𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *13/4/26*

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STI: 4977 (-XX) | HSI: 25893 (+141) | Dow: 47916 (-269) | S&P: 6816 (-7) | Nasdaq: 22902 (+80)

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*US Markets Overnight!*

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*Finished Green for the week, Felt Red for the day!*
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A bit of a split personality session last night.

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Indexes mostly drifted lower, but not enough to spoil what was actually a solid week. The Dow Jones fell 0.6%, S&P 500 slipped 0.1%, while the Nasdaq quietly outperformed, up 0.4%. Zoom out, and it’s still a good-looking week, Nasdaq +4.7%, S&P +3.6%, Dow +3.0%. Not bad for a market that keeps getting punched by macro headlines.

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Inflation came in hot on the surface, CPI +0.9% MoM, one of the sharpest spikes in a while. But peel it back, and core inflation was softer than expected. Classic “good cop, bad cop” data. Bond yields nudged higher, 10Y at 4.32%, telling you the market’s not fully convinced the Fed gets to relax just yet.

Then came the real mood killer, consumer sentiment. The University of Michigan print dropped to a record low 47.6. That’s not just weak, that’s “something’s bothering Main Street” weak, with geopolitical tension (Iran situation) clearly weighing.

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Commodities didn’t offer much comfort either. Oil slipped despite ongoing tension around the Strait of Hormuz, which tells you supply concerns are being balanced by demand worries. Gold eased, dollar softened, while Bitcoin held firm above $73K, still acting like the market’s favorite chaos hedge.

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On the stock front, the Magnificent Seven were mixed, nothing too dramatic. NVIDIA stood out with a +2.6% move, still riding that AI wave like it owns the ocean. Meanwhile, *TSMC* ticked higher after posting record revenue, reinforcing the same theme, AI demand isn’t cooling.

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*Quoted on Lianhe Zaobao on Lum Chang Creation*

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A stock can double, even triple… the real question is whether the growth story can keep delivering.

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I was interviewed in a recent piece by Siow Zhi Hui on *Lum Chang Creations*, a name that has been drawing increasing attention after a strong run since its listing.

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What stands out is that the momentum is supported by fundamentals. Earnings have been growing, the order book provides healthy visibility, and the company operates in a space with structural tailwinds, especially with Singapore’s ongoing urban redevelopment efforts.

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On the potential move from Catalist to the Mainboard, my view is fairly straightforward.

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It can enhance visibility, bring the company onto more investors’ radar, and potentially attract greater analyst coverage. I see this as a positive catalyst that complements the broader growth story.

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From a bigger picture perspective, the company’s positioning in urban redevelopment, together with its earnings momentum, offers a narrative that is easy for investors to appreciate. This helps support continued interest and opens up room for further upside as the story progresses.

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At the same time, expectations can be anchored around execution. Part of the near-term growth has been recognised by the market, with further opportunities shaped by how consistently earnings expand and how the order book continues to build.

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It is also worth keeping an eye on key risk factors, including rising labour and material costs, the pace of securing new projects, and the natural cycles within the construction sector. These are part and parcel of the journey, and how the company navigates them will shape the next phase of growth.

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As with many smaller cap names, price movements can be more responsive to shifts in sentiment, which also creates opportunities for investors who are following the story closely.

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Appreciate the thoughtful and well-balanced coverage by Zaobao Business Reporter, Siow Zhi Hui (财经新闻记者 萧梓卉), for capturing the story so clearly and bringing together both the opportunities and risks in a very accessible way.

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E-article: https://www.zaobao.com.sg/finance/singapor...

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*What’s Brewing This Week!*

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Next week feels like one of those “macro meets micro” setups, where geopolitics sets the tone, but earnings decide the follow-through.

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The big overhang remains the *US-Iran situation*. With talks breaking down and no clear resolution in sight, oil stays firmly in focus. Markets just rallied on a temporary ceasefire, but this is still a headline-driven environment. Any shift in tone could quickly swing sentiment, especially for energy, inflation expectations, and risk appetite more broadly.

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On the corporate side, it’s all about the *banks* early in the week. Goldman Sachs kicks things off Monday, followed by JPMorgan Chase and Bank of America. Beyond the numbers, what really matters is the messaging. Watch for trends in trading income, deal-making activity, and most importantly, management tone. When someone like Jamie Dimon talks about a potential tipping point, the market listens. These results will give us a read on whether the economy is cooling, or just pausing.

