Lim & Tan Securities, 28 January 2026
Excerpt from Lim & Tan Securities report.

• The Singapore market (FSSTI) is up 6.0% year-to-date, reaching a 52-week high, with mixed performances across global indices and commodities.
• Grand Banks Yachts (GBY) is highlighted as a niche luxury yacht maker, trading at a discount to global peers like Ferretti, which recently attracted a strategic investor at a higher valuation. The report maintains a BUY recommendation for GBY, citing growth initiatives and potential for valuation upside.
• Mapletree Logistics Trust reported stable results despite macro uncertainties, with healthy portfolio metrics and a 5% yield, but limited upside to consensus target price. The recommendation is HOLD.
• Hong Kong property developers are increasingly seeking private credit due to tighter bank lending from China’s property crisis. Fantasia Holdings plans a new restructuring after past defaults.
• Global macro data show stable but unspectacular growth, with manufacturing PMIs recovering and commodities performing despite subdued cyclical growth.
• Institutional investors were net buyers on SGX for the week, while retail investors were net sellers. Financials saw the largest net institutional buying.
• Lists of recent share transactions, dividend announcements, and key SGX-listed company events for January and February 2026 are provided.
• The report includes a disclaimer and regulatory disclosures specific to Lim & Tan Securities and Grand Banks Yachts.

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