SG Morning Call | Singapore Stocks Open Higher; Temasek Targets Big Jump in AI Investments as Value of Portfolio Hits Record High

Market Snapshot

Singapore stocks opened higher on Thursday. $Solidion Technology Inc.(STI)$ rose 0.65%; $OCBC Bank(O39.SI)$ rose 1.2%; $Genting Sing(G13.SI)$ rose 0.8%.

Stocks in Focus

$SGX(S68.SI)$: SGX has divested its wholly owned subsidiary, Scientific Beta, to global index provider Stoxx for a consideration of about 23 million euros (US$26.3 million), the local bourse operator said on Wednesday. The transaction is part of the group’s efforts towards active portfolio management and capital allocation. Shares of SGX fell 0.7 per cent or S$0.16 to close at S$24.01 on Wednesday.

$AIMS APAC Reit(O5RU.SI)$: The real estate investment trust (Reit) is acquiring a 9.15-hectare freehold industrial landholding in Perth, Australia, for A$42.7 million (US$29.6 million), the manager said on Thursday. The fully occupied property is leased to Swan Materials under a 10-year triple-net lease that features a fixed annual rental escalation rate of 3.25 per cent. Expected to generate an initial yield of 5.3 per cent, the debt-funded acquisition is distribution per unit accretive. Units of Aims Apac Reit rose 0.6 per cent or S$0.01 to close at S$1.64 on Wednesday.

SG Local News

Temasek targets big jump in AI investments as value of portfolio hits record high

Singapore state investor Temasek said on Wednesday it was targeting ​a major increase in investments in AI companies, aiming to lift its exposure to the technology to as much as 15% ‌over the next five years from 6% now.

Temasek, which owns stakes in Anthropic and OpenAI, also said its net portfolio value climbed to S$518 billion ($400 billion) last financial year, marking the second consecutive year that it has hit a record.

Cost of driving in Singapore soars as ownership certificates reach nearly $100,000

Car buyers in Singapore will now need to fork out almost $100,000 for a certificate to own a small car, as costs in the city-state's vehicle quota ​system hit an all-time high for small models on Wednesday.

Singapore regularly ​auctions a fixed number of "certificates of entitlement" allowing car ownership ⁠for 10 years, which helps limit the number of vehicles on the ​road to about 1 million.