SG Morning Call | STI Falls 0.27%; UOB up 1.2%; CityDev up Slightly; Singtel, OCBC Bank, Singtel, DBS, SIA Down Within 1%
Market Snapshot
Singapore stocks opened lower on Thursday. STI fell 0.27%; UOB up 1.2%; CityDev up slightly; Singtel, OCBC Bank, Singtel, DBS, SIA down within 1%.
Stocks in Focus
$Q&M Dental(QC7.SI)$: The company announced on Wednesday that it is proposing to buy a 100 per cent stake of a dental group in Australia for A$144.5 million (S$132.1 million). Q&M said A$30 million, or about 21 per cent of the sale price, will be injected into the Australian company as capital. It intends to grow the Australian company’s specialist divisions, where the target currently has a clinical team of about 120 dentists – most of whom are general practitioners. Shares of Q&M Dental closed 3.8 per cent or S$0.02 higher at S$0.545 on Wednesday, before the news.
$Del Monte Pacific(D03.SI)$: The food and beverage group posted on Wednesday a net profit of US$10 million for the three months ended Jan 31, over three times that of the US$2.5 million in the same year-ago period. This came on the back of stronger operating performance and improved profitability across the business. Earnings per share for the third quarter of FY2026 stood at US$0.0051, up from US$0.0013 in the previous corresponding period. The counter ended Wednesday at S$0.095, up 3.3 per cent or S$0.003, before the news.
$RH Petrogas(T13.SI)$: The petroleum products company on Wednesday said that it has engaged artificial intelligence firm AiRTS to design and build a system enabling “a comprehensive governance oversight” of the group’s procurement operations. The system will employ AI, generative AI and machine learning. The move comes after an independent review conducted in relation to whistle-blowing allegations. Shares of RH Petrogas closed flat at S$0.23 on Wednesday, before the news.
SG Local News
RHB Bullish on DBS, OCBC, but Expects More Volatility in Banking Sector Amid Geopolitical Tensions
Singapore banks are expected to face a “modest operating environment” in the months ahead, although the recent rise in geopolitical tensions has likely injected further volatility into the sector’s outlook, said RHB in a Tuesday (Mar 10) note.
Against this backdrop, RHB named $DBS(D05.SI)$ and $OCBC(O39.SI)$ as its top picks, with DBS “slightly ahead” due to better dividend-per-share visibility and a higher dividend yield of about 6 per cent. It also said it prefers banks with stronger asset-quality metrics amid the uncertain environment.
Office Landlords Stand Out in S-Reits’ Q4 Beat, but the Drums of War Loom Heavy on FY2026
Singapore-listed real estate investment trusts (S-Reits) landed slightly ahead of expectations for the fourth quarter of the 2025 financial year, anchored by a fiercely resilient domestic commercial market and prudent capital management.
But beneath the headline beat lies a complex narrative of divergence. As the dust settles on the reporting season, a clear hierarchy of winners and laggards is emerging, driven by geographic exposure, asset class, and shifting macro currents ranging from interest rate relief to Middle Eastern geopolitical tensions.
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