Market Snapshot

Singapore stocks opened higher on Friday. STI rose 0.7%; Seatrium rose 1.8%; ST Engineering rose 1.7%; Keppel rose 1.4%; SGX and Sembcorp rose 1%.

Stocks in Focus

ST Engineering: The company said on Thursday that it has appointed Jeffrey Lam as group deputy chief executive officer, effective Jun 1. Lam, currently chief operating officer (operations excellence) and president of commercial aerospace, will step down from both roles. Shares of ST Engineering closed 0.5 per cent or S$0.06 lower at S$11.04 on Thursday, before the news.

Seatrium: In a business update on Friday, the company reported a net order book of S$15.5 billion across 24 projects for its first quarter ended Mar 31, 2026, with delivery dates till 2033. Gross margin strengthened and ongoing projects continued to advance in line with expectations, Seatrium said. Shares of the group closed 1.4 per cent or S$0.03 lower at S$2.17 on Thursday.

Keppel: The company said on Friday that it has started commercial operations at the Keppel Sakra Cogen Plant, marking the launch of Singapore’s first hydrogen-compatible combined cycle power plant. The 600-megawatt (MW) facility expands Keppel’s total power capacity by some 45 per cent. The plant is fully contracted for 2026 and 2027, and is expected to bolster Keppel’s recurring income. The counter closed at S$10.72 on Thursday, S$0.12 or 1.1 per cent lower.

CapitaLand Ascott Trust (Clas): It will sell its upscale hotel, The Robertson House by The Crest Collection, to an unrelated third party for S$360 million, the trust said on Friday. The hotel, located along Unity Street in Singapore, will be divested at 4 per cent above book value, and an exit yield of 2.3 per cent. It will receive net proceeds of S$341.7 million from the divestment, which is expected to close in Q3 2026. Clas ended Thursday 0.6 per cent or S$0.005 lower at S$0.895.

OKP: The infrastructure and civil engineering company clinched a S$165.3 million contract from the Land Transport Authority for commuter infrastructure works, under which its unit Or Kim Peow Contractors will design and construct elevator shafts at 30 pedestrian overhead bridges in Singapore. The group said its order book stood at S$760.7 million as at Thursday, with projects until 2031. Shares of OKP ended Thursday 2.5 per cent or S$0.02 higher at S$0.835, before the news.

SG Local News

Seatrium Posts S$15.5 Billion Net Order Book for Q1

Seatrium reported a net order book of S$15.5 billion across 24 projects for its first quarter ended Mar 31, 2026, with delivery dates till 2033.

According to the business update released on Friday (May 29), during the period, two legacy projects – the trailing suction hopper dredger Frederick Paup to Manson Construction and the wind turbine installation vessel Maersk Viridis to Maersk Offshore Wind – were delivered; while ongoing projects continued to advance in line with expectations.

Seatrium also completed 46 vessel repairs and upgrades during the quarter, comprising one floating storage regasification unit (FSRU) conversion, five liquefied natural gas carriers, seven cruise vessels, 10 offshore vessels and four naval vessels.

CapitaLand Ascott Trust to Divest The Robertson House for S$360 Million

CapitaLand Ascott Trust (Clas) will sell its upscale hotel, The Robertson House by The Crest Collection, to an unrelated third party for S$360 million, it said on Friday (May 29).

The hotel, located along Unity Street in Singapore, will be divested at 4 per cent above book value, and an exit yield of 2.3 per cent, the trust said in a bourse filing.

The hotel has 336 units, and takes up a total of 11,056 square metres (sqm). It was completed in 2023, and has a lease of 99 years that commenced from Nov 27, 2006 – with about 79 years of the term left.

Singapore Airlines and Air New Zealand to Expand Joint Network as Travel Demand Grows

Singapore Airlines said on Thursday that it would expand its joint network between New Zealand and ​Singapore with Air New Zealand to meet growing ‌travel demand between the two countries alongside key markets across Asia and Europe.

The expanded network comes as carriers outside of the Middle ​East reroute flights between Asia and Europe ​away from major travel hubs in the region, ⁠in response to the severe disruption in air travel ​caused by the U.S.-Israeli war on Iran.