CGS International has released a new report, “Make Singapore Great Again – Value Up A-Z chart book,” forecasting a positive outlook for Singapore’s equity market. The report, authored by Chua Wei Ren, Lim Siew Khee, and William TNG, anticipates improved trading liquidity and a narrowing of valuation discounts, driven by the Singapore government’s S$5bn Equity Market Development Programme (EQDP).
The report identifies 23 Singapore-listed stocks that are trading below 10x price-to-earnings (P/E) or 1x price-to-book value (P/BV), suggesting potential upside. These stocks have shown strong bullish rebounds and are forming early to mid-uptrends, with momentum expected to continue over the next six to 12 months. Investors are advised to consider accumulating shares on dips or positioning for potential breakout levels, especially in stocks with attractive valuations and improving fundamentals.
Among the highlighted stocks are Asian Pay Television Trust and Aztech Global Ltd. Asian Pay Television Trust, a cable operator, has maintained a stable dividend yield of around 10% and is trading below its net asset value per share. Aztech Global Ltd, in the electronic equipment sector, is in an early uptrend with a target price of S$1.020.
The report underscores the strategic importance of the EQDP in enhancing Singapore’s market competitiveness and attractiveness to investors. As the programme unfolds, it is expected to bolster the market’s overall performance and investor confidence.
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