Market Snapshot

Singapore stocks opened lower on Thursday. STI fell 0.1%; AWX fell 0.46%; AIY fell 0.37%; A17U fell 0.45%; U11 fell 0.2%.

Stocks in Focus

Frasers Cpt Tr: The trust posted a distribution per unit (DPU) of S$0.06214 for the second half ended September, up 2.6 per cent from S$0.06059 in the previous corresponding period. This raised total DPU for FY2026 to S$0.1235 – a new high. Revenue for H2 was up 8.7 per cent at S$223 million, and net property income rose 11.5 per cent to S$160.9 million. The increases were driven by contributions from Northpoint City South Wing, as well as higher passing rents across most malls. Units of FCT ended Wednesday 1 per cent or S$0.02 higher at S$2.06.

Olam Group: The group said on Wednesday that neither it nor Olam Agri owns or operates oil palm plantations or concessions in Indonesia. As a result, neither has direct operational exposure to recent forest and peatland fires. It added that Olam Agri ceased to be its subsidiary in April. The group was responding to queries from Singapore Exchange Regulation and said it was unaware of any formal regulatory inquiries or notices relating to Indonesian forest fires contributing to haze. Shares of Olam rose S$0.01 or 1.1 per cent to S$0.91 before the announcement.

SG Local News

More than S$45 million set aside to help Singapore manufacturers adopt AI

The government has set aside more than S$45 million (US$35 million) over the next three years to help manufacturers adopt AI, Minister of State for Energy, Trade and Industry Gan Siow Huang said on Wednesday.

The funding will support Enterprise Singapore’s (EnterpriseSG) Catalytic AI Solutions initiative for advanced manufacturing, which is aimed at helping manufacturers overcome common barriers to AI adoption, she said.

OCBC customers can hold Malaysian ringgit in Singapore savings accounts from Oct 23

OCBC customers here will be able to hold Malaysian ringgit and earn interest on cash balances in their multi-currency accounts from Oct 23.

The bank said on Oct 21 that it will be the first non-Malaysian bank to let customers hold ringgit in Singapore-based personal savings accounts.

Those who have the OCBC global savings account and premier global savings account will be able to convert Singapore dollars into ringgit at competitive exchange rates and hold up to RM50,000 (S$15,700), the bank said.

This brings the number of currencies supported by OCBC’s multi-currency savings accounts to 11, including US dollar, euro, Japanese yen, Hong Kong dollar and British pound.

Singapore to update restructuring and insolvency framework to better serve economy, businesses

Forty years after judicial management was introduced in Singapore, the process has not always fulfilled its purpose of rescuing beleaguered but viable businesses and preserving their value.

“Too often, it has become a precursor to liquidation, adding time and costs without necessarily achieving meaningful rehabilitation,” said Minister for Law Edwin Tong on Oct 21.

“This is unacceptable,” he added, giving the keynote address at the Singapore Insolvency Conference organised by the Insolvency Practitioners Association of Singapore.