Global Investments Limited · SGX:B73
Global Investments — H1 2026 Earnings Presentation
24 slides from Global Investments's earnings presentation, August 2026
Slide 1: Global Investments Limited 2026 Half Year Results
Global Investments Limited 2026 Half Year Results Period ended 30 June 2026
Slide 2: Disclaimer
DISCLAIMER Information contained in this presentation is intended solely for your personal reference and is strictly confidential. Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning Global Investments Limite
Slide 3: Agenda
AGENDA 1. Financial Data for 1H 2026 2. Corporate Overview 3. Portfolio Overview 4. Market Overview 5. Company Outlook 3
Slide 4: Net asset value per share and cumulative NAV performance
1. Financial Data for 1H 2026 Net asset value per share 30 Jun ‘26 31 Dec ‘25 Change Remarks (%) Net asset value per 0.1643 0.1682 As of 30 June 2026, the Company’s net asset value (NAV) share (S$ per share) per share was 16.43 cents, after the FY2025 final dividend 0.1690 0.49 payment (S$0.004/shar
Slide 5: Financial Data for 1H 2026: Income
1. Financial Data for 1H 2026 Income 1H ‘26 1H ‘25 Change Remarks S$’m S$’m (%) Dividend income 0.5 0.7 (28.6) The Company reported an income of S$3.6 million in 1H 2026 compared to S$4.3 million recorded in the same period last year. Interest income 5.5 5.2 5.8 The difference was largely attributab
Slide 6: Financial Data for 1H 2026: Expenses
1. Financial Data for 1H 2026 Expenses 1H ‘26 1H ‘25 Change Remarks S$’m S$’m (%) Management fees 1.1 1.1 - Expenses for the half year ended 30 June 2026 remained the same. Incentive fees - - - Other operating (1.0) (1.0) - expenses Total expenses 2.1 2.1 - Profit before tax 1.4 2.3 (39.1) Income ta
Slide 7: Total comprehensive income, EPS and interim dividend
1. Financial Data for 1H 2026 Total comprehensive income 1H ‘26 1H ‘25 Change Remarks S$’m S$’m (%) Total comprehensive income 1.4 2.2 (36.4) Total comprehensive income for the Company was a gain of for the period attributable to S$1.4 million in 1H 2026 compared to a gain of S$2.2 million sharehold
Slide 8: Statement of Financial Position
1. Financial Data for 1H 2026 Statement of Financial Position As at As at Change 30 Jun ‘26 31 Dec ‘25 Remarks % S$’m S$’m Assets Non-current assets Financial assets at fair value through Comprised investments in Additional Tier 1, Tier 2, 210.2 206.4 1.8 profit or loss Other Bonds and CLOs maturing
Slide 9: Statement of Financial Position (cont'd)
1. Financial Data for 1H 2026 Statement of Financial Position (cont’d) As at As at Change 30 Jun ‘26 31 Dec ‘25 Remarks % S$’m S$’m Liabilities Current liabilities Lease Liabilities 0.1 0.1 - Comprised fees payable to the Manager, unsettled trades payable and Other liabilities 1.4 1.4 - accrual of o
Slide 10: Agenda
AGENDA 1. Financial Data for 1H 2025 2. Corporate Overview 3. Portfolio Overview 4. Market Overview 5. Company Outlook 10
Slide 11: Corporate Overview: 2026 Annual General Meeting
2. Corporate Overview ❑ 2026 Annual General Meeting (2026 AGM) ❑ The 2026 AGM was held on Tuesday, 29 April 2026 at 10.00 a.m. at 60 Cecil Street, ISCA House, Level 4, Function Room 4-2/4-3, Singapore 049709. The Notice of AGM and AGM related documents were announced via SGXNet and GIL’s website on
Slide 12: Corporate Overview: FY2025 Final and FY2026 Interim Dividend
2. Corporate Overview ❑ FY 2025 Final Dividend ❑ The Scrip Dividend Scheme (Scheme) was applied to the FY2025 Final Dividend of S$0.004 per share and the subscription rate under the Scheme was 65.1%. ❑ On 26 June 2026, the Company transferred 35,630,675 treasury shares for the allotment of shares un
Slide 13: Agenda
AGENDA 1. Financial Data for 1H 2025 2. Corporate Overview 3. Portfolio Overview 4. Market Overview 5. Company Outlook 13
Slide 14: Portfolio Composition (By Asset Class)
3. Portfolio Composition (By Asset Class*) Change In As At 30 June As At 31 Percentage Asset Class 2025 December 2024 Point % % % Listed Equities 18.7 17.9 ▲ 0.8 Additional Tier 1 22.0 23.6 ▼ 1.6 Tier 2 16.4 17.1 ▼ 0.7 Other Bonds 21.5 20.5 ▲ 1.0 CLOs 11.0 7.1 ▲ 3.9 Cash and Other Net 10.4 13.8 ▼ 3.
