𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *28/4/26*

.

STI: 4892 (-30) | HSI: 25925 (-52) | Dow: 49167 (-62) | S&P: 7173 (+8) | Nasdaq: 24887 (+50)

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*US Markets Overnight!*

.

*Records on Repeat, but Is the Beat Getting Weak?*

.

A pretty classic “grind higher” session to kick off a big week.

The S&P 500 and Nasdaq both notched fresh intraday and closing highs, up 0.1% and 0.2% respectively. Nothing explosive, but when you’re already at all-time highs, even small gains matter. The Dow Jones lagged slightly, down 0.1%.

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One may ask, what’s driving things now? Two words: Fed + Big Tech.

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Markets are basically in “don’t break anything” mode ahead of the FOMC decision midweek, with rates expected to stay put. At the same time, earnings from the heavyweights, think *Microsoft, Amazon, Alphabet, Meta Platforms and Apple*, will likely set the tone. Basically, if Big Tech delivers, indices probably keep floating.

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Semicons still stealing the spotlight though. *Nvidia* hit another ATH, up 4%, continuing its “gravity is optional” run. Meanwhile, Intel is having a moment, up again after last Friday’s massive breakout, finally clearing a level it hasn’t seen since 2000. Not something you see every day. *Qualcomm* also extended gains on AI-related chatter. The market is clearly rewarding anything tied to compute and AI pipes.

Macro side, a bit of spice.

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Oil moved higher, WTI near $96 and Brent above $108, after geopolitical noise involving Donald Trump scrapping talks related to Iran. Energy quietly creeping back into the narrative.
.

In term of single stock movers, *Domino’s Pizza* got whacked, down ~9% on weak results and guidance, reminder that consumer names aren’t all cruising. *Verizon Communications* did fine, modest gain on solid earnings. *Organon* popped 17% on a takeover by Sun Pharmaceutical Industries, deal-driven moves still alive and well.

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*What’s Brewing Today*

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Understand that there is a good announcement on *ST Engg* securing contracts. But please also note that it is going XD of $0.11. So vested investors may want to take that into consideration when calculating for the entry level. Small cap wise,*Mooreast* may continue to receive some spotlight after divestment to nett $19.2M. Take note it was already up 6.48% yesterday.

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In terms of earnings, nothing new for *Mapletree Pan Asia Commercial Trust*. Same old story. Softer overall performance due to overseas headwinds, but Singapore assets, led by VivoCity, held firm with strong NPI growth, helping cushion the impact while lower finance costs supported distributions. Despite a slight dip in reported DPU, balance sheet discipline, asset recycling, and stable tenant demand continue to anchor resilience.

https://links.sgx.com/1.0.0/corporate-announcements/OE5EAVRAI6LKCEM1/886205_20260428_MPACT%204Q%20FY2526%20Results%20Presentation.pdf

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Not a bad business update from *Capitaland Ascendas REIT*. Expect some market interest there (see below for business updates).

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===

*SGX Research Vault*

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*Singapore’s Tech Rally: From Narrative to Delivery*

https://www.sgx.com/research-education/market-updates/20260427-singapores-tech-rally-narrative-delivery

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*JEP, XMH Chairs Up Stakes; AGT Becomes OKP Substantial Shareholder; MoneyMax Placement*

https://www.sgx.com/research-education/market-updates/20260427-jep-xmh-chairs-stakes-agt-becomes-okp-substantial

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===

*Happening Today*

SG XD

— APAC Realty: SGD 0.018

— CMS: CNY 0.1366

— HRnetGroup: SGD 0.022

— Mermaid Maritime: USD 0.001

— Mewah Intl: SGD 0.0062

— Sing Inv & Fin: SGD 0.075

— SingHoldings: SGD 0.01 + SGD 0.04 SPECIAL

— ST Engineering: SGD 0.06 + SGD 0.05 SPECIAL

SG Earnings

— MPACT^, MIT, Aztech, SERT, Micro-mechanics, IREIT, World Precision, SERT

JP

— BoJ Interest Rate Decision

EU

— ECB President Lagarde Speaks

US

— CB Consumer Confidence / House Price Index / API Weekly Crude Oil Stock / Dallas Fed Services Revenues

.

