Market Snapshot

Singapore stocks opened lower on Friday. STI fell 0.5%; Boustead up 4%; Sembcorp up 0.6%; SIA, DBS, Seatrium and YZJ shipbldg down 1%.

Stocks in Focus

Singapore Airlines (SIA) : An Air India plane bound for London crashed moments after taking off from the city of Ahmedabad on Thursday and more than 240 casualties have been reported, authorities said. The Boeing 787-8 Dreamliner, with 242 people on board, which was headed for Gatwick Airport, south of the British capital, had only one survivor after it crashed onto a medical college hostel during lunch hour. SIA has a 25.1 per cent stake in the Indian airline after a merger happened in November 2024. Shares of SIA closed 0.4 per cent or S$0.03 lower at S$7.03 on Thursday.

Boustead : The company announced that it is conducting strategic reviews for the sale of its stake in some of its logistics and industrial real estate assets to a real estate investment trust, to be listed on the Mainboard of the Singapore Exchange. The engineering and technology group said on Thursday that the review is part of its “ordinary course of business to periodically consider options and opportunities” in relation to its investments to unlock shareholder value. The counter closed at 0.8 per cent or S$0.01 higher at S$1.25 on Thursday, before the announcement.

Stoneweg European Real Estate Investment Trust (Stoneweg E-Reit) : Units of Stoneweg E-Reit will cease to trade on the Singapore Exchange (SGX) on Jun 13 from 5 pm, the company announced on Thursday. Prior to the trading halt announcement, the manager of the Reit announced that it will be converted into a stapled group. Each unit of Stoneweg E-Reit will be stapled to a unit in Stoneweg European Business Trust. It will then form a stapled security in an entity known as Stoneweg Europe Stapled Trust. The stapled securities will be traded on the SGX with effect from Jun 16, 2025, 9 am. The counter ended 0.6 per cent or 0.01 euros higher at 1.59 euros on Thursday.

SG Local News

Mapletree Logistics Trust completes divestment at 8 Tuas View Square for $11.18 mil

Mapletree Logistics Trust (MLT) has completed the divestment of 8 Tuas View Square for $11.18 million, a price 39.8% above its valuation as at Nov 5, according to a filing on June 12.

The property is a three-storey cargo lift warehouse and factory building with an ancillary office. It has a net lettable area of approximately 4,405 square metres (sqm).

Following this divestment, MLT’s portfolio stands at 178 properties and the total value of assets under management is $13.3 billion.

Geo Energy sells stake in Indonesian subsidiaries for US$18 mil

Geo Energy’s subsidiary has entered into a sale and purchase agreement to sell its shares in Sumber Bara Jaya (SBJ) for US$18 million ($23.03 million), according to a bourse filing on June 12.

Geo Energy holds 999 shares in SBJ, and two of its employees, Ng See Yong and Huang She Thong, each hold 1 minority share in the subsidiary. Geo Energy will also cease being a shareholder in Bumi Enggang Khatulistiwa (BEK), a subsidiary of SBJ.