Market Snapshot

Singapore stocks opened lower on Thursday. STI fell 0.1%; ThaiBev, Yangzijiang Shipbuilding up 1%.

Stocks in Focus

Stoneweg EUTrust SGD: The managers of Sert on Thursday announced the divestment of a non-core office asset in Italy for 11.4 million euros (S$17.2 million), and the completion of a 7.8 million euro sale in Poland. The former’s completion is subject to the customary conditions and is expected in the fourth quarter of this year. Cassiopea 1-2-3 in Agrate Brianza, Italy, will be divested to Finviar, and was independently valued at 11 million euros by JLL as at Jun 30, 2025. Stapled securities of Sert closed 0.7 per cent or 0.01 euro down at 1.54 euros on Wednesday.

Del Monte Pac: The dual-listed canned food brand submitted its annual report late on Wednesday night, having been suspended from trading by the Philippine Stock Exchange (PSE) from the previous day. The company previously requested an extension to its annual report submission deadline from both the PSE and the Singapore Exchange (SGX), but had been unable to meet the extended PSE deadline. On Thursday, DMP said that the delay was related to its auditors being unable to obtain sufficient audit evidence for DMP’s US unit as it is undergoing Chapter 11 bankruptcy proceedings. DMP called for a trading halt on the SGX on Wednesday morning after market open. Prior to the trading halt, its shares last traded at S$0.102, down from Tuesday’s close by S$0.002 or 1.9 per cent.

SG Local News

DBS CEO Dinner Auction in Singapore Fetches $15,000 Bid

Charity meal auctions with Warren Buffett and other famed US investors are well known. Singapore is now joining the trend with a recent auction for a dinner with one of its most prominent bankers, highlighting the city-state’s growing appetite for luxury experiences.

The winning bidder paid S$18,900 ($14,790) for the chance to dine with Tan Su Shan, chief executive officer of DBS Group Holdings Ltd., in an auction conducted by Sotheby’s last week. The event, part of National Gallery Singapore’s 2025 auction, is a rare instance of a fundraising in Asia featuring a leading corporate executive.

Agoda Axes 50 S’pore Staff; MOM Looking into Claims of Workers Being Told Not to Contact Authorities

Online travel platform Agoda said on Sept 17 that it has phased out customer support roles in Singapore, Shanghai and Budapest.

In response to queries from The Straits Times, Agoda said this is in line with its 「continuous improvement drive to enhance operational efficiency」.

While it did not say how many employees were affected, it also said it is creating new positions in other locations.

Scam Mules to Be Restricted from Banking, Phone and Singpass Services from October

Singapore authorities will begin restricting access to key banking and telecom services for individuals who are linked to scam activities, toughening its attempts to curb online financial crimes.

The latest measures target so-called scam mules, people who scammers recruit to help move ill-gotten funds, or who allow their mobile phone lines or accounts to be used to conduct telephone and internet scams.

A new 「facility restriction framework」 will be implemented in phases starting October, according to a joint statement from the Singapore Police Force, the Monetary Authority of Singapore and other government bodies on Wednesday.

Under it, individuals involved in scam activities could lose their access to digital banking services, ATMs and card-based transactions. Offenders could also be prohibited from subscribing to new mobile phone lines — and in some cases, prevented from using their government-issued Singpass accounts to register for services that could be exploited for scams.