Market Snapshot
Singapore stocks opened lower on Thursday. STI fell 1%; YZJ Shipbldg SGD down 2%; OCBC Bank down 1.5%.
Stocks in Focus
Singtel: The telco on Thursday confirmed that is currently in discussions with “interested parties” for a stake sale in wholly owned Australian telco Optus, but emphasised that there is “no certainty or assurance that any transaction will occur”. Singtel reiterated its May statement that it was looking for a “like-minded local partner” that can ensure “Optus continues to be a strong alternative operator in the industry”. Shares of Singtel rose 1.8 per cent or S$0.08 to close at S$4.61 on Wednesday.
Keppel: Asset manager Keppel on Thursday reported a 59 per cent drop in overall net profit to S$155 million for the first half ended Jun 30. This bottom-line drop translated to an earnings per ordinary share of S$0.085, down 59.1 per cent from S$0.208 in H1 2025. Looking past its non-core drag, Keppel highlighted that its continuing core business – which it labels “New Keppel” – posted a 25 per cent rise in net profit to S$530 million. Shares of Keppel rose 2.9 per cent or S$0.34 to close at S$12 on Wednesday.
CDL HTrust: It posted on Thursday a distribution per stapled security of S$0.0215 for the half year ended Jun 30, up 8.6 per cent on the year from S$0.0198. This was buoyed by a higher net property income (NPI), and lower interest costs, said a Thursday earnings statement. The distribution date is on Aug 31. NPI for the period stood at S$59.7 million for H1, a 1.8 per cent year on year rise from S$58.6 million. Stapled securities of CDLHT ended Wednesday 1.3 per cent or S$0.01 up at S$0.795.
Far East HTrust: The manager of the stapled trust on Thursday posted a distribution per stapled security of S$0.0163 for its first half ended Jun 30, down 8.4 per cent on the year from S$0.0178. This comes as the prior-year period included distribution of other gains from the divestment of Central Square. The distribution will be paid on Aug 28. Distributable income for H1 was at S$33.7 million, up 8.9 per cent on the year from S$30.9 million, due to lower finance expenses arising from lower borrowing costs. The counter ended unchanged on Wednesday at S$0.59.
CapitaLandInvest: CLI’s wholly-owned Singapore-headquartered hospitality company Ascott on Thursday said it signed management agreements for nine properties totalling more than 3,200 units in Vietnam in the first half of 2026, its fastest pace of growth in the country to date. Four projects are with Sun Group, a longstanding partner, and five with owners new to Ascott. The signings expand Ascott’s Vietnam portfolio by more than 30 per cent to about 12,000 units. Shares of CLI rose 1.9 per cent or S$0.05 to close at S$2.66 on Wednesday.
Sheng Siong: The supermarket operator posted an 11.7 per cent increase in net profit for the first half of the 2026 financial year to S$80.8 million on Wednesday, from S$72.3 million in H1 FY2025. Revenue for the period grew 11.9 per cent on the year to S$855.4 million, from S$764.7 million, on the back of 16 new store openings and higher comparable store sales. Shares of Sheng Siong closed 0.3 per cent or S$0.01 higher at S$3.26 on Wednesday, before the results were released.
StarhillGbl Reit: The Reit on Wednesday reported a distribution per unit (DPU) rise of 1.6 per cent to S$0.0188 for its second half ended Jun 30. Income available for distribution for the half-year period rose 3.6 per cent year on year to S$46.1 million. Revenue was up 0.4 per cent at S$96.2 million for the half-year period, from S$95.8 million in the corresponding period last year. Units of Starhill Global Reit closed 1.8 per cent or S$0.01 higher at S$0.56 on Wednesday, before the results were released.
DigiCore Reit USD: Digital Core Reit’s DPU stood flat at US$0.018 for its first half ended Jun 30, 2026, unchanged from the year-ago period, the manager reported on Wednesday. Net property income fell 5.7 per cent on the year to US$43.7 million, from US$46.3 million. Units of Digital Core Reit closed flat at US$0.495 on Wednesday, before the release of the results.
EGP ENERGY CORP: After the end of its first trading day, the group announced its first project win, valued at around S$1.1 million, via its wholly owned subsidiary EGP Smart Energy. Under the contract, EGP Energy will supply and install a 66-kilovolt switchgear for a battery energy storage system project in Singapore. With this, the group’s order book has been lifted to S$302.4 million to date. Shares of EGP Energy ended at S$0.62, 21.6 per cent above its IPO price.
SG Local News
Singapore announces extra $700 million of support to counter high energy prices
Singapore announced a new S$900 million ($700 million) support package on Wednesday to help households and businesses cope with high energy prices due to the Middle East conflict.
“We believe this is the right response, given the economic conditions today,” said Second Minister for Finance Jeffrey Siow at a press conference on Wednesday (Jul 29).
But the global situation remains fluid, and the government is in close touch with trade associations and businesses, unions and workers, as well as grassroots leaders and residents, he added.
Singapore asset manager Keppel's half-year profit rises 25%
Keppel, on Thursday posted a 25% rise in half-year net profit, excluding the non-core portfolio for divestment, supported by stronger contributions from asset management and the operating platform.
The asset manager posted net profit, excluding the non-core portfolio for divestment, of S$530 million ($411.20 million) for the six months ended June, compared with S$431 million reported a year earlier.
Singtel explores Nasdaq-SGX dual listing for data centre arm Nxera, local data centre Reit
Singtel on Wednesday (Jul 29) said that it was considering a dual listing on Nasdaq and the Singapore Exchange (SGX) for its data centre arm Nxera, as well as listing a data centre real estate investment trust (Reit).
However, both options remain at an exploratory level, with no final decision on scale, date and structure, the group said during its annual general meeting (AGM) at the Sands Expo and Convention Centre.
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