Market Snapshot

Singapore stocks opened lower on Thursday. STI fell 0.2%; YZJ Shipbldg rose 1.4%; Seatrium, SGX up 1%.

Stocks to Watch

CapLand Ascendas REIT: The company reported that it has raised S$500 million from a private placement of 202.4 million units priced at S$2.47 each, on Thursday. The issue price is a 5.2 per cent discount to the volume weighted average price of S$2.6059 on May 27 when it last traded. The private placement was about 4.1 times subscribed. The company has also requested for shares to continue trading on Thursday. Shares of CLAR last closed flat at S$2.61 on Tuesday.

Seatrium Ltd: Its net orderbook wins stood at S$21.3 billion as of March, the company announced on Thursday. This comprised 26 projects with deliveries extending to 2031. Projects related to renewables and green or cleaner solutions amounted to S$7.1 billion of its net order book. The counter ended on Wednesday 0.5 per cent or S$0.01 higher at S$2.06.

SEMBCORP INDUSTRIES LTD: Its wholly owned renewables subsidiary Sembcorp Green Infra secured a solar energy storage hybrid project in India, the group said on Thursday. Under the project, it will supply solar power and support electricity demand for four hours per day through a 300 megawatt-hour battery energy storage system. The counter ended on Wednesday 1 per cent or S$0.07 lower at S$6.64

MM2 Asia: The media company on Wednesday entered into a sale and purchase agreement with private equity fund Hildrics Asia Growth Fund VCC to dispose of 21.02 per cent of its stake in subsidiary Vividthree Holdings for S$1.7 million. Mainboard-listed mm2 Asia currently holds about 29.9 per cent of the total issued and paid-up share capital of Vividthree. Following the proposed disposal, the company will hold about 8.9 per cent of Vividthree’s total issued and paid-up share capital. Shares of mm2 Asia ended flat at S$0.009 on Wednesday.

Sing Paincare: The medical-services company has received an acquisition bid for S$0.16 a share from Advance Bridge Healthcare, a management consultancy for healthcare services. This values the company at US$25.7 million, comprising 171 million shares, and represents a premium of 27 per cent over Singapore Paincare’s last traded price of S$0.126 on Monday. The company requested a trading halt on Tuesday, almost three months after it first announced via a bourse filing in March. Shares of Singapore Paincare closed flat at S$0.14 on Tuesday before the trading halt was requested.

SG Local News

Wages in Singapore Grew 3.2% in 2024, Fewer Firms Planning Increase in 2025

Real wages in Singapore grew 3.2% in 2024 compared to 0.4% in 2023, government data on Wednesday showed.

However, the share of firms planning wage increases going forward has declined to 22% in March compared to 32% in December 2024 because of geopolitical tensions and global trade uncertainties, according to a survey by the manpower ministry.

Telco Software Firm Circles Targets Listings on Nasdaq, SGX: CEO

The parent company of local virtual telco pioneer Circles.Life may opt for a listing on the Nasdaq in New York, while the telco itself looks to hold an initial public offering (IPO) on the Singapore Exchange (SGX).

Mr Rameez Ansar, who is the chief executive officer and co-founder of Circles, told The Straits Times on May 27 that the IPOs will depend on market conditions and regulators in Singapore and the US.

He noted that the double listings would aim to let Circles.Life and the fast-growing Circles software business focus on how they can each best grow, yet retain the benefits of their shared roots.