Market Snapshot

On Thursday, Singapore stocks opened flat. DBS fell more than 2% after its third-quarter profit declined and missed expectations, AEM SGD plunged over 7%, UMS dropped more than 5%, and OCBC Bank edged lower. On the other hand, JMH USD gained more than 1%, and UOL rose more than 3%.

Stocks in Focus

The following companies saw new developments that may affect trading of their securities on Thursday (Nov 5):

DBS : The lender reported on Thursday a net profit of S$2.81 billion for the three months ended Sep 30, down 5 per cent from S$2.95 billion in the year-ago period. DBS said earnings growth was offset by lower markets trading income amid unfavourable equity market conditions. The latest net profit fell short of the S$2.95 billion consensus forecast from a Bloomberg survey of eight analysts. DBS also announced that its chairman, Peter Seah, will retire at the end of this year, with board member Anthony Lim set to succeed him from Jan 1, 2027. Shares of DBS ended 0.1 per cent or S$0.10 lower at S$70.78 on Wednesday.

Centurion Accommodation Reit (CAReit) : The real estate investment trust (Reit) on Wednesday posted net property income of S$117.7 million for the nine months ended Sep 30, coming in 4.8 per cent above its prospectus forecast. Its manager said the better-than-expected performance was helped by higher rental rates at its Singapore worker dormitories and new bed capacity. Revenue came in at S$164.4 million, 5.7 per cent ahead of the S$155.6 million forecast in the Reit’s initial public offering prospectus dated Sep 18, 2025. Units of CAReit ended 1.9 per cent or S$0.02 higher at S$1.07 on Wednesday, before the announcement.

Starhill Global Reit : The Reit manager said that Australian retailer David Jones, which is the anchor tenant at its Perth property David Jones Building, verbally informed the trust that it has entered into voluntary administration. The lease contributed to around 4.7 per cent of the Reit’s total portfolio revenue for the financial year ended Jun 30. Assuming the tenant’s lease ended on Jul 1, 2025, with no replacement for 12 months, the Reit’s distribution per unit for FY2025 would be around S$0.0329, compared to the actual S$0.0368, on a pro forma basis. The counter closed 1 per cent or S$0.005 higher at S$0.51.

Koh Brothers Eco Engineering : The engineering solutions group said on Wednesday that it plans to raise up to S$27.6 million through a renounceable underwritten rights issue, with its parent committing to subscribe for its full entitlement. Koh Brothers Eco Engineering, which recently transferred from Catalist to Singapore Exchange’s mainboard, will offer up to 563,644,184 new shares at S$0.049 each, on the basis of one rights share for every five existing shares held. The counter ended 15.9 per cent or S$0.011 lower at S$0.058 on Wednesday, before the announcement.