===

*SG Stock news*

— 👍*ST Engineering* announced that the Group secured $4.8b in new contracts in the first quarter of 2026. These comprised $1.7b from the Commercial Aerospace segment, $2.4b from the Defence & Public

Security segment and $0.7b from the Urban Solutions & Satcom segment.

— ⭐️* Addvalue Technologies* announce that the Group has secured several new orders through one of its key growth drivers, Space Connectivity (“SPC”)-related Business (“New Orders”) to boost its FY2027 growth

—👍 *Stoneweg Europe Stapled Trust* delivered a steady 1Q 2026, with DPS up 1.5% and resilient income supported by solid occupancy, positive rent reversions, and no near-term debt risks. At the same time, it’s leaning into future growth, ramping up its data centre strategy with a €50M investment targeting stable 7.25% returns as it builds toward a 15–25% allocation by 2028.

https://links.sgx.com/1.0.0/corporate-announcements/LB7U1KXJKL4AZ4S1/886210_SERT_1Q2026_Presentation_28Apr2026.pdf

—👍 *CapitaLand Ascendas REIT* delivered ~S$1.65bn of acquisitions in 1Q 2026 with ~S$730m ongoing projects, while maintaining 90.5% occupancy, 10.6% rental reversion and 3.8-year WALE, alongside a 42.0% leverage (expected ~37.3% post equity raise) and ~3.5% debt cost. Outlook remains cautiously positive with stable portfolio fundamentals and DPU-accretive growth, though global growth is projected to slow to 3.1% in 2026 amid geopolitical risks and persistent inflation.

https://links.sgx.com/FileOpen/CLAR_1Q%202026%20Business%20Updates%20Presentation_27Apr2026.ashx?App=Announcement&FileID=885931

— *Yangzijiang Maritime* Expands Fleet Portfolio with 10 Additional Newbuilds to Strengthen Future Prospects

— *Mooreast* to Divest 51 Shipyard Road for S$29.7 Million; Net Proceeds of S$19.2 Million Will Accelerate Offshore Wind Activities at New Location

— *Powermatic Data Systems* is expected to report a significant improvement in profitability compared to FY2025

— *Eneco Energy* has signed an SPA to acquire 100% of Fastweld Engineering Construction for 100,000 shares via its subsidiary, converting an earlier MOU into a binding deal, subject to shareholder approval as an interested person transaction.

— *H2G Green’s* GasHub has commissioned a major LNG facility for a large-scale Singapore laundry provider, supporting its diesel-to-LNG transition that is estimated to cut the facility’s carbon footprint by about 24% while improving efficiency, cost stability and operations.

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===

*Earning calendar:*

28 Apr: MIT, Aztech, Micro-mechanics, IREIT, World Precision, SERT

29 Apr: CLI^, Wilmar, Starhill Global

30 Apr: DBS^, CDLHT^, FHT^, Parkway Life, MLT

4 May: UOI

5 May: FLCT^, Uotragreen^

6 May: GE^, ACROPHYTE HT^, Manulife US REIT^

7 May: UOB^, AIMS REIT, Avepoint

8 May: OCBC^, Frasers Property^

11 May: SIA Engg

12 May: NTT DC REIT, Prime US REIT

13 May: UHREIT^

14 May: KIT^, Singpost^, Sassuer REIT^, SIA

18 May: LREIT

25 May: SATS

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

..

Cheers!

Dan

Start your investment journey here:

https://www.phillip.com.sg/talktophillip/danccs/

Disclaimer:

https://tinyurl.com/dan-disclaimer

.

#dailyupdate #tradeSGX #POEMS #danccs

𝐌𝐚𝐫𝐤𝐞t 𝐔𝐩𝐝𝐚𝐭𝐞 *27/4/26*

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STI: 4922 (-21) | HSI: 25978 (+62) | Dow: 49230 (-79) | S&P: 7165 (+56) | Nasdaq: 24836 (+398)

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*US Markets Overnight!*

.

*Intel’s Boom, Dot-Com Déjà Vu?*

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US markets wrapped the week on a strong note, with the Nasdaq (+1.6%) and S&P 500 (+0.8%) notching fresh highs and a fourth straight weekly gain, while the Dow Jones lagged slightly.

