Singapore stocks fell this week, with the STI down 1%.
In terms of individual stocks, UOB Kay Hian, AEM Holdings soared around 11%; PanUnited rose over 9%; Haw Par rose 7%; Sembcorp Ind up 5.7%; China Aviation down over 9%; AvePoint, Lendlease Reit down over 6%.
Market News
DBS Ends Stabilisation For UI Boustead REIT IPO After Buying 54.6 Million Units
DBS Bank Ltd., acting as Stabilising Manager for the initial public offering of UI Boustead REIT, said it bought 54.6348 million units in the trust and ceased price-stabilising actions at the close of trading on Mar, 26 2026.
The purchases fully covered the number of units that had been over-allotted, so the over-allotment option will not be exercised, DBS added.
UI Boustead REIT holds 23 logistics, industrial, Hi-Specs industrial and business space assets—21 in Singapore and two in Japan—with a combined gross floor area of about 5.9 million square feet and an agreed property value of roughly 1.9042 billion Singapore dollars. The trust is managed by UIB REIT Management Pte. Ltd., a wholly owned subsidiary of its sponsor, UIB Holdings Limited.
Singapore Fund Winds Down as $1.4 Billion Student Dorm Bet Sours
Singapore’s Mapletree Investments Pte will liquidate a property fund that once had assets above $1.4 billion, after its bets on college accommodation in the UK and US suffered years of underperformance.
The Mapletree Global Student Accommodation Private Trust, almost three years after halting regular payments to investors, finally came to an end on March 16, according to documents seen by Bloomberg News. Its net internal rate of return by the end of last year was just 1.1%, well short of its initial target of 12%, the documents show.
The fund — which now has assets of around $700 million — had asked its investors to give it more time before returning their capital. But at a vote earlier this month its investors rejected the plans. That has pushed the fund into wind-down, meaning it may ultimately need to sell assets at steep losses to give investors their money back.
Shipping Disruption from Middle East Crisis Reaches Ports in Asia, Including Singapore
Merchant vessels, including oil tankers and cargo ships, have started to queue up at ports across Asia, including Singapore, as the effective closure of the Persian Gulf throws the global shipping network into disarray.
Data provided to The Straits Times shows longer queues and delays at major Asian ports, with experts warning that more vessels carrying Gulf-bound cargoes could seek anchorage in Singapore and Malaysia’s Tanjung Pelepas and Klang ports in the coming weeks if the crisis drags on.
Singapore Delays World First Green Flight Levy on Iran War
Singapore is delaying a sustainable aviation fuel levy that airline customers were meant to start paying next month, citing the surge in fuel costs spurred by the Iran war.
Additional charges will now begin Oct. 1 as a result of the “impact of the ongoing conflict in the Middle East on airlines and passengers,” the Civil Aviation Authority of Singapore said Wednesday.
The amount charged will depend on the class of travel or length of flight, and could total as much as S$41.60 ($32.47) for passengers. Customers will pay an additional S$1 for trips to Southeast Asia, and S$10.40 for flights to the Americas, the authority confirmed last year.
Singapore Bonds Show Resilience as Iran War Roils Regional Peers
Singapore’s front-end bonds have emerged as a regional refuge amid the Iran war, outperforming Southeast Asian peers. Market watchers expect the trend to continue.
While the city-state’s economy isn’t immune to rising energy prices and supply chain disruptions from the Middle East conflict, robust domestic liquidity and a firm currency are among factors that have made its AAA rated bonds a more stable bet.
Yields on Singapore’s two-year government notes have risen by 16 basis points in March, the smallest increase in Southeast Asia, according to data compiled by Bloomberg. Similar-dated securities in Indonesia and the Philippines have seen yields surge by about five times more on bets their central banks will turn hawkish as the Iran war-driven oil shock adds to inflation risks.
