Theses
Explore our independent analyses of businesses listed on the Singapore Exchange (SGX).
Views are internal and do not constitute investment or financial advice.
June 2026
- DBS Initial ThesisWonderful banking franchise purchased at approximately fair value, with a current emphasis on shareholder returns rather than earnings acceleration.→
- Centurion Initial ThesisStrong specialised student and worker accommodation business purchased at a modest discount to medium-term intrinsic value during a transitional period.→