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Wednesday, January 28th, 2026

Singapore Market Outlook 2026: Top Stocks, Fund Flows & CapitaLand Insights – Weekly Financial Review


Broker Name: Lim & Tan Securities
Date of Report: 7 January 2026

Excerpt from Lim & Tan Securities report

  • Singapore’s FSSTI Index showed gains YTD, tracking positive global equity performance, while lower interest rates are expected to benefit major Singapore REITs and real estate players.
  • CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Investment Limited (CLI) are highlighted for resilient performance, strong capital management, high occupancy rates, and ongoing asset enhancement initiatives.
  • CICT maintains a Singapore-centric portfolio with a market cap of S\$18.2bn, offering a 5.8% dividend yield and consensus target price upside, leading to an “Accumulate” rating.
  • CLI focuses on accelerating growth, capital efficiency, and operational excellence, supported by robust fundraising, prudent debt management, and ongoing portfolio optimization efforts.
  • Macro outlooks suggest that lower global interest rates will support both equities and bonds, with Singapore REITs likely to benefit from cheaper funding and acquisition opportunities.
  • Recent fund flows show institutional investors selling while retail investors are net buyers in Singapore equities, with sector trends detailed for December 2025.
  • Share buybacks and insider transactions are reported for various companies, alongside a schedule of dividend and special distribution dates for major Singapore stocks.

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

text Download Copy code 1SEO title: SATS Ltd (SATS SP): Embedded Resilience & FY26F Outlook | CGS International Report 2 3Here’s a summary of the SATS Ltd (SATS SP) analysis from the CGS International report: 4 5* **Recommendation:** The report reiterates an “Add” rating for SATS Ltd with a higher target price (TP) of S\$3.60 [[1]]. 6* **Financial Performance:** 4QFY3/25 net profit was S\$38.7m, slightly ahead of estimates. Revenue growth remained consistent. SATS’s cargo tonnage has outpaced global cargo demand, indicating market share gains [[1]]. 7* **FY26F Outlook:** SATS’s growing market share is expected to support earnings growth in FY26F, even with potential trade tensions. Cargo volumes are expected to grow due to market share gains, offsetting potential softening cargo demand in the latter half of FY26F [[1]]. 8* **Earnings Estimates:** FY26F-27F EPS estimates are lifted by 7.9-8.5%, and FY28F estimates are introduced, implying a 3-year earnings CAGR of 15.0% [[1]]. 9* **Valuation:** The TP of S\$3.60 implies 17.3x FY27F P/E, similar to its pre-Covid-19 mean [[2]]. 10* **Key Risks:** Margin compression from weaker operating leverage due to softening cargo volumes and a decline in the aviation travel industry due to an economic downturn [[1]]. 11* **ESG:** SATS maintains a B- ESG combined score by LSEG, with a slight improvement in its Environmental pillar score [[5]]. 12* **Financial Summary:** Revenue, Operating EBITDA, and Net Profit are projected to increase through Mar-28F. Core EPS is also expected to grow [[1]]

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