Market Snapshot

Singapore stocks opened higher on Wednesday. STI rose 0.23%; AEM SGD, PC Partner up over 3%; UMS, OUEREIT, AvePoint, Hong Leong Asia, ST Engineering up over 1%.

Stocks in Focus

Seatrium: The offshore and marine player announced on Tuesday it would collaborate with global energy company Karpowership to develop floating power and infrastructure solutions in Singapore. The parties said they aim to “create an integrated platform combining infrastructure development, financing, engineering, construction and operations”. Seatrium shares ended Tuesday flat at S$1.82 before the announcement.

$Mapletree Industrial Trust(ME8U.SI)$ (MIT): The trust on Tuesday reported a distribution per unit of S$0.0297 for its second quarter ended Sep 30, some 6.6 per cent lower than the S$0.0318 in the previous corresponding quarter. Gross revenue for the period was down 1.9 per cent at S$167 million; while net property income dropped 3.5 per cent to S$119.8 million from S$124 million. The trust’s manager attributed the fall to lower contribution from its North American portfolio and absence of income from the portfolio divestment of three industrial properties in Singapore. Its units ended Tuesday flat at S$1.79 before the announcement of its results.

$Keppel Real Estate Investment Trust(K71U.SI)$ (Reit): Keppel Reit’s distributable income from operations for the nine months ended Sep 30, 2026, rose 24.4 per cent to S$179.9 million from the year-ago period, driven by stronger portfolio performance and contributions from acquisitions. Net property income grew 12.7 per cent year on year to S$181.8 million over the same period. The Reit manager said that following its recent divestments, S$15 million in capital will be distributed to unitholders, starting from the the second half of FY2027. Units of Keppel Reit ended 1.2 per cent or S$0.01 lower at S$0.805 on Tuesday, before the announcement.

$CapitaLand India Trust(CY6U.SI)$ (Clint): The trust on Wednesday posted a 2 per cent year-on-year rise in net property income to 4 billion rupees (S$53.8 million) for its third quarter ended Sep 30, 2026. Total property income remained flat at 5.1 billion rupees, but fell 10 per cent in Singapore dollar terms to S$68.8 million amid depreciation of the Indian rupee. Portfolio occupancy stood at 91 per cent, while gearing was 38.2 per cent as at end-September. Units of Clint were up S$0.005 or 0.6 per cent on Tuesday to close at S$0.875.

$UI Boustead Real Estate Investment Trust(UIBU.SI)$ (Reit): In its first financial result since its listing, the Reit reported on Tuesday a distribution per unit of S$0.0371, some 0.8 per cent more than its prospectus forecast of S$0.0368. However, the Reit’s net property income missed its forecast by 1.8 per cent at S$54.5 million compared with a projected S$55.5 million. The first distribution will be paid to unitholders on Dec 7, 2026. Its units ended Tuesday flat at S$0.78 before the announcement.

$Digital Core Real Estate Investment Trust(DCRU.SI)$ (Reit): Distributable income of the Reit fell 1.1 per cent to US$34.8 million for the nine months ended Sep 30, from US$35.2 million in the year-ago period. Revenue rose 1.6 per cent year on year to US$134.5 million from US$132.4 million, the manager said on Tuesday. Net property income (NPI) stood at US$64.8 million, down 4.3 per cent from a year ago, due to the lack of contribution from the Reit’s Linton Hall facility. Units of Digital Core Reit ended Tuesday flat at US$0.44, before the announcement.

ST Engineering: The company reported on Tuesday that it secured S$5.6 billion worth of new contracts, in what it described as a “strong” third quarter of the year. Nearly half, or some S$2.4 billion worth, was secured by its urban solutions and satcom segment. Another S$1.8 billion was won by its defence and public security business segment, and the remaining S$1.4 billion by its commercial aerospace unit. Shares of ST Engineering ended Tuesday down 0.2 per cent or S$0.02 at S$10.16, before the announcement.

SG Local News

Singapore, Indonesia to Form Task Force to Pursue Firms Linked to Forest Fires

Indonesia and Singapore have agreed to establish a joint task force to pursue companies linked to forest and land fires, with cooperation spanning financial intelligence, cross-border evidence gathering and potential asset recovery.

The move comes as the two countries step up efforts to hold businesses accountable for the annual haze.

The task force will coordinate information sharing and investigations into companies potentially responsible for fires, Indonesian Foreign Minister Arrmanatha Christiawan Nasir said at a joint press conference with Singapore’s Foreign Minister Vivian Balakrishnan in Jakarta on Tuesday (Oct 27).

Singapore-Listed India ETF May Help Foreign Investors on Taxes

UTI Asset Management, one of India’s largest money managers, is launching a Singapore-listed exchange-traded fund that may offer a more tax-efficient route to gain exposure into the South Asian country’s stocks at a time when high levies are deterring foreign investors.

The UTI India Nifty 50 Index ETF VCC, scheduled to list in Singapore on Nov. 12, will invest in an onshore India-listed ETF rather than buying shares directly. According to its prospectus, the feeder structure allows it to claim an exemption under the India-Singapore tax treaty, avoiding capital gains taxes of 12.5% on long-term holdings and 20% on short-term investments.

Singapore Authority Grants Conditional Approval for Regional Electricity Corridor Project

Singapore's Energy Market Authority (EMA) has given conditional approval to Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries, for a ​proposed project to import renewable electricity from Vietnam via Malaysia, according to a statement by Petroliam Nasional (Petronas).

The Vietnam-Malaysia-Singapore project aims to import up to 1.3 GW of renewable electricity into Singapore through a regional power corridor linking Vietnam, Malaysia and Singapore. Renewable electricity generated from offshore wind resources in Vietnam would be transmitted through ​Malaysia and ​supplied ⁠to both Malaysia and Singapore, with imports expected to start in 2035, ​Petronas said.