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Then we shift into AI, which continues to be one of the market’s strongest structural themes. *ASML* and *TSMC* will be key. TSMC already hinted at strong demand, so the question now is whether guidance reinforces that momentum. If it does, it adds fuel to the AI trade. If not, expectations may need a reset.

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Wrapping it all together, the market is coming off a strong two-week bounce, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all posting solid gains. But beneath the surface, we’re still dealing with uncertainty.

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So the way I see it, next week isn’t just about results. It’s about confirmation. Are earnings and guidance strong enough to justify the recent rally, or are markets running a little ahead of themselves?

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Outside of the US, next week is one of those where the macro calendar quietly packs a punch, especially out of China and closer to home in Singapore. We kick off Monday with *China’s new loans data*. Not always the headline grabber, but it gives a good read on liquidity and policy intent. If credit growth comes in strong, it tends to signal that Beijing is still in “support mode” for the economy, something equity markets have been leaning on.

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Tuesday is where things start to get more interesting. *Singapore’s Q1 GDP* will be front and centre, both YoY and QoQ. This is a key pulse check for our domestic economy, especially with external demand still a bit uneven. On the same day, *China’s trade data, exports, imports, and trade balance*, will give a clearer picture of global demand trends. Strong export numbers could reinforce the narrative that parts of the global cycle are stabilising.

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Midweek, attention shifts to Europe. We’ll hear from *Christine Lagarde*, which markets will parse for any shift in tone on rates. Alongside that, Eurozone industrial production gives a sense of how the real economy is holding up, though this is more secondary compared to what’s coming next.

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Thursday is the heavyweight day. *China’s Q1 GDP* and a whole suite of activity data, industrial production, fixed asset investment, unemployment, will essentially set the tone for how investors view China’s recovery. This matters not just for China equities, but broadly across commodities, ASEAN proxies, and even Singapore names with China exposure. On top of that, Eurozone CPI will be closely watched for inflation direction, which feeds directly into rate expectations.

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We wrap up Friday back in *Singapore with non-oil domestic exports*. This is a very market-relevant data point for us, often seen as a leading indicator for the tech and manufacturing cycle. A strong print could reinforce optimism around an electronics upcycle, while a weak one may remind investors that the recovery path is still uneven.

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*What’s Brewing Today!*

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*Seatrium* may see some market interest now that Keppel had disposed all its residual shares. That said, so note that S&P futures is down 80 points as of time of writing following the failure to reach an agreement between US and Iran. Opening may not be good.

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*Happening Today*

CN

— New Loans

US

— Existing Home Sales

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===

*SG Stock news*

— *Keppel* has sold off all residual *Seatrium* shares

https://www.theedgesingapore.com/news/company-news/keppel-has-sold-all-residual-seatrium-shares

— *ST Engineering* licenses Poland's Niewiadów for 40-mm grenade production

— *Zheneng Jinjiang Environment* said discussions about a potential share transaction are still ongoing with no decisions or agreements made, and investors should exercise caution as there is no certainty the deal will proceed.

— *Medtecs International Corporation Limited* has mutually terminated its joint venture with Shijiazhuang Hongray Group Co., Ltd. and will wind up the JV entity, freeing itself from future capital commitments to preserve cash and refocus on core priorities amid challenging industry conditions.

— *Soup Holdings* co-founders in married deal with 15 mil shares changing hands at 6 cents each

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*Earning calendar:*

16 Apr: KDCR^, Alpha Int REIT

17 Apr: KORE US REIT^

21 Apr: KREIT^, OUEREIT

22 Apr: Digicore REIT

23 Apr: Keppel^, Capland China^, iFast, Suntec, First REIT

24 Apr: FCT^, CapLand India^, CICT^, Elite UK REIT^

27 Apr: CapLand Ascendas, CapLand Ascott^

28 Apr: MPACT^, MIT, Aztech, SERT, Micro-mechanics

29 Apr: CLI^, Wilmar

30 Apr: CDLHT^, FHT^

5 May: FLCT^

8 May: Frasers Property^

12 May: NTT DC REIT

14 May: KIT^, Singpost^

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Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

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Start your investment journey here:

https://tinyurl.com/gotopoems

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Cheers!

