Market Snapshot

Singapore stocks opened lower on Tuesday. STI fell 0.4%; Thomson Medical rose 29%; NIO fell 11%; DBS and SGX fell 1%; Genting Singapore fell 0.7%.

Stocks in Focus

Frasers Property, Frasers Centrepoint Trust (FCT): Its wholly owned subsidiary Lion (Singapore) on Monday entered into a sale and purchase agreement to acquire 10 strata lots in a retail development at the Yishun 10 shopping complex beside Northpoint City. The proposed transaction has a S$34.5 million consideration. Once the transaction completes, Frasers Property will have full ownership of Yishun 10, as it already owns the only other property located there, a cinema complex it acquired from Golden Village Multiplex for S$48 million. Shares of Frasers Property ended Monday 5.3 per cent or S$0.05 higher at S$1, while units of FCT closed 1.8 per cent or S$0.04 up at S$2.29, before the announcement.

Thomson Medical Group: The healthcare provider on Monday announced its Johor Bay “mega project” in Malaysia, with a projected gross development value of over RM18 billion (S$5.5 billion). The integrated project is said to span 10.5 hectares with a hospital, a specialist centre, and assisted living and healthcare ancillaries. It will also incorporate luxury residences, hospitality, commercial and lifestyle elements. No timeline for the development’s completion was provided by the group. Shares of Thomson Medical rose 4.3 per cent or S$0.002 to S$0.049 on Monday, before the news.

Marco Polo Marine: The marine logistics provider’s indirect subsidiary PKR Offshore (PKRO) said on Monday that it is planning a listing in Taiwan. PKRO will submit its listing application by the third quarter of 2026, and is expected to list in the later part of that year. Funds from the listing will be used to develop and expand its fleet of specialised offshore wind vessels, which includes commissioning service operation vessels. These vessels provide a platform for both crew and equipment that work on offshore wind farms. The counter closed up 3 per cent or S$0.002 at S$0.069, before the announcement.

SG Local News

Singapore’s Core Inflation Rate Cools to Four-Month Low

Singapore’s key inflation gauge in July cooled to the slowest pace of gains in four months.

The core inflation rate, which excludes housing and private transportation costs, stood at 0.5% in July from a year earlier, the lowest since March, according to a statement by the Department of Statistics Singapore on Monday. That’s lower than the 0.6% for both June and the median estimate in a Bloomberg News survey.

The overall inflation rate last month came in at 0.6% from a year ago, lower than the 0.8% survey median estimate. Recreation prices fell 1.2%, after a 2.6% drop in June. The food inflation rate was 1.1% in July, while healthcare costs rose 2.4%.

Official estimates project the city-state’s core inflation to average between 0.5%-1.5% this year. The Monetary Authority of Singapore kept its policy settings unchanged at its July 30 meeting.

Singapore Extends Climate Reporting Timelines for Some Firms

Singapore Exchange Ltd.’s regulatory arm is extending the timelines for climate reporting disclosures for some listed companies after businesses urged a delay to implementation, citing a lack of resources to meet the standards.

Members of the benchmark Straits Times Index will implement International Sustainability Standards Board-aligned disclosures from FY2025, in line with the original timeline, Singapore Exchange Regulation and Singapore’s accounting and corporate regulator said in a joint statement on Monday.

However, non-constituents with a market valuation of S$1 billion ($779 million) and more will be required to report from the 2028 fiscal year. Companies with a market value of less than S$1 billion will follow from FY2030. Reporting for Scope 3 greenhouse gas emissions, which is indirect pollution occurring in a company’s value chain, will remain mandatory for STI members from FY2026 but for others, reporting will be voluntary until further notice.

Singapore's Thomson Medical Launches $4.3 Bln Johor Bay Project

Thomson Medical Group said on Monday it had launched a more than 18 billion ringgit ($4.3 billion) project to build a private hospital and residential and commercial properties in Malaysia's Johor, in one of Southeast Asia's largest such ventures.

The 26-acre (10.52 hectares) Johor Bay project, within the southern Johor-Singapore Special Economic Zone, will include Thomson Hospital Iskandariah, specialist suites, aged care facilities and a life sciences tower for medical research, the Singapore-listed Southeast Asian healthcare company said in a statement.

The project will also include luxury residences, a five-star hotel, and commercial-lifestyle precincts, it added.