Market Snapshot
Singapore stocks opened higher on Tuesday. STI up 0.3%; Nio down 2.5%; SingPost down 1.5%.
Stocks in Focus
$CityDev(C09.SI)$: Kwek Leng Peck, cousin of CDL’s executive chairman Kwek Leng Beng, will take on the role of vice-chairman of the company’s board, and become a non-independent and non-executive director on Jun 1. A bourse filing on Monday said this move sees the 69-year-old rejoin the company after he resigned from the latter posts in October 2020. Shares of CDL closed S$0.02 lower or 0.3 per cent to reach S$7.84 on Monday, before the news.
$Lendlease Reit(JYEU.SI)$: The manager of the trust on Monday posted a positive retail rental reversion of 12.2 per cent for the third quarter ended Mar 31, 2026. This comes as it completed an acquisition of the remaining 30 per cent stake in PLQ Mall in March. Units of Lendlease Reit closed unchanged at S$0.57 on Monday, before the announcement.
$Frencken(E28.SI)$: It posted a profit after tax and minority interest of S$8 million for Q1 2026, down 20.2 per cent from S$10 million in the year-ago period. This came as revenue fell 6.4 per cent to S$202 million from S$215.8 million. The group on Tuesday said it anticipates improving momentum for the rest of the year. The counter closed Monday 4.4 per cent or S$0.14 down at S$3.04, before the news.
$Geo Energy Res(RE4.SI)$: The coal producer secured two non-binding memorandums of understanding connected to its planned expansion into high-value coking coal in Central Kalimantan, a bourse filing on Monday said. It had agreed to a US$50 million to US$100 million prepayment amount with multinational commodities trader Trafigura, to secure the future offtake of coal from its newly acquired miner Harfa Taruna Mandiri. The counter ended Monday S$0.015 or 2.6 per cent higher at S$0.59, before the announcement.
$Ever Glory(ZKX.SI)$: The group said on Monday that it has secured about S$230 million in new contracts, pushing the group’s total order book past S$900 million. The contracts are for projects with the Land Transport Authority and Resorts World Sentosa, on top of commercial and office building projects. Shares of Ever Glory ended 1.2 per cent or S$0.01 lower at S$0.82, before the news.
SG Local News
Singapore Halts Simba-M1 Merger Review, Casting Doubt on Keppel's $1 Bln Sale
Singapore's regulator suspended on Monday its review of a merger between Simba Telecom and M1, casting doubt on Keppel's planned sale valuing M1 at about S$1.43 billion ($1.12 billion) and sending shares in Simba's Australian owner Tuas sharply down.
The Infocomm Media Development Authority said in a statement that during a review it found that Simba could have been using radio frequency bands that it had not been assigned to provide mobile services.
Grab, Sea Lean on Affordability, Subscriptions to Defend Growth Amid Macroeconomic Headwinds
Amid the ongoing Middle East conflict and broader macroeconomic uncertainty, consumer spending is coming under pressure with households turning cautious.
Yet, both Grab and Sea have maintained their 2026 guidance, saying that their focus on affordability and subscription programmes will prop up demand in the year ahead.
Grab has said that it is on track to deliver its 2026 revenue guidance of US$4.04 billion to US$4.1 billion, with adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) of US$700 million to US$720 million.
Sea, meanwhile, has said that it expects to grow e-commerce arm Shopee’s gross merchandise value (GMV) by around 25 per cent, while adjusted Ebitda should be at least in line with 2025 in absolute dollar terms.
“Discretionary spending is often one of those first things consumers pull back on when pump prices rise,” said Zavier Wong, market analyst at eToro.
Still, first-quarter metrics suggest that consumers are responding positively to lower-cost offerings and services on both platforms.
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