Broker Name: Lim & Tan Securities
Date of Report: 06 April 2026

Excerpt from Lim & Tan Securities report

Report Summary

• Olam Group Limited (\$0.86): BUY call. Olam announced the sale of its entire 100% stake in Mindsprint Pte. Ltd. to Wipro Networks, expected to generate a gain of US\$310.5 million (~S\$399.1 million). The sale is part of Olam’s 2025 Re-organisation Plan to monetize assets and return capital via special dividends. Proceeds from the sale (~US\$375 million) may be used for special dividends, and pro forma NTA will increase from S\$1.20 to S\$1.31 per share. Olam trades at a deep discount to book, presenting a value entry as more asset disposals are expected, including Olam Agri (~S\$3.4bln) and Arise (~S\$230mln).
• Centurion Corp (\$1.46): Accumulate call. Following the spin-off of 14 assets into CAREIT, Centurion received S\$1.21 billion (S\$0.52 billion in cash, S\$0.69 billion in CAREIT units). Net gearing improved from 29% to 12%. The company is well-capitalized and aims to grow asset-light fee income and expand its portfolio. Consensus target price is S\$1.80 (23% upside).

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 : www.limtan.com.sg