Research Reports

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Presentation with Singapore Medical Group
In Singapore, SMG has solidified its presence as a leading healthcare provider, with four main pillars, namely Aesthetics, Diagnostic Imaging & Screening, Oncology and Women’s and Children’s Health.
Presentation with Alliance Healthcare Group Limited
Founded in 1994, Alliance Healthcare Group’s business comprises five key segments: managed healthcare solutions, GP clinics services, specialist care services, pharmaceutical services and mobile and digital health services.
Lunch Presentation with UG Healthcare
UG Healthcare manufactures and distributes gloves under its proprietary "Unigloves" brand.
Lunch Presentation with Hyphens Pharma International Limited
Hyphens Pharma International Limited and its subsidiaries (the "Group") is Singapore’s leading specialty pharmaceutical and consumer healthcare group leveraging on its diverse footprint in ASEAN countries.
Presentation with Sasseur REIT
Sasseur REIT offers investors the unique opportunity to invest in the fast-growing retail outlet mall sector in China, with an upside linked component tied to 4.0-5.5% of the total sales of its four outlet malls.
Presentation with Yoma Strategic Holding
Yoma Strategic Holdings Ltd. is a leading business corporation with a diversified portfolio of businesses in Real Estate, Consumer, Automotive & Heavy Equipment, Financial Services and Investments in Myanmar.
Presentation with ARA US Hospitality Trust
ARA US Hospitality Trust (ARA) is a pure-play U.S. hospitality REIT, with a portfolio of 38 Hyatt-branded and 3 Marriott-branded upscale select-service hotels.
Presentation with Elite Commercial REIT
Elite Commercial REIT is the first UK-focused S-REIT, with over 99% of its 97 commercial properties triple-net-leased to the UK Government.
Presentation with CapitaLand Retail China Trust
CapitaLand Retail China Trust (CRCT SP) is Singapore's largest China-focused retail REIT, owning a portfolio of 14 shopping malls located across nine cities in China.
Presentation with AEM Holdings
AEM Holdings (AEM SP) produces semiconductor test equipment for a major US-listed semiconductor company and is currently one of the best performers amongst tech manufacturers in SGX.
Presentation with Frasers Centrepoint Trust
Frasers Centrepoint Trust (FCT SP) owns 7 suburban retail malls in Singapore totalling 1.4mn sqft of net lettable area (NLA).
Lunch Presentation with Q & M Dental Group (Singapore) Limited
Q&M Group (QNM SP) is a leading private dental healthcare group in Asia, with a total of 77 dental and 4 medical outlets in Singapore, 27 dental outlets in Malaysia, and 1 dental outlet in China.
Lunch Presentation with HRnetGroup
HRnetGroup (HRNET SP) is the largest Asia-based recruitment agency in Asia (ex Japan)
Lunch Presentation with NetLink NBN Trust
NetLink NBN Trust (NETLINK SP) is one of the most defensive company in the telecommunications sector, yet still offers growth potential from StarHub’s migration to fibre and participation in Singapore’s Smart Nation initiatives.
Lunch Presentation with Cromwell European REIT (CERT SP)
Cromwell European REIT (CERT SP) owns a portfolio of 97 primarily freehold properties in Denmark, Finland, France, Germany, Italy, the Netherlands and Poland.
Lunch Presentation with China Aviation Oil Singapore Corp Limited (CAO SP)
China Aviation Oil (Singapore) Corporation Ltd (CAO SP) is the largest physical jet fuel trader in the Asia Pacific region and the key supplier of imported jet fuel to China's civil aviation industry.
Lunch Presentation with BRC Asia Limited (BRC)
BRC (BRC SP) is the market leader in steel reinforcement solutions in Singapore.
Lunch Presentation with Singapore O&G Limited (SOG SP)
Singapore O&G (SOG SP) provides specialist medical and surgical services for women and children in Singapore.
Lunch Presentation with JB Foods (JBF SP)
JB Foods (JBF SP) is the second largest cocoa processor in Malaysia and tenth largest in the world.
Lunch Presentation with Centurion Corporation Limited (CENT SP)
Centurion develops, owns and manages purpose-built worker accommodations in Singapore and Malaysia.
Lunch Presentation with Sasseur REIT (SASSR SP)
Sasseur REIT is the first outlet mall REIT to be listed in Asia.
Lunch Presentation with Sunpower Group Limited (SPWG SP)
Sunpower Group (5GD SP) is a China based company providing energy-saving solutions, waste heat recovery, and clean steam.
Lunch Presentation with Clearbridge Health Limited (CBH SP)
Clearbridge Health (CBH SP) is an integrated healthcare group with a focus on delivery of precision medicine.
Lunch Presentation with Kingsmen Creative
Established in 1976 and listed on the Mainboard of the Singapore Exchange since 2003, Kingsmen is a leading communication design and production group.
Lunch Presentation with EC World
ECworld REIT is a logistics and e-commerce REIT with a geographical focus in the People’s Republic of China (PRC), EC World has seven properties under its portfolio: six are in Hangzhou, while another – acquired on Apr 2018 – is located in Wuhan.
Lunch Presentation with Best World
Best World (BEST SP) specialises in the development and distribution of premium skincare products. Its flagship brand, DR’s Secret, is distributed across 13 regional centres, 29 lifestyle centres and 33 franchisees in Asia.
Lunch Presentation with Civmec
Civmec (CVL SP) is a Australian-based heavy engineering construction company with major contracts in the energy, minerals, infrastructure and defence sectors.

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KGI Singapore Ideas - 12 October 2020
KGI Singapore Ideas (9988 HK, Fixed Income, REITs)
KGI Singapore Ideas - 5 October 2020
KGI Singapore Ideas
KGI Singapore Ideas - 28 September 2020
KGI Singapore Ideas
KGI Singapore Ideas - 21 September 2020
KGI Singapore Ideas
KGI Singapore Ideas - 14 September 2020
KGI Singapore Ideas
KGI Singapore Ideas - 7 September 2020
KGI Singapore Ideas
KGI Singapore Weekly Top Ideas - 31 August 2020
KGI Trading Ideas - Our picks this week (Avarga, ISDN)
KGI Singapore Weekly Top Ideas - 24 August 2020
KGI Trading Ideas - Our picks this week (ISDN, Jiutian Chemical)
KGI Singapore Weekly Top Ideas - 17 August 2020
KGI Trading Ideas - Our picks this week (GOLD & SILVER, FRENCKEN, SUNPOWER)
KGI Market Strategy - 13 March 2020 (Chinese Version)
KGI Market Strategy: Crude oil: Price war - Optimal strategy under the prisoners’ dilemma
KGI Trading Ideas - 10 March 2020
KGI Trading Ideas - Singapore banks: Overshooting on the downside
KGI Singapore Weekly Summary - 9 March 2020
KGI Market Ideas: KGI Market Strategy: Perfect Storm – Encountering black swans and grey rhinos (PART ONE) / KGI Market Strategy / KGI Trading Ideas / Our Feb Flashback / Sunpower Grp
KGI Singapore Weekly Summary - 24 February 2020
KGI Market Ideas: Market Strategy / KGI Market Strategy / ARA US Hospitality Trust / ComfortDelGro Corp / Eagle Hospitality Trust / Thai Beverage PCL
KGI Weekly Summary - 18 February 2020
KGI Market Ideas: Singapore Budget 2020 / Hospitality & Transport stocks to watch / Two Different Worlds: Part Two / KGI Market Strategy / CapitaLand Retail China Trust
KGI Monday Summary - 10 February 2020
KGI Market Ideas / Market Strategy / Our January Note / Manulife US REIT
KGI Monday Summary - 3 February 2020
KGI Market Ideas: Impact of coronavirus on financial markets / SARS vs current outbreak / Base-case recommendation – Engage stocks on weakness after February / Soilbuild Business Space REIT
KGI Monday Summary - 20 January 2020
KGI Market Ideas: Phase One trade deal done, what’s next? / Quiet week ahead / First Singapore IPO this year…is a REIT / AEM Holdings
KGI Monday Summary - 14 January 2020
KGI Market Ideas: 2020 Outlook / STI Review and outlook / Precious metals and oil / KGI Securities 2020 Outlook
KGI Monday Summary - 9 December 2019
KGI Market Ideas: Sunpower Grp / UK Elections, ComfortDelGro / Accordia Golf Trust / Sunpower Group
KGI Monday Summary - 2 December 2019
KGI Market Ideas: Nov Monthly Recap / Procurri Corp / Accordia Golf Trust / Market Strategy / Our Nov Summary / ComfortDelGro Corp / EC World REIT
KGI Monday Summary - 18 November 2019
KGI Market Ideas: Coverage Summary / Thematic report / Frencken Grp / Automobile Industry Report Part 2 / Accordia Golf Trust / China Sunsine Chemical / Eagle Hospitality Trust / Frencken Grp / IFS Capital / Japan Foods Hldg
KGI Monday Summary - 11 November 2019
KGI Market Ideas: Oct Monthly Recap / Oil & Gas plays / Frencken Grp / Our Oct Summary / Automobile Industry Report Part 1 / KGI Trading Ideas / ARA US Hospitality Trust / CSE Global / Frencken Grp
KGI Monday Summary - 4 November 2019
KGI Market Ideas: AEM Hldgs, China Sunsine Chemical and Next opportunities within Temasek’s portfolio / Natural Gas / AEM Hldgs / CapitaLand Retail China Trust / Eagle Hospitality Trust / Sheng Siong Grp
KGI Monday Summary - 21 October 2019
KGI Market Ideas: AEM Hldgs and China Sunsine Chemical / Singapore Property in Play / Precious Metal / Keppel Corporation / Keppel DC REIT / Soilbuild Business Space REIT
KGI Monday Summary - 14 October 2019
KGI Market Ideas: Risk-on until the next tweet / AEM Hldgs / China Sunsine Chemical Hldgs / KGI Weekly Strategy / AEM Hldgs / China Sunsine Chemical Hldgs / First REIT
KGI Monday Summary - 30 September 2019
KGI Market Ideas / Geo Energy Resources / Uni-Asia Group
KGI Morning Buzz - 24 September 2019
