Market Snapshot
Singapore stocks opened higher on Tuesday. STI rose 0.1%; Nio, Golden Agri-Resources rose 2%.
Stocks in Focus
OCBC Bank: The bank’s mezzanine capital unit announced on Monday that it has invested in the development of a US$1.5 billion low-carbon steel plant in Malaysia’s Sabah state, scheduled for commissioning by 2030. The plant is being developed by Green Esteel, a Singapore-based investment holding company focused on low-carbon steel. Shares of OCBC ended at S$18.73, down by S$0.19, or 1 per cent on Monday.
JMH USD and Man Oriental USD: Shareholders of the hotel chain on Monday voted in favour to approve Jardine Matheson’s takeover bid. The investment company said on Oct 17 that it was moving to take Mandarin Oriental private in a recommended cash takeover valued at US$3.35 per share. Completion of the acquisition remains subject to the remaining conditions, including the completed sale of One Causeway Bay in Hong Kong, which is expected to occur by 31 December 2025. Shares of Mandarin Oriental closed flat at US$3.30 on Monday, while those of Jardine Matheson fell 0.1 per cent to close US$0.06 lower at US$68.35.
SingPost: The postal service on Tuesday said it was raising standard domestic mail rates by S$0.10 for both regular and large mail. The new prices of S$0.52 and S$0.90 respectively will go into effect from Jan 1 next year. Mark Chong, SingPost’s CEO, said that the increase is a “necessary step” to balance the “structural cost” of his company’s domestic mail operations. Shares of SingPost ended Monday flat at S$0.415.
SG Local News
Asia Still ‘Under-Invested’ Despite Improving Profits, Attractive Valuations: DBS
Asia remains “under-invested” despite the region’s strong performance and comparatively attractive valuations, said Daryl Ho, senior investment strategist at DBS’ chief investment office.
Ho attributed this to lingering caution among investors, as Asian markets “had not been doing so well” in the last few years.
Yet, Asia is “painting a rather sanguine picture” lately in terms of market opportunities, he argued in a private-wealth segment at the bank’s Market Outlook 2026: Empowering Businesses for Global Shifts forum on Dec 4.
OG Sues Hao Mart for Alleged Breach of Taste Orchard Lease, Seeks to Claim S$6.6 Million in Rent and Other Fees
OG has sued supermarket operator Hao Mart for allegedly breaching its lease agreement over Taste Orchard by failing to pay rent from January to November 2024, as well as subletting parts of the premises without seeking its approval.
As Taste Orchard’s landlord, OG claimed Hao Mart’s actions were a breach of the 7.5-year lease it had signed and thus served as grounds for termination.
As at Oct 1, OG is seeking to claim nearly S$6.6 million from Hao Mart comprising S$5.6 million in principal arrears for rent; S$426,299 in increase in property tax; S$366,699 in principal arrears for charges; and S$178,857 in accrued interest so far.
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