The Assembly Place Continues Portfolio Expansion; Unveils Singapore’s First AI-Powered Co-Living Development with Dedicated AI Lab

Geo Energy: The Group’s fundamentals remain strong. Our current production, logistics, customer relationships, and export activities continue as normal. We continue to make steady progress on our MBJ Integrated Infrastructure, with successful truck trials completed last week and on track to commence operations in the second half of 2026. Coal prices remain strong, with ICI4 at US$64.43 per tonne as of 22 May 2026. The Group will continue to execute its growth strategy and operational plans in a disciplined manner while remaining agile and responsive to evolving regulatory and policy developments.

Following a 27% fall in the stock's price recently, Lim & Tan Securities today maintains a bullish stance on Geo, pointing to a disconnect between the company's current share price (47 cents) and its intrinsic value.

The brokerage highlighted that the consensus target price stands at S$0.93.

Lim & Tan's investment thesis is rooted in the company's financial metrics and massive infrastructure assets.

Geo Energy currently has a market capitalization of S$890 million, trading at attractive multiples of 10x forward PE and 1.1x PB, along with a dividend yield of 0.8%.

Lim & Tan points out that "Geo continues to benefit from elevated coal prices."

https://www.nextinsight.net/story-archive-mainmenu-60/949-2026/16727-geo-energy-a-value-play-amidst-shifting-indonesian-export-policies-says-broker

Geo Energy: Insider Purchases by Independent Director, Vincent Tai:
https://geoenergy.listedcompany.com/newsroom/20260525_173348_RE4_EYO5B4HZQZQ1PVQT.1.pdf

Skylink Holdings Continues Growth Momentum;
Posts Strong Post-RTO Performance in Inaugural Full-Year Results;
Proposed Dividend of 0.55 SG cents per Share

Lincotrade Secures New Projects with
an Aggregate Contract Value of S$16.8 Million in 3Q2026;
Order Book Strengthens to S$107.0 Million
• Secured 7 new commercial projects in Singapore with an aggregate contract value of S$16.8 million (including a public sector project with a contract value of S$8.2 million) during the period from 1 January 2026 to 31 March 2026.
• Outstanding order book strengthened to S$107.0 million as at 31 March 2026, providing healthy revenue visibility over the next two years.
• New Tuas Facility is expected to enhance operational efficiency with dormitory operations creating additional recurring income opportunities.

The Assembly Place and TS Home to Transform the Historic Phoenix Park in the Tanglin Enclave into Singapore’s Largest Community Living Destination with an Integrated Wellness, F&B, and Sports Lifestyle Ecosystem

- This Phoenix Park site is set to be transformed into Singapore’s largest co-living destination, with over 700 keys, alongside an integrated wellness, F&B, and sports lifestyle ecosystem, representing the most ambitious co-living sector development in Singapore to date.

- Reinforcing TAP’s asset-light, co-investment strategy, this joint venture marks TAP’s third major collaboration with TS Home, following previous projects including Singapore’s first intergenerational co-living residence at the former Henderson Primary School, alongside three MOHH-related sites for foreign healthcare professionals' accommodation.

- Together with TAP’s existing operational portfolio of over 3,400 keys across 100 locations and close to 1,500 keys in the pipeline, the addition of Phoenix Park (over 700 keys) further strengthens the Group’s trajectory towards its target of 10,000 keys by end-2030.

The Assembly Place and TS Home to Transform the Historic Phoenix Park in the Tanglin Enclave into Singapore’s Largest Community Living Destination with an Integrated Wellness, F&B, and Sports Lifestyle Ecosystem

With such high coe prices for commercial vehicles, SMEs will likely lease instead of outright purchase, which potentially will be a boost to Skylink Holding’s commercial leasing business. 🌈

*Beng Kuang Marine (BKM SP/BUY/TP S$0.75)*
By Heidi Mo UOBKH

_US$28.6m Contract Win Flows 100% To Bottom Line_

- *Contract: US$28.6m* across two West Africa FPSOs, providing tank services over 12 months
- ⁠*ASOM:* 100% consolidation completed 28 May. Full earnings now flow to BKM shareholders

Recall that 2025 Africa IE revenue was S$0.8m. This indicates that demand was deferred, not lost.

Also, tank services are the early phase of the multi-year lifecycle and we expect this to follow through in 2027.

At S$0.49 or 9x 2027F PE, there is still room for upside in our view. Our TP of S$0.75 is pegged to 14x 2027F PE.

*Indonesia to scale back commodity export centralisation, tighten monitoring: Sources*

https://www.straitstimes.com/asia/se-asia/indonesia-to-scale-back-commodity-export-centralisation-tighten-monitoring-sources

- Indonesia to scale back its earlier plan to centralise exports of key commodities such as coal and palm oil under a state-linked entity, after pushback from exporters and buyers over market disruption risks.

- Instead, the government will move toward tighter monitoring of export pricing and shipments to curb under-invoicing and tax leakage. Exporters may be required to justify pricing and revise declared values if they fall below market levels.

- The proposed export-trading body (DSI) will now act mainly as an oversight and pricing-monitoring entity rather than a sole exporter, charging only a small administrative fee.

- The shift marks a retreat from a more interventionist model that had triggered market concerns, with officials emphasising the aim is to improve transparency and recover lost revenues while preserving normal trade flows.