Market Snapshot

Singapore stocks opened lower on Wednesday. STI fell 0.1%; NIO up 2%; UOL up 1%.

Stocks in Focus

CapitaLandInvest: The global real asset manager said on Tuesday that it will provide retail advisory services to Malaysian property developer Astaka for a new mixed-use project in Johor worth RM1.2 billion (S$364.5 million) in gross development value. Astaka chief executive Allen Khong said the project comprising a new lifestyle mall and a five-star hotel will be a key beneficiary of cross-border travel and retail activity thanks to the Johor-Singapore Special Economic Zone. The counter closed 1.1 per cent or S$0.03 up at S$2.70 on Tuesday.

CapLand Ascendas REIT: The real estate investment trust on Wednesday announced the completion of the acquisition of two plots of freehold land in the UK, as previously planned. The plots are in Manton Wood and Towcester sites in the East Midlands, on which four new logistics properties are planned to be developed. The counter closed 0.8 per cent or S$0.02 up at S$2.70 on Tuesday.

IFAST: Shares of iFast on Tuesday had their biggest drop since April after Temasek-linked CP Invest offloaded about 14.4 million shares at a 6.7 per cent discount to the previous day’s closing price. CGS International analyst Tay Wee Kuang said investors are likely taking this as a sign that iFast is “fairly valued” at S$9.77. The counter closed 8.5 per cent or S$0.83 down at S$8.94 on Tuesday.

Lum Chang Creat: It is expected to report a “significant improvement” in its profit before tax for its full year ended Jun 30, 2025, according to its profit guidance released on Tuesday. This is due to higher revenue from the improved progress of ongoing projects and the start of new projects undertaken in financial year 2025, compared with FY2024. LCC is expected to report its earnings on or before Aug 29. The counter closed on Tuesday S$0.03 or 7.2 per cent higher at S$0.445.

SG Local News

SGX Wants to Woo Private Companies to List in Singapore, Says Its Head of Research

Private equity players that have built up businesses and are poised to cash out are being wooed by the Singapore Exchange (SGX); and one way to discover these businesses is through research reports.

There are around 80 to 100 such private companies in the region in sectors ranging from consumer to industrial to technology, noted Mr Chan Kum Kong, head of research at SGX Group.

CapitaLand Investment to Advise Malaysian Developer Astaka on Retail Strategy for RM1.2 Billion Johor Development

CapitaLand Investment (CLI) will provide retail advisory services to Malaysian property developer Astaka Holdings for a new mixed-use project in Johor worth RM1.2 billion (S$364.5 million) in gross development value.

The project will comprise a lifestyle mall with 300,000 square feet of net lettable area, a five-star hotel with 250 rooms and 300 residential units, Astaka and CLI announced in a press release on Tuesday (Aug 19) evening.

It is part of the third phase of One Bukit Senyum, an integrated development unveiled in 2014 and touted as Johor Bahru’s new central business district.

Great Eastern Holdings to Issue 29.7 Mil Bonus Ordinary Shares and 443.6 Mil Class-C Non-Voting Shares

Great Eastern Holdings has allotted and issued 29,711,041 bonus ordinary shares and 443,608,028 Class C non-voting shares to entitled shareholders, ahead of the resumption of its trading on Aug 21 at 9am.

During an extraordinary ordinary meeting (EGM) on July 8, less than 75% of minority shareholders voted for delisting. That led to more than 90% of all the shareholders, including major shareholder Oversea-Chinese Banking Corp (OCBC), voting to change the constitution of GEH to enable it to issue Class C shares which do not carry voting rights.