John Cheong
Head of Small and Mid Cap Research, UOB Kay Hian
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Singapore’s small and mid-cap (SMID) stocks have faced a challenging month, with subdued sentiment and selective investor participation weighing on share prices despite resilient business fundamentals in our preferred names. While the benefits of the Equity Market Development Programme (EQDP) will take time to filter through, further fund allocations and measures to improve trading liquidity provide potential catalysts for renewed interest in the segment. Against this backdrop, we believe the recent weakness offers opportunities to identify quality companies with visible earnings drivers and attractive valuations.
Join us this November as we revisit our SMID cap selections. Our key picks remain unchanged, supported by sustained offshore and FPSO activity, a growing renewable energy and sustainable aviation fuel pipeline, AI-driven cleanroom demand, and consumer growth opportunities across key regional markets. We continue to see strong business fundamentals and compelling value in these names, positioning them well to benefit from a recovery in the broader SMID cap market as investor confidence and liquidity improve.
John Cheong is Head of Small Mid Cap Research at UOB Kay Hian, where he manages a team of three analysts covering Singapore listed small, mid and large cap companies, as well as selected US stocks. He has over 15 years of experience in equity research and corporate finance across UOB Kay Hian and Maybank.
Head of Small and Mid Cap Research, UOB Kay Hian