Morning update ⏰ 🇸🇬 Equity Picks: Add 2 EQDP beneficiaries ...

Morning update ⏰

🇸🇬 Equity Picks: Add 2 EQDP beneficiaries

We highlight 2 potential beneficiaries of MAS’ SGD5bn Equity Market Development Programme (EQDP), set to shortlist fund managers by 3Q. They are picked for their < SGD3bn market cap, earnings growth potential, and low research coverage. Find out who they are.

https://go.dbs.com/43VfCen

♟️How to position as 50% EU tariff threat checks STI upside

While the renewed tariff threat is seen as a negotiation tactic, what’s concerning is the fading credibility in the 90-day truce, raising the risk of higher tariffs than 'Liberation Day' if US demands aren’t met. We expect the STI to trade rangebound, with resistance near 3865 and support at 3808 and 3750. Find out which names we like.

https://go.dbs.com/43VfCen

😨 SATS: FY26F a temporary hurdle

FY25 net profit was in line with our estimate and slightly above consensus. Cargo saw some relief with the US tariff suspension, but remains fragile, likely to weigh on FY26F. We reduced FY26F/27F earnings forecasts due to trade contraction and limited opportunities for trade diversion. Have we changed our target price?

https://go.dbs.com/4kFXSKH