Dan

Disclaimer: https://tinyurl.com/dan-disclaimer

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#dailyupdate #tradeSGX #POEMS #danccs

𝐌𝐚𝐫𝐤𝐞𝐭 𝐖𝐫𝐚𝐩 (𝐖𝐞𝐞𝐤 𝐞𝐧𝐝𝐞𝐝 𝟏𝟎/𝟒/𝟐𝟔)

Ceasefire or Teasefire? One Tweet, One Swing!

Quite a “stable week” for the 𝐒𝐓𝐈, all things considered, especially with the flip-flop headlines coming out of the Iran conflict. The good news, we briefly touched the psychological 5,000 mark again. Starting the week at 4,950, the index climbed to a high of 5,022 before easing back to 4,980 as of Friday noon, leaving us with a slightest 0.6% gain/loss. Not exactly smooth sailing, but more like choppy waters within a steady tide.

I usually start with the big caps. Let’s mix things up a bit this time round 😂.

Oil on Fire, Oil “Tek” Flight

Flew under my radar last week, but this week it deserves a mention. 𝐎𝐢𝐥𝐭𝐞𝐤 has been on a superb uptrend over the past weeks. Since breaking out of the 90c resistance on 24 March, it surged to a high of $2.14, a sharp 137% gain in 3 weeks, before easing back to $2.05 as of Friday noon, still clocking a cool 32% gain for the week.

Nano is the Name, Breakout is the Game

Third week I’m mentioning it. 𝐍𝐚𝐧𝐨𝐟𝐢𝐥𝐦 had another superb run. Racing from a low of 63c to a high of 81c (+28.5%), breaking past the 70c resistance. Price is now firmly above the 200MA, with the 10MA crossing above the 50MA, a classic bullish signal. The question now is, are we looking at the early signs of a trend reversal, or just a strong burst before the next pause?

Merry Maritime Moves

Another small cap that found itself in the limelight was 𝐘𝐙𝐉 𝐌𝐚𝐫𝐢𝐭𝐢𝐦𝐞, which surged from a low of 51c to hit a high of 64.5c, an impressive 26% gain. There wasn’t much in terms of major news flow, but the trigger likely came from fresh coverage by a local brokerage, sometimes all it takes is a spotlight for the market to start paying attention.

Back Again, ATH Again

I know I keep coming back to this stock, but it is what it is. While the broader week saw mostly sideways movement, it’s hard to ignore that 𝐁𝐮𝐦𝐢𝐭𝐚𝐦𝐚 𝐀𝐠𝐫𝐢 once again hit a fresh ATH of $2.01. The uptrend remains firmly intact, with both short and long term MAs pointing upwards. Looking at the chart, everything seems to be lining up nicely, almost like all the traffic lights have turned green, at least for now.

Steady Giants

Circling back to the big caps, 𝐒𝐓 𝐄𝐧𝐠𝐠 also hit a fresh all-time high this week, touching $11.63. It continues to ride a steady long term uptrend, with a stable dividend to boot. In many ways, it remains one of the more predictable names that tends to benefit from periods of heightened geopolitical tension. It closed at $11.43 as of Friday noon.

Another big cap that had a good week is 𝐒𝐞𝐚𝐭𝐫𝐢𝐮𝐦. Starting the week at $2.40, it looked like there was no looking back, as it pushed to a 52-week high of $2.51 before settling at $2.46 as of Friday noon. The chart still looks pretty constructive, with an uptrend in place since February when it was trading at just $2.02.

Cheers!

Dan

See Disclaimer

#weeklywrap #tradeSGX #danccs

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If you think Dan can value add to your investment journey, click here: tinyurl.com/gotopoems

Disclaimer: tinyurl.com/dan-disclaimer

Ever wondered why some stocks swing wildly while others stay relatively calm?

That’s where beta comes in. It’s a simple metric that shows how much a stock moves compared to the market and helps you 𝐡𝐞𝐥𝐩𝐬 𝐲𝐨𝐮 𝐠𝐚𝐮𝐠𝐞 𝐫𝐢𝐬𝐤 𝐛𝐞𝐟𝐨𝐫𝐞 𝐲𝐨𝐮 𝐢𝐧𝐯𝐞𝐬𝐭.

