Excerpt from Lim & Tan Securities report.

Report Summary

• Singapore’s FSSTI Index rose 0.4% to a 52-week high, outperforming other major indices. Tech stock weakness affected global markets, with Nasdaq down 1.5% and S&P 500 down 0.5%, while Dow gained 0.5%.
• AIMS APAC REIT reported strong 9M FY2026 results: 3.1% YoY increase in distributions, 2.5% DPU growth, higher occupancy, and portfolio resilience driven by asset management and cost efficiencies. The REIT issued S\$150m perpetual securities and is well-positioned for future growth with strong financial flexibility and a 6.5% dividend yield.
• Keppel Ltd posted a robust FY2025 with a 39% YoY rise in “New Keppel” net profit to S\$1.1bn, driven by recurring income from infrastructure, real estate, and connectivity. Recurring income now dominates core profit, and FUM grew 8% YoY to S\$95bn. The company continues its asset monetisation strategy, proposing higher dividends and special distributions, and is executing a transformation to a global asset manager.
• China’s economic growth remains solid but is increasingly reliant on exports, while domestic consumption lags due to weak confidence and a slumping property market. Calls are made for bolder fiscal stimulus to support households and local governments.
• Institutional investors were net sellers in Singapore equities in late January 2026, while retail investors were net buyers. Key fund flows and stock transactions are detailed, along with upcoming dividend and earnings dates for major Singapore-listed companies.
• Risks include execution on asset monetisation for Keppel, exposure to property market volatility in China, and macroeconomic headwinds. Both AIMS APAC REIT and Keppel Ltd are rated “Accumulate” by the broker, noting positive outlooks amidst lower interest rates and ongoing corporate transformation.

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