CGS International analyst William Tng has lowered his target price estimate on Frencken Group to $1.15 from $1.40 due to the US tariff-induced uncertainties.

About 9% of Frencken's sales are shipped from Singapore, which is likely going to be subjected to the baseline 10% tariffs after the 90-day pause ends, Tng notes.

The remaining 91% of the group's sales are for locally-based customers or non-US destinations, he adds. At present, Frencken's customers are bearing most of the tariffs, if applicable, and there are minimal export sales from Frencken's factories in China into the US, the analyst continues.