KGI Market Ideas: Oil prices, Largan / Crude oil / Keppel DC REIT / Manulife US REIT
KGI Morning Buzz - 17 September 2019
KGI Market Ideas: Gold and silver, Oil Prices, Technology / Precious Metals / CSE Global / Frencken Group
KGI Morning Buzz - 9 September 2019
KGI Market Ideas: Gold and silver, CSE Global / Our August Archive
KGI Morning Buzz - 2 September 2019
KGI Market Ideas: Frencken Group, Sembcorp Marine / Geo Energy Resources
KGI Morning Buzz - 27 August 2019
KGI Market Ideas: Great Spore Sale, Accordia Golf Trust, Frencken Grp / Frencken Grp, IFS Capital
KGI Morning Buzz - 20 August 2019
KGI Market Ideas: Great Spore Sale, Sembcorp Industries, Thaibev, PropNex / Accordia Golf Trust / ComfortDelGro Corp / Manulife US REIT / Thai Beverage PCL
KGI Morning Buzz - 13 August 2019
KGI Market Ideas: Spore Equity Markets, SGX, China Sunsine, Koufu / KGI Trading Ideas
KGI Morning Buzz - 6 August 2019
KGI Market Ideas / KGI Trading Ideas / CapitaLand Retail China Trust / Sembcorp Marine / Sheng Siong Grp
KGI Morning Buzz - 30 July 2019
KGI Market Ideas: First US rate cut since 2008, TSMC, Chasen Hldgs / Frasers Centrepoint Trust
KGI Morning Buzz - 23 July 2019
KGI Market Ideas: TSMC, Singapore Equity Markets / KGI High Dividend Watchlist / Keppel Corporation / Keppel DC REIT / Soilbuild Business Space REIT
KGI Morning Buzz - 16 July 2019
KGI Market Ideas: Koufu Grp / ComfortDelGro Corp / Utd Engineers
KGI Morning Buzz - 9 July 2019
KGI Market Ideas / KGI High Dividend Watchlist
KGI Morning Buzz - 2 July 2019
KGI Market Ideas / TEE International
KGI Morning Buzz - 25 June 2019
KGI Market Ideas / Frasers Centrepoint Trust
KGI Morning Buzz - 18 June 2019
KGI Market Ideas / Market Strategy
KGI Morning Buzz - 11 June 2019
KGI Market Ideas: Spore Strategy / Dividend plays / China markets
KGI Morning Buzz - 4 June 2019
KGI Market Ideas / Accordia Golf Trust / Centurion Corporation
KGI Morning Buzz - 28 May 2019
KGI Market Ideas: Eagle Hospitality Trust / Tee International / Singapore Airlines
KGI Morning Buzz - 21 May 2019
KGI Market Ideas / ComfortDelgro Corp / CSE Global / Uni-Asia Grp
KGI Morning Buzz - 14 May 2019
KGI Market Ideas / Frencken Group / Thai Beverage PCL
KGI Morning Buzz - 7 May 2019
KGI Market Ideas: Sembcorp Marine / DBS Grp Hldgs / JB Foods / Sembcorp Marine
KGI Morning Buzz - 2 May 2019
KGI Market Ideas: Venture Corp, Procurri Corp, US markets, KGI Market Strategy / Keppel DC REIT / Manulife US REIT / Sheng Siong Group / INDON 3.75%
KGI Morning Buzz - 17 April 2019
KGI Market Ideas: Sembcorp Marine, Accordia Golf Trust, KGI Market Strategy / REIThinking Your Strategy / PHILIP 9.5%
KGI Morning Buzz - 9 April 2019
KGI Market Ideas / Accordia Golf Trust / Keppel DC REIT / Uni-Asia Group
KGI Morning Buzz - 2 April 2019
KGI Market Ideas / Sasseur REIT / CPDEV 3.875%
KGI Morning Buzz - 26 March 2019
KGI Market Ideas / Uni-Asia Grp / Geo Energy Resources / SUNOTG 3.75%
KGI Morning Buzz - 21 March 2019
KGI Market Ideas / CapitaLand Retail China Trust / Uni-Asia Group / CENCHI 6.25%
KGI Morning Buzz - 12 March 2019
KGI Market Ideas / China Sunsine Chemical Hldgs / Frencken Grp / Kingsmen Creatives / Raffles Medical Grp / Momo Inc / COGARD 4.75% / Tesla 5.3%
KGI Morning Buzz - 5 March 2019
KGI Market Ideas / Best World Int'l / CSE Global / Sim Leisure Grp / Sheng Siong Grp / LBBW 3.75%
KGI Morning Buzz - 26 February 2019
KGI Market Ideas / SingTel (ST SP), StarHub (STH), M1 (M1 SP) / REIThinking your strategy / DBS Grp Hldgs / Sembcorp Marine / STANLN 4.4%
KGI Morning Buzz - 19 February 2019
KGI Market Ideas / ANZ 3.75% / Accordia Golf Trust / ComfortDelGro Corp / DISA / Thai Beverage
KGI Morning Buzz - 12 February 2019
KGI Market Ideas / KGI REITs Watchlist / ABNANV 4.75% 04/01/26 / BPCE 4.5% 06/03/26 / Japan Foods Holding / JB Foods
KGI Morning Buzz - 29 January 2019
KGI Market Ideas / KGI Tactical Ideas – US Luxury Sector / KGI Monthly Observations / Singtel 3.4875% 04/08/20 / Keppel Corporation / Tuan Sing Holdings)
KGI Morning Buzz - 22 January 2019
KGI Market Ideas / REIThinking your strategy / CSE Global / SIASP 3.22% 07/09/20 / Sembcorp Marine
KGI Morning Buzz - 15 January 2019
KGI Market Ideas / S-REITs Outlook 2019 / Tactical Play / Accordia Golf Trust / CapitaLand 1.85% 06/19/20 / IFS Capital
KGI Morning Buzz - 18 December 2018
KGI Market Ideas / Market Strategy
KGI Morning Buzz - 11 December 2018
KGI Market Ideas / REITs portfolio / Thai Beverage PCL
KGI Morning Buzz - 4 December 2018
KGI Market Ideas / REITs portfolio / Market Strategy / Geo Energy Resources
KGI Morning Buzz - 27 November 2018
KGI Market Ideas / REITs portfolio / REITs Watchlist
KGI Morning Buzz - 20 November 2018
KGI Market Ideas / Thai Beverage / Sembcorp Marine / REITs portfolio / Accordia Golf Trust / Alliance Mineral Assets / CNMC Goldmine Hldgs
KGI Morning Buzz - 13 November 2018
KGI Market Ideas / Thai Beverage / ComfortDelGro / Japan Foods Holding / MindChamps
KGI Morning Buzz - 30 October 2018
KGI Market Ideas / Thai Beverage / ComfortDelGro / REITs portfolio / EC World REIT
KGI Morning Buzz - 23 October 2018
KGI Market Ideas / Thai Beverage / Sheng Siong / IFS Capital
KGI Morning Buzz - 16 October 2018
KGI Market Ideas / Thai Beverage / ComfortDelGro / REITs portfolio
KGI Morning Buzz - 9 October 2018
KGI Market Ideas / Thai Beverage / CSE Global
KGI Morning Buzz - 2 October 2018
KGI Market Ideas / Thai Beverage / Sheng Siong / Creative Technology / Keppel Corporation / StarHub
KGI Morning Buzz - 18 September 2018
KGI Market Ideas / Thai Beverage / Sheng Siong / SingTel / REITs Watchlist
KGI Morning Buzz - 4 September 2018
KGI Market Ideas / OCBC / DISA / Momo Inc / Frasers Centrepoint Trust
KGI Morning Buzz - 28 August 2018
KGI Market Ideas / KGI Global Strategy - US equities still have the best fundamentals / CSE Global
KGI Morning Buzz - 21 August 2018
KGI Market Ideas / MindChamps / Cityneon / Accordia Gulf Trust / Japan Foods Holding
KGI Morning Buzz - 14 August 2018
KGI Market Ideas / ComfortDelgro / Manulife US REIT / MindChamps Preschool
KGI Morning Buzz - 7 August 2018
KGI Market Ideas / Sembcorp Industries / NetLink NBN Trust
Morning Buzz - 31 July 2018
KGI Market Ideas / Sheng Siong / Accordia Golf Trust
Morning Buzz - 24 July 2018
KGI Market Ideas / Singtel / Raffles Medical Grp / Mapletree Industrial Trust
Morning Buzz - 17 July 2018
KGI Market Ideas / Singtel / ST Engrg / Frasers Centrepoint Trust
Morning Buzz - 10 July 2018
KGI Market Ideas / UOL GROUP / MOMO INC / S-REITS
Morning Buzz - 3 July 2018
KGI Market Ideas / CNMC / MOMO INC / CNMC Goldmine Holdings
Morning Buzz - 26 June 2018
KGI Market Ideas / Yangzijiang / ThaiBev / Venture Corp / Sembcorp Industries / Keppel Corp / Singtel / Spore Strategy / Disa / Xiaomi
Morning Buzz - 19 June 2018
KGI Market Ideas / MOMO Inc / APAC Realty
Morning Buzz - 12 June 2018
KGI Market Ideas / Japfa / TSMC / Addvalue Technologies / Momo Inc
Morning Buzz - 6 June 2018
KGI Market Ideas / Yangzijiang / Accordia Golf Trust / Geo Energy Resources / Sasseur REIT / Uni-Asia Group
Morning Buzz - 22 May 2018
KGI Market Ideas / Sembcorp Marine / Uni-Asia Group / BAIDU / REITs Watchlist / Cityneon Holdings / Japan Foods Holding
Morning Buzz - 15 May 2018
KGI Market Ideas / ComfortDelGro / Genting Singapore / Cityneon / ayondo / ComfortDelGro Corporation / MindChamps Preschool
Morning Buzz - 8 May 2018
KGI Market Ideas / KGI Marco View / Oil / Kep Corp / SembMarine / Mermaid Maritime / CSE Global
Morning Buzz - 8 May 2018
KGI Market Ideas / UOL GROUP / MOMO INC / S-REITS
Morning Buzz - 2 May 2018
KGI Market Ideas / DBS / Valuetronics / SPH REIT / ComfortDelGro Corporation / Ezion Holdings
Morning Buzz - 24 Apr 2018
KGI Market Ideas / Spore Strategy / Accordia Golf Trust / Keppel Corporaiton / Manulife US REIT
Morning Buzz - 17 Apr 2018
KGI Market Ideas / Manulife US REIT / Facebook / Sheng Siong
Morning Buzz - 11 Apr 2018
KGI Market Ideas / Sing Hldgs / Genting Spore / MindChamps / Jiutian Chemical Grp / MindChamps Preschool / Sing Holdings
Morning Buzz - 3 Apr 2018
KGI Market Ideas / Short Oil / HRnetGroup / Jumbo Group
Morning Buzz - 29 March 2018
KGI Market Ideas / ST Engineering (ST) / Galaxy Entertainment / Tencent
Morning Buzz - 20 March 2018
KGI Market Ideas / Keppel DC REIT / GBPUSD / ComfortDelGro
Morning Buzz - 19 March 2018
Market Colour / Oil prices
Morning Buzz - 16 March 2018
Market Colour / Yanlord / Oxley Hldgs
Morning Buzz - 15 March 2018
Market Colour / Keppel DC REIT / Oxley Hldgs
Morning Buzz - 14 March 2018
Market Colour / Singapore property
Morning Buzz - 13 March 2018
Market Colour / ST Engrg / SGX / JEP Hldgs
Morning Buzz - 12 March 2018
Market Colour / Keppel Corp / Cityneon
Morning Buzz - 9 March 2018
Market Colour / Jardine Matheson / Dairy Farm
Morning Buzz - 8 March 2018
Market Colour / Frencken Group / CSE Global / Creative Technologies / TTJ Hldgs / SIA
Morning Buzz - 7 March 2018
Market Colour / SUTL / Nordic Group
Morning Buzz - 6 March 2018
Market Colour
Morning Buzz - 5 March 2018
Market Colour / Cityneon Holdings / AEM / Uni-Asia Grp / Geo Energy
Morning Buzz - 2 March 2018
Market Colour / Jardine C&C / Yongnam / Wee Hur / Japfa
Morning Buzz - 1 March 2018
Market Colour / Yangzijiang / Venture
Morning Buzz - 28 February 2018
Market Colour / Cityneon / Hyflux
Morning Buzz - 27 February 2018
Market Colour / Sembcorp Marine / CSE Global / Raffles Medical
Morning Buzz - 26 February 2018
Market Colour / Frencken Group / Notable insider trades / ComfortDelGro
