Market Snapshot

Singapore stocks opened higher on Thursday. STI rose 0.3%; YZJ Fin Hldg up 2%; SATS up 1%.

Stocks in Focus

YZJ Fin Hldg: The investment management company said on Wednesday that it has entered into an agreement, along with its two of its strategic investors, to lead the restructuring of Chinese lithium battery producer Ningbo Shanshan. The parties have formed an investment holding platform to acquire 223.3 million shares of Shanshan at 11.44 yuan per share, which translates to 9.9 per cent of Shanshan’s total share capital. The group will contribute 1.02 billion yuan (S$184.4 million) and hold a 40 per cent interest in the platform. Its shares closed 1.7 per cent or S$0.02 lower at S$1.18 on Wednesday, prior to the announcement. 

Cordlife: The cord blood bank is assessing risks and uncertainties that could impact its ability to continue as a going concern as it faces a potential one-year suspension, it said on Wednesday. The Ministry of Health issued the suspension on Monday after an audit found that Cordlife failed to comply with regulatory requirements. The company said it will provide an update on the outcome of the assessment, which is expected to be completed by the end of the week. Shares of Cordlife ended flat at S$0.215 on Sep 26, before the company called for a trading halt on Sep 29. The trading of its shares will resume on Oct 2.

MM2 Asia: The entertainment company on Wednesday announced that it has applied to the Singapore Exchange for another 90-day extension to hold the company’s annual general meeting (AGM) for the financial year ended Mar 31. It is seeking to extend the AGM – originally due on or before Jul 31 – from the current deadline of Oct 29, 2025, to Jan 27, 2026. This is the second extension mm2 is requesting for its AGM. Shares of mm2 closed 50 per cent or S$0.001 higher at S$0.003 on Wednesday, before the news. 

SG Local News

DBS, UOB, OCBC Lead Dividend Growth as Singapore Companies Pay Out US$8.2 Billion in H1

The three local banks led dividend growth in Singapore for the first half of 2025, according to a study by asset manager Capital Group.

Singapore companies paid a total of US$8.2 billion in dividends in H1. Adjusted for one-off special dividends, exchange rates and other minor factors, this is up 13.1 per cent on year.

DBS led core dividend growth after hiking its quarterly payouts, while special dividends from UOB and OCBC – both of which pay dividends half-yearly – boosted top-line growth of the dividend figures.

Singapore Home Prices Accelerate Again After New Buying Wave

Singapore private home prices jumped the most in three quarters, after a resurgence in sales of new apartments.

A price index for private residences rose 1.2% last quarter from three months earlier, according to preliminary estimates released Wednesday by the city’s Urban Redevelopment Authority. That compares with a 1% increase in the second quarter.

The acceleration comes after a renewed rise in presales amid a slew of new projects being released in the market, across the suburban and prime segments near the city center. Along with a significant decline in local interest rates and developers adjusting strategies to attract buyers, that has driven a new frenzy of buying in the city-state.

Exxon Expects Cut of 10% to 15% in Singapore Workforce by End-2027

Exxon Mobil Corp expects to cut staff numbers in Singapore by 10% to 15% and move its office to its Jurong plant on the island by the end of 2027, the company said on Wednesday, in a global restructuring effort.

The steps come after the U.S. major unveiled plans on Tuesday to lay off 2,000 workers globally, particularly in Canada and across the European Union, as part of long-term restructuring that will affect about 3% to 4% of its workforce.