Market Snapshot
Singapore stocks opened higher on Monday. STI rose 0.5%; Genting Singapore rose 2%; Keppel rose 0.8%; UOB, OCBC, and SIA rose 0.6%; DBS rose 0.5%.
Stocks in Focus
The Hour Glass: The luxury watch retailer on Friday posted a 39 per cent increase in net profit to S$103.8 million for its second half ended Mar 31, on the back of stronger sales momentum. This was up from S$74.4 million a year earlier. Its revenue for the period rose 16 per cent year on year to S$722.8 million, from S$622.6 million. Shares of The Hour Glass rose 2.1 per cent or S$0.05 to close at S$2.46 on Friday, before the release of results.
UI Boustead Reit, Boustead Singapore: Both parties are co-investing in the development of a build-to-suit aerospace facility in Seletar Aerospace Park, which has a project value of around S$104 million. A bourse filing on Friday indicated that the facility will be fully leased to “a leading global aerospace corporation” for about 22.5 years, with built-in rental escalations. The Reit holds a 51 per cent interest in the development, while a subsidiary of Boustead Singapore holds the remaining 49 per cent. Units of UI Boustead Reit closed S$0.01 or 0.65 per cent higher at $0.78 on Friday, while shares of Boustead Singapore ended 1.7 per cent or S$0.04 higher at S$2.42, before the news.
Aspial Lifestyle: The consumer lifestyle group on Monday (May 25) said it had completed a private placement of around 149.2 million new shares to at an issue price of S$0.402 per share, raising proceeds of about S$60 million. It added that a second part of the equity fundraising comprises a preferential offering of 61.7 million new shares at the same issue price – to raise gross proceeds of approximately S$24.8 million. Shares of Aspial Lifestyle ended 1.2 per cent or S$0.005 lower at S$0.415 on Friday before the news.
SG Local News
Singapore Economy Grows 6% Y/Y in Q1, Above Advance Estimate
Singapore's economy grew 6.0% in the first quarter of 2026 from a year earlier, government data showed on Monday, higher than an official advance estimate of 4.6%.
On a quarter-on-quarter, seasonally adjusted basis, gross domestic product expanded by 1.0% in the January-March period, compared with an advance estimate of a 0.3% contraction.
The trade ministry maintained its growth forecast for this year at 2.0% to 4.0%, but added that the Middle East conflict has significantly raised downside risks.
Singapore Upgrades 2026 Key Exports Growth Forecast to 3-5% as Electronics Shipments Power Q1 Expansion
Enterprise Singapore (EnterpriseSG) has upgraded the Republic’s non-oil domestic exports (NODX) forecast for 2026 to 3 to 5 per cent from 2 to 4 per cent previously. This is underpinned by the better-than-expected Q1 2026 performance, particularly in electronics.
Notwithstanding uncertainties from the Middle East conflict and potential re-escalation of trade tensions, Q1’s key exports growth came in at 9.6 per cent, following the 12.7 per cent expansion in Q4 2025, said EnterpriseSG in its quarterly trade review released on Monday (May 25) morning.
Electronic shipments expanded by 57.8 per cent in Q1, up from the 23.4 per cent increase the previous quarter.
