Broker: CGS International
Date of Report: April 30, 2026
Excerpt from CGS International report.
Report Summary
- MSCI Singapore (SIMSCI) Index: Target for 2026 maintained at 480 pts (current: 438.41 pts), based on 20x forward P/E. Six-month technical target set at 482 pts, with major support at 419 pts.
- Sector Highlights:
- Best performing: Services, Developers, Finance
- Underperforming: Retail, Communication, Industrials
- Top Stock Calls (SIMSCI constituents):
- Singapore Exchange Ltd – Outperformed (+9.07%)
- CapitaLand Integrated Commercial Trust (CICT) – Outperformed (+6.08%)
- Genting Singapore Ltd – Outperformed (+4.42%)
- Nanofilm Technologies International – Significant gain (+150.00%) driven by AI-related export demand.
- AEM Holdings Ltd – Significant gain (+85.13%) on positive AI-related export demand.
- Oiltek International Ltd – Strong performance (+69.47%) from sustainable aviation fuel initiatives and Bursa listing news.
- Corporate Actions:
- KEP sold il2 Katong mall for S\$370m.
- CICT sold Asia Square Tower 2 for S\$2.5bn and acquired Paragon for S\$3.9bn, funded by asset sales and private placement (~S\$600m).
- FIRT to divest Indonesian assets for S\$471.5m, with a S\$9.7m special dividend proposed.
- Investment Action: Maintain positive outlook on SIMSCI with 2026 target of 480 pts. Watch for opportunities in outperforming stocks and sectors, especially those linked to AI demand and real estate corporate actions. Major resistance seen in 451–460 pts zone; correction likely.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com