This week’s post breaks it down in plain English, plus 𝐡𝐨𝐰 𝐭𝐨 𝐮𝐬𝐞 𝐛𝐞𝐭𝐚 𝐰𝐢𝐬𝐞𝐥𝐲 (and what not to rely on).

👉 Read it here:
https://joeychoy.beehiiv.com/p/what-is-bet...

$ST Engineering(S63.SI) continues its strong uptrend, holding above the 11.30 level after a recent breakout.

Uptrend still remain firmly intact with all 3 MAs still heading up. 1GT Bullish signal since the start of 2026 is still playing out, with no signs of reversal yet, supporting the current uptrend structure.

As long as prices stay above the new higher support around 11.30, the outlook remains positive. The next resistance to watch sits at 12.00.

Could we see another push higher soon? 📈

We’ve just wrapped up this week’s session, where we took a closer look at the 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 and broke down what the 𝐒𝐓𝐈 might be signalling based on recent price behaviour. 📊
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We also analysed 𝟏𝟓+ 𝐒𝐆 𝐬𝐭𝐨𝐜𝐤𝐬 𝐫𝐞𝐪𝐮𝐞𝐬𝐭𝐞𝐝 during the session, using the 1GT (Pro) Indicator to highlight trend strength and potential setups.
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Some of the stocks covered includes: Sheng Siong (OV8) | Singtel (Z74) | Bumitama Agri (P8Z) | Wilmar Intl (F34) | ST Engineering (S63) | Sembcorp Industries (U96) | AEM SGD (AWX) | First Resources (EB5) | OCBC (O39) | Pan United (P52) | CSE Global (544) | China Sunsine (QES) | Seatrium (5E2) | Geo Energy Resources (RE4) | Frencken (E28) | IFast (AIY)
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📅 𝐌𝐢𝐬𝐬𝐞𝐝 𝐭𝐡𝐞 𝐬𝐞𝐬𝐬𝐢𝐨𝐧 𝐨𝐫 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐫𝐞𝐰𝐚𝐭𝐜𝐡?
👉 https://www.youtube.com/watch?v=9AES8rTZmoM

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

@sgsiasorg Calling all NetLink NBN Trust unitholders!

Join us for an exclusive briefing hosted by SIAS with NetLink’s management team. Gain key insights into FY25 highlights and discover what’s ahead for FY26. Don’t miss this opportunity to get your questions answered and stay informed.

Date: 9 July, Wednesday

Time: 12.00pm - 1.00pm SGT
Location: SIAS Training Room

Register now: https://bit.ly/3HK3V2r

#NetLinkNBNTrust #SIAS #InvestorBriefing

Struggling with investing? You’re not alone!

Many people find themselves stuck buying high, selling low, or not investing at all due to fear or past losses. If this sounds familiar, this session is for YOU.

Led by a seasoned expert with over 30 years of experience advising top institutional investors, this session offers practical tools to help you take control of your financial future.

Don’t miss out, your journey to financial independence starts here!

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https://youtu.be/sZ6x4yFJTyw
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI) $SGX(S68.SI)

https://youtu.be/gKx4mdDBN_U?si=X0Mw8wxGhz...
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI) $SGX(S68.SI) $Singtel(Z74.SI) $IX Biopharma(42C.SI) $YZJ Fin Hldg(YF8.SI) $UMS(558.SI) $Frencken(E28.SI)

https://www.youtube.com/live/o5BjilohTyQ?s...
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI) $SGX(S68.SI) $Singtel(Z74.SI)

$Kep Infra Tr(A7RU.SI)

Technical Analysis (TA)

The chart reflects a "V-shaped" bottoming process that began in mid-2025, but momentum is currently hitting a critical ceiling.

• Price Action: KIT is trading at $0.530. It has seen a massive rally from the $0.40 lows, but it is currently hitting heavy overhead resistance.


• Support & Resistance:
  Resistance: There is a major "brick wall" at $0.550 (represented by the top horizontal line). The stock failed to break this in early 2026 and is currently testing the $0.509 level, which has flipped from resistance to support.
  Support: Immediate support is at $0.517 (50-day MA). A stronger floor sits at $0.476 (200-day MA).