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The real star was *Intel*, up a whopping 24% to a record high, finally breaking its 2000 ceiling, thanks to strong earnings and AI optimism, and it dragged the whole chip gang higher, including* Advanced Micro Devices, Qualcomm, and Arm Holdings*, all posting double-digit gains.

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The “Magnificent Seven” mostly joined the party, led by *Nvidia* (+4.3%), though *Apple* sat this one out, ahead of a big earnings week.

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Outside tech, it was a mixed bag, *Procter & Gamble* edged up, while *Charter Communications* and *HCA Healthcare* got punished post-results.

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Macro-wise, oil cooled slightly on renewed US-Iran talks, the 10-year yield dipped to 4.31%, and gold ticked higher, while the DOJ closing its probe into Jerome Powell quietly removed a political overhang.

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*What’s Brewing This week*

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Despite being a holiday-shortened week, it’s a packed macro + earnings week, and markets will be watching two things closely, the *Fed’s tone* and *Big Tech’s follow-through*.

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The headline event is the *FOMC meeting* wrapping up Wednesday, with Jerome Powell speaking shortly after. Rates are widely expected to stay at 3.5% to 3.75%, so the real signal will come from guidance, especially how the Fed views growth, inflation, and the ripple effects from the U.S.–Iran tensions. Investors are increasingly looking for hints of cuts later this year, but with inflation risks still lingering, Powell is unlikely to sound overly dovish.

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On the earnings front, it’s all about the “Magnificent Seven,” with *Alphabet, Amazon, Meta Platforms, and Microsoft* reporting Wednesday, followed by *Apple* on Thursday. These names have been carrying the market, so expectations are high. The key theme is AI spending, markets have been happy to fund it so far, but the focus is shifting to when, and how convincingly, that investment translates into real returns.

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Outside of Big Tech, there’s a supporting cast worth watching. *Seagate Technology* and *Western Digital* will give a read on AI infrastructure demand, while *Starbucks* and *Chipotle Mexican Grill* offer a pulse check on the consumer. Energy giants *ExxonMobil* and *Chevron* will be especially sensitive to oil price swings tied to geopolitical headlines.

Finally, the weekend brings *Berkshire Hathaway’s* annual meeting, now under Greg Abel. It’s always a market-moving forum, especially for broader economic commentary.

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Outside of the US, next week is a bit of a “quiet but telling” one, where the data may not scream, but it definitely whispers clues about growth and policy direction. The key spotlight is on Japan, with the *Bank of Japan rate decision* on Tuesday, any shift in tone here matters, especially as markets watch whether Japan finally leans away from ultra-loose policy. *China* also takes centre stage on Thursday with its *PMI data, manufacturing and services*, both just hovering above expansion, so the real question is whether momentum is stabilising or starting to fade again. Earlier in the week, *China’s industrial profits* and *Singapore’s industrial production* will give a pulse check on regional demand, especially with Singapore’s previous MoM contraction of 7.2% hinting at some softness. Wednesday is a Japan holiday, so expect a slight midweek lull, before markets refocus on China’s numbers. Overall, not a blockbuster week, but one where subtle shifts, especially from Japan policy and China growth signals, could quietly set the tone for markets ahead.

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Big picture, this week is less about what happens, and more about what’s signaled, Fed policy direction and whether AI optimism can keep justifying market leadership.

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===

*Happening Today*

SG XD

— CapLand IntCom T: CAPITAL DISTRIBUTION : SGD 0.0006 + DIVIDEND SGD 0.0365 + SGD 0.0027

— China Everbright: SGD 0.0069

— Keppel Ltd: SGD 0.19 + SGD 0.02 SPECIAL
SG Earnings

— CapLand Ascendas, CapLand Ascott^

SG

— Industrial Production

CN

— Chinese Industrial profit YTD

US

— Dallas Fed Mfg Business Index

.

