Market Snapshot
Singapore stocks opened higher on Thursday. STI up 0.3%; YZJ Shipbldg and ProNex up 2%; DBS, SIA Engineering and Seatrium up 1%; UOB down 3%; Lendlease down 2%; Genting Sing down 1%.
Stocks in Focus
DBS : The Singapore lender posted on Thursday a net profit for the third quarter ended Sep 30, 2025 that declined 2 per cent to S$2.95 billion, compared with S$3.03 billion in the same year-ago period. This comes as total income reached a new high of S$5.93 billion, though net profit was lower due to the impact of the global minimum tax. The earnings beat the S$2.79 billion consensus forecast in a Bloomberg survey of six analysts. The bank declared an ordinary dividend of S$0.60 per share and a capital return dividend of S$0.15 per share for the period. Shares of DBS closed flat at S$53.50 on Wednesday.
UOB : The bank reported on Thursday a net profit for the quarter of 443 million, down 72 per cent from S$1.61 billion a year before. The result missed the S$1.34 billion consensus estimate in a Bloomberg poll of five analysts. Net interest income declined 8 per cent to S$2.3 billion, as net interest margin declined 23 basis points to 1.82 per cent, from 2.05 per cent in the same period a year prior. Shares of UOB closed 0.1 per cent or S$0.05 lower at S$34.87 on Wednesday.
PropNex : A wholly owned subsidiary of PropNex, PropNex Realty, is one of three defendants being sued for at least S$586,172, allegedly over a breach of duty of care as well as negligent misrepresentation by one of its salespersons. This lawsuit is the fourth reported dispute to be brought against PropNex Realty before the High Court in the year to date. Shares of PropNex closed S$0.01 or 0.4 per cent up at S$2.32 on Wednesday, before this announcement was published.
LHN, Coliwoo: Property management services group LHN’s co-living business Coliwoo has drawn significant investor interest for its initial public offering, with 5.3 million public offer shares about 20.7 times subscribed. At the close of the public offer at noon on Tuesday, the co-living operator received 2,739 valid applications for the offer shares. Coliwoo’s shares will begin trading on Thursday. Shares of LHN closed S$0.015 or 1.9 per cent down at S$0.785 on Wednesday.
Lendlease Global Commercial Reit : The manager of Lendlease Reit on Thursday announced its successful private placement of around S$280 million, up from the initial S$270 million. Due to the strong interest, the placement size rose by approximately S$10 million. The units from the private placement are issued at $0.6020 apiece, compared with the adjusted volume-weighted average price of S$0.6253 per unit. Lendlease Reit called to lift its trading halt on Thursday morning, which was put in place on Wednesday.
Stoneweg Europe Stapled Trust : Its distributable income declined 4.6 per cent to 57.6 million euros (S$86.5 million) for the nine months ended Sep 30, from 60.4 million euros in the same year-ago period. This was despite a 3 per cent increase in net property income to 102.9 million euros and 2 per cent increase in gross revenue to 163.5 million euros. It attributed the fall in distributable income largely to the full impact of strategic asset divestments and a higher interest expense. The counter fell 0.7 per cent or 0.01 euro to close at 1.53 euros on Wednesday.
Bukit Sembawang Estates : The property group posted on Thursday evening a net profit for the half-year ended September of S$47.2 million, down 25 per cent year on year. This was main due to a fall of 61 per cent in revenue from its property development segment. No dividend was declared for the period. Earnings per share for the period was at S$0.1821, lower than S$0.243 in the corresponding period a year before. The company said that it is preparing to launch a new residential landed development, Pollen Collection II, and will continue to focus on the sales of condominium project 8@BT and the balance units at Pollen Collection, while progressing with planning for residential landed development Luxus Hills Phase 10. Shares of Bukit Sembawang Estates closed 1 per cent or S$0.04 down at S$4.16, before the announcement.
SG Local News
YZJ Financial right to spin off maritime assets
If you have ever mistaken Yanzijiang (YZJ) Financial for YZJ Shipbuilding while checking their share prices on your phone, get ready for even more potential confusion.
On Nov 18, a company called YZJ Maritime Development is expected to list on the mainboard of the Singapore Exchange (SGX) by way of an introduction. The company invests in a diverse range of vessels through joint ventures with operating partners, and via finance leases. It also provides loans to shipping companies, and is involved in ship agency and ship broking activities.
The company is being spun out of YZJ Financial, in much the same way that YZJ Financial was spun out of YZJ Shipbuilding back in 2022. Under the deal, YZJ Financial will distribute the 3.48 billion shares it holds in YZJ Maritime to its own shareholders on a one-for-one basis.
Singapore retail sales up 2.8% in September
Singapore’s retail sales rose 2.8% YoY in September, but declined 1.4% on a seasonally adjusted MoM basis, according to the latest figures from the Department of Statistics.
Excluding motor vehicles, retail sales were up 2.0% YoY but fell 2.3% MoM.
Total retail sales were estimated at $4.1b, with online sales accounting for 14.9% of that total. When excluding motor vehicle sales, the online share rose to 17.6%.
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