• Moving Averages: The 20-day and 50-day MAs (pink/blue) are trending above the 200-day MA (green), confirming a medium-term uptrend. However, the price is currently "pinched" between $0.51 and $0.54, suggesting a period of consolidation.

Fundamental Analysis (FA)

KIT's FY2025 results were record-breaking, though heavily influenced by capital recycling.

• Record Distributable Income: KIT reported a 24.4% jump in distributable income to $249.5 million for FY2025.


• The "Divestment" Factor: Much of this growth came from one-off gains (about $49 million) from selling stakes in Philippine Coastal and Ventura. Excluding these, core performance was stable but flat.


• Yield & Dividends:
  FY2025 DPU: 3.94 cents (a slight 1% increase).
  Current Yield: At $0.53, the yield sits at a healthy 7.4% - 7.6%.
  Next Payout: The next quarterly dividend (estimated $0.02) has an ex-date around May 11, 2026.


• Gearing: Net gearing improved to 38.7%, giving the trust roughly $600 million - $800 million in debt headroom for new acquisitions without needing an equity fundraise (EFR).

Future Business Outlook (Singapore & Global)

KIT is evolving from a traditional "waste and water" trust into a "Digital & Energy Transition" powerhouse.

1. Digital Infrastructure Expansion

The acquisition of a 46.7% stake in Global Marine Group (GMG) in late 2025 is the key growth story for 2026. This marks KIT's entry into subsea cable maintenance—a high-barrier-to-entry business that supports global AI and data center growth. We will see the first full-year contribution from this segment in 2026.

2. Energy Transition (City Energy & Solar) 

City Energy remains the "cash cow," but growth is coming from the German Solar Portfolio and European wind farms. While the wind segment saw a dip in 2025 due to lower energy prices in Europe, the 2026 outlook is more stable as power purchase agreements (PPAs) reset.

3. Environmental Segment Headwinds

This is the "weak link" for now. The Senoko Waste-to-Energy plant is contributing less following its concession extension, and Eco Management Korea (EMK) is facing price pressure in the landfill business. Management is currently expanding EMK’s incineration capacity to offset this, but results won't materialize until 2027.

Summary Verdict

• For Income Seekers: KIT remains a core "Yield Play." The 7.5% yield is well-covered by cash flows, even without divestment gains.


• For Capital Growth: The "easy money" from the $0.40 recovery has been made. To break above $0.55, the market needs to see successful integration of the GMG acquisition and a turnaround in the Korean environmental assets.

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Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net/

‌Technical Analysis (TA)

The chart shows a strong bullish momentum that has accelerated over the last quarter. $VICOM(V01.SI) $VICOM Ltd(WJP.SI) 

• Moving Averages (MA):  The short-term MA (pink/blue lines) is well above the 200-day long-term MA (green line), which is currently trending up at $1.637. This indicates a sustained long-term uptrend.


• Price Action: The stock is trading at $1.82, a multi-year high. It has successfully cleared previous resistance levels at $1.50 and $1.65.

Support & Resistance: *

• Resistance: Immediate psychological resistance at $1.90 - $1.92 (marked by  horizontal line).


• Support: Immediate support lies at $1.78 (50-day MA area). A strong historical floor is now established at $1.64.


• Momentum: The recent sharp "leg up" suggests high buying interest, likely tied to the strong FY2025 earnings report released in February.

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Fundamental Analysis (FA)

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VICOM’s recent financial performance has been exceptional, but it contains a "one-off" element you should note.

• Earnings Surge: For FY2025, VICOM reported a 45% jump in net profit to $42.5 million. This was largely driven by the ERP 2.0 OBU (On-Board Unit) installations, where VICOM was a major partner.


• Dividend Profile: * Final Dividend: A final dividend of $0.053 has been declared (Ex-date: April 29, 2026; Payment: May 8, 2026).
  Total Yield: Including the interim dividend, the total FY2025 payout is $0.084, representing a trailing yield of roughly 4.6% - 4.7% at current prices.


• Balance Sheet: The company remains rock-solid with zero debt and a high Return on Equity (ROE) of 28.1%.


• Valuation: The P/E ratio has expanded to approximately 27x, reflecting the market's willingness to pay a premium for its defensive nature and recent growth spurt.

