Market Snapshot
Singapore stocks opened lower on Thursday. STI fell 0.2%; NIO rose 3%; Wilmar rose 1%; OCBC and UOB fell 0.4%; DBS fell 0.2%.
Stocks in Focus
Keppel Reit: The manager of the real estate investment trust (Reit) announced on Thursday that the private placement to raise about S$113 million for the acquisition of Top Ryde City Shopping Centre in Sydney, Australia, has closed. The issue price per unit was S$0.983, about a 4.6% discount to the volume-weighted average price of S$1.0304 per unit of all trades from Tuesday until the agreement was signed on Wednesday. The trading of the new units is expected to commence on Oct 17. Units of Keppel Reit finished Tuesday flat at S$1.03, before the manager called for a trading halt on Wednesday morning. The counter resumes trading on Thursday.
OUE Reit: Its wholly owned subsidiary OUE Reit Treasury has issued its second seven-year investment-grade green notes, the manager said on Wednesday. The offering, announced on Sep 29, garnered a peak order book of S$412.8 million, representing an oversubscription rate of 2.8 times. The initial price guidance was 3.05% and the final pricing was 2.75%. Units of OUE Reit closed on Wednesday at S$0.345, down by S$0.005 or 1.4%, before the news.
SG Local News
Singapore Firms to Keep 2026 Salary Growth Steady Despite High Staff Turnover: Survey
Singapore companies are keeping a tight rein on salary hike in 2026, even as their turnover levels remain among the highest in South-east Asia, according to a new survey.
Professional services firm Aon found that companies here are budgeting a 4.3% salary increase in 2026 – the same as the actual growth this year.
Conducted from July to September, Aon’s latest Salary Increase and Turnover Survey covered over 700 companies and their regional offices across more than 15 industries in Singapore, Indonesia, Malaysia, Thailand, Vietnam and the Philippines.
Across sectors, life sciences and medical devices firms in Singapore are expected to offer the largest pay bump at 4.6%.
COE Premium for Category A Hits High of S$128,105 in Another Record
The Certificate of Entitlement (COE) premium for Category A cars rose to a new high of S$128,105 (US$98,904) on Wednesday (Oct 8), setting a third consecutive record.
Premiums for most other categories also went up at the close of the bidding exercise.
The largest increase was in Category A, which is for smaller cars. The premium rose by about S$9,100 from S$119,003 in the last exercise.
Prices for larger and more powerful cars in Category B rose from S$136,890 to S$141,000
Open category COEs, which are mainly used for large cars, fell to S$140,009 from S$140,502.
COEs for commercial vehicles, which include goods vehicles and buses, increased from S$72,501 to S$74,301.
Motorcycle premiums closed at S$9,810, up from S$9,209 in the last tender.
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