===

*SG Stock news*

— *CapitaLand Ascott Trust’s* 1Q 2026 performance remained broadly stable despite renovation disruptions and macro headwinds, supported by diversification, resilient lodging demand, active portfolio recycling, and strong capital management positioning for future growth.

https://links.sgx.com/1.0.0/corporate-announcements/8SLWP8QUAJ2C4DU0/885855_20260427_CLAS_1Q%202026%20Business%20Updates.pdf

—⭐️ *Boustead Singapore* announced that its subsidiary Boustead Projects E&C Pte Ltd secured its largest-ever contract, worth over S$400 million, to build a public sector office complex in Singapore, boosting its order backlog though with limited near-term earnings impact.

—⭐️ JP Morgan Chase raises stake in *AEM Holdings* to above 7%

— *UI Boustead REIT* launches maiden investment in UIB Konan Phase 3 development project

— 👍*Centurion Corporation* has agreed to acquire a freehold key worker accommodation property in South Hedland, Western Australia, its second such purchase in the region this month, to expand its portfolio and support housing demand from mining, healthcare and government sectors while boosting earnings.

— *Seatrium Limited* received High Court approval for its Deferred Prosecution Agreement related to Operation Car Wash, requiring a net payment of about US$57 million to Singapore authorities, with no material impact on its FY2026 earnings as provisions were already made.

— *SHS Holdings* receives EGM requisition to implement equal access share buyback at 17 cents per share

— 👍 *Serial Achieva* secures contract for AI infrastructure solutions with potential value of up to US$18.8 million

—‼️ *World Precision Machinery* is expected to report a loss after tax in 1QFY2026.

— *Mooreast Holdings* has granted an option to sell its leasehold property at 51 Shipyard Road in Singapore for S$29.7 million, subject to the buyer exercising the option and shareholder approval, making it a major transaction.

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===

*Earning calendar:*

27 Apr: CapLand Ascendas, CapLand Ascott^

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

29 Apr: CLI^, Wilmar, Starhill Global

30 Apr: DBS^, CDLHT^, FHT^, Parkway Life, MLT

4 May: UOI

5 May: FLCT^, Uotragreen^

6 May: GE^, ACROPHYTE HT^, Manulife US REIT^

7 May: UOB^, AIMS REIT, Avepoint

8 May: OCBC^, Frasers Property^

11 May: SIA Engg

12 May: NTT DC REIT, Prime US REIT

13 May: UHREIT^

14 May: KIT^, Singpost^, SIA

18 May: LREIT

25 May: SATS

.

Sources:

www.sgx.com

www.investing.com

www.theedgesingapore.com

..

Cheers!

Dan

Start your investment journey here:

https://www.phillip.com.sg/talktophillip/danccs/

Disclaimer:

https://tinyurl.com/dan-disclaimer

.

#dailyupdate #tradeSGX #POEMS #danccs

🚨 𝐑𝐞𝐩𝐥𝐚𝐲 𝐢𝐬 𝐨𝐮𝐭!
𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐚𝐫𝐞 𝐮𝐧𝐜𝐞𝐫𝐭𝐚𝐢𝐧… 𝐛𝐮𝐭 𝐈 𝐣𝐮𝐬𝐭 𝐛𝐫𝐨𝐤𝐞 𝐝𝐨𝐰𝐧 𝟐 𝐒𝐆 𝐬𝐭𝐨𝐜𝐤𝐬 (𝐘𝐙𝐉 & 𝐒𝐆𝐗) 𝐬𝐡𝐨𝐰𝐢𝐧𝐠 𝐬𝐭𝐫𝐨𝐧𝐠 𝐬𝐞𝐭𝐮𝐩𝐬 𝐫𝐢𝐠𝐡𝐭 𝐧𝐨𝐰.

Jamie from Macquarie also shared how traders can potentially magnify their gains on these moves. 💪😉

🎥 Don’t miss it — watch here: https://www.youtube.com/watch?v=BLI9Ic6Oqos

$Frencken(E28.SI)pushes toward the 2.40 resistance level, and price has since followed through nicely. It is currently holding above 2.60 as a new higher support, with the immediate resistance at 2.80.

All 20d, 100d and 200d moving averages continue to slope up, keeping momentum aligned with the broader uptrend, with 3 consecutive 1GT Bullish signals remaining in play. 