Morning Buzz - 23 February 2018
Market Colour / ST Engineering / Sembcorp Industries / Frencken / Wilmar Int'l / OUE / Sheng Siong
Morning Buzz - 22 February 2018
Market Colour / Offshore & Marine / Trendlines Grp / BreadTalk / Sembcorp Marine
Morning Buzz - 21 February 2018
Market Colour / Manulife US REIT / Posh Offshore Services Hldgs / TalkMed
Morning Buzz - 20 February 2018
Market Colour / Singapore Budget / Noble Grp
Morning Buzz - 19 February 2018
Market Colour / Mindchamps / SGX
Morning Buzz - 15 February 2018
Market Colour / Creative Technology / Far East Hospitality Trust / Thai Beverage / Jumbo / SIA
Morning Buzz - 14 February 2018
Market Colour / OCBC / UOB / Hi-P Int'l / Lippo Malls (Lippo) / RHT Health Trust
Morning Buzz - 13 February 2018
KGI Strategy / Singapore Strategy / Japan Foods Holding / Notable earnings this week
Morning Buzz - 12 February 2018
Market Colour / Notable earnings this week
Morning Buzz - 8 February 2018
Market Colour / Singapore Telecom / DBS
Morning Buzz - 7 February 2018
Market Colour
Morning Buzz - 6 February 2018
Market Colour / HPH Trust / FJ Benjamin / Netlink NBN Trust / SIA Engrg
Morning Buzz - 5 February 2018
Market Colour / HPH Trust / QT Vascular / Oil and Gas
Morning Buzz - 2 February 2018
Market Colour / GuocoLand / Ascendas Hospitality Trust / AA REIT
Morning Buzz - 1 February 2018
Market Colour / OUE Commercial REIT / Marco Polo Marine / Ezion Hldgs / Notable earnings / AEM Hldgs
Morning Buzz - 31 January 2018
Market Colour / CapitaLand Retail China Trust / OUE Hospitality Trust / QT Vascular
Morning Buzz - 30 January 2018
Market Colour / Noble Grp / Ascendas Hospitality Trust (AHT) / ST Engineering, SingTel / Ascendas India Trust
Morning Buzz - 29 January 2018
Market Colour / Micro-Mechanics Hldgs / City Devpt / CDL Hospitality Trust / Parkway Life REIT / Viva Industrial Trust
Morning Buzz - 26 January 2018
Market Colour / Noble Grp / Keppel Corp / Alliance Mineral / Genting Spore
Morning Buzz - 25 January 2018
Market Colour / Halcyon Agri Corporation / ComfortDelGro / CapitaLand Commercial Trust (CCT) / Frasers Hospitality Trust (FHT)
Morning Buzz - 24 January 2018
Market Colour / Suntec REIT / CapitaLand Mall Trust (CMT) / Frasers Centrepoint Trust (FCT) / M1
Morning Buzz - 23 January 2018
Market Colour / Keppel DC REIT / Mapletree Logistics Trust (MLT) / Frasers Commercial Trust (FCOT)
Morning Buzz - 22 January 2018
Market Colour / SGX / ST Engineering
Morning Buzz - 19 January 2018
Market Colour / China property / Oxley Hldgs / First Ship Lease Trust / Golden Energy and Resources
Morning Buzz - 18 January 2018
Market Colour / ST Engrg / JEP Hldgs / Soilbuild REIT / Spore Kitchen Equipment
Morning Buzz - 17 January 2018
Market Colour / First Ship Lease Trust / Mapletree Greater China Commercial Trust / JEP
Morning Buzz - 16 January 2018
Market Colour / CNMC / JEP Hldgs / Halcyon Agri
Morning Buzz - 15 January 2018
Market Colour / SPH / Food Empire / Singapore banks
Morning Buzz - 12 January 2018
Market Colour / ANTA Sports Products / HRnetGroup
Morning Buzz - 11 January 2018
Market Colour / Hong Kong Exchanges & Clearing / LHN / SGX / OUE Lippo Healthcare
Morning Buzz - 10 January 2018
Market Colour / ValueMax / HC Surgical Specialists (HCSS) / UOB
Morning Buzz - 9 January 2018
Market Colour / FCL
Morning Buzz - 8 January 2018
Market Colour / Fu Yu Corporation / SPH REIT / Mapletree Logistics Trust (MLT) / CapitaLand
Morning Buzz - 5 January 2018
Market Colour / Sembcorp Marine
Morning Buzz - 4 January 2018
Market Colour / Midas Hldgs / Venture Corp / BreadTalk
Morning Buzz - 3 January 2018
Market Colour / ComfortDelGro Corporation / Cosco Shipping / Wing Tai
Morning Buzz - 2 January 2018
Market Colour / Singapore property
Morning Buzz - 29 December 2017
Market Colour / Soilbuild Business Space REIT (SBREIT) / QAF / Hyflux
Morning Buzz - 28 December 2017
Market Colour / SATS / CapitaLand / Best World Int'l
Morning Buzz - 27 December 2017
Market Colour / Geo Energy Resources / Oxley Hldgs / Food Empire
Morning Buzz - 26 December 2017
Market Colour / Keppel Corporation / Keppel Corp / Sembcorp Marine / Frasers Centrepoint (FCL)
Morning Buzz - 22 December 2017
Market Colour / FSL Trust / Mapletree Industrial Trust (MIT) / City Devpts / Lippo Retail Trust
Morning Buzz - 21 December 2017
Market Colour / Mermaid Maritime / MindChamps
Morning Buzz - 20 December 2017
Market Colour / CapitaLand / Singapore equity market
Morning Buzz - 19 December 2017
Market Colour / Keppel Corp / ThaiBev / Rowsley
Morning Buzz - 18 December 2017
KGI Outlook / Keppel Corporation / Uni-Asia Group
Morning Buzz - 15 December 2017
Market Colour / Oxley Hldgs / Frasers Commercial Trust / LHN
Morning Buzz - 14 December 2017
Market Colour / Oxley Hldgs / ESR-REIT / Singtel
Morning Buzz - 13 December 2017
Market Colour / First Ship Lease Trust / Salesforce.com, Inc. / Datapulse / Jubilee Industries Hldgs / Emas Offshore
Morning Buzz - 12 December 2017
Market Colour / Keppel Corp / Oxley / MindChamps
Morning Buzz - 11 December 2017
Market Colour / Bitcoin / ThaiBev / ComfortDelGro
Morning Buzz - 8 December 2017
Market Colour / Spore market performance / What to watch out for in the next few weeks
Morning Buzz - 7 December 2017
Market Colour / Tencent / Oil prices / Bitcoin
Morning Buzz - 6 December 2017
KGI Macro Update: 2018 Global Outlook
Morning Buzz - 5 December 2017
Market Colour / US Markets / Spore property market
Morning Buzz - 4 December 2017
Market Colour / Sembcorp Marine / Keppel Corp
Morning Buzz - 1 December 2017
Market Colour / Golden Energy and Resources (GEAR) / Cache Logistics Trust (CACHE) / Best World
Morning Buzz - 30 November 2017
Market Colour / Chip Eng Seng / A-Htrust / ThaiBev
Morning Buzz - 29 November 2017
Market Colour / Noble / Yoma / CapitaLand
Morning Buzz - 28 November 2017
Market Colour / KGI Apple Insight
Morning Buzz - 27 November 2017
Market Colour / ThaiBev / Oil prices
Morning Buzz - 24 November 2017
Market Colour / ThaiBev / Oil prices
Morning Buzz - 23 November 2017
Market Colour / Singapore economy
Morning Buzz - 22 November 2017
Market Colour / Viva Industrial Trust (VIT) / Raffles Medical Grp (RMG) / Sembcorp Industries
Morning Buzz - 21 November 2017
Market Colour / Accordia Golf Trust / KGI China/HK weekly / Tencent
Morning Buzz - 20 November 2017
Market Colour / Singapore economy / K1 Ventures / MindChamps
Morning Buzz - 17 November 2017
Market Colour / Spore non-oil domestic exports (NODX) beat expectations / Spore fintech / TW Apple Insight
Morning Buzz - 16 November 2017
Market Colour / Frencken Group / Cromwell European Reit (Cereit) / RE&S / CapitaLand / Tencent
Morning Buzz - 15 November 2017
Market Colour / Japan Foods Holding / Olam Int'l / SingPost / Hong Leong Asia / Healthway Medical
Morning Buzz - 14 November 2017
Market Colour / Accordia Golf Trust / China Sunsine / Golden Agri-Resources / DELFI / Noble Grp
Morning Buzz - 13 November 2017
Market Colour / Cityneon Holdings / Asian Pay TV / Jardine C&C / HRnetGroup / ComfortDelGro
Morning Buzz - 10 November 2017
Market Colour / Yangzijiang / City Devpt / SATS / NetLink NBN Trust
Morning Buzz - 9 November 2017
Market Colour / SingTel / Valuetronics / Keppel-KBS US REIT
Morning Buzz - 8 November 2017
Market Colour / ST Engrg / DBS / Razer
Morning Buzz - 7 November 2017
Market Colour / SIA Engrg / Venture Corp
Morning Buzz - 6 November 2017
Market Colour / Asia share rally since 2016 driven by tech leaders
Morning Buzz - 3 November 2017
Market Colour / Cloud Computing / Sembcorp Marine / UOB / Manulife US REIT / Keppel KBS US REIT
Morning Buzz - 2 November 2017
Market Colour / mm2 Asia / Frasers Logistics Trust (FLT) / Oxley Hldgs / Far East Hospitality (FEHT)
Morning Buzz - 1 November 2017
Market Colour / Sembcorp Marine / ComfortDelGro / US stocks / Oil markets
Morning Buzz - 31 October 2017
Market Colour / SATS / Ascott / Tianjin Zhong Xin / Hong Leong Asia
Morning Buzz - 30 October 2017
Market Colour / Samudera Shipping Line / iFast Corp / Falcon Energy / Raffles Medical
Morning Buzz - 27 October 2017
Market Colour / China Sunsine Chemical Holdings / Samudera Shipping / CDL Hospitality Trust / Japfa
Morning Buzz - 26 October 2017
Market Colour / OCBC / SGX / Mapletree Commercial Trust (MCT) / Keppel-KBS US REIT IPO
Morning Buzz - 25 October 2017
Market Colour / Frasers Centrepoint Trust / Cache Logistics Trust / Mapletree Industrial Trust (MIT)
Morning Buzz - 24 October 2017
Market Colour / Mapletree Logistics Trust / Mapletree Greater China Commercial Trust / First REIT
Morning Buzz - 23 October 2017
Market Colour / Share buybacks / Institutional fund flows / CapitaLand Commercial Trust / CapitaLand Mall Trust / Tat Hong
Morning Buzz - 20 October 2017
Market Colour / Keppel Corp / CapitaLand Commercial Trust / GuocoLand
Morning Buzz - 19 October 2017
Market Colour / Spore Medical Grp / CapitaLand / Keppel T&T / ESR-Reit / Oxley Hldgs / Keppel REIT / CWT
Morning Buzz - 17 October 2017
Market Colour / M1 / Chip Eng Seng / Keppel DC Reit / Hiap Seng Engrg / SIA / Fischer Tech
Morning Buzz - 16 October 2017
Market Colour / Samudera Shipping Line / AEM Hldgs / Soilbuild REIT / Ocean Sky / Moya Hldgs
Morning Buzz - 13 October 2017
Market Colour / Poh Tiong Choon Logistics / Raffles Education / Oxley Hldgs / Lian Beng
Morning Buzz - 12 October 2017
Market Colour / Spore property mkt / Gold / SPH / Indiabulls Properties Invt Trust / Banyan Tree
Morning Buzz - 11 October 2017
