SG Morning Call | Singapore Stocks Open Higher; Singapore AUM up 10.1% at S$6.7 Trillion as MAS Eyes Competitiveness Push

Market Snapshot

Singapore stocks opened higher on Tuesday. STI rose 0.1%; $Genting Sing(G13.SI)$ rose 1.6%; $Singtel(Z74.SI)$ rose 1.1%.

Stocks in Focus

$SIA(C6L.SI)$: The national carrier sank into the red with a net loss of S$76 million for its first quarter ended Jun 30, compared with a net profit of S$186 million in the previous corresponding period. This was despite record revenue of S$5.7 billion. The loss was mainly due to lower operating profit from a sharp 78.5 per cent jump in net fuel costs triggered by the Middle East conflict, as well as higher share of losses from Air India, SIA said on Tuesday. The counter ended at S$7.77 on Tuesday, 0.8 per cent or S$0.06 higher, before the results were released.

$Keppel Reit(K71U.SI)$: The manager of the trust on Wednesday posted a 4 per cent decline in its H1 distribution per unit (DPU) of S$0.0261, from S$0.0272, due to an enlarged unit base. Its ex-dividend date is on Aug 5, and will be paid on Sep 15. Distributable income from operations for the period stood at S$119.6 million, up 25.2 per cent year on year. Additionally, the manager announced that the Reit is divesting its majority stake in KR Ginza II, a freehold boutique office building in Tokyo, for 11.5 billion yen (US$70.2 million). Units of Keppel Reit ended 0.6 per cent or S$0.005 higher at S$0.89 on Tuesday.

$ST Engineering(S63.SI)$: The urban solutions business of ST Engineering secured an S$840 million rail services contract for the Taoyuan MRT Brown Line in Taiwan. The project is expected to commence in Q4 and will be delivered over eight years, the company said on Tuesday. The 11.4 km rail route threads through seven stations and will connect Taoyuan city to the Greater Taipei area. The counter closed 0.6 per cent or S$0.06 lower at S$10.53 on Tuesday, before the news.

$DFIRG USD(D01.SI)$: The company on Tuesday posted a 44 per cent rise in underlying profit attributable to shareholders from continuing businesses to US$117 million for its first half ended Jun 30, on the back of improved operating performance and lower financing costs. An interim dividend of US$0.062 per share was declared for the half year, up 77 per cent. Shares of DFI Retail closed at US$3.52 on Tuesday, up 0.9 per cent or US$0.03, before the results were released.

$Mapletree Log Tr(M44U.SI)$: The manager of MLT on Tuesday posted DPU of S$0.01816 for the first quarter ended June, up 0.2 per cent from S$0.01812 in the year-ago period. Distributable income rose 1.1 per cent to S$93 million in Q1. Units of MLT ended Tuesday 0.8 per cent or S$0.01 higher at S$1.20, before the results were released.

SG Local News

Singapore AUM up 10.1% at S$6.7 trillion as MAS eyes competitiveness push

Total assets under management (AUM) in Singapore rose 10.1 per cent to S$6.7 trillion as at the end of 2025, on the back of robust market performance and net inflows.

Singapore’s financial sector continued to experience broad-based growth amid a more uncertain global environment, the Monetary Authority of Singapore (MAS) said in its annual report, released on Tuesday (Jul 28).

The financial sector grew 4.3 per cent in 2025. This was slower than 2024’s 6.8 per cent, but “broadly (maintained) the momentum” of an average 4.6 per cent annual growth over the 2021 to 2025 period.

Singapore Airlines posts first quarterly loss since 2022

Singapore Airlines (SIAL.SI), opens new tab on Tuesday reported ‌a first-quarter net loss, its first since 2022, weighed down by losses from its associate Air India and higher jet fuel costs from the Middle East conflict despite record revenue.

SIA's results reflect a broader squeeze ​hitting the global airline industry, where carriers from the United States to Asia have ​reported that rising passenger yields and record travel demand are failing to ⁠keep pace with fuel bills inflated by the Middle East conflict.

Keppel surpasses 2026 interim funds target early as FUM tops $77.36 billion

Singapore's Keppel (KPLM.SI), said on Tuesday it has topped its interim target to achieve S$100 billion ($77.36 ​billion) in funds under management by the ‌end of 2026, after adding to its infrastructure, real estate and connectivity private funds.

The global asset manager and operator said ​it has added about S$13.5 billion in ​FUM so far this year across those ⁠funds.