Market Snapshot

Singapore's STI index nearly flat‑lined on Tuesday; AEM SGD fell around 0.7%, UMS dropped 0.75%; JMH USD rose 1.6%, UOL gained nearly 1%, and Singtel 10 climbed 0.4%.

Stocks in Focus

The following companies saw new developments that may affect trading of their securities on Tuesday (Sep 1):

Frasers Property : The property developer, investor and operator on Monday said it acquired Cuppage Terrace – a cluster of 17 conservation shophouses in the Orchard Road area – for an agreed property value of S$175 million. Cuppage Terrace has a total gross floor area of 34,678 square feet, excluding the outdoor refreshment area, and 62 years left on its 99-year lease. Frasers Property shares ended Monday at S$1.02, up 1 per cent or S$0.01, before the news.

Mapletree Industrial Trust : The trust’s manager on Monday said there is “no certainty or assurance” that any transaction will arise as it evaluates opportunities related to selective divestments in North America. The statement came in response to media reports on the potential divestment of its data centre assets in the US. The counter ended Monday at S$1.94, up 1 per cent or S$0.02, before the news.

Singapore Land (SingLand) : Marina Square shopping mall will close on Mar 31, 2027, as property developer SingLand embarks on a large-scale overhaul to transform the 9.2-hectare downtown complex into a multi-use development by 2031. With the redevelopment, the site will expand its overall gross floor area to about 362,493 square metres, SingLand said on Tuesday. Shares of SingLand rose 0.3 per cent or S$0.01 to close at S$3.28 on Monday.

Olam : The company on Tuesday said its wholly owned subsidiary Olam International, within Olam Food Ingredients (OFI), has priced a US$100 million issuance of five-year floating rate notes via a private placement under its existing euro medium term note programme. Proceeds will go towards refinancing OFI’s existing debt and general corporate purposes. The Singapore branch of HSBC acted as the dealer for the issuance. The counter closed Monday 1.9 per cent or S$0.02 higher at S$1.05, prior to the news.

Keppel DC Reit : The company, along with Keppel, said on Tuesday that it will acquire two freehold, hyper-scale fully-fitted data centres in Tokyo, Japan for a consideration of S$1.5 billion. Upon completion, Keppel DC Reit will hold an 88.6 per cent effective interest in each data centre, while Keppel will hold a 1.4 per cent effective interest. The existing operator will retain a 10 per cent interest in each data centre. Shares of Keppel DC Reit closed flat at S$2.20 on Monday, before the announcement.

SG Local News

Singapore overtaken by Ningbo-Zhoushan as second busiest container port in H1

Singapore fell by one position to become the third busiest port in the world in the first half of this year, despite handling 4.7 per cent or 22.7 million more 20-foot-equivalent-units (TEUs), as Ningbo-Zhoushan pulled ahead to narrowly overtake it.

The Chinese port was ahead of Singapore for the first time over the six-month period with 22.9 million TEUs, up 8.8 per cent year on year.

Shanghai was at No 1 position with 28.7 million TEUs, a 6.2 per cent rise.

Mapletree Industrial Trust says ‘no certainty’ of any deal, after report on potential US data centre divestment

There is “no certainty or assurance” that any transaction will arise as Mapletree Industrial Trust (MIT) evaluates opportunities related to selective divestments in North America, its manager said on Monday (Aug 31).

The statement, released in a late-night bourse filing, was in response to media reports on the potential divestment of its data centre assets in the US.

Real estate news outlet Mingtiandi had on Aug 28 reported that MIT had put 22 US data centres in 15 states on the market, with the portfolio spanning over 3.1 million square feet.

Keppel DC Reit buys two freehold data centres in Japan for US$1.2 billion

Keppel DC Reit and Keppel on Tuesday (Sep 1) said that they have indirectly agreed to collectively buy nearly all of two Tokyo data centres for 190 billion yen (US$1.2 billion).

Together, the two will own 90 per cent of Tokyo Data Centre 4 and Tokyo Data Centre 5, two freehold, hyperscale fully-fitted co-location data centres located in Inzai City, Greater Tokyo, Japan.

Upon completion in the fourth quarter of 2026, Keppel DC Reit will hold an 88.62 per cent effective interest in each data centre, while Keppel, through its interest in Keppel Japan KK, will hold a 1.38 per cent effective interest. The existing operator, an “established global data centre owner and operator”, will retain a 10 per cent interest in each data centre.