Market Colour / Japan / Trendlines / SUTL / Digital Payments
Morning Buzz - 10 October 2017
Market Colour / REITS / SPH / CDL
Morning Buzz - 9 October 2017
Market Colour / China Sunsine Chemical Holdings / Singapore property market / GLP
Morning Buzz - 6 October 2017
Market Colour / First Real Estate Investment Trust / Utd Food Hldgs / Yongnam Hldgs / Pan Utd Corp / Soilbuild Construction Grp / ABR Hldgs / Ezion Hldgs / Croesus Retail Trust
Morning Buzz - 5 October 2017
Market Colour / Alliance Mineral Assets / Keppel Corp / Addvalue Technologies / UnUsUaL / SIA / Utd Global / ST Engrg / Saizen Reit
Morning Buzz - 4 October 2017
Market Colour / 800 Super Hldgs / Thai Beverage / Sembcorp Marine / Spore O&G / Falcon Energy Grp / Top Global / Genting Hong Kong
Morning Buzz - 3 October 2017
Market Colour / Jaya Hldgs / Roxy-Pacific Hldgs / Ezion Hldgs / Global Logistic Properties / HG Metal / Lion-Phillip S-Reit ETF
Morning Buzz - 2 October 2017
Market Colour / Rotary Engrg / Alliance Mineral Assets / GLP / Q&M Dental / Straits Trading Co / Trendlines / Loyz Energy
Morning Buzz - 22 September 2017
Market Colour / SPH / CapitaLand Commercial Trust / ASL Marine Hldgs / Del Monte Pacific / Neo Grp / ERA Realty Network IPO / Allied Technologies
Morning Buzz - 21 September 2017
Market Colour / Oil prices / Great Eastern Hldgs / Poh Tiong Choon Logistics / Swissco Hldgs / Olam Int'l / Sysma Hldgs
Morning Buzz - 20 September 2017
Market Colour / United Engineers, Yanlord, Perennial / Alliance Mineral / Loyz Energy / Keppel Corp / Manulife US REIT / ASTI Hldgs
Morning Buzz - 19 September 2017
Market Colour / SGX / Sembcorp Marine / Cromwell European REIT / TEE Land / Trendlines Grp / Sunpower Grp / ISR Capital
Morning Buzz - 18 September 2017
Market Colour / UOL Group / SBS Transit / Roxy-Pacific / Lian Beng / Keppel T&T / Golden Energy and Resources / Heatec Jietong / Low Keng Huat / Mandarin Oriental

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Silverlake Axis Limited (SILV SP) - 31 August 2020
2H20: Trough may be over but no silver bullet for FY21 recovery (Downgrade to NEUTRAL , TP: S$ 0.31)
ComfortDelGro Corporation Limited (CD SP) - 26 August 2020
Update: Refuelling for the journey ahead (Maintain OUTPERFORM, TP: S$ 1.630)
Avarga Limited (AVARGA SP) - 26 August 2020
Update: Laggard COVID-19 play (Not Rated)
Uni-Asia Group Limited (UAG SP) - 25 August 2020
Update: Minimising risk by restructuring exposure to hospitality sector (Maintain NEUTRAL; TP: S$ 0.54)
Hyphens Pharma International Limited (HYP SP) - 24 Augusts 2020
1H20: A hair-raising first half (Not Rated)
Jiutian Chemical Group (JIUC SP) - 21 August 2020
1H20: Boom time for Jiutian (No Rating)
ISDN Holdings (ISDN SP) - 20 August 2020
1H20: Ending 2020 on a high note (Maintain OUTPERFORM, TP: S$ 0.47)
Sembcorp Marine Limited (SMM SP) - 20 August 2020
Update: What’s next? (Maintain NEUTRAL, TP: S$ 0.23)
UnUsUal Limited (UNU SP) - 20 August 2020
1H20: Unusually quiet for now but might get exciting at year’s end (Not Rated)
Accordia Golf Trust (AGT SP) - 20 August 2020
Update: It has been a long journey – Accept offer (Accept offer; TP: S$ 0.75)
Yanlord Land Group Limited (YLLG SP) - 19 August 2020
1H20: Pricing pressures are surfacing (Maintain OUTPERFORM, TP: S$ 1.52)
China Sunsine Chemical Holdings (CSSC SP) - 18 August 2020
1H20: Robust amidst cyclical downturn (Maintain OUTPERFORM, TP: S$ 0.47)
UMS Holdings Limited (UMSH SP) - 17 August 2020
2Q20: Strong momentum (Maintain NEUTRAL; TP: S$ 1.17)
Frencken Group Limited (FRKN SP) - 17 August 2020
1H20: Better 2H 2020; buy the dip (Maintain OUTPERFORM, TP: S$ 1.210)
Sasseur REIT (SASSR SP) - 17 August 2020
2Q20: Outperformance compared to peers (Maintain OUTPERFORM, TP: S$ 0.89)
Thai Beverage PCL (THBEV SP) - 17 August 2020
3Q20: Securing its dominant position in Thailand (Maintain OUTPERFORM, TP: S$ 0.93)
Singapore Medical Group (SMG SP) - 14 August 2020
1H20: Don’t mistake this diamond for a rock (Maintain OUTPERFORM; TP: S$ 0.34)
Sunpower Group Limited (SPWG SP) - 14 August 2020
2Q20: Proven turnaround (Maintain OUTPERFORM, TP: S$ 0.91)
Procurri Corporation Limited (PROC SP) - 13 August 2020
1H20: Life buoys deployed, afloat but adrift (Not Rated)
Delfi Limited (DELFI SP) - 13 August 2020
1H20: Beating the odds (Maintain OUTPERFORM, TP: S$ 0.89)
Manulife US REIT (MUST) - 13 August 2019
2Q20: Rethinking office spaces after the pandemic (Maintain NEUTRAL, TP: US$ 0.86)
Singapore O&G Limited (SOG SP) - 11 August 2020
1H20: Just cruising along (Maintain NEUTRAL; TP: S$ 0.25)
EC World REIT (ECWREIT SP) - 11 August 2020
1H20: Buoyant in rough waters, but keeping a life jacket for ease of mind (Maintain OUTPERFORM; TP: S$ 0.730)
ARA US Hospitality Trust (ARAUS SP) - 7 August 2020
2Q20: Long term growth outlook still intact (Downgrade to NEUTRAL; US$ 0.40)
ISDN Holdings (ISDN SP) - 6 August 2020
Initiation: Harder, better, faster, stronger (Initiation - OUTPERFORM, TP: S$ 0.42)
CSE Global (CSE SP) - 6 August 2020
2Q20: Potential for more Infrastructure projects (Downgrade to NEUTRAL, TP: S$ 0.52)
AEM Holdings Limited (AEM SP) - 4 August 2020
2Q20: Billion Dollar Round Table (Maintan OUTPERFORM, TP: S$ 4.60)
Keppel Corporation Limited (KEP SP) - 4 August 2020
2Q20: Likely lower offer from Temasek (Maintain OUTPERFORM, TP: S$ 6.34)
Sheng Siong Group Limited (SSG SP) - 30 August 2020
2Q20: Extraordinary results in extraordinary circumstances (Maintain Neutral, TP: S$ 1.580)
AIMS APAC REIT (AAREIT SP) - 28 July 2020
Update: Proving a resilient portfolio (Not Rated)
AEM Holdings Limited (AEM SP) - 24 July 2020
Update: An eventful week (Maintain OUTPERFORM, TP: S$ 4.24)
UMS Holdings Limited (UMSH SP) - 22 July 2020
2Q20: Upswing imminent (Upgrade to NEUTRAL, TP: S$ 0.89)
Mermaid Maritime PCL (MMT SP) - 22 July 2020
Initiation: Can this mermaid survive the harsh dry summer? (Initiation - NEUTRAL; TP: S$ 0.085)
Yanlord Land Group Limited (YLLG SP) - 17 July 2020
2Q20: Red Hot Chinese Property (Maintan OUTPERFORM, TP: S$ 1.45)
Silverlake Axis Limited (SILV SP) - 9 July 2020
Initiation: Lake shrinked but new ponds are forming (Initiation - OUTPERFORM, TP: S$ 0.30)
Singapore Medical Group (SMG SP) - 8 July 2020
Initiation: Stealing a march on healthcare (Initiation - OUTPERFORM; TP: S$ 0.34)
Singapore O&G Limited (SOG SP) - 3 July 2020
Initiation: Looking a little pale (Initiation - NEUTRAL; TP: S$ 0.32)
EC World REIT (ECWREIT SP) - 3 July 2020
Update: No need for panic (Maintain OUTPERFORM; TP: S$ 0.730)
Yanlord Land Group Limited (YLLG SP) - 29 June 2020
Initiation: Reaping the fruits of labour (Initiation - OUTPERFORM, TP: S$ 1.30)
Sasseur REIT (SASSR SP) - 11 June 2020
Initiation: Not your average retail REIT (Initiation - OUTPERFORM, TP: S$ 0.89)
Delfi Limited (DELFI SP) - 5 June 2020
Initiation: Indonesia’s Sweet Darling (Initiation - OUTPERFORM, TP: S$ 0.93)
Frencken Group Limited (FRKN SP) - 26 May 2020
1Q20: Sustained momentum; good value compared to peers (Maintain OUTPERFORM, TP: S$ 1.010)
Sunpower Group Limited (SPWG SP) - 18 May 2020
1Q20: Expecting a turnaround afterwards (Maintain OUTPERFORM, TP: S$ 0.91)
Silverlake Axis Limited (SILV SP) - 18 May 2020
Update: Pivoting through tough times (Not Rated)
Soilbuild Business Space REIT (SBREIT SP) - 18 May 2020
Update: Structural shifts in play (Maintain NEUTRAL, TP: S$ 0.48)
AEM Holdings Limited (AEM SP) - 14 May 2020
1Q20: Best and biggest port in this storm (Maintan OUTPERFORM, TP: S$ 3.61)
UMS Holdings Limited (UMSH SP) - 14 May 2020
1Q20: A confidence signal amidst uncertain times (Maintain UNDERPERFORM, TP: S$ 0.74)
EC World REIT (ECWREIT SP) - 14 May 2020
1Q20: Normalcy with an added sprinkle of caution (Maintan OUTPERFORM, TP: S$ 0.730)
CapitaLand Retail China Trust (CRCT SP) - 13 May 2020
Update: First in first out - China retail recovery underway (Maintain OUTPERFORM, TP: S$ 1.540)
ARA US Hospitality Trust (ARAUS SP) - 13 May 2020
1Q20: What doesn’t kill you makes you stronger (Maintain OUTPERFORM; US$ 0.67)
Frasers Centrepoint Trust (FCT SP) - 11 May 2020
Update: Structural or cyclical? Resume coverage with Outperform (Upgrade to Outperform, TP: S$ 2.390)
KGI Securities April 2020 Monthly Recap - 8 May 2020
Our April Archive: KGI Securities April 2020 Monthly Recap
UMS Holdings Limited (UMSH SP) - 4 May 2020
Initiation: Any bullets left in this chamber? (Initiation - UNDERPERFORM, TP: S$ 0.67)
Sheng Siong Group Limited (SSG SP) - 30 April 2020
1Q20: 1Q20 results update; An emanation of Covid-19 (Downgrade to Neutral, TP: S$ 1.460)
KGI Securities March 2020 Monthly Recap - 2 April 2020
Our March Memoir: KGI Securities March 2020 Monthly Recap
Uni-Asia Group Limited (UAG SP) - 31 March 2020
Update: Delay to Olympics and travel bans a major blow to hotel business (Maintain NEUTRAL, TP: S$ 0.62)
ARA US Hospitality Trust (ARAUS SP) - 17 March 2020
Update: Management update: COVID-19 Impact
KGI Trading Ideas - 13 March 2020
KGI Trading Ideas - FAB 5 Portfolio
Uni-Asia Group Limited (UAG SP) - 12 March 2020
4Q19: Hurt on all sides (Downgrade to NEUTRAL, TP: S$ 0.62)
IFS Capital Limited - 11 March 2020
4Q19: Win-Win for IFS and SMEs (Maintain OUTPERFORM, TP: S$0.30)
KGI Trading Ideas - 10 March 2020
KGI Trading Ideas - Singapore banks: Overshooting on the downside
Keppel DC REIT (KDCREIT SP) - 10 March 2020
Update: Yield hungry? Try something else (Downgrade to NEUTRAL, TP: S$ 2.190)
KGI Trading Ideas - 9 March 2020
KGI Trading Ideas - Is the ETF bubble finally going to burst?