Slide 15: Portfolio Composition (By Currency Exposure)
3. Portfolio Composition (By Currency Exposure*) As At 30 June As At 31 Change In Currency 2025 December 2024 Percentage Point % % % SGD 27.8 28.5 ▼ 0.7 USD 32.4 33.0 ▼ 0.6 CNH/CNY 16.2 16.1 ▼ 0.1 HKD 13.1 12.2 ▲ 0.9 EUR 6.1 6.4 ▼ 0.3 AUD 2.7 2.5 ▲ 0.2 Others 1.7 1.3 ▲ 0.4 Total 100.0 100.0 - * Perc
Slide 16: Agenda
AGENDA 1. Financial Data for 1H 2025 2. Corporate Overview 3. Portfolio Overview 4. Market Overview 5. Company Outlook 16
Slide 17: Market Overview: AT1 and Tier 2 Bonds
4. Market Overview ❑ Additional Tier 1 (AT1) and Tier 2 Bonds ❑ As the Euro area inflation rate is consistently hovering around 2.0%, the European Central Bank (ECB) had announced 4 rate cuts in 1H 2025. Euro area economic growth remained sluggish. Depending on the outcome of the ongoing trade negot
Slide 18: Market Overview: AT1 and Tier 2 Bonds
4. Market Overview ❑ Additional Tier 1 (AT1) and Tier 2 Bonds ❑ The bank fundamentals of most European Banks remained stable given their stronger capitalization over the years. However, Tier 2 supply may be limited to refinancing deals in 2H 2025, given their sound MREL ratios and muted RWA growth.
Slide 19: Market Overview: Other Bonds and CLOs
4. Market Overview ❑ Other Bonds and Collateralised Loan Obligations ❑ In 1H 2025, U.S 10-year Treasury yields fell 34bps to 4.24% while 2-year yields fell 53bps to 3.72%. The Singapore sovereign yield curve continued to experience a bull steepening, as 10-year yields fell 66bps to 2.20% while 2-yea
Slide 20: Market Overview: Other Bonds and CLOs
4. Market Overview ❑ Other Bonds and Collateralised Loan Obligations ❑ In 1H 2025, the Bloomberg Global High Yield Total Return Index rose 6.8% [-0.1% in SGD terms]. Investment grade (“IG”) bonds outperformed high yield (“HY”) in 1H 2025 as the equivalent IG index rose 7.3% [+0.3% in SGD terms]. Spe
Slide 21: Market Overview: Listed Equities
4. Market Overview ❑ Listed Equities ❑ In the World Economic Outlook report published in July 2025, the International Monetary Fund (“IMF”) projected global GDP growth at 3.0% for 2025, higher than the reference forecast of 2.8% in the April 2025 report, though still below the historical average of
Slide 22: Market Overview: Listed Equities
4. Market Overview ❑ Listed Equities ❑ During 1H 2025, emerging markets outperformed developed markets with SGD total returns of MSCI Emerging Markets Index at 7.53% compared to MSCI World Index which grew 2.16%. ❑ The SGD total returns for MSCI All Country World Index was 2.69% and 9.48% over the p
Slide 23: Agenda
AGENDA 1. Financial Data for 1H 2025 2. Corporate Overview 3. Portfolio Overview 4. Market Overview 5. Company Outlook 23
Slide 24: Company Outlook
5. Company Outlook ❑ Future Direction and Growth Strategy of GIL ❑ To grow its assets and seek new investments that will generate steady income and potential appreciation in capital to deliver regular dividends and achieve capital growth. ❑ Active management of GIL’s assets with focus on optimising