External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

External broker reports(aggregated public sources)

KGI Securities Singapore

We are a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. 

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Equity Bottom-Up

OUE Commercial Real Estate Investment Trust (“OUE C-REIT”) is one of the largest diversified Singapore REITs (“S-REITs”) with total assets of S$6.0 billion as at 31 December 2022. With seven properties across the commercial and hospitality segments in Singapore and Shanghai, the property portfolio comprises more than 2.1 million square feet of prime office and retail space, and 1,643 upper upscale hotel rooms.

OUE C-REIT invests in income-producing real estate used primarily for commercial purposes (including real estate used primarily for office and/or retail purposes) in financial and business hubs, hospitality and/or hospitality-related purposes, as well as real estate-related assets.

<ul><li>1H24 performance exceeded expectations.</li><li>For 1H24, OUE REIT delivered revenue of S$146.7 mn, representing a 5.7% YoY increase from S$138.8 mn in 1H23.</li><li>Net property income rose by 1.6% YoY to S$117.1 mn, up from S$115.3 mn in the previous year.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

1H24 performance exceeded expectations.For 1H24, OUE REIT delivered revenue of S$146.7 mn, representing a 5.7% YoY increase from S$138.8 mn in 1H23.Net property income rose by 1.6% YoY to S$117.1 mn, up from S$115.3 mn in the previous year.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Oue Reit - Maximising Singapore Assets Performance

United Hampshire US REIT / Equity Bottom-Up

United Hampshire US REIT operates as a real estate investment trust. The Company owns and operates shopping, storage, grocery, and necessity-based retail properties.

<ul><li>Optimism surrounding US Federal Interest rate cuts in 2H24. Following recent inflationary data in June , the market anticipates a potential 25 basis points rate cut in September 2024.</li><li>These expected rate reductions are poised to benefit United Hampshire US REIT by lowering borrowing costs, enhancing financial flexibility , and potentially attracting higher investor interest.</li><li>This favourable interest rate environment aligns with the REIT's growth strategy, positioning it for increased profitability and value creation in the upcoming quarters.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Optimism surrounding US Federal Interest rate cuts in 2H24. Following recent inflationary data in June , the market anticipates a potential 25 basis points rate cut in September 2024.These expected rate reductions are poised to benefit United Hampshire US REIT by lowering borrowing costs, enhancing financial flexibility , and potentially attracting higher investor interest.This favourable interest rate environment aligns with the REIT's growth strategy, positioning it for increased profitability and value creation in the upcoming quarters.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United Hampshire US REIT - Tailwinds from the Potential Soft-Landing of US Economy

<ul><li>Increased topline growth and stable occupancy surpassing pre-pandemic levels. For 1Q24, OUE REIT reported revenue of S$74.9mn, a 9.5% YoY growth.</li><li>It delivered net property income of S$60.5mn, a 6.9% YoY growth.</li><li>It also secured positive rental reversion of 12.6% in its Singapore offices and achieved high committed occupancy of 97.6% in Mandrin Gallery, showcasing its stability and competitiveness in the market.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Increased topline growth and stable occupancy surpassing pre-pandemic levels. For 1Q24, OUE REIT reported revenue of S$74.9mn, a 9.5% YoY growth.It delivered net property income of S$60.5mn, a 6.9% YoY growth.It also secured positive rental reversion of 12.6% in its Singapore offices and achieved high committed occupancy of 97.6% in Mandrin Gallery, showcasing its stability and competitiveness in the market.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Oue Reit - Resilience Amidst Challenging Market Conditions

Q & M Dental Group (Singapore) / Equity Bottom-Up

Q & M Dental Group (Singapore) Limited operates dental clinics. The Company offers aesthetic, children's and general dentistry; fits crowns, dentures and braces; and offers bleeding gum treatment, gum surgery and oral surgery; and treats snoring and teeth grinding.

<ul><li>Focusing on organic growth. Amidst a saturated dental market in Singapore, Q &amp; M Dental Group is shifting its stance to focusing on organic growth to increas e the efficiency and effectiveness of its business process in each clinic.</li><li>The company has rolled out several new technological initiatives, such as a new dental mobile application and the integration of new dental technologies.</li><li>Integration of new technology. Q &amp; M Dental Group recently announced the integration of Align Technology’s latest iTero Lumina Intraoral Scanner across its dental clinics in Singapore .</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Focusing on organic growth. Amidst a saturated dental market in Singapore, Q &amp; M Dental Group is shifting its stance to focusing on organic growth to increas e the efficiency and effectiveness of its business process in each clinic.The company has rolled out several new technological initiatives, such as a new dental mobile application and the integration of new dental technologies.Integration of new technology. Q &amp; M Dental Group recently announced the integration of Align Technology’s latest iTero Lumina Intraoral Scanner across its dental clinics in Singapore .Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q & M Dental Group (QNM SP) - Focusing on Organic Growth

Winking Studios Limited operates as a game art outsourcing studio. The Company provides complete end-to-end art outsourcing and game development services across various platforms for the video games industry. Winking Studios serves customers worldwide.

<ul><li>Inorganic growth strategy . Winking Studios Limited embarked on an inorganic growth strategy to bolster its sales volume.</li><li>This initiative culminated in the full acquisition of On Point Creative Co., Ltd. on 1 April 2024.</li><li>Aligned with the company's expansion objectives, this strategic move not only secure s two additional global game publishers as clients but also promises to amplify its top-line growth trajectory</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Inorganic growth strategy . Winking Studios Limited embarked on an inorganic growth strategy to bolster its sales volume.This initiative culminated in the full acquisition of On Point Creative Co., Ltd. on 1 April 2024.Aligned with the company's expansion objectives, this strategic move not only secure s two additional global game publishers as clients but also promises to amplify its top-line growth trajectoryContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Winking Studios Limited - Visualising the Future of Gaming