Broker: Lim & Tan Securities
Date of Report: 8 June 2026

Excerpt from Lim & Tan Securities report.

Report Summary

• Lum Chang Creations Limited (\$0.84):
  – The Board is monitoring the market before proceeding with the proposed transfer from Catalist to Mainboard, bonus issue, and placement.
  – The Proposed Placement must be completed before the transfer and bonus issue.
  – Recent share price weakness (down from near \$1.10 to \$0.84) is attributed to sector pressures (inflation, Middle Eastern unrest).
  – Despite sector challenges, company margins and execution remain on target, with continued order wins.
  – Valuations are now more reasonable: Forward PE 10-11x vs. 15-20% expected growth rate; Dividend yield is 6%.
  – Target Price: \$1.00 (Bloomberg 1-year consensus), implying 18% upside.
  – Action: Accumulate on Weakness.
• Civmec Limited (S\$1.56):
  – Order book at record \$1.5bln from new contracts/extensions in resources, infrastructure, energy, and maintenance.
  – Forward P/E 18x; Dividend yield 3.5%.
  – Target Price: S\$1.61 (consensus), 3.2% upside.
  – Action: Accumulate on Weakness.

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