KGI Securities February 2020 Monthly Recap - 5 March 2020
Our February Flashback: KGI Securities February 2020 Monthly Recap
Sunpower Group Limited (SPWG SP) - 4 March 2020
4Q19: Expecting a quick China recovery in 2Q20 (Maintain OUTPERFORM, TP: S$ 0.91)
EC World REIT (ECWREIT SP) - 2 March 2020
4Q19: Somewhat immune, but some sniffles expected (Maintain OUTPERFORM, TP: S$ 0.820)
AEM Holdings Limited (AEM SP) - 2 March 2020
4Q19: Roaring into the Twenties (Maintain OUTPERFORM, TP: S$ 2.60)
Frencken Group Limited (FRKN SP) - 28 February 2020
4Q19: Blowout 4Q19 results; buying opportunity (Upgrade to OUTPERFORM, TP: S$ 1.010)
Sembcorp Marine Limited (SMM SP) - 27 February 2020
4Q19: Looking beyond earnings as corporate actions await (Maintain NEUTRAL, TP: S$ 1.19)
Sheng Siong Group Limited (SSG SP) - 26 February 2020
4Q19: 4Q19 results update; Steady as it goes (Maintan OUTPERFORM, TP: S$1.400)
ComfortDelGro Corporation Limited (CD SP): 24 February 2020
4Q19: Sputtering engines and dividend cut (Maintain OUTPERFORM, TP: S$2.28)
Thai Beverage PCL (THBEV SP) - 20 February 2020
1Q20: Lifted by Spirits (Upgrade to OUTPERFORM, TP: S$ 0.96)
Eagle Hospitality Trust (EAGLEHT SP) - 20 February 2020
4Q19: Missed estimates; no near term catalysts (Downgrade to NEUTRAL, TP: US$ 0.51)
ARA US Hospitality Trust (ARAUS SP) - 20 February 2020
4Q19: Largely in line with forecasts, keep an eye peeled (Maintain OUTPERFORM; US$ 0.95)
CapitaLand Retail China Trust (CRCT SP) - 13 February 2020
4Q19: Short-term impact from coronavirus (Maintain OUTPERFORM, TP: S$ 1.660)
Manulife US REIT (MUST) - 10 February 2020
4Q19: Performance in line; busy year of acquisitions (Downgrade to NEUTRAL, TP: US$ 1.11)
KGI Securities January 2020 Monthly Recap - 5 February 2020
Our January Notes: KGI Securities January 2020 Monthly Recap
Soilbuild Business Space REIT (SBREIT SP) - 30 January 2020
4Q19: Going in the right direction but headwinds remain (Maintain NEUTRAL, TP: S$ 0.55)
AEM Holdings Limited (AEM SP) - 15 January 2020
Update: Testing new waters (Maintain OUTPERFORM, TP: S$ 2.57)
Sunpower Group Limited (SPWG SP) - 6 December 2019
Initiation: See More Clearly Now – Turning Smog into Opportunity (Initiation - OUTPERFORM, TP: S$ 0.91)
KGI Securities November 2019 Monthly Recap - 2 December 2019
Our November Summary: KGI Securities November 2019 Monthly Recap
Uni-Asia Group Limited (UAG SP) - 2 December 2019
3Q19: Looking forward to Tokyo 2020 (Maintain OUTPERFORM, TP: S$ 1.24)
EC World REIT (ECWREIT SP) - 25 November 2019
Initiation: E-Commerce taking over the World (Initiation - OUTPERFORM, TP: S$ 0.84)
ComfortDelGro Corporation Limited (CD SP) - 19 November 2019
Update: Fare increase to help ease cost pressure (Upgrade to OUTPERFORM, TP: S$ 2.61)
Eagle Hospitality Trust (EAGLEHT SP) - 18 November 2019
3Q19: This battleship is not sinking (Maintain OUTPERFORM, TP: US$ 0.61)
Frencken Group Limited (FRKN SP) - 18 November 2019
Update: Too fast too furious (Downgrade to NEUTRAL , TP: S$0.930)
Accordia Golf Trust - 15 November 2019
2Q20: Back in the game; highest interim dividend since 2014 (Maintain OUTPERFORM, TP: S$0.670)
IFS Capital Limited - 14 November 2019
3Q19: Healthy growth in SME lending business (Maintain OUTPERFORM, TP: S$0.30)
China Sunsine Chemical Holdings (CSSC SP) - 12 November 2019
3Q19: Bargain hunting (Maintain OUTPERFORM, TP: S$ 1.200)
KGI Trading Ideas - 11 November 2019
KGI Trading Ideas: Mermaid Maritime (MMT SP)
Japan Foods Holding Limited - 11 November 2019
2Q20: Holding steady despite challenging environment (Maintain NEUTRAL, TP: S$ 0.460)
CSE Global Limited (CSE SP) - 8 November 2019
3Q19: Order wins gaining momentum (Maintain OUTPERFORM, TP: S$ 0.610)
Frencken Group Limited (FRKN SP) - 7 November 2019
3Q19: Riding on the wave of business and technology transformation (Maintain OUTPERFORM, TP: S$0.930)
KGI Securities October 2019 Monthly Recap - 7 November 2019
Our October Summary: KGI Securities October 2019 Monthly Recap
ARA US Hospitality Trust (ARAUS SP) - 7 November 2019
3Q19: Short-term disruptions paving the way for long-term sustainability (Maintain OUTPERFORM; US$ 0.99)
Manulife US REIT (MUST) - 6 November 2019
3Q19: 3Q19 result updates; AUM passed the US$2bn mark (Maintain OUTPERFORM, TP: US$ 1.00)
AEM Holdings Limited (AEM SP) - 4 November 2019
3Q19: Blue Skies Ahead (Maintain OUTPERFORM, TP: S$ 1.80)
Sheng Siong Group Limited (SSG SP) - 1 November 2019
3Q19: 3Q19 results update; Sustaining the growth momentum (Maintain OUTPERFORM, TP: S$1.35)
CapitaLand Retail China Trust (CRCT SP) - 31 October 2019
3Q19: Earnings on a roll; Awaiting further portfolio rejuvenation (Maintain OUTPERFORM, TP: S$ 1.740)
Eagle Hospitality Trust (EAGLEHT SP) - 25 October 2019
Update: Rumour grows as it goes (Maintain OUTPERFORM, TP: US$ 0.72)
Keppel Corporation Limited - 21 October 2019
3Q19: Weak 2019 earnings likely priced in; attractive entry level (Upgrade to OVERWEIGHT, TP: S$ 7.440)
Soilbuild Business Space REIT (SBREIT SP) - 18 October 2019
3Q19: Doubling down in Australia; Transitional headwinds persist (Maintain Neutral, TP: S$ 0.58)
Keppel DC REIT (KDCREIT SP) - 17 October 2019
3Q19: More positives this quarter (Maintain OUTPERFORM, TP: S$ 2.110)
First Real Estate Investment Trust (FIRT SP) - 11 October 2019
Site Visit: Site visit to First REIT’s assets in Jakarta (Not Rated)
AEM Holdings Limited (AEM SP) - 11 October 2019
Initiation: Divide and Conquer (Initiation - OUTPERFORM, TP: S$ 1.34)
China Sunsine Chemical Holdings (CSSC SP) - 10 October 2019
Re-Initiation: Accumulate at the trough (Re-Initiation - OUTPERFORM, TP: S$ 1.400)
KGI Securities September 2019 Monthly Recap - 2 October 2019
Our September Summary: KGI Securities September 2019 Monthly Recap
ARA US Hospitality Trust (ARAUS SP) - 2 October 2019
Initiation: A strategically superior, high yielding, pure-play REIT (Initiation - OUTPERFORM, TP: US$ 0.960)
Eagle Hospitality Trust (EAGLEHT SP) - 2 October 2019
Initiation: Rock bottom valuations; Bound to soar (Initiation - OUTPERFORM, TP: US$ 0.840)
Uni-Asia Group Limited (UAG SP) - 26 September 2019
Site Visit: Site visit to UAG’s Tokyo hotels and residential properties (Maintain OUTPERFORM, TP: S$ 1.24)
Geo Energy Resources Limited (GERL SP) - 24 September 2019
Update: Latest acquisition to increase reserves by 56% (Maintain NEUTRAL, TP: S$ 0.140)
Manulife US REIT (MUST) - 19 September 2019
Update: California next on the menu; Benchmark inclusion insight (Maintain OUTPERFORM, TP: US$ 1.01)
Keppel DC REIT (KDCREIT SP) - 17 September 2019
Update: Gaining traction with twin acquisitions (Upgrade to OUTPERFORM, TP: S$ 1.950)
CSE Global Limited (CSE SP) - 10 September 2019
Update: Earnings boost from US$25mn acquisition (Maintain OUTPERFORM, TP: S$ 0.64)
Frencken Group Limited (FRKN SP) - 10 September 2019
Update: Opportunity to accumulate on the back of new upcycle (Upgrade to OUTPERFORM, TP: S$0.81)
KGI Securities August 2019 Monthly Recap - 6 September 2019
Our August Archive: KGI Securities August 2019 Monthly Recap
Geo Energy Resources Limited (GERL SP) - 29 August 2019
Update: Hazy outlook as China demand weakens (Maintain NEUTRAL, TP: S$ 0.140)
Uni-Asia Group Limited (UAG SP) - 28 August 2019
Update: Good first half as it keeps up positive momentum (Maintain OUTPERFORM, TP: S$ 1.24)
IFS Capital Limited - 26 August 2019
Update: Keeping up the momentum in lending to Southeast Asian SMEs (Maintain OUTPERFORM, TP: S$0.30)
Frencken Group Limited (FRKN SP) - 22 August 2019
2Q19: Highest quarterly profit but valuations not a bargain anymore (Downgrade to NEUTRAL, TP: S$0.810)
Thai Beverage PCL (THBEV SP) - 19 August 2019
3Q19: Not the best time for a hangover (Maintain NEUTRAL, TP: S$0.80)
Accordia Golf Trust (AGT SP) - 16 August 2019
Update: Highest number of players since 2014 (Maintain OUTPERFORM, TP: S$0.670)
ComfortDelGro Corporation Limited (CD SP) - 15 August 2019
Update: Starting to look attractive again but risks from currency exposure (Maintain Neutral, TP: S$2.77)
Manulife US REIT (MUST) - 15 August 2019
2Q19: Reaping the fruits of recent acquisitions (Maintain OUTPERFORM, TP: US$ 0.98)
KGI Trading Ideas - 8 August 2019
KGI Trading Ideas: Key trends in global markets
CapitaLand Retail China Trust (CRCT SP) - 2 August 2019
2Q19: 1H19 exceeded expectations; accumulate on dip (Maintain Outperform, TP: S$ 1.680)
KGI Trading Ideas - 1 August 2019
KGI Trading Ideas: First US rate cut since 2008 and implications for markets
Sembcorp Marine Limited (SMM SP) - 31 July 2019
2Q19: Disappointing results; recovery postponed (Downgrade to NEUTRAL, TP: S$ 1.59)
Sheng Siong Group Limited (SSG SP) - 31 July 2019
2Q19: 2Q19 results update; steering a steady ship (Maintain Outperform, TP: S$ 1.270)
Frasers Centrepoint Trust (FCT SP) - 26 July 2019
3Q19: 3Q19 results update; AEI works to fuel organic growth in the coming few quarters (Maintain Neutral, TP: S$ 2.510)
Chasen Holdings Limited (CHLD SP) - 24 July 2019
Update: Moving with the times (Not Rated)
Keppel Corporation Limited - 22 July 2019
2Q19: Weak first half while outlook looks muted (Maintain Neutral , TP: S$ 7.430)
Soilbuild Business Space REIT (SBREIT SP) - 19 July 2019
2Q19: 2Q19 results update; Lower DPU within expectations (Maintain Neutral, TP: S$ 0.610)