If the price can break and close firmly above 2.80, the next upside target sits near 3.00. With strength holding after the breakout, could a clean push through 2.80 open the path toward 3.00 next?

$SGX(S68.SI)continue to show strength above 20.00 and the push toward the 21.00 resistance, as per previous note. Price has continued to follow through, and holding in the 21.00 support level. 

All 20d, 100d and 200d moving averages continue to slope up, keeping momentum aligned with the broader uptrend, with the 2 consecutive 1GT Bullish signal remains in play. 

If price can break and close firmly above 22.00, the next leg higher could unfold. With momentum still intact, could SGX clear 22.00 and extend the rally further?

@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/Lj_W1BLlxHY
$DBS(D05.SI) $OCBC Bank(O39.SI) $UOB(U11.SI)

https://youtu.be/Tuiy2Gq7pxo
$DBS(D05.SI) $UOB(U11.SI) $OCBC Bank(O39.SI) $SGX(S68.SI) $Singtel(Z74.SI)

https://www.youtube.com/live/cALWrd3H51E?s...
$DBS(D05.SI) $OCB5S(OCB5S.SI) $UOB(U11.SI) $SGX(S68.SI)

Technical Analysis (TA)

The chart shows a daily timeframe for $IFAST(AIY.SI), highlighting several bearish signals despite a long-term uptrend.

• Chart Pattern: A significant "Head & Multiple Shoulders" topping pattern has formed. The "Head" peaked near $11.00, while the most recent shoulder is lower, around the $10.02 resistance zone.


• Neckline & Support: The critical Neckline Support at $8.43 is currently the most important level to watch. A decisive break below this could signal a trend reversal.


• Moving Averages: The price is currently trading below the shorter-term moving averages (pink and blue lines), which are starting to curl downwards. However, it remains above the long-term 200-day Moving Average (green line) and the primary Ascending Trendline, suggesting the macro bull case isn't fully broken yet.


• Price Action: Today's price action shows a sharp gap down following the earnings news. At $9.03, it is currently testing the psychological $9.00 level.

Q1 2026 Earnings Summary

iFAST released its Q1 FY2026 results yesterday after market close. While the numbers were objectively strong, the market reaction today suggests some "sell on news" or concerns over future margins.

Key Financial Highlights

• Net Profit: $28 million, a massive +47.5% YoY increase (up from $19 million in Q1 2025).


• Revenue: Rose 49.4% to $136.8 million, driven heavily by the Hong Kong ePension business and core wealth management.


• AUA (Assets Under Administration): Reached a new record high of $32.6 billion (+27.1% YoY).


• Interim Dividend: Declared 2.5 cents per share (up from 1.6 cents in the previous year).

Strategic Outlook

• 2030 Vision: The group reaffirmed its target of $100 billion AUA by 2030, implying a 25.6% five-year CAGR.


• Global Expansion: Rebranding FSMOne to FSM Global as part of its "Truly Global Business Model" centered on Singapore, Hong Kong, and London.


• New Revenue Stream: The ORSO (Occupational Retirement Schemes Ordinance) pension business in Hong Kong is expected to start contributing significantly in 2H 2026.

Technical Analysis (TA)

The uploaded chart shows a daily timeframe for iFAST, highlighting several bearish signals despite a long-term uptrend.

• Chart Pattern: A significant "Head & Multiple Shoulders" topping pattern has formed. The "Head" peaked near $11.00, while the most recent shoulder is lower, around the $10.02 resistance zone.


• Neckline & Support: The critical Neckline Support at $8.43 is currently the most important level to watch. A decisive break below this could signal a trend reversal.


• Moving Averages: The price is currently trading below the shorter-term moving averages (pink and blue lines), which are starting to curl downwards. However, it remains above the long-term 200-day Moving Average (green line) and the primary Ascending Trendline, suggesting the macro bull case isn't fully broken yet.


• Price Action: Today's price action shows a sharp gap down following the earnings news. At $9.03, it is currently testing the psychological $9.00 level.

Q1 2026 Earnings Summary

iFAST released its Q1 FY2026 results yesterday after market close. While the numbers were objectively strong, the market reaction today suggests some "sell on news" or concerns over future margins.

