Market Snapshot

Singapore stocks opened flat on Tuesday. NIO surges 12%; Raffles Medical up 3%; Keppel up 1%; ComfortDelGro, SATS, ST Engineering, DBS up within 1%.

Stocks in Focus

Jardine Matheson Holdings: The Hong Kong-based conglomerate on Tuesday reported an 11 per cent year-on-year increase in underlying profit to US$1.7 billion for financial year 2025. Full-year revenue fell 4 per cent to US$34.2 billion. The group declared a final dividend of US$1.75 a share, bringing its full-year dividend to US$2.35 a share. Shares of Jardine Matheson rose 7.7 per cent or US$5.59 to US$78.40 before the news.

Yangzijiang Shipbuilding: The shipbuilder said on Tuesday that it will buy a 10 per cent stake in a maritime holding company for US$825.7 million from Canadian investment firm FairFax Financial. This translates to about 29.2 million shares of Poseidon Corp, an indirect parent company of Seaspan Corporation, the world’s largest owner and operator of container ships. Shares of Yangzijiang Shipbuilding fell 1.2 per cent, or S$0.05, to close at S$4.05 on Tuesday.

Sembcorp Industries: It is reportedly seeking a loan of around A$3 billion (S$2.7 billion) to back its purchase of power generator and retailer Alinta Energy, according to people familiar with the matter. The loan for Sembcorp’s Australian unit will be split between an acquisition tranche – with a tenor ranging from five to 10 years – and a working capital portion, a Bloomberg report said. Shares of Sembcorp ended 0.4 per cent or S$0.02 higher at S$5.72 on Tuesday.

Mapletree Logistics Trust (MLT): The manager of MLT said on Tuesday that it has made provisions of RM28.1 million (S$9.1 million) in its financial statements due to an ongoing tax dispute in Malaysia. Units of MLT rose 0.8 per cent or S$0.01 to close at S$1.21 on Tuesday.

Nio: The Chinese electric vehicle maker swung into the black with a fourth quarter net profit of 122.4 million yuan (S$22.5 million), it said on Tuesday. The results narrowed its net loss for FY2025 to 15.6 billion yuan. Its basic and diluted net profit per share for Q4 FY2025 was 0.05 yuan, compared with a net loss per share of 3.45 yuan in the same period the year before. Shares of Nio on the Singapore Exchange closed at US$4.98, up 2.3 per cent or US$0.11, before the results were announced.

SG Local News

Residential Launches and Robust Order Books to Hold up Earnings for Property, Construction Stocks

After a banner 2025 financial year, Singapore-listed property stocks look set to extend their run into 2026, supported by steady residential launch pipelines, multi-year order book visibility and ongoing capital recycling.

Growth is, however, likely to be more measured for agency players as transaction volumes normalise from last year’s standout sales.

New home sales fuelled top-line growth at developers City Developments Ltd (CDL) and UOL in the second half of 2025, when construction counters also delivered with strong project execution and healthy order books providing multi-year earnings visibility.

Singapore’s energy and chemicals sector in focus as Middle East conflict escalates

Singapore’s energy and chemicals sector has come under the spotlight as conflict in the Middle East escalates. As oil prices hit a four-year high on Monday (Mar 9), observers noted that the sector faces a “very grim” outlook.

Although oil prices have since corrected, the shock has renewed concerns over the vulnerability of one of Singapore’s key pillars.

Energy and chemicals are a vital component of Singapore’s export-oriented economy, with the sector contributing to about 2 to 3 per cent of gross domestic product, and accounting for around 23 per cent of total manufacturing output.