Key Indices
Top Stories
Company Update | CapitaLand Integrated Commercial Trust (CICT SP/BUY/S$2.20/Target: S$3.06)
- The acquisition of Paragon was completed on 1 Jul 26 and will provide a full six-month contribution in 2H26. The AEI for Tampines Mall was completed in 3Q26, and new brands Chanel, Dior, Paris Baguette, Sephora and Yves Saint Laurent will progressively commence their leases in 2H26. CICT is expected to maintain positive reversions as upcoming office expiries remain below prevailing market rents. Maintain BUY. Target price: S$3.06.
Company Update | Keppel REIT (KREIT SP/BUY/S$0.785/Target: S$1.06)
- KREIT has agreed to acquire a 51% interest in Keppel South Central from Keppel Ltd for S$626.2m, equivalent to S$2,350psf and 3-4% below independent valuations. Keppel will provide a guaranteed monthly income of S$2.23m for a period of five years. The acquisition provides an initial net property yield of 4.3% and is accretive to DPU by 2%. Maintain BUY. Target price: S$1.06.
Market Spotlight
- US stocks were mixed on Tuesday. The Dow Jones and S&P 500 rose while the Nasdaq fell as the communication services and information technology sectors slid. There were more advancers than decliners on both the NASDAQ and NYSE.
- The FSSTI fell 7.98pt to 5,404.02, on the back of weakness in OCBC Bank and DBS, with both mid- and smallcap indices falling with a broad market decline on S$1.56b turnover.
Technical Analysis
Propnex (PROP SP)
Trading Sell Range: S$1.70-1.71
Frencken Group (FRKN SP)
Trading Sell Range: S$2.23-2.24
Top Stories
Company Update | CapitaLand Integrated Commercial Trust (CICT SP/BUY/S$2.20/Target: S$3.06)
- The acquisition of Paragon was completed on 1 Jul 26 and will provide a full six-month contribution in 2H26. The AEI for Tampines Mall was completed in 3Q26, and new brands Chanel, Dior, Paris Baguette, Sephora and Yves Saint Laurent will progressively commence their leases in 2H26. CICT is expected to maintain positive reversions as upcoming office expiries remain below prevailing market rents. Maintain BUY. Target price: S$3.06.
Company Update | Keppel REIT (KREIT SP/BUY/S$0.785/Target: S$1.06)
- KREIT has agreed to acquire a 51% interest in Keppel South Central from Keppel Ltd for S$626.2m, equivalent to S$2,350psf and 3-4% below independent valuations. Keppel will provide a guaranteed monthly income of S$2.23m for a period of five years. The acquisition provides an initial net property yield of 4.3% and is accretive to DPU by 2%. Maintain BUY. Target price: S$1.06.
Market Spotlight
- US stocks were mixed on Tuesday. The Dow Jones and S&P 500 rose while the Nasdaq fell as the communication services and information technology sectors slid. There were more advancers than decliners on both the NASDAQ and NYSE.
- The FSSTI fell 7.98pt to 5,404.02, on the back of weakness in OCBC Bank and DBS, with both mid- and smallcap indices falling with a broad market decline on S$1.56b turnover.
Technical Analysis
Propnex (PROP SP)
Trading Sell Range: S$1.70-1.71
Frencken Group (FRKN SP)
Trading Sell Range: S$2.23-2.24
Key Indices
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