Keppel DC REIT (KDCREIT SP) - 17 July 2019
2Q19: 2Q19 results update; Near term catalysts looked to be priced in (Downgrade to NEUTRAL, TP: S$ 1.710)
Soilbuild Business Space REIT (SBREIT SP) - 16 July 2019
Re-Initiation: Strategic turnaround with first foray into Australia (Re-Initiate - Neutral, TP: S$ 0.609)
United Engineers Limited (UEM SP) - 11 July 2019
Update: Potential upside from redevelopment and divestments (Not Rated)
ComfortDelGro Corporation Limited (CD SP) - 10 July 2019
Update: Good share price performance YTD but valuations are stretched (Downgrade to Neutral, TP: S$2.77)
KGI Internal Flash Update - 9 July 2019
KGI Internal Flash Update - REITs ranking
KGI Trading Ideas - 27 June 2019
KGI Trading Ideas: TEE INTERNATIONAL (TEE SP)
Frasers Centrepoint Trust (FCT SP) - 24 June 2019
Re-Initiation: Defensive suburban retail player with a clear growth strategy (Re-Initiate - Neutral, TP: S$ 2.330)
Centurion Corporation Limited (CENT) - 3 June 2019
Site Visit: Site visit to ASPRI-Westlite Papan and Dwell Selegie (Not Rated)
Accordia Golf Trust (AGT SP) - 31 May 2019
Update: Improving operations marred by impairment losses (Maintain Outperform BUY, TP: S$ 0.700)
Japan Foods Holding Limited - 22 May 2019
4Q19: New store openings weigh on performance (Maintain NEUTRAL, TP: S$0.550)
CSE Global Limited (CSE SP) - 21 May 2019
Update: Healthy order wins (Maintain BUY, TP: S$0.58)
Uni-Asia Group Limited (UAG SP) - 17 May 2019
Update: Bonus for shareholders (Maintain BUY, TP: S$ 1.860)
ComfortDelGro Corporation Limited (CD SP) - 16 May 2019
1Q19: Lifted by acquisitions and public transport services (Maintain BUY, TP: S$2.77)
Frencken Group Limited (FRKN SP) - 13 May 2019
1Q19: Slowing down QoQ but business remains well diversified (Maintain BUY, TP: S$0.670)
Thai Beverage PCL (THBEV SP) - 13 May 2019
2Q19: Maintain Hold (Maintain HOLD, TP: S$0.75)
Sembcorp Marine Limited (SMM SP) - 6 May 2019
1Q19: Firming industry outlook (Maintain BUY, TP: S$ 2.480)
JB Foods Limited (JBF SP) - 3 May 2019
4Q18: 2019 is looking good; upcoming 1Q19 results may provide short-term catalyst (Not Rated)
DBS Group Holdings Limited (DBS SP) - 2 May 2019
1Q19: Fairly Valued. Downgrade to Hold (Downgrade to HOLD, TP: S$27.700)
Manulife US REIT (MUST) - 29 April 2019
1Q19: 1Q19 results update; positive start to the year (Maintain BUY, TP: US$ 0.97)
Sheng Siong Group Limited (SSG SP) - 29 April 2019
1Q19: Navigating Competitive Landscapes (Maintan BUY, TP: S$ 1.24)
Keppel DC REIT (KDCREIT SP) - 18 April 2019
1Q19: 1Q19 results update; KDCREIT may see the acquisition of KDC 4 (SG) in 2019. (Maintain BUY, TP: S$ 1.620)
INDON 3.75% 04/25/22 (INDON) - 18 April 2019
Fixed Income Note: Short-Term Carry (USD)
PHILIP 9.5% 10/21/24 (PHILIP) - 12 April 2019
Fixed Income Note: Intermediate Term Carry (USD)
Uni-Asia Group Limited (UAG SP) - 9 April 2019
Update: Placement successful; firm dividend policy until FY20 (Maintain BUY, TP: S$ 1.860)
Keppel DC REIT (KDCREIT SP) - 5 April 2019
Initiation: Banking on Singapore’s position as global data centre market leader (Initiation - BUY, TP: S$ 1.620)
Accordia Golf Trust - 4 April 2019
Site Visit: Site visit; waiting for acquisitions (Maintain BUY, TP: S$ 0.720)
Sasseur REIT (SASSR SP) - 29 March 2019
Company Visit: Site visit to Sasseur REIT’s outlet malls in Chongqing and Hefei (Not Rated)
CPDEV 3.875% 01/30/21 (CPDEV) - 29 March 2019
Credit Note: Short-Term Carry (USD)
Geo Energy Resources Limited (GERL SP) - 26 March 2019
Update: Hazy outlook as global economic growth slows (Maintain HOLD, TP: S$0.190)
SUNOTG 3.75% 01/23/23 (SUNOTG) - 22 March 2019
Credit Note: Intermediate - Term Carry (USD)
CapitaLand Retail China Trust (CRCT SP) - 20 March 2019
Initiation: Pure play China retail REIT – Positive asset recycling efforts to pay off by 2020 (Initiation - BUY, TP: S$ 1.610)
CENCHI 6.25% 05/02/20 (CENCHI) - 15 March 2019
Credit Note: High Yield Debt (SGD)
Uni-Asia Group Limited (UAG SP) - 14 March 2019
4Q18: Looking forward to a better year (Maintain BUY, TP: S$ 2.07)
Raffles Medical Group Limited (RFMD SP) - 12 March 2019
Update: In good health as it grows from one to three (Not Rated)
Frencken Group Limited (FRKN SP) - 7 March 2018
4Q18: Highest quarterly profit in eight years (Maintain BUY, TP: S$0.670)
COGARD 4.75% 09/28/23 (COGARD) - 8 March 2019
Credit Note: High Yield Debt (USD)
Momo Inc - 8 March 2019
Update: Cease Coverage
Tesla 5.3% 08/15/25 (TSLA) - 8 March 2019
Credit Note: Electric Cars Revolution
China Sunsine Chemical Holdings (CSSC SP) - 7 March 2019
Update: Taking advantage of opportunities amid short-term challenges (Not Rated)
Kingsmen Creatives Limited (KMEN SP) - 6 March 2019
Update: First of its kind – NERF family entertainment centres (Not Rated)
CSE Global Limited (CSE SP) - 4 March 2019
Update: Positive trends; attractive 5.5% dividend yield (Maintain BUY, TP: S$0.58)
LBBW 3.75% 05/18/27 (LBBW) - 1 March 2019
Credit Note: Intermediate-Term Carry (SGD)
Sim Leisure Group (SLGL SP) - 1 March 2019
Update: First of its kind – theme park focused entertainment stock listed in SG (Not Rated)
Best World International Limited (BEST SP) - 28 February 2019
Update: Strong growth in China but risks remain (Not Rated)
Sheng Siong Group Limited (SSG SP) - 27 February 2019
Update: Navigating Competitive Landscapes (Maintan BUY, TP: S$1.24)
STANLN 4.4% 01/23/26 (STANLN) - 22 February 2019
Credit Note: Intermediate-Term Carry (SGD)
DBS Group Holdings Limited - 21 February 2019
Update: Dovish Fed and market volatility weighs (Maintain BUY, TP: S$27.700)
Sembcorp Marine Limited - 21 February 2019
4Q18: Positioning for the future (Maintain BUY, TP: S$ 2.48)
ComfortDelGro Corporation Limited - 18 February 2019
Update: Acquisition-fuelled year; taxi business stabilising (Maintain BUY, TP: S$2.77)
Thai Beverage PCL - 18 February 2019
Update: Downgrade to Hold (Downgrade to HOLD, TP: S$0.75)
Manulife US REIT - 15 February 2019
FY18: FY18 results update; Dividend yield remains attractive amongst office peers (Maintain BUY, TP: US$0.95)
Accordia Golf Trust - 15 February 2019
3Q19: Tee time; consolidation in the industry likely to benefit the largest players (Upgrade to BUY, TP: S$0.610)
ANZ 3.75% 03/23/27 (ANZ) - 14 February 2019
Credit Note: Intermediate-Term Carry (SGD)
DISA Limited (DISA SP) - 14 February 2019
2Q19: Cease Coverage (Cease Coverage)
JB Foods Limited (JBF SP) - 11 February 2019
Update: Anything is good if it’s made of chocolate (Not Rated)
ABNANV 4.75% 04/01/26 (ABNANV) - 8 February 2019
Credit Note: Intermediate-Term Carry
Japan Foods Holding Limited - 1 February 2019
3Q19: Stable business under a challenging environment; interesting JV overseas (Maintain HOLD, TP: S$0.570)
BPCE 4.5% 06/03/26 (BPCEGP) - 31 January 2019
Credit Note: Intermediate-Term Carry
Keppel Corporation Limited - 28 January 2019
4Q18: Muted outlook as key segments face headwinds (Downgrade to HOLD, TP: S$ 7.50)
Tuan Sing Holdings Limited - 22 January 2019
Update: Short-term catalyst from completion of 18 Robinson project (Not Rated)
Sembcorp Marine Limited - 21 January 2019
Update: Past cyclical troughs (Maintain BUY, TP: S$ 2.50)
SIASP 3.22% 07/09/20 - 18 January 2019
Credit Note: Short-Term Carry
CSE Global Limited - 16 January 2019
Update: Great start to the new year; 2018 infra order wins increased 44% YoY (Maintain BUY, TP: S$ 0.57)
Accordia Golf Trust - 11 January 2019
Update: Company presentation update; rock-bottom valuations (Maintain HOLD, TP: S$0.610)
CapitaLand 1.85% 06/19/20 - 11 January 2019
Credit Note: Defensive positioning with positive carry
IFS Capital Limited - 2 January 2019
Update: New moneylending business model driven by the digital economy (Maintain BUY, TP: S$0.29)
Thai Beverage PCL - 5 December 2018
Update: Opportunity to buy on recent weakness due to disappointing results (Maintain BUY, TP: S$0.75)
Geo Energy Resources Limited - 27 November 2018
Update: Downgrade to HOLD; cautious outlook on industry (Downgrade to HOLD, TP: S$0.210) - Updated Version
Asian Pay Television Trust - 20 November 2018
Update: 8.2% div yield not enough to offset risks and lack of re-rating in next two years (Not Rated)
Accordia Golf Trust - 15 November 2018
2Q19: Attractive valuations but lack of near-term re-rating catalysts; downgrade to HOLD (Downgrade to HOLD, TP: S$0.610)
CNMC Goldmine Holdings Limited - 15 November 2018
3Q18: Operations improving but expenses expected to remain high (Cease Coverage)
Alliance Mineral Assets Limited - 13 November 2018
Company Visit: Australia site visit to Alliance and Pilbara Minerals; industry weakness an opportunity (Not Rated)
ComfortDelGro Corporation Limited - 12 November 2018
3Q18: Improving performance; overall outlook positive (Maintain BUY, TP: S$2.72)
Japan Foods Holding Limited - 12 November 2018
2Q19: Rising competition; downgrade to HOLD (Downgrade to HOLD, TP: S$0.560)
Manulife US REIT - 5 November 2018
3Q18: 3Q18 results in line with expectations; opportunity to accumulate after sell-off (Maintain BUY, TP: US$0.92)
DBS Group Holdings Limited - 2 November 2018
Re-Initiation: Geared for Wealth (Re-Initiation - BUY, TP: S$27.700)
Sheng Siong Group Limited - 1 November 2018
3Q18: Navigating Competitive Landscapes (Maintain BUY, TP: S$1.24)
DISA Limited - 1 November 2018
