SGX Weekly Review | STI Falls for Second Consecutive Week; Bumitama Agri Soars Over 21%, First Resources Up More Than 17%; CPIB Hauls Multi-Chem CEO, COO

This week, Singapore stocks continued to pull back, with the STI posting a weekly decline of 0.7%.

Among individual stocks, $Bumitama Agri(P8Z.SI)$ surged more than 21% for the week, while $First Resources(EB5.SI)$ gained over 17%. On the downside, $IHH(Q0F.SI)$ plunged more than 11%, and $DFIRG USD(D01.SI)$ fell 10.86%.

In addition, $YZJ Shipbldg SGD(BS6.SI)$ rose 3.82% for the week, $ST Engineering(S63.SI)$ added 1.86%, and $UOB(U11.SI)$ gained 1.26%. $SGX(S68.SI)$ dropped more than 8% for the week, $Seatrium Ltd(5E2.SI)$ declined 1.4%, $OCBC Bank(O39.SI)$ slipped 0.7%, and $DBS(D05.SI)$ edged down 0.18%.

Shares of $Multi-Chem(AWZ.SI)$ plunged nearly 39% on Friday after its CEO Foo Suan Sai and COO Han Juat Hoon were interviewed by Singapore's Corrupt Practices Investigation Bureau (CPIB) and asked to post bail and surrender their passports and mobile phones.

Market News

Singapore’s gold hub plan gets lift with DBS vault expansion

Singapore’s push to become a major gold hub is gaining momentum, with DBS adding bullion storage capacity and other banks considering similar moves.

DBS, South-east Asia’s largest lender, increased its vaulting space in 2026 to support growing demand from both private wealth and institutional clients, the bank said in an emailed response to Bloomberg’s request for comment on Wednesday (Sep 16).

OCBC has also approached precious metal storage providers about securing more space, according to people with knowledge of the matter.

North-South Corridor opening delayed two years amid construction challenges

The 21.5 km highway linking the northern towns to the city will be delayed by two years due to unexpectedly difficult ground conditions that require more complex construction work.

The North-South Corridor (NSC) viaduct, which runs from Admiralty West to Lentor Avenue, will now open in stages from 2029, instead of 2027.

The tunnel section from Lentor Avenue to East Coast Parkway will open in phases from 2031 instead of 2029, the Land Transport Authority (LTA) said on Thursday (Sep 17).