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Future View: The Singapore Business Outlook

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As we move into mid-2026 and 2027, the narrative for VICOM is shifting from "OBU growth" to "Industrial diversification."

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1. Normalization of Vehicle Inspection

The OBU installation windfall will taper off in 2026 as the mandate nears 100% completion. You should expect revenue in the vehicle segment to stabilize back to its "steady-state" growth, which is linked to Singapore’s vehicle population and COE cycles.

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2. The Jalan Papan Hub (Non-Vehicle Testing)

This is the major growth catalyst. The new integrated testing hub at Jalan Papan is expected to be fully operational in the second half of 2026. This expands VICOM's capacity for:

• EV Testing: As Singapore pushes for full EV adoption by 2040, VICOM is positioning itself as the primary authority for complex electric drivetrain and battery inspections.


• Industrial Testing: Strengthening its "SETSCO" arm to provide testing for the aerospace, construction, and food industries, which are higher-margin and less regulated than vehicle inspections.

3. Defensive Play in a Volatile Market

With interest rates expected to plateau or dip slightly in 2026, VICOM remains a "bond-proxy" favorite for Singapore investors due to its consistent 70% dividend payout policy and monopolistic position in the inspection market.

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Summary Verdict:

Technically, the stock is overbought in the short term, and a consolidation toward $1.75 - $1.78 wouldn't be surprising after the ex-dividend date. Fundamentally, it remains a "Blue Chip" defensive play, though 2026 earnings may appear "flat" compared to the high base set by the OBU project in 2025.

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net/

‌As of March 31, 2026, $CapitaLandInvest(9CI.SI) is navigating a fascinating "inflection point." While the technicals show a stock testing a major multi-year ceiling, the fundamentals are shifting toward a higher-quality, asset-light model.

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1. Technical Analysis (TA)

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Looking at the provided chart, we see a textbook ascending triangle/wedge formation that has been developing since early 2025.

• Major Resistance ($3.125): This is the "Line in the Sand." The stock has tested this level five times over the last three years (blue circles). It is a heavy supply zone. A convincing breakout above $3.12 with high volume would be a massive bullish signal, likely targeting the $3.50–$3.65 range.


• The Ascending Trendline: Notice the higher lows (bottom blue line). The stock is consistently finding support at increasingly higher levels, currently hovering around $2.72–$2.80.


• Moving Averages: The 20-day (pink) and 50-day (blue) MAs are beginning to cluster. We are seeing a "squeeze." Usually, when the price gets compressed between a rising floor and a flat ceiling, a volatile move is imminent.


• Current Pivot: The price is currently testing the 200-day MA (green line). Holding above $2.70 is crucial to maintain the bullish structure.

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2. Fundamental Analysis (FA)

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The "Future CLI" strategy is starting to show up in the numbers following the FY2025 results released in February.

• Earnings Quality: Operating PATMI rose 6% YoY to S$539M in 2025. While total PATMI was dragged down by S$439M in revaluation losses (mostly from China), the recurring fee-income business is the real story—it now makes up over 50% of total revenue.


• Asset-Light Transition: Funds Under Management (FUM) grew to S$125B. The goal is S$200B by 2028. Management is aggressively recycling capital, divesting "old" heavy assets and reinvesting into private funds and lodging.


• Lodging Powerhouse: The Ascott brand is a hidden gem. Fee revenue here grew 5% in 2025 with record contract signings, providing a steady cash flow hedge against volatile property valuations.


• Valuation & Yield: * Dividend: Proposed 12.0 cents, giving a yield of approx 4.4% at current prices.


• Target Price: Consensus among major analysts (DBS/POEMS) remains bullish, with TPs ranging from S$3.65 to S$3.69.

$CapLand IntCom T(C38U.SI) $CapLand Ascott T(HMN.SI) $CapitaLand(C31.SI)

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3. Macro Outlook

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The macro environment in 2026 is a "mixed bag" but generally leaning tailwind for CLI.

• The Interest Rate Pivot: Global rates have stabilized. For a real estate manager, "stable" is better than "low but rising." This allows CLI to price deals with more certainty and lowers the refinancing risk on their S$6.4B debt headroom.