1Q19: Additional Retailers Key to FY19 (Maintain BUY, TP: S$ 0.02)
EC World REIT - 29 October 2018
Company Visit: Site Visit Note (Not Rated)
IFS Capital Limited - 17 October 2018
Initiation: Turnaround taking shape; Financing SMEs since 1987 (Initiation - BUY, TP: S$0.29)
ComfortDelGro Corporation Limited - 15 October 2018
Update: Overreaction to Go-Jek’s entry into Singapore (Maintain BUY, TP: S$2.72)
CSE Global Limited - 8 October 2018
Re-Initiation; Site-Visit: Turnaround as industry fundamentals improve; offering attractive 6% dividend yield (Re-Initiation; Site-Visit - BUY, TP: S$0.57)
Creative Technology Limited - 27 September 2018
Update: Spatial Audio Unleashed (Not Rated)
StarHub Limited - 27 September 2018
Update: Wake up call for Singapore’s telcos (Not Rated)
Keppel Corporation Limited - 27 September 2018
Update: Offer for M1 and KT&T; EPS-accretive deals leveraging on its strong balance sheet (Maintain BUY, TP: S$9.43)
Thai Beverage PCL - 14 September 2018
Initiation: Unlocking Opportunities in Vietnam and Thailand (Initiation - BUY, TP: S$0.75)
Sheng Siong Group Limited - 14 September 2018
Initiation: A defensive story for the long haul (Initiation - BUY, TP: S$1.24)
Momo Inc - 30 August 2018
2Q18: Blow out quarter; expect VAS momentum to continue as key driver (Maintain BUY, TP: US$ 60.08)
DISA Limited - 30 August 2018
4Q18: Growth plans on track with more retailers expected to come aboard (Maintain - BUY, TP: S$ 0.02)
Frasers Centrepoint Trust (FCT SP) - 28 August 2018
Update: Defensive suburban exposure for the long haul (Not Rated)
CSE Global Limited (CSE SP) - 27 August 2018
Update: Turnaround as industry fundamentals improve; offering attractive 6.4% dividend yield (Not Rated)
Uni-Asia Group Limited - 21 August 2018
2Q18: Good set of results; Trading at attractive valuations (Maintain BUY, TP: S$2.00)
Accordia Golf Trust (AGT SP) - 17 August 2018
1Q19: It’s a new dawn, It’s a new day (Maintain BUY, TP: S$0.700)
Japan Foods Holding Limited (JFOOD SP) - 16 August 2018
1Q19: Venturing beyond Singapore; Indonesia a promising market (Maintain BUY, TP: S$0.640)
Cityneon Holdings Limited (CITN SP) - 16 August 2018
2Q18: Cityneon continues to deliver yet another stellar quarter (Maintain BUY, TP: S$1.510)
Manulife US REIT - 13 August 2018
2Q18: 2Q18 results in line with expectations; lower DPU on enlarged unit base (Maintain BUY, TP: US$0.97)
MindChamps Preschool Limited - 13 August 2018
2Q18: Strong Results from Q2; China Expansion on Track (Maintain BUY, TP: S$0.86)
CNMC Goldmine Holdings Limited - 3 July 2018
Re-Initiation: Golden opportunity (Re-Initiation - BUY, TP: S$0.380)
Xiaomi - 25 June 2018
Offer of foreign IPO in Singapore which does not have prospectus lodged and registered with MAS can only be offered to institutional investors (Sec 274 of SFA) and accredited investors (Sec 275 of SFA). IPO Note: World’s largest tech IPO since 2014
DISA Limited - 22 June 2018
Initiation: World’s First Fully Digital Asset Protection Technology (Initiation - BUY, TP: S$ 0.02)
Momo Inc - 6 June 2018
Initiation: Momo 8.0: Social Graphing Generation Y (Initiation - BUY, TP: US$ 58.93)
Addvalue Technologies Limited - 7 June 2018
Update: Finally commercialising its flagship technology (Not Rated)
Geo Energy Resources Limited - 4 June 2018
Update: Coal mine site visit; on-track for another record year (Maintain BUY, TP: S$0.300)
Sasseur REIT - 4 June 2018
Company Visit: Visit to Sasseur REIT’s outlet in Chongqing, Hefei & Xi’an (Not Rated)
Accordia Golf Trust - 31 May 2018
4Q18: Unfavourable weather conditions and one-off expenses (Maintain BUY, TP: S$0.700)
Uni-Asia Group Limited - 22 May 2018
1Q18: Upside as trade war averted (Maintain BUY, TP: S$2.00)
Japan Foods Holding Limited - 21 May 2018
4Q18: Scaling new heights; constantly reinventing its restaurants (Maintain BUY, TP: S$0.640)
Cityneon Holdings Limited - 18 May 2018
1Q18: 1Q18 results in line; 4th IP update (Maintain BUY, TP: S$1.54)
ComfortDelGro Corporation Limited - 14 May 2018
1Q18: Positive developments (Maintain BUY, TP: S$2.72)
MindChamps Preschool Limited - 11 May 2018
1Q18: China Expansion Nearing (Maintain BUY, TP: S$0.86)
ayondo Limited - 10 May 2018
1Q18: Improving operational performance (Not Rated)
Sembcorp Marine Limited - 7 May 2018
1Q18: Pure-play on oil industry recovery (Upgrade to BUY, TP: S$2.64)
Manulife US REIT - 2 May 2018
1Q18: 1Q18 results above estimates, albeit lower DPU YoY (Maintain BUY, TP: US$1.02)
ComfortDelGro Corporation Limited - 30 April 2018
Update: Resilience amid disruption; Stable 5% dividend yield (Maintain BUY, TP: S$2.72)
Ezion Holdings Limited - 24 April 2018
Update: Caution still warranted (Maintain SELL, TP: S$0.10)
Accordia Golf Trust - 24 April 2018
Update: Company visit to Nagoya golf courses (Maintain BUY, TP: S$0.78)
Keppel Corporation Limited - 23 April 2018
1Q18: Strength through its diversified business model (Maintain BUY, TP: S$9.43)
Manulife US REIT - 17 April 2018
Update: Acquisition update: Penn & Phipps (Maintain BUY, TP: US$1.01)
MindChamps Preschool Limited - 5 April 2018
Initiation: Nurturing Generation Z: Beyond a Montessori (Initiation BUY, TP: S$0.860)
Sing Holdings Limited - 5 April 2018
Update: Sales of Parc Botannia above expectations (Maintain BUY, TP: S$0.680)
Jiutian Chemical Group Limited - 4 April 2018
Company Visit: Site visit to chemical plants in Henan, China (Not Rated)
Uni-Asia Group Limited - 16 March 2018
Update: Surprise 6.25 cents dividend; Upside from HK property (Maintain BUY, TP: S$1.81)
Frencken Group Limited - 7 March 2018
Update: Share price weakness a chance to accumulate (Upgrade to BUY, TP: S$0.720)
Cityneon Holdings Limited - 5 March 2018
FY17: Fantastic set of results; Growth story still intact (Maintain BUY, TP: S$1.54)
Sembcorp Marine Limited - 26 February 2018
4Q17: Orders are returning but profitablity to remain weak (Maintain HOLD, TP: S$2.06)
Frencken Group Limited - 26 February 2018
4Q17: Results in line; 2.39 SG cents dividend declared (Downgrade to HOLD, TP: S$0.720)
Manulife US REIT - 21 February 2018
Initiation: Pure-play US REIT looking to double AUM in two years (Initiation BUY, TP: US$1.008)
Creative Technology Limited - 15 February 2018
Company Visit: X-Fi technology could open new markets (Not Rated)
Japan Foods Holding Limited - 12 February 2018
3Q18: Stellar results; highest quarterly earnings since IPO (Maintain BUY, TP: S$0.540)
SingTel - 5 February 2018
Update: Testing 5‐year support levels; Attractive dividend yields (Not Rated)
Buy the Dip - 5 February 2018
Note: Buy the Dip on market overreaction
Singapore REITs - 5 February 2018
Note: REITs looking attractive after knee-jerk reaction to spike in 10 year US Treasury yields
Keppel Corporation Limited - 15 December 2017
Update: Diversification strategy paying off (BUY, TP: S$8.670)
Uni-Asia Group Limited - 15 December 2017
3Q17: Well-positioned for growth; opportunity to accumulate (BUY, TP: S$1.850)
First Ship Lease Trust - 13 Decemberr 2017
Update: Sale of 14-year old vessel 55% above our estimates (BUY, TP: S$0.150)
Salesforce.com, Inc - 12 Decemberr 2017
Note: Riding the waves as the #1 CRM solutions provider (Not Rated)
Accordia Golf Trust - 21 November 2017
2Q18: DPU impacted by repayment of membership deposits (Maintain BUY, TP: S$0.780)
Frencken Group Limited - 15 November 2017
3Q17: Opportunity to accumulate (Maintain BUY, TP: S$0.660)
Japan Foods Holding Limited - 15 November 2017
2Q18: Healthy margins and higher dividend payout (Maintain BUY, TP: S$0.530)
Cityneon Holdings Limited - 13 November 2017
Initiation: Conquering the world; one country at a time (Initiation - BUY, TP: S$1.380)
Keppel-KBS US REIT - 6 November 2017
Keppel-KBS US REIT - 6 November 2017
Sembcorp Marine Limited - 2 November 2017
3Q17: Earnings needed to sustain rally; downgrade to HOLD (Downgrade to HOLD, TP: S$2.05)
Samudera Shipping Line Limited - 27 October 2017
3Q17: Profitable and severely undervalued (Maintain BUY, TP: S$0.380)
China Sunsine Chemical Holdings Limited - 26 October 2017
Update: Deep-Value; Robust Growth; Solid-Moat (BUY, TP: S$1.390)
Samudera Shipping Line Limited - 13 October 2017
Update: Positive outlook on near-synchronous global growth (Maintain BUY, TP: S$0.380)
China Sunsine Chemical Holdings Limited - 6 October 2017
Update: Riding high on favourable supply-demand dynamics (Not Rated)
First Real Estate Investment Trust - 5 October 2017
Update: Stable yield buoyed by rising healthcare demand in Indonesia (Not Rated)
ASL Marine Holdings Limited - 28 September 2017
Update: Sailing through one of the worst industry downturns (Not Rated)
Moya Holdings Asia Limited - 26 September 2017
Update: Indonesian infrastructure play (Not Rated)
UOL Group Limited - 15 September 2017
Update: Poised to benefit from residential property upcycle (Not Rated)
Geo Energy Resources Limited - 11 September 2017
Update: Well-positioned to power Asia's growth (BUY, TP: S$0.360)
ValueMax Group Limited - 7 September 2017
Initiation: Fuellling growth through moneylending; benefits from rising gold price (Initiation BUY, TP: S$0.390)
First Sponsor Group Limited - 30 August 2017
Update: Further inroads into the Netherlands to capture growth (Not Rated)
Sing Holdings Limited - 30 August 2017
Update: Riding on recent upturn in property sentiments (BUY, TP: S$0.410)