Key Financial Highlights

• Net Profit: $28 million, a massive +47.5% YoY increase (up from $19 million in Q1 2025).


• Revenue: Rose 49.4% to $136.8 million, driven heavily by the Hong Kong ePension business and core wealth management.


• AUA (Assets Under Administration): Reached a new record high of $32.6 billion (+27.1% YoY).


• Interim Dividend: Declared 2.5 cents per share (up from 1.6 cents in the previous year).

Intrinsic Value Comparison (10 Years Horizon)

Strategic Outlook

• 2030 Vision: The group reaffirmed its target of $100 billion AUA by 2030, implying a 25.6% five-year CAGR.


• Global Expansion: Rebranding FSMOne to FSM Global as part of its "Truly Global Business Model" centered on Singapore, Hong Kong, and London.


• New Revenue Stream: The ORSO (Occupational Retirement Schemes Ordinance) pension business in Hong Kong is expected to start contributing significantly in 2H 2026.

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/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

‌Technical Analysis (TA): The "Rising Wedge" Dilemma

$Keppel DC Reit(AJBU.SI) 

The chart highlights a Rising Wedge pattern, a classic technical formation that often signals a potential trend reversal or consolidation.

1. Pattern & Price Action

• The Wedge: Price is currently trading within converging upward trendlines. While it looks bullish because it's making higher highs and higher lows, a rising wedge is traditionally a bearish reversal pattern in a mature uptrend.


• Key Resistance: The upper boundary of the wedge sits around $2.50 – $2.55. Price recently touched $2.38 (as of April 23, 2026), showing some resistance as it nears the upper rail.


• Immediate Support: Watch the lower trendline, currently around $2.25. A breakdown below this line with high volume could trigger a sell-off toward the $2.10–$2.15 zone.

2. Moving Averages (MA Cross)

• The chart shows a cluster of moving averages (20, 50, and 200-day).


• Bullish Alignment: The shorter-term averages (pink/blue) are trending above the long-term green line (likely the 200-day MA), which is currently at $2.28. As long as the price stays above this "Golden Zone," the medium-term trend remains healthy.

3. Momentum Indicators

• RSI: Recent data suggests the RSI is hovering near 70, indicating the stock is approaching "overbought" territory. Expect some "mean reversion" or sideways consolidation soon.

Fundamental Analysis (FA): Stellar 1Q26 Performance

While the technicals suggest caution due to the wedge pattern, the fundamentals are currently exceptionally strong.

1. 1Q2026 Financial Highlights

• DPU Growth: Distribution Per Unit (DPU) for 1Q26 grew by 13.2% YoY to 2.833 cents. This beat most analyst expectations.


• Rental Reversions: The standout metric is a +50.3% rental reversion. This indicates massive demand for data center space, allowing the REIT to hike rents significantly as old leases expire.


• Occupancy: Remains robust at 95.6%, underpinned by long-term leases (WALE of 6.5 years).

2. Balance Sheet & Valuation

• Gearing: Healthy at 35.1%, well below the regulatory limit, providing room for further acquisitions.


• Cost of Debt: Dropped to 2.6% (down 20bps), which is impressive in the current interest rate environment.


• Yield: At the current price of $2.38, the forward dividend yield is approximately 4.4% – 4.8%.

3. Risks & Catalysts

• Catalysts: Potential tax transparency for SGP 7 & 8 and the possible recovery of rent arrears from Bluesea (China) could provide further DPU upside.


• Risks: Geopolitical tensions in the Middle East affecting energy costs (though the manager notes electricity is <3% of OPEX due to hedging).

Bottom Line: Keppel DC REIT is firing on all cylinders operationally. However, the chart shows the "easy money" from the recent rally might be over extended. Look for entry points near the 200-day MA or the bottom of the wedge.

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/
‌
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

Had a fantastic deep dive yesterday with Michelle Martin on MONEY FM 89.3, discussing the shifting landscape of Singapore REITs. As we move further into 2026, the strategy for S-REITs has evolved from simple "yield-chasing" to a sophisticated hunt for Alpha and resilience.

