Broker Name: OCBC Group Research
Date of Report: 19 May 2026

Excerpt from OCBC Group Research report.

Report Summary

• NetLink NBN Trust (NETLINK SP)
  Action: BUY
  Target Price: SGD 1.12
  Key Idea: Despite lower-than-expected 2HFY26 EBITDA and net profit, NetLink announced steady dividend growth, increasing its fair value estimate. The trust declared a higher final dividend and maintains a commitment to sustainable dividend growth. Investors can consider NetLink for stable returns and dividend yield.
• Thai Beverage (THBEV SP)
  Action: BUY
  Target Price: SGD 0.55
  Key Idea: Strong 2QFY26 results driven by robust beer sales and lower raw material costs, which are expected to support margins and cushion softer demand. The outlook remains positive with cost tailwinds and recovery in sales volumes.

above is an excerpt from a report by OCBC Group Research. Clients of OCBC Group Research can be the first to access the full report from the OCBC website : https://www.ocbc.com