 42% potential return over the next year.
- First REIT announced a S\$25.9 million non-core asset divestment at a 22% premium to cost, aligning with its capital recycling strategy; consensus target price suggests a 10.7% upside.
- Starbucks China is innovating with free “study rooms” and localized offerings to attract Gen Z and compete with domestic rivals.
- Macro commentary highlights subdued U.S. growth, stagflation risks, and a cautious equity outlook; China faces fierce domestic competition in consumer sectors.
- Institutional investors were net sellers while retail investors were net buyers in Singapore markets for the week; notable fund flows in financials and REITs.
- Key upcoming corporate actions and dividend dates detailed for major Singapore-listed firms.
- Lists of SGX watch-list companies and recent share transactions included for market awareness.
- Research disclaimer emphasizes the general nature of the advice and potential analyst interests in Sanli.
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