SG Morning Call | STI Rises 0.23%; Bumitama Agri, YZJ Maritime up Around 2%; SingaporeLand, Frasers Property, YZJ Shipbldg up Around 1%
Market Snapshot
Singapore stocks opened higher on Tuesday. STI rose 0.23%; Bumitama Agri, YZJ Maritime up around 2%; SingaporeLand, Frasers Property, YZJ Shipbldg up around 1%.
Stocks in Focus
$Singapore Airlines(C6L.SI)$ (SIA): Campbell Wilson, the chief executive of Air India, has resigned and is serving his notice period, according to local media. The Indian flag carrier is 25.1 per cent owned by SIA Group and has been grappling with the aftermath of a crash that killed 260 people last year. SIA’s share of losses from associated companies including Air India rose from S$163 million to S$178 million during the third quarter.
$Keppel Infrastructure Trust(A7RU.SI)$: The manager of the trust announced on Tuesday that it has appointed Khor Poh Hwa as the new chairman of the board. Khor, 76, will succeed Daniel Ee, 73, on Apr 29.
$Nam Cheong(1MZ.SI)$: The offshore marine firm secured offshore support vessel charter contracts of up to RM102.5 million (S$32.7 million) from regional oil majors, a bourse filing noted on Monday. They have a firm period of up to two years, with options for further extension of an additional year. Following the deal, 25 out of Nam Cheong’s 36-vessel fleet will be under long-term charters. The counter closed 5.6 per cent or S$0.08 higher at S$1.52 on Monday, before the news.
$Prime US Real Estate Investment Trust(OXMU.SI)$ (Reit): The Reit signed a new 11-year lease with ratings agency S&P Global for around 40,000 square feet of space at Village Center Station I in Denver, Colorado, said its manager on Monday. This lease will take committed occupancy at the nine-storey Class A office building to 80 per cent, from 63 per cent. It marks the beginning of a long-term partnership with S&P Global, to curate a new workplace for its employees in the Denver area. Units of the Reit closed flat on Monday at US$0.173, before the announcement.
SG Local News
Record Low Vacancy Pushes Singapore Office Rents up in Q1, Tilts Market in Landlords’ Favour
Singapore’s office market tightened further in the first quarter of 2026, with vacancy rates falling to multi-year lows and rents extending their growth streak, supporting landlord pricing power.
While current market dynamics point to near-term resilience, Singapore’s continually rising business costs and geopolitical risks could weigh on tenant demand in the future.
Rents for core CBD Grade A office spaces rose 0.8 per cent quarter on quarter to S$12.40 per square foot (psf) per month, in their fifth consecutive quarter of growth, according to CBRE data.
Analysts Split on Singapore’S Banking Sector Outlook Even as Safe-Haven Status Remains ‘Intact’
Analysts continue to find Singapore attractive for its stability and resilience even amid the Middle East conflict, though they are divided in their views on the outlook for its banking sector.
The Republic kept its safe-haven status “intact” in March, with “sustained fund inflows into Singapore equities”, said DBS Group Research on Thursday (Apr 2).
Analysts Yeo Kee Yan and Foo Fang Boon noted that Singapore has performed well relative to regional peers.
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