• The "China Drag" vs. India/SEA Growth: China remains a headwind for valuations, but CLI has successfully pivoted. Significant capital is being redeployed into India (Logistics/Data Centers) and Southeast Asia, which are currently the "growth engines" for the APAC region in 2026. $CapLand India T(CY6U.SI) $CapLand China T(AU8U.SI)


• Singapore Safe Haven: As global volatility persists, the Singapore market (STI) is seen as a defensive play. CLI, as a blue-chip constituent, benefits from the institutional "flight to quality."

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💡 Final Verdict

‌

• Short-term: CLI is in a "wait-and-see" mode. Watch the $3.125 resistance. If it fails to break, we might see a dip back to the $2.60 support level, which would be a prime "Buy on Dip" entry.


• Long-term: The transition to a fee-based model (similar to global giants like Blackstone or Brookfield) should eventually lead to a valuation re-rating. You aren't just buying buildings; you're buying a global fund management platform.

‌

Kenny Loh is a distinguished MAS Private Wealth Advisor (RNF: LKK300389588) representing Financial Alliance with a specialization in holistic investment planning and estate management. He excels in assisting clients to grow their investment capital and establish passive income streams for retirement. Kenny also facilitates tax-efficient portfolio transfers to beneficiaries, ensuring tax-efficient capital appreciation through risk mitigation approaches and optimized wealth transfer through strategic asset structuring.
👉 https://www.kennyloh.net/

Last week market sentiment is turning up. Momentum getting stronger. Construction sector is moving.

My favorite, nothing compares to $Wee Hur(E3B.SI).

I have been following Wee Hur since 21 cents two years ago.
I rode the trend with my clients, monitoring it day in day out.

Today, Wee Hur is no longer just a small construction company.

Wee Hur is now part of the iEdge Singapore Next 50 Index

• It is among the next tier of large and liquid companies on SGX


• More visibility to institutional investors


• Potential inclusion in fund flows linked to EQDP initiatives and future ETFs

To me, it has two engines now:

🏗️Engine 1: Construction

• S$673m order book


• Visibility till around 2029


• Supported by strong project pipeline


• This gives the company multi year earnings visibility

🏢 Engine 2: Dormitory

• Pioneer Lodge expansion with +67% capacity


• +10,500 beds already completed in FY25


• Meaningful earnings uplift expected from FY26

This is important.

👉Recurring income
👉Rising dorm rents
👉More stable earnings profile

📊 Analyst Target Price:

Phillip Research: S$1.08
DBS Research: S$0.90

📉 Technical View:

Wee Hur price action is almost textbook for technical analysis.

It corrected significantly after forming a triple top around 0.925,
and came down to form a triple bottom near 0.64.

Last Friday, price broke above the 200EMA,
coinciding with DBS initiating Buy with target price 0.90.

My General X momentum trend following indicator also triggered a buy signal on Friday.

📌 My Trade Action

I initiated a position with an average price of 0.7333 on Friday

Target:

🎯 0.785
🎯 0.85
🎯 0.925

⚠️ Exit if the price closes below 20 EMA for 2 consecutive days

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘InvestSG’ on WhatsApp: https://wa.me/6590908871

I trade for myself and my clients. I’m a remisier and one of the top traders at Phillip Securities.

I joined this 3-week tournament for educational purposes and to promote the local market.

My goal is simple:
👉 show that steady,  consistent profits can come from a simple rules, discipline and proper risk management.

For educational purposes, I set my own rules for this tournament:
🔹No leverage
🔹No hedging
🔹No illiquid small-cap high-risk counters
🔹One counter at a time

Keep it simple, as my real trading is much more complex

Some colleagues asked me,
'Why join? What if you lose? Won’t it affect your reputation as a top trader?'

Honestly, I have zero pressure.
This is exactly how I trade every day. Some more losses are part of trading.

Even though this is virtual capital, every trade mirrors my real positions.

So, this is not a game —
it’s my real trading process.

First 5 days: +9%.