‌

Here are the three core themes we covered:

‌

1. 𝐃𝐢𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐨𝐫 𝐃𝐢𝐥𝐮𝐭𝐢𝐨𝐧? 𝐓𝐡𝐞 𝐅𝐢𝐫𝐬𝐭 𝐑𝐄𝐈𝐓 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 🏥
🟢 $First Reit(AW9U.SI)'s S$471.5M divestment of Indonesian assets is a masterclass in "de-risking."
🟢The Reality: Despite revenue growth, the IDR depreciated ~28% against the SGD over 5 years.
🟢The Move: Crystallizing a 2.1% premium to valuation to build a massive "war chest" (gearing plunging to 16.7%).
🟢Takeaway: Not all sales are exits—this is a strategic recalibration toward stable, developed markets like Japan and Australia.

‌

2. 𝐓𝐡𝐞 𝐌𝐢𝐝-𝐂𝐚𝐩 𝐀𝐥𝐩𝐡𝐚 𝐇𝐮𝐧𝐭 💎
🟢While the "Giant" REITs offer safety, the iEdge Next50 REITs are where the growth is hiding.
🟢Growth Gap: Mid-caps are projected to deliver 4.2% DPU growth—nearly 2.5x higher than large-caps.
🟢Valuation Edge: Buying at a 10-20% discount to NAV while enjoying yields of 7% to 9.5%.
🟢The Catalyst: With MAS/SGX liquidity support (EQDP), we are anticipating a liquidity-driven re-rating as institutional money flows into these undervalued gems.

$Stoneweg EUTrust EUR(SET.SI) $Stoneweg EUTrust SGD(SEB.SI) $OUEREIT(TS0U.SI) $UIBREIT(UIBU.SI) $Sabana Reit(M1GU.SI) $EliteUKREIT GBP(MXNU.SI) $UtdHampshReitUSD(ODBU.SI) 

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3. 𝐂𝐚𝐩𝐢𝐭𝐚𝐋𝐚𝐧𝐝 𝐀𝐬𝐜𝐞𝐧𝐝𝐚𝐬 𝐑𝐄𝐈𝐓 (𝐂𝐋𝐀𝐑): 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 + 𝐎𝐟𝐟𝐞𝐧𝐬𝐞 🏗️
🟢 $CapLand Ascendas REIT(A17U.SI)'s S$900M Equity Fund Raising isn't about survival; it’s about dominance in the "New Economy."
🟢Pivot to High Demand: Funding Data Centres in Osaka and Science Parks in Singapore.
🟢Investor Opportunity: The preferential offering at S$2.35 (a ~7.5% discount) allows unitholders to average down at a level 2 standard deviations below its 5-year P/NAV average.

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Bottom Line: The S-REIT market is bifurcating. Whether you are playing the defensive blue-chip game or hunting for mid-cap Alpha, execution and asset quality are the only metrics that matter this year.

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Did you catch the live show? The podcast link can be found here 👇

https://reitsavvy.com/insights/money-and-m...

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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/
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Disclaimer: This analysis is for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investing involves risk. Please consult a licensed financial advisor to ensure any investment is suitable for your specific financial circumstances and risk profile.

First, congratulations to the winner and all participants — well deserved.

Even though this is a simulation, the market is real.
Every gap up, every pullback, every hesitation — you feel it.

That’s what makes this tournament different.
If you traded all 3 weeks following live prices, you’ve already gained something no textbook can teach.

+22.02% in 3 weeks — I’m satisfied.
It won't top any leaderboard, but every trade here mirrored my real money positions. Nothing was done differently just because it was a tournament. Same process, same rules, same discipline:

• Cut loss fast 

• Follow momentum 

• React, not predict 

• Stay disciplined

I trade for myself and my clients.

I’m a remisier and one of the top traders at Phillip Securities Singapore.

I joined this tournament for one reason:

👉 To show that steady, consistent profits come from simple rules, discipline, and risk management.

I hope this was useful to anyone following along. Trading doesn't have to be complicated. Have a plan, follow your rules, and respect your risk.

Thanks to InvestSG for putting this together. And to everyone who reached out during these 3 weeks — I appreciate the support. 

