Market Snapshot
Singapore stocks opened higher on Monday. STI rose 0.9%; Yangzijiang Shipbuilding and Seatrium rose 3%; Genting Singapore and Sembcorp Industries rose 2%; SGX, Keppel, OCBC, and SIA rose 1%.
Stocks in Focus
Annica Holdings: The group on Friday said it secured a commercial project to deploy integrated solar and hydrogen energy systems in Sarawak, Malaysia. It is also in talks to expand an existing framework agreement, to accelerate the development of renewable energy opportunities in Malaysia. The expansion builds on an existing agreement signed in September 2025 to strengthen feedstock security and support product quality enhancement initiatives. Shares of Annica Holdings ended flat at S$0.03 on Friday before the news.
Cosco Shipping: The group said on Monday that construction of Jurong Island Logistics Hub (JILH) Phase II continued through June this year, with structural works progressing to the sixth and seventh floors of the building. “Other building works, including superflat floor construction, installation of fire-fighting equipment and facilities, and plumbing works, have also progressed smoothly,” a statement noted. Demolition works for the JILH Phase I structure to facilitate the connection with Phase II, meanwhile, have progressed to the seventh floor, with minimal disruption to JILH Phase I operations, said the company. The counter ended 1.8 per cent or S$0.002 higher at S$0.115 on Friday prior to the announcement.
Innotek: The precision metal components manufacturer on Monday said it has incorporated a new wholly-owned subsidiary – Mansfield Technology – in Thailand to support its first liquid cooling components project and accelerate its expansion into the AI infrastructure sector. The subsidiary was incorporated in May 2026, with total paid-up capital of 100 million baht (S$3.9 million). The new facility will commence operations from August this year. Shares of Innotek ended S$0.02 or 3.1 per cent down at S$0.635 on Friday before the news.
SG Local News
Allianz Said to Lead Bidding for HSBC’s Singapore Insurance Unit
Allianz SE has emerged as the frontrunner to acquire HSBC Holdings’s Singapore insurance unit, according to people familiar with the matter, Bloomberg reported.
The German insurer is the likeliest buyer for HSBC Life Singapore Pte after outbidding other industry players, the people said, asking not to be identified because the deliberations are private.
Allianz and HSBC are finalizing details of a transaction that could be announced soon, the people said. HSBC was seeking a valuation of as much as $2 billion for the business, people familiar with the matter have said.
AI Work Platform Monday.com to Use Singapore as Its Second Asia-Pacific HQ
Work-management platform Monday.com announced on Monday that its Singapore office will be its second Asia-Pacific headquarters, after Sydney.
The Singapore office will work in tandem with the Sydney one, which opened in June 2020.
Chris Jordan, regional vice-president for South-east Asia and country manager for Singapore, said that the Sydney office will focus on the Australia business, while the Singapore one will be a base for the company to drive growth from South-east Asia, North-east Asia and subsequently India.
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