Here’s how I did it 👇

Week 1 Trades (Simple Breakdown)

Apr 06
Bought $China Aviation(G92.SI) at 2.17 when the market opened
Stock went up to 2.24 but closed back at 2.17

🔹Thought:
Momentum was there, but not happy with the weak close

Apr 07
China Aviation opened strong, hit 2.20, then dropped fast
Cut loss at 2.14 within the first 60 mins

🔹Thought:
Bad start, but must cut fast when wrong

Saw $Wilmar Intl(F34.SI) break 3.88 resistance
Bought at 3.89
Closed at 3.93 (day high), kept overnight

🔹Thought:
Clean breakout, momentum looks good

Apr 08
Ceasefire news before market open, oil dropped
Sold Wilmar at 3.95 at open

🔹Thought:
Oil down, better to exit first

17 mins later, system detected $IFAST(AIY.SI) moving
Bought at 9.16
Closed at 9.34 (day high), kept overnight

🔹Thought:
Fresh momentum play, follow system

Apr 09
iFAST showed weakness before lunch
Sold at 9.42–9.43

🔹Thought:
Momentum slowing, take profit

Thai market opened at 11am (SG time)

Delta Electronics broke all-time high
Bought $Delta TH SDR 1to1(TDED.SI) at 11.69–11.74

🔹Thought:
Strong breakout, AI theme
📌I’m SGX SDR Ambassador, familiar with SDR, high conviction.

Delta is largest company in Thai market by market cap.

Apr 10
Delta continued up
Sold the SDR at 12.51 after lunch

🔹Thought:
Momentum slowing and I don’t want to hold over the weekend

Final Thoughts

I focus on doing the right things:
Cut loss fast
Follow momentum
React, not predict
Stay disciplined

That’s how the +9% came in 5 days.

My simulation portfolio link: alexlowwh - Portfolio

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📍 I help clients who are willing to pay higher commissions to trade, aiming for higher returns (>12%). If you’re interested, feel free to reach me on WhatsApp: https://wa.me/6590908871

📌I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871

💡If you want to learn the basics of trading, you can watch my chinese webinar on YouTube: https://www.youtube.com/watch?v=_1pKcfqcgQo

$SIA(C6L.SI) 

Starting Point — My Initial Trade

On 7 Feb 2026, I shared my view on SIA and bought at $6.70.

Since then, the price action has been quite interesting. Let me walk you through what happened.

Phase 1: Breakout After Results

After the FY25 results on 24 Feb, SIA moved up nicely and hit my first target at $7.18.

At the same time, sentiment improved quickly and analysts started upgrading their views:

• Phillip Research: $7.00
• Maybank: $7.03
• UOB Kay Hian: $7.18
• DBS Research: $7.50

Everything was moving in the right direction.

Phase 2: Sudden Shock from War

Then the market got hit by unexpected news.

On 28 Feb, the Iran US conflict started. Oil spiked above $100, and SIA gapped down on 2 Mar.

This kind of move usually shakes out a lot of weak holders.

Phase 3: Company Steps In

But what caught my attention was the company’s reaction.

Between 2 Mar and 6 Mar, SIA stepped in to buy back shares:

• Around 3 million shares
• Price range: $6.57 to $6.89

To me, this is a strong signal. Management clearly does not agree with the sell off.

Phase 4: Testing and Stabilising

On 9 Mar, the price dropped to $6.33 but did not stay there.

It rebounded and since then has been consolidating between $6.52 and $6.71.

Despite oil staying above $100 and the war still ongoing, SIA is holding its ground. It is not breaking down. It is just quietly stabilising.

What I’m Seeing on the Ground

As a remisier and trader on the ground, this kind of price behaviour is something you can feel.

The market is not weak. In fact, there is underlying resilience, especially in our local names.

In the last two trading sessions, momentum started to pick up again. My General X momentum trend following system triggered a BUY signal on Thursday.

Trade Plan — What I Will Do Next

Everything now comes down to one key level.

If SIA can hold above or break $6.71 again next week, the chances of another move up is high.

My plan is simple.

I will buy on strength if it breaks $6.71 again on Monday.

Targets:

🎯$6.90
🎯$7.18

My previous post: https://www.investsg.asia/posts/2875162

For reference only. Please refer to disclaimer: https://tinyurl.com/alex-disclaimer

📌If you find this analysis useful, I share weekly trading ideas and special trade setups via my WhatsApp community announcement group (one-way, no spam).

👉 To join, simply message ‘Weekly Ideas - InvestSG’ on WhatsApp: https://wa.me/6590908871