Research

Equity Research

We provide independent and objective equity research coverage for sectors and companies listed on the SGX, with a niche in small and mid-cap companies. We believe in deep-dive analysis of a company’s fundamentals and the operating landscape, to help investors appraise its value and make sound investment decisions. Our aim is to enhance shareholders’ value for the companies.
Report Title
29 Nov 23 – Grand Banks Yachts Ltd: Expanded Capacities and Diversification of Revenue Streams
23 Nov 23 – Hyphens Pharma International Ltd: 3Q23 Business Updates
9 Nov 23 – Soilbuild Construction Group Limited: Post-COVID Triumph: 1H23 marks an inflection?
23 Oct 23 – Hyphens Pharma International Ltd: Pursuing Growth Through Full Acquisition of Ardence Pharma (BUY TP: S$0.33)
25 Aug 23 – KTMG Limited: Seizing Athleisure Demand
18 Aug 23 – Hyphens Pharma International Ltd: Navigating Challenges Amidst Ongoing Improvements
9 Aug 23 – TOTM Technologies Ltd: Awaiting contract wins
4 Aug 23 – SG Weekly (24 Jul – 28 Jul 23)
4 Aug 23 – First REIT: Embracing fixed JPY loan for stability and potential higher rent escalation (BUY TP: S$0.295)
27 Jul 23 – SG Weekly (17 Jul – 21 Jul 23)
21 Jul 23– SG Weekly (10 Jul – 14 Jul 23)
4 July 23 – Uni-Asia Group Limited: On track for an inflection (BUY TP:S$1.20)
27 Jun – SG Weekly (19 Jun – 23 Jun 23)
21 Jun – SG Weekly (12 Jun – 16 Jun 23)
15 Jun 23 – SG Weekly (5 Jun – 9 Jun 23)
6 Jun 23 – SG Weekly (29 May – 2 Jun 23)
1 Jun 23 – Jumbo Group Ltd: Exceeds expectations with yet returning Chinese (BUY TP: S$0.43)
26 May 23 – SG Weekly (22 May – 26 May 2023)
26 May 23- Aspial Lifestyle Limited (Non-Rated): Expanding to Malaysia
25 May 23 – Hyphens Pharma International Ltd: Beyond the shores (BUY TP: S$0.34)
19 May 23 – SG Weekly (15 May – 19 May 2023)
12 May 23 – SG Weekly (8 May – 12 May 2023)
5 May 23 – SG Weekly (1 May – 5 May 2023)
26 Apr 23 – First REIT: Steering a steadier ship (BUY TP: S$0.30)
26 Apr 23 – SG Weekly (20 Apr – 26 Apr 2023)
20 Apr 23 – Uni-Asia Group Limited: Resilient business amid tough times (BUY TP: S$1.20)
13 Apr 23 – SG Weekly (5 Apr – 13 Apr 2023)
13 Apr 23 – SG Weekly (5 Apr – 13 Apr 2023)
4 Apr 23 – SG Weekly (29 Mar – 3 Apr 2023)
31 Mar 23 – First REIT: Sustainable DPU with improved risk profile (BUY TP: S$0.30)