Broker Name: Maybank Research Pte Ltd
Date of Report: January 22, 2026
Excerpt from Maybank Research Pte Ltd report.
- Sanli Environmental (SANLI SP) is rated BUY; the target price is SGD0.45, reflecting confidence in record profits over the next few years despite a recent placement and potential liquidated damages, which are expected to be resolved amicably.
- The company boasts a record orderbook of SGD781.5m, with strong ongoing relationships with key government clients and several major contract wins. New tender results could further drive revenue and profitability.
- Sanli is well positioned for long-term growth from Singapore’s environmental capex cycle and regional opportunities, with resilient, ESG-aligned operations and improving financial metrics projected for FY26E–FY28E.
Report Summary:
- Sanli Environmental raised SGD10.01m to support its record orderbook and is likely to resolve recent project delays with minimal downside risk.
- Strong client relationships, pending new contracts, and an expanding presence in green sectors support long-term growth, margin rebound, and improving profitability.
Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank Research website: https://www.maybank-keresearch.com
