| Symbol | Company | Pick history | Pick price | % Return at exit | Action | Sectors | Industries | Incentive | Rationale | hf:tax:sector |
|---|---|---|---|---|---|---|---|---|---|---|
| V03.SI | Venture Corporation Limited | 02/01/2026 | S$15.14 | 8.0% | Removed | Technology | Hardware, Equipment & Parts | Growth challenges amid valuation concerns | • Rotated out as other opportunities show stronger growth-to-valuation metrics. • Eight consecutive quarters of revenue decline, with latest figures showing a 7.5% year-over-year drop and EBITDA falling by ~9.6%. • Current P/E of 20.1 appears stretched given negative growth trajectory, with price exceeding analyst fair value targets (16.44 SGD vs 14.49 SGD target). • Facing significant headwinds from tariff uncertainties that could impact ~25% of revenue, alongside weakening demand in core markets. • Still maintains solid fundamentals with 26.8% gross margin and attractive 4.6% dividend yield, while showing strong recent price momentum (31.7% over six months). • This change reflects portfolio rotation based on relative metrics, not a sell signal. | technology |
| A7RU.SI | Keppel Infrastructure Trust | 02/01/2026 | S$0.52 | Live | Added | Basic Materials | Chemicals - Specialty | High Yield With Strong Growth Momentum | • Keppel Infra REIT shines with exceptional market performance, delivering impressive returns across all timeframes (1-month: 6.1%, 3-month: 13%, 6-month: 22.2%, 1-year: 22.9%). • Offers an attractive 7.5% dividend yield with stable growth, trading at a reasonable valuation (P/E: 21.5) with a remarkably low PEG ratio of 0.12, indicating growth potential at value pricing. • Demonstrated excellent financial discipline through proactive debt management, having already refinanced all 2025 obligations. • Strategic expansion into digital infrastructure via the Global Marine Group acquisition positions the REIT for future growth, with projected 4.6% DPU accretion. • Strong operational performance with 18.4% revenue growth and 31.6% EBITDA growth, supported by positive analyst sentiment including recent "buy" ratings. | basic-materials |
| CC3.SI | StarHub Ltd | 02/01/2026 | S$1.14 | Live | Added | Communication Services | Telecommunications Services | Value Telecom With Strong Dividend | • Our ML engine identified Starhub Ltd as a compelling buy opportunity based on favorable market positioning, attractive valuation, and solid financial stability. • With a generous 5.4% dividend yield and trading at 1.15 SGD (near analyst fair value targets of 1.18 SGD), Starhub offers significant income potential at a reasonable valuation (P/E ratio of 15.3). • The company's strategic transformation is bearing fruit with projected 10% earnings growth in FY2026, driven by cost savings initiatives targeting 60 million SGD over 2026-2028. • Enterprise business segment shows exceptional momentum (14.1% revenue growth in FY2024), while mobile subscribers have increased 8.2% to 2.14 million, demonstrating strong market execution despite competitive pressures. • Regional expansion across ASEAN markets and the DARE+ digital ecosystem initiative position Starhub for sustainable long-term growth beyond traditional telecom services. | communication-services |
| ME8U.SI | Mapletree Industrial Trust | 02/01/2026 | S$2.11 | Live | Added | Real Estate | REIT - Industrial | Value Play with Strong Balance Sheet | • Mapletree Industrial Trust presents an attractive valuation opportunity with a P/B ratio of just 1.18 and significant upside potential (current price: 2.11 SGD vs. InvestingPro fair value: 2.84 SGD). • The REIT demonstrates solid market performance with positive returns across all timeframes (1-year: 5.44%, 6-month: 7.81%) while offering a substantial 6.15% dividend yield. • Recent strategic divestments at premium prices (2.6% above valuation) have strengthened the balance sheet, reducing leverage from 40.1% to a healthier 37.3% and lowering borrowing costs to 3.0%. • The trust's portfolio is well-positioned in growth sectors with data centers now comprising 58.3% of assets, while Singapore properties enjoy positive rental reversions of 7.1%. | real-estate |