Halcyon Agri Corporation Limited - 25 January 2018
Company Visit: Proxy for growth in natural rubber demand (Not Rated)
ANTA Sports Products Limited - 11 January 2018
Note: Riding on China’s consumption led growth (Not Rated)
Hong Kong Exchanges & Clearing Limited - 10 January 2018
Note: Exciting times ahead with gradual liberalisation of the Chinese markets (Not Rated)
Fu Yu Corporation Limited - 5 January 2018
Update: Shifting into high gear. 60% of market cap is cash (Not Rated)
ComfortDelGro Corporation Limited - 2 January 2018
Update: Attractive dividend yield; resilience amid disruption (BUY, TP: S$2.24)

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KGI Market Strategy 4Q 2020 Outlook Part 3 - 5 October 2020
KGI Market Strategy 4Q 2020 Outlook Part 3: Our picks to sprint towards the finish line
KGI Technical Analysis: Technical view of Crude Oil, Gold & Silver - 2 October 2020
KGI Technical Analysis: Technical view of Crude Oil, Gold & Silver
KGI Technical Analysis: Technical view of Crude Oil, Gold & Silver - 2 October 2020 (Chinese)
KGI Technical Analysis: Technical view of Crude Oil, Gold & Silver
KGI Market Strategy - 25 September 2020 (Chinese)
KGI Market Strategy: 4Q 2020 Outlook
KGI Market Strategy 4Q 2020 Outlook Part 2 - 22 September 2020
KGI Market Strategy 4Q 2020 Outlook Part 2: Equities and Fixed Income Outlook
KGI Market Strategy 4Q 2020 Outlook Part 1 - 21 September 2020
KGI Market Strategy 4Q 2020 Outlook Part 1: What to watch out for going into the last stretch of 2020
Technical Analysis: Technical view of Crude Oil, Gold & Silver - 4 September 2020
Technical Analysis: Technical view of Crude Oil, Gold & Silver
Technical Analysis: Technical view of Crude Oil, Gold & Silver - 4 September 2020 (Chinese)
Technical Analysis: Technical view of Crude Oil, Gold & Silver
Technical Analysis: Technical view of Crude oil, Gold & Silver - 21 August 2020
Technical Analysis: Technical view of Crude oil, Gold & Silver
Technical Analysis: Technical view of Crude oil, Gold & Silver - 21 August 2020 (Chinese)
Technical Analysis: Technical view of Crude oil, Gold & Silver
Technical Analysis: Technical view of Crude oil, Gold & Silver - 7 August 2020
Technical Analysis: Technical view of Crude oil, Gold & Silver
KGI Market Strategy: 2020年下半年展望——第一部分 - 24 July 2020 (Chinese)
KGI Market Strategy: 2020 年下半年展望——第一部分
Technical Analysis: Technical view of Crude, Gold & Silver, and FTSE China A50 - 17 July 2020
Technical Analysis: Technical view of Crude, Gold & Silver, and FTSE China A50
Technical Analysis: Technical view of Crude, Gold & Silver, and FTSE China A50 - 17 July 2020 (Chinese)
Technical Analysis: Technical view of Crude, Gold & Silver, and FTSE China A50
KGI Market Strategy - 14 July 2020
KGI Market Strategy 2H 2020 Outlook: Looking beyond the current pandemic
U.S. Hospitality Sector Outlook - 14 July 2020
Sector Update: The path to recovery
Technical Analysis: Technical view of Crude oil and Gold & Silver - 26 June 2020
Technical Analysis: Technical view of Crude oil and Gold & Silver
Technical Analysis: Technical view of Crude oil and Gold & Silver - 26 June 2020 (Chinese)
Technical Analysis: Technical view of Crude oil and Gold & Silver
Technical Analysis: Technical view of S&P 500, Brent, Gold & Silver - 12 June 2020
Technical Analysis: Technical view of S&P 500, Brent, Gold & Silver
Tourism and Leisure Sector - Trip.com (TCOM US) and ETFMG Travel Tech (AWAY US) - 22 May 2020
Industry Report: Bottom fishing for cyclical stocks: Part 2
U.S. Hospitality Sector Outlook - 14 May 2020
Sector Update: Winners to emerge stronger
Oil & Gas Sector - CNOOC (883 HK) - 8 May 2020
Industry Report: Bottom fishing for cyclical stocks: Part 1
Oil & Gas Sector - CNOOC (883 HK) - 8 May 2020 (Chinese Version)
Industry Report: Bottom fishing for cyclical stocks: Part 1
KGI S-REITs Update - 28 April 2020
KGI S-REITs Update: A lesson to stick to quality REITs
KGI Market Strategy - 24 April 2020 (Chinese Version)
Commodities Oil: After negative oil prices, upside going forward is a trading opportunity
KGI Market Strategy - 23 April 2020
Commodities Oil: After negative oil prices, upside going forward is a trading opportunity
KGI Singapore 9M 2020 Outlook - 17 April 2020 (Chinese Version)
KGI Singapore 9M 2020 Outlook: Bottom for Singapore equities
KGI Singapore 9M 2020 Outlook; Summarised - 15 April 2020
KGI Singapore 9M 2020 Outlook: Bottom for Singapore equities; Summarised
KGI Market Strategy - 13 April 2020
KGI Market Strategy: 9M 2020 Outlook: Bottom for Singapore equities
KGI Market Strategy - 27 March 2020
KGI Market Strategy - Gold: Hedge against incoming Dollar flood
KGI Market Strategy - 27 March 2020 (Chinese Version)
KGI Market Strategy - Gold: Hedge against incoming Dollar flood
KGI Singapore REITS Watchlist – Top Picks - 25 March 2020
KGI Market Strategy: KGI Singapore REITS Watchlist – Top Picks
KGI REITs Watchlist - 23 March 2020
KGI Market Strategy: KGI Singapore REITS Watchlist
KGI Market Strategy - 13 March 2020
KGI Market Strategy: Crude oil: Price war - Optimal strategy under the prisoners’ dilemma
KGI Market Strategy - 13 March 2020 (Chinese Version)
KGI Market Strategy: Crude oil: Price war - Optimal strategy under the prisoners’ dilemma
KGI Market Strategy - 6 March 2020
KGI Market Strategy: Perfect storm: Encountering black swans and grey rhinos (Part One)
KGI Market Strategy - 6 March 2020 (Chinese Version)
KGI Market Strategy: Perfect storm: Encountering black swans and grey rhinos (Part One)
KGI Market Strategy - 21 February 2020
KGI Market Strategy: Collateral damage: Japan and South Korea
KGI Market Strategy - 21 February 2020 (Chinese Version)
KGI Market Strategy: Collateral damage: Japan and South Korea
KGI Market Strategy - 14 February 2020
KGI Market Strategy - Two different worlds: Part Two
KGI Market Strategy - 14 February 2020 (Chinese Version)
KGI Market Strategy - Two different worlds: Part Two
KGI Market Strategy - 7 February 2020
Two different worlds: Part One
KGI Market Strategy - 7 February 2020 (Chinese Version)
Two different worlds: Part One
Market Strategy - 22 January 2020
Market Strategy: Taking some risk off before the holidays
Market Strategy - 22 January 2020 (Chinese Version)
Market Strategy: Taking some risk off before the holidays
KGI Securities 2020 Outlook
10 Conversations for 2020
Market Strategy - Equities; Precious Metals - 29 November 2019
Trading Strategy: Risky December
Automobile Industry Report Part 2 - 15 November 2019
Sector Report: Automobile
Automobile Industry Report Part 1 - 11 November 2019
Sector Report: Automobile
Natural Gas - 25 October 2019
Commodities: Natural Gas
Precious Metals - 18 October 2019
Commodities: Precious Metals
KGI Weekly Strategy: 14 October 2019
China Shipping and Ports: Potential winners from easing trade tensions
KGI High Dividend Watchlist: 7 October 2019
KGI Singapore High Dividend Watchlist (Ex-REITs)
Inverse Exchange Traded Funds - 3 October 2019
Inverse Exchange Traded Funds: A Gathering Storm
U.S. Hospitality Sector Outlook - 2 October 2019
Resilience underpinned by domestic consumption; Fears of trade war overplayed
Crude Oil - 20 September 2019
Commodities: Dramatic week: between ice and fire
Precious Metals - 13 September 2019
Commodities: Gold and Silver Shine
KGI High Dividend Watchlist: 17 July 2019
KGI Singapore High Dividend Watchlist (Ex-REITs)
KGI High Dividend Watchlist: 4 July 2019
KGI Singapore High Dividend Watchlist (Ex-REITs)
KGI High Dividend Watchlist: 13 June 2019
KGI Singapore High Dividend Watchlist (Ex-REITs)
Tactical Play: US Luxury Market
LVMH’s share price rally signals buoyant luxury consumption by the Chinese
KGI REITs Watchlist
(CapitaLand Commercial Trust / Mapletree Commercial Trust / CapitaLand Mall Trust / Frasers Centrepoint Trust / Mapletree Industrial Trust / Mapletree Logistics Trust / Keppel DC REIT / Ascendas Hospitality Trust / Far East Hospitality Trust)
Tactical Play: US Luxury Market
Easing trade war tensions and resilient global luxury consumption
S-REITs Outlook 2019: Accumulative phase as interest rate risks deflates
CapitaLand Commercial Trust / Mapletree Commercial Trust / CapitaLand Mall Trust / Frasers Centrepoint Trust / Keppel DC REIT / Mapletree Logistics Trust / Mapletree Industrial Trust / Far East Hospitality Trust
Singapore Strategy: Potential beneficiaries of GLP's privatisation
CapitaLand / Wheelock Properties Spore / Wing Tai Hldgs / Ho Bee Land / Mapletree Commercial Trust / Yanlord Land
Offshore & Marine: Positive signs in offshore & marine sector
Ezion (SELL, TP: S$0.20) / Keppel Corporation (HOLD, TP: S$6.50) / Nam Cheong (HOLD, TP: S$0.07) / Pacific Radiance (HOLD, TP: S$0.17) / Sembcorp Marine (HOLD; TP: S$1.63)
Offshore & Marine: Yards - Trough valuations with limited downside
Keppel Corporation (Upgrade to BUY; TP: S$5.93) / Sembcorp Marine (HOLD; TP: S$1.39) / Triyards Holdings (BUY; TP: S$0.43)
Healthcare Services: Healthy sector but wait for price weakness to buy
IHH Healthcare / Raffles Medical Grp / Q&M Dental
Offshore & Marine: Improving fundamentals in oil markets
Nam Cheong (Upgrade to BUY; TP: S$0.11) / Pacific Radiance (Upgrade to BUY; TP: S$0.40) / Keppel Corporation (HOLD; TP: S$5.60) / Triyards Holdings (BUY; TP: S$0.55)