Broker Name: DBS

Date of Report: June 2024 (inferred based on content and context)

Excerpt from DBS report.

• The Malaysian Ringgit (MYR) has rebounded to a 1-year high against USD and SGD, with DBS forecasting further appreciation through 2026.
• Tech stocks with higher Malaysia exposure may see margin pressure from higher MYR costs, but UMS stands out for its positive offsets and improving order momentum.
• Nam Cheong benefits from a stronger MYR due to significant MYR-denominated earnings and a favourable industry outlook.
• Soilbuild Construction reported record profits, improved margins, and a higher dividend payout, supported by a robust orderbook and clear earnings visibility.

Report Summary:

• MYR strength impacts Singapore-listed stocks differently, with tech names facing cost pressures and companies like Nam Cheong and Soilbuild Construction benefiting from MYR appreciation and improved industry dynamics.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com.sg