Brokers' take: SIAEC, SingPost, Singtel among CGS-CIMB's top reopening picks 

AS Singapore anticipates the major easing of pandemic curbs on Tuesday (Apr 26), all eyes are on sectors that benefit the most – namely, retail and office landlords, transport and tourism-related Singapore-listed counters.

Among reopening plays, CGS-CIMB has chosen SIA Engineering , Singtel , and Singapore Post as its preferred picks.

When it comes to retail and hospitality trusts, the research team’s top picks are CapitaLand Integrated Commercial Trust (CICT), Lendlease Global Commercial Reit and Ascott Residence Trust (ART).

“We continue to like stocks that are exposed to the relaxation of domestic safe management measures and reopening of borders,” CGS-CIMB said in a research note on Monday (Apr 25).

Allowing more workers to return to the workplace should bolster foot traffic at downtown malls, as well as boost ridership on public transport. This will benefit retail and office landlords like CICT, Lendlease Reit, SPH Reit , Starhill Global Reit and Keppel Reit , as well as transport operators like ComfortDelGro and public bus operator SBS Transit .

Removing the 75 per cent capacity limit for mask-on events with more than 1,000 people should also be a positive move for hospitality trusts and Suntec Real Estate Investment Trust – which holds a 66.3 per cent stake in Suntec Singapore Convention and Exhibition Centre.

In contrast, healthcare providers like Raffles Medical Group and Q&M Dental Group may face some downside risks to contributions from Covid-19 services as free community ART testing and testing at combined test centres and quick test centres cease amid declining cases. This will be partly mitigated by pre-event ART testing as nightlife businesses and outbound travel resume, CGS-CIMB said.

Lastly, the axing of pre-departure test requirements for fully-vaccinated travellers into Singapore should attract more tourists. This will augur well for tourism-related stocks such as SATS , Singapore Airlines , SIA Engineering, CDL Hospitality Trusts , Far East Hospitality Trust , ART and Genting Singapore .

Telcos like Singtel and StarHub will also stand to gain. CGS-CIMB likes Singtel for its potential earnings rebound, driven by higher associate earnings and post-Covid-19 roaming revenue recovery in Singapore.

SingPost, meanwhile, could see its international post and parcel segment recover in terms of volume and margins.