| NS8U.SI | Hutchison Port Holdings Trust | 02/01/2026 | S$0.16 | 61.2% | Removed | Industrials | Marine Shipping | Valuation and volatility concerns amid trade uncertainties | • Rotated out as model identified more favorable port/shipping opportunities amid global trade headwinds. • P/E ratio of ~20x appears stretched considering the challenging business outlook, with analyst fair value targets ($0.20) below current price ($0.23). • Despite attractive 7% dividend yield, concerning dividend sustainability with recent negative growth (-3.3%) signals potential distribution challenges. • Balance sheet concerns highlighted as liabilities significantly exceed readily available cash, creating financial flexibility constraints. • Company faces heightened operational uncertainty from global trade tensions, tariff impacts, and ongoing Red Sea shipping disruptions. • Maintains solid fundamentals with strong operating margins (~39%) and robust EBITDA growth (19%), suggesting potential for future reconsideration. This change reflects portfolio rotation, not a sell signal. | industrials |
| AIY.SI | iFAST Corporation Ltd. | 02/01/2026 | S$8.88 | 18.7% | Removed | Technology | Software - Application | Stretched valuation amid growth concerns | • Rotated out in favor of opportunities with stronger valuation-to-growth profiles • Trading at a P/E of ~38 despite recent share price volatility, including an 8% single-day drop in August 2025 after Temasek's subsidiary significantly reduced its stake • Notable insider selling trend over recent months signals potential caution from those closest to the business • April 2025 profit guidance revision for Hong Kong operations (12% share price drop) raises questions about sustainability of the 29% revenue growth • Company maintains solid fundamentals with impressive EBITDA growth (~52%) and strong dividend growth (36%), suggesting potential for future reconsideration • This change reflects portfolio rotation based on relative metrics, not a sell signal | technology |
| CJLU.SI | NetLink NBN Trust | 01/01/2026 | S$0.96 | Live | Added | Communication Services | Telecommunications Services | Stable Growth with Attractive Yield | • Our ML engine identified NetLink NBN Trust as a compelling buy based on exceptional market performance (17.6% 1-year return), attractive valuation, and low volatility characteristics. • The stock demonstrates strong upside potential, trading at 0.96 SGD versus analyst fair value targets of 1.03 SGD, while offering an impressive 5.6% dividend yield with consistent growth (1.7% increase). • Financial stability is evident through extraordinary profitability metrics (81% gross margin, 70.8% EBITDA margin) and conservative debt management (28.3% gearing ratio). • The company's strategic infrastructure investments, including the new 110 million SGD Seletar Central Office, position it perfectly to capitalize on Singapore's Smart Nation 2.0 initiatives and growing demand for high-speed connectivity. • Multiple research houses (DBS, Maybank, OCBC, UOB Kay Hian) maintain "BUY" ratings, confirming our algorithm's conviction. | communication-services |
| H02.SI | Haw Par Corporation Limited | 01/01/2026 | S$15.20 | 3.2% | Removed | Healthcare | Drug Manufacturers - General | Valuation concerns after strong rally | • Rotated out as other opportunities show stronger near-term potential following Haw Par's impressive 57% one-year run. • Stock is trading near its 52-week high (98.25%) with recent momentum cooling (weekly return of -0.7%), suggesting potential for increased volatility. • PEG ratio of 2.0 indicates the stock may be relatively expensive compared to its growth rate, despite trading below analyst fair value estimates. • Management has cautioned about "weaker consumer spending" affecting operating businesses, while EBITDA declined by 2% over the last twelve months. • Strong fundamentals remain intact with healthy margins (56% gross profit, 26% operating) and solid revenue growth of ~6%. This change reflects portfolio rotation, not a sell signal. | healthcare |
| H22.SI | Hong Leong Asia Ltd. | 01/01/2026 | S$2.46 | -2.4% | Removed | Consumer Cyclical | Auto - Manufacturers | Margin pressure amid governance concerns | • Rotated out as our model identified stronger alternatives in the industrial sector • Recent 3-month return of -5.9% lags peers despite strong yearly performance (173%) • Thin operating margin of 1.9% and declining EBITDA (-5.3%) signal profitability challenges despite healthy revenue growth of ~13% • Executive detentions at 48.7%-owned China Yuchai subsidiary introduce governance uncertainties and potential regulatory complications • P/E ratio of 19.1 appears relatively expensive given the profitability metrics and operational risks • Still demonstrates strengths in revenue growth (25.7% quarterly) and impressive dividend growth (150%), suggesting fundamental business resilience • This change reflects portfolio rotation based on relative metrics, not a sell signal | consumer-cyclical |