3-Week Summary:

7 profitable trades, 2 stop losses out of 9. 

Biggest winner: Wee Hur (+6.97%) 

Biggest loser: Baidu HK SDR (-3.62%)

🔹The two losses were small and controlled. 

Full Scorecard

Week 1: +9.28% 

Week 2: +9.68% 

Week 3: +1.8% 

Cumulative: +22.02%

9 trades across 6 sectors, 3 countries:

🇸🇬 Singapore 

$China Aviation(G92.SI) 

$Wilmar Intl(F34.SI) 

$IFAST(AIY.SI) 

$Wee Hur(E3B.SI) 

$OKP(5CF.SI) 

$YZJ Shipbldg SGD(BS6.SI) 

$Olam Group(VC2.SI) 

🇹🇭 Thailand 

$Delta TH SDR 1to1(TDED.SI) 

🇭🇰 Hong Kong 

$Baidu HK SDR 10to1(HBUD.SI) 

My simulation portfolio link: https://www.investsg.asia/portfolios/242567

📌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

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

The value unlock story in $Olam Group(VC2.SI) has just begun

Imagine a house valued at $182,000.

Then the owner sells just the garage — at a price far above its valuation.

Suddenly, the whole house is worth more… and there are still more rooms to sell.

That’s Olam today.

━━━━━━━━━━━━━━━━━━

Simple breakdown:

Olam is a global agri and food business long seen as “too complex.”

Management’s solution:

👉 break it up

👉 sell parts

👉unlock value

👉 return cash to shareholders

And they’re executing step by step.

━━━━━━━━━━━━━━━━━━

Starting point:

Latest NAV: ~182 cents per share (FY2025, audited)

━━━━━━━━━━━━━━━━━━

The key re-rating catalyst

Olam Agri sale to SALIC:

• ~3× book value

• Estimated gain: S$2.43B

👉 Adds ~63 cents per share

NAV moves:

182 → ~245 cents

From just ONE deal.

━━━━━━━━━━━━━━━━━━

More value unlocking ahead

🔹 ARISE — sold above book

🔹Mindsprint — retained

🔹Remaining assets — gradual divestment

🔹 ofi — potential listing (key upside)

Every sale above book = value unlocked

━━━━━━━━━━━━━━━━━━

Cash is flowing back

Since 2020:

• S$1.6B dividends

• S$81M buybacks

👉Future divestments likely returned via special dividends

━━━━━━━━━━━━━━━━━━

Why it matters now

Market still sees a complex conglomerate

But reality:

👉turning into a sum-of-parts story

🔹Current NAV: ~182 cents

🔹Post-Agri: ~245 cents (est.)

🔹Excludes full valuation of ofi

You’re not guessing.

You’re watching value unlock in real time.

━━━━━━━━━━━━━━━━━━

Technical View:

Olam has been in a long-term downtrend since Mar 2022 (peak ~1.94), but strong support at 0.81 held three times, forming a potential triple bottom. In the past two weeks, momentum picked up with real volume, and price broke the downtrend line — signalling a possible reversal. My General X system has also triggered a BUY signal on the weekly chart.

Next Target

🎯S$1.23

🎯S$1.94

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

🌟My Trade Action

Initiated position on 23 & 24 Apr

Entry: 1.02 – 1.03

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

I was recently interviewed by Lianhe Zaobao for their investment column on data centre investing. Here's a quick summary of my views:

① Pure-play data centre REITs ($Keppel DC Reit(AJBU.SI) $DigiCore Reit USD(DCRU.SI) $NTT DC REIT USD(NTDU.SI)) offer the most direct exposure to the AI and data centre theme.

② Mixed industrial REITs have lower volatility but may not fully capture the sector's upside.

③ Watch out for companies "riding the hype" — this sector is capital-intensive with high barriers. Firms with only indirect exposure are better as tactical, not core, holdings.

④ In Singapore, data centres require capabilities in power, cooling, connectivity and green certification — well beyond typical industrial development.

⑤ High migration costs give data centre leases stronger renewal resilience vs traditional real estate.

Happy to discuss how this fits into your portfolio. 

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

Full article linked below: https://www.zaobao.com.sg/finance/singapor...