Market Snapshot
Singapore stocks opened higher on Thursday. STI rose 0.1%; Sabana Reit rose 4%; Digital Core Reit rose 2%; Yangzijiang Shipbuilding rose 1%.
Stocks in Focus
Mapletree Pan Asia Commercial Trust (MPACT): It posted a rise in distribution per unit (DPU) to 2.01 Singapore cents for its second quarter ended Sep 30, from 1.98 cents for the same period a year earlier. This was mainly driven by higher contributions from Singapore properties, its manager said. This, it noted, was despite the absence of income from Mapletree Anson following its divestment in July 2024. Revenue slipped 3.2 per cent to S$218.5 million from S$225.6 million, largely due to weaker overseas contributions. Units of MPACT closed unchanged at S$1.46 on Wednesday.
Frasers Centrepoint Trust (FCT): DPU for FCT for its second half ended September 2025 came in at S$0.06059, up 0.6 per cent from S$0.0602 a year earlier. Revenue was up 14.3 per cent at S$205.2 million from S$179.5 million in H2 FY2024. The manager attributed the higher contributions to its acquisition of Northpoint City South Wing in May 2025, as well as contributions from Tampines 1, which completed asset enhancement initiatives in August 2024. Units of the FCT closed on Wednesday S$0.01 or 0.4 per cent down at S$2.44.
Digital Core Reit: It reported distributable income of US$35.2 million for the nine months ended Sep 30, up 1.9 per cent from a year earlier. Revenue for the period climbed 83.9 per cent to US$132.4 million, from US$72 million previously, the manager said. Net property income rose 49.6 per cent to US$67.7 million, from US$45.3 million in the same period a year ago. Units of Digital Core Reit closed 1 per cent or US$0.005 higher at US$0.485 on Wednesday, before the announcement.
Sabana Reit:: It posted a 38.4 per cent rise in income available for DPU to S$0.0101 for its third quarter ended Sep 30. This is compared to a DPU of S$0.0073 in the year-ago period. The manager on Wednesday said that revenue climbed 5.3 per cent to S$29.9 million, from S$28.4 million in Q3 2024. Meanwhile, net property income grew 16 per cent to S$16.9 million from S$14.5 million previously. Units of Sabana Reit closed unchanged at S$0.43 on Wednesday.
Stoneweg Europe Stapled Trust: The trustee-manager on Thursday said that it issued the 300 million euro 4.125 per cent green notes due 2033 and comprised in Series 003. The tenor for the green notes are at 7.3 years, an Oct 15 announcement said. The mainboard-listed company also entered into a five year fixed-to-floating swap, taking the all-in-interest cost to 3.9 per cent. The Series 003 notes will be listed on the Singapore Exchange on or around Thursday. The counter closed flat at 1.53 euros, before the news.
LHN, KSH Holdings and Soon Hock Enterprise: The three companies announced on Wednesday the entry into a joint venture (JV) alongside Macritchie Developments, CP Tagore, Petrus Capital Holdings, Tay Lian Xie Taro and Chin Hong Oon. Named Thomson Gem, the JV was incorporated on Oct 13, and won the tender for the 680 Upper Thomson Road property at a purchase price of S$351 million. Shares of LHN ended Wednesday 4.8 per cent or S$0.04 up at S$0.87, KSH shares closed 5.3 per cent or S$0.02 up at S$0.40 and Soon Hock shares ended 0.9 per cent or S$0.005 down at S$0.58, before the announcement.
SG Local News
Singapore to Announce More Stock Market Incentives in November
Singapore will announce more measures next month to support listed companies to boost shareholder value and actively engage investors on their business plans.
This will include government grants, Chee Hong Tat, deputy chairman of the Monetary Authority of Singapore, said at an event held by the city-state’s largest bank, DBS Group Holdings Ltd.
The remarks came after Chee unveiled plans for a “value unlock” package in September and urged Singapore companies to deliver greater shareholder value. This mirrors what authorities in markets including Japan, Korea and Thailand are doing to push listed firms to improve governance and returns.
DBS Expects Singapore GDP to Double by 2040, Singapore Dollar Parity with Greenback
DBS Group Research on Wednesday said it expects Singapore's gross domestic product to double by 2040, with the state's benchmark Straits Times Index nearing 10,000 and the Singapore dollar reaching parity with the U.S. dollar.
In a report, the research arm of Singapore's largest bank, DBS, said annual real GDP growth is likely to average 2.3% over the next 15 years, outpacing other advanced economies.
In the foreword to the report, Timothy Wong, group head at DBS Group Research, said Singapore's long-term outlook remains constructive despite heightened global uncertainty.
The researcher said GDP would more than double to $1.2 trillion to $1.4 trillion by 2040 from $547 billion in 2024.
Former Citi and Baer Bankers to Plead Guilty in Singapore Scandal
Two former bankers at Citigroup Inc. and Julius Baer Group Ltd. are set to plead guilty for their alleged roles in aiding the movement of illicit funds by several people convicted in Singapore’s biggest money laundering case.
Wang Qiming, a former relationship manager at Citibank Singapore, is expected to appear in court on Thursday to plead guilty, while former Julius Baer banker Liu Kai is scheduled to do the same on Friday, according to the hearing list on the Singapore Courts website.
The two cases will be closely watched for what they’ll show about the adequacy of banking safeguards against dirty money flows. The S$3 billion ($2.3 billion) scandal two years ago raised questions about the risks of the financial hub’s ambition to attract some of the world’s richest. The two relationship managers are the only financial